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Overview of Intermap Technologies Corp
Intermap Technologies Corp is a global innovator in 3D geospatial products, 3D mapping, and geospatial intelligence solutions. The company leverages cutting-edge sensor technologies and advanced processing platforms to deliver high-resolution digital elevation models and comprehensive geospatial data products. Its diverse portfolio includes government contracts, software subscriptions, and acquisition services that support infrastructure planning and operational analytics across multiple sectors.
Core Business Areas
The company primarily focuses on several interrelated business segments:
- Geospatial Mapping and Surveying: Utilizing proprietary technologies, including IFSAR and FOPEN sensors combined with patented convergence models, Intermap produces highly detailed 3D elevation models and orthorectified imagery. These products are crucial for national-scale mapping projects and large infrastructure planning initiatives.
- Software and Data Analytics: Its recurring software subscription services, such as telecom network planning tools, offer advanced analytics to optimize infrastructure placement and radio frequency planning. These solutions enable cost-effective network development and risk management through precise signal propagation analysis.
- Government and Defense Services: Intermap plays a critical role in supporting government initiatives and defense programs. The company’s geospatial data supports strategic national projects, such as mapping large territories and aiding in augmented reality systems for military and law enforcement applications.
- Acquisition and Processing Services: By integrating multi-sensor data from various acquisition platforms, the company delivers robust data sets and analytics to drive comprehensive decision-making and operational efficiencies in both commercial and public sectors.
Market Position and Competitive Landscape
Intermap stands out in the geospatial industry by addressing the demand for precise, high-resolution mapping data and advanced analytical tools. With a strong foothold in government contracts and renewed partnerships in commercial sectors such as telecommunications and insurance, the company demonstrates a clear competitive edge. Its ability to deliver large-scale, multiyear mapping projects and recurring software solutions differentiates it from competitors who lack the same level of integrated technological infrastructure and global reach.
Technological Capabilities
The company is renowned for its sophisticated sensor technology and data processing capabilities. By investing significantly in upgrading its airborne and sensor platforms, Intermap ensures that its 3D mapping outputs meet stringent geospatial specifications demanded by large infrastructure and governmental projects. The incorporation of AI and machine learning in its data processing architecture further enhances the precision and scalability of its intelligence solutions, making its geospatial products uniquely reliable for both tactical and strategic applications.
Business Model and Revenue Streams
Intermap’s business model is characterized by a balanced mix of project-based revenue and steady recurring revenue from software and data subscriptions. Its multi-year government contracts provide a stable revenue foundation, while its subscription services offer scalability and predictable cash flows. This dual approach enhances the company’s ability to invest in technology advancements and secure its market position. The company’s engagement in diverse geospatial applications—from national infrastructure projects and defense mapping to telecom analytics—illustrates its comprehensive approach to meeting varied market needs.
Strategic Impact and Industry Relevance
Intermap Technologies Corp is central to building national digital infrastructures and advancing geospatial intelligence. Its work in creating detailed 3D mapping foundations supports economic growth and commercial expansion worldwide. The company’s expertise in handling complex geospatial projects, supported by strong operational processes and robust technology platforms, solidifies its reputation as a trusted provider in markets where precise location data and insightful analytics are paramount.
Conclusion
By combining advanced sensor technologies, high-resolution geospatial mapping, and innovative analytical tools, Intermap Technologies Corp has established itself as an essential player in the geospatial intelligence market. Its strategic approach to both government and commercial sectors, along with its sophisticated data processing capabilities, underscores its commitment to providing reliable and cutting-edge geospatial solutions.
Intermap Technologies reported strong financial results for 2024, with revenue reaching $17.6 million compared to $6.2 million in 2023. The company achieved a net income of $2.5 million, reversing a $3.7 million loss from the previous year. Revenue breakdown includes $10.5 million from Acquisition Services, $3.1 million from Value-added Data, and $4.0 million from Software and Solutions.
The company secured several major government contracts in 2024, including projects in Indonesia, Malaysia, and with the U.S. Air Force. Commercial achievements included expansion in European insurance markets and telecom renewals. For 2025, Intermap projects revenue of $30-35 million with an adjusted EBITDA margin of approximately 28%.
The company recently closed a C$12 million equity financing and was selected as a vendor for a $200 million Luno B IDIQ contract. With total assets increasing 2.6x to $12.0 million, Intermap will register under U.S. Securities Exchange Act reporting requirements as a foreign private issuer.
Intermap Technologies (ITMSF) reports strong growth in its insurance business for early 2025, with year-to-date awards exceeding $1.1 million from new client subscriptions and renewals. The company secured two major strategic partnerships:
1. A new multiyear subscription with a major bank-insurance group operating in five European countries, implementing Intermap's Aquarius RMA solution for natural hazards and climate change risk quantification.
2. A partnership with PREMIUM Insurance Company , adopting Intermap's next-generation Aquarius RMA natural hazard solution for the Czech Republic and Slovakia markets.
The company's NEXTMap solution incorporates AI and machine learning to create global digital elevation models at resolutions up to one meter, enabling precise risk assessments throughout the insurance policy lifecycle.
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) announced it will release its Q4 and full-year 2024 financial results after market close on March 27, 2025. The company will host a live webinar on the same day at 5:00 pm ET.
The earnings webinar will feature CEO Patrick A. Blott, CFO Jennifer Bakken, and COO Jack Schneider, who will review results, provide company updates, and address investor questions. A recording and supporting materials will be available in the investor section of Intermap's website.
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) announced its team, led by CACI, Inc. – Federal, has been selected as one of the vendors for the National Geospatial-Intelligence Agency's (NGA) $200 million Luno B commercial data contract. The indefinite delivery, indefinite quantity (IDIQ) contract will provide the national security community with access to high-quality commercial geospatial intelligence (GEOINT).
The contract features a five-year base ordering period and will enable NGA to advance GEOINT artificial intelligence applications while supporting warfighters, policy makers, and mission partners. Users will gain access to data and analytic services for worldwide economic, environmental, and geopolitical activities analysis, including monitoring of illegal and unregulated activities.
Intermap Technologies has been awarded a subcontract with Endurance Group to support the Pentagon's Irregular Warfare Technical Support Directorate (IWTSD). The contract, part of the CY 2024 Defense Budget, involves providing comprehensive 3D mapping and rendering services for an augmented reality platform designed for subterranean use by military and law enforcement agencies. The work will commence in Q3 2024. The project aims to support special mission units and demonstrates Intermap's capability in delivering high-quality geospatial services to joint force, inter-agency, and host nation partners.
Intermap Technologies reported strong Q3 2024 results with revenue of $5 million, up 241% from Q3 2023. The growth was driven by Acquisition Services revenue of $2.9 million from the Indonesian mapping program and Value-added Data revenue increasing to $1.1 million. The company achieved a 30% adjusted EBITDA margin and net income of $1.1 million. Intermap completed the first 5,900+ map sheets for Indonesia's mapping program, covering 25,000 square kilometers. The company affirmed its 2024 guidance with expected revenue of $16-18 million and ~25% adjusted EBITDA margin.
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) announced it will release its Q3 2024 financial results after market close on Thursday, November 14, 2024. The company will host a live webinar at 4:30 pm ET / 2:30 pm MT on the same day, featuring CEO Patrick A. Blott, CFO Jennifer Bakken, and COO Jack Schneider. The webinar will include a review of results, company updates, and a Q&A session for investors. A recording and supporting materials will be available on the company's investor website.
Intermap Technologies announced that Česká podnikatelská pojišťovna (ČPP), a subsidiary of Vienna Insurance Group, has subscribed to its property valuation solution. This solution, developed with Dataligence, integrates Intermap’s data and analytics with Dataligence’s pricing and real estate databases to enhance real estate data transparency in the Czech market.
ČPP, a long-term user of Intermap’s Aquarius RMA, aims to improve underwriting accuracy using comprehensive flood and natural hazard maps. The solution addresses the growing demand for digitized property services, enabling precise online property valuations. Intermap’s proprietary datasets help insurers manage risk and improve underwriting margins.
Intermap emphasizes the importance of its services given recent natural disasters and the need for increased flood insurance coverage. The company is well-positioned to meet the rising demand for reliable insurance solutions in Europe.
Intermap Technologies, in partnership with CACI, has been selected as one of 10 qualified vendors for the National Geospatial-Intelligence Agency's (NGA) Luno A program. This initiative, valued at up to $290 million over five years, represents a significant increase from the original $29 million budget for the Economic Indicator Monitoring (EIM) effort.
Luno A aims to provide continually updated, low-latency foundation data to support critical national security indicators. The program will leverage commercial satellite data and integrate advanced computer vision and AI-driven geospatial intelligence to monitor economic activities, military capabilities, and environmental conditions.
Team CACI's platform will combine Intermap's patented IRIS™ processing suite with CACI's Feature Trace software, utilizing advanced geospatial AI/ML models to deliver precise, near-real-time feature datasets. This technology can generate insights for analysts and power DEM and map sheet updates through change detection of manmade and natural features.
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) has announced a strategic partnership with Aon’s Impact Forecasting to enhance underwriting, risk management, and portfolio modeling. This collaboration allows insurers to access Aon’s hazard and risk maps through Intermap’s solutions, covering the entire insurance cycle. The partnership aims to address the growing threat of natural catastrophe-insured losses, which surpassed $100 billion for the fourth consecutive year in 2023.
Generali CEE will be the first to integrate Aon’s Flood and Earthquake Hazard Datasets into Intermap’s Aquarius RMA solution. Intermap's commercial risk business has seen a 9% CAGR since 2021, with Aquarius RMA growing at over 35% due to increased flood risks. The business is projected to account for 25% of the company’s 2024 revenue. Intermap plans to expand its market in East Asia and the Pacific, where 65% of the population resides in high-risk flood zones.
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