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Intermap Technologies (TSX: IMP; OTCQB: ITMSF) announced the expansion of its contract with a global spacecraft/launch/communications operator. The contract now includes additional operation sites for RF interference modeling, leveraging Intermap's high-precision 3D NEXTMap® elevation data and proprietary AI/ML software. This expansion aims to support high-growth space communications, enhancing simulation capabilities, ensuring regulatory compliance, and providing actionable geospatial insights. This marks a significant milestone in Intermap's continued global expansion and commitment to delivering precise 3D data to commercial enterprises.
Intermap Technologies announced a 42% revenue growth in the first quarter of 2024, with recurring revenue contributing significantly. The Company received initial payments for the Indonesian mapping program. Intermap affirmed revenue projections for 2024 of $16-18 million with an EBITDA margin of around 25%. The Company is focused on building geospatial foundation data for Indonesia and expanding its government segment. Additionally, Intermap won several key contracts and anticipates further growth opportunities in Southeast Asia.
