ZenaTech Sets 2027 Adjusted EBITDA Breakeven Target After 425% H1 Revenue Growth
ZENA is trading near its 52-week low of $0.858 (7.8% above the low) on light trading volume (0.4× avg).
Summary
ZenaTech set a 2027 adjusted EBITDA breakeven target on the back of 425% first-half revenue growth, while reporting a C$49.09 million (US$34.8 million) first-half net loss and warning it may keep spending past that date.
Key Events · Earnings and Guidance · ZENA
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2027 Breakeven Target Set
Management is targeting 2027 as a potential adjusted EBITDA breakeven year, an internal planning goal it explicitly says is not a projection or guarantee.
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H1 Loss Dwarfs Revenue
First-half 2026 revenue of C$17.7 million (US$12.6 million) came with a C$49.09 million (US$34.8 million) net loss and C$61.21 million (US$43.4 million) of operating expenses.
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Q3 Guidance Reiterated
Preliminary Q3 2026 revenue of C$13.4–C$14.8 million (US$9.5–US$10.5 million) implies 44%–59% sequential growth, putting nine-month revenue at roughly C$31.1–C$32.5 million.
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Breakeven May Slip By Design
The company says it may deploy additional capital into acquisitions, defense programs and international expansion even if doing so delays the 2027 breakeven timeline.
Analysis · ZENA · Technology
ZenaTech is giving investors a horizon for its losses: management now targets adjusted EBITDA breakeven in 2027, backed by first-half revenue of C$17.7 million (US$12.6 million) that already exceeded all of 2025 by roughly 37%. The catch is the scale of the losses being funded — a C$49.09 million (US$34.8 million) first-half net loss against C$61.21 million of operating expenses — and the company's own caveat that it will keep spending on acquisitions and defense programs even if that pushes breakeven out. With a US$150 million ATM already in place and shares outstanding above 201 million, any delay in that target means more equity sold into the market. The target is an internal planning goal, not a forecast, and the company declined to provide a quantitative reconciliation to IFRS net income.
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At the time of this filing, ZENA was trading at $0.92 on NASDAQ in the Technology sector, with a market capitalization of approximately $186M. The 52-week trading range was $0.86 to $5.17. This filing was assessed with neutral market sentiment and an importance score of 7 out of 10.