Intermap Announces 125% Revenue Growth in the Second Quarter
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) reported 125% revenue growth in Q2 2024, with revenue jumping to $3.6 million from $1.6 million in Q2 2023. The company achieved $0.9 million of EBITDA, $0.6 million of operating income, and $0.6 million of net income. Intermap's airborne platform began data collection for the Indonesian mapping program, and the company affirmed its 2024 revenue projections of $16-18 million with an adjusted EBITDA margin of approximately 25%.
Key highlights include:
- Total assets increased by $1.5 million to $6.0 million
- Successful completion of a LIFE offering, raising CAD $3.3 million
- Strong growth in government and commercial segments
- New contracts in Malaysia, Malawi, India, and Greece
- Expansion of subscriptions with major insurance and telecom clients
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) ha riportato una crescita dei ricavi del 125% nel secondo trimestre del 2024, con i ricavi che sono passati a 3,6 milioni di dollari rispetto a 1,6 milioni di dollari nel secondo trimestre del 2023. L'azienda ha realizzato 0,9 milioni di dollari di EBITDA, 0,6 milioni di dollari di reddito operativo e 0,6 milioni di dollari di reddito netto. La piattaforma aerea di Intermap ha iniziato la raccolta dati per il programma di mappatura indonesiano e l'azienda ha confermato le sue proiezioni di ricavi per il 2024 di 16-18 milioni di dollari, con un margine EBITDA rettificato di circa il 25%.
I punti salienti includono:
- Aumento totale degli attivi di 1,5 milioni di dollari a 6,0 milioni di dollari
- Completamento con successo di un'offerta LIFE, raccogliendo 3,3 milioni di dollari canadesi
- Forte crescita nei segmenti governativi e commerciali
- Nuovi contratti in Malesia, Malawi, India e Grecia
- Espansione delle sottoscrizioni con importanti clienti nel settore assicurativo e telecomunicazioni
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) reportó un crecimiento del 125% en los ingresos en el segundo trimestre de 2024, con ingresos que saltaron a 3.6 millones de dólares desde 1.6 millones de dólares en el segundo trimestre de 2023. La empresa logró 0.9 millones de dólares de EBITDA, 0.6 millones de dólares de ingreso operativo y 0.6 millones de dólares de ingreso neto. La plataforma aérea de Intermap comenzó la recolección de datos para el programa de mapeo de Indonesia, y la empresa afirmó sus proyecciones de ingresos de 16 a 18 millones de dólares para 2024, con un margen de EBITDA ajustado de aproximadamente el 25%.
Los puntos clave incluyen:
- Aumento total de activos de 1.5 millones de dólares a 6.0 millones de dólares
- Finalización exitosa de una oferta LIFE, recaudando 3.3 millones de dólares canadienses
- Fuerte crecimiento en los segmentos gubernamentales y comerciales
- Nuevos contratos en Malasia, Malawi, India y Grecia
- Expansión de suscripciones con importantes clientes de seguros y telecomunicaciones
인터맵 테크놀로지스 (TSX: IMP; OTCQB: ITMSF)는 2024년 2분기 수익이 125% 증가했다고 보고하며, 수익이 2023년 2분기 160만 달러에서 360만 달러로 급증했습니다. 회사는 90만 달러의 EBITDA, 60만 달러의 운영 이익, 60만 달러의 순이익을 달성했습니다. 인터맵의 항공 플랫폼은 인도네시아의 매핑 프로그램을 위한 데이터 수집을 시작했으며, 회사는 2024년 수익 예상치를 1600만 - 1800만 달러로 확인하며 조정된 EBITDA 마진이 약 25%에 이를 것이라고 밝혔습니다.
주요 사항은 다음과 같습니다:
- 총 자산이 150만 달러 증가하여 600만 달러에 도달했습니다.
- CAD 330만 달러를 모금한 LIFE 공모 완료
- 정부 및 상업 부문에서 강력한 성장
- 말레이시아, 말라위, 인도 및 그리스에서 신규 계약 체결
- 주요 보험 및 통신 고객과의 구독 확장
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) a annoncé une croissance du chiffre d'affaires de 125% au deuxième trimestre 2024, avec un chiffre d'affaires passant de 1,6 million de dollars au deuxième trimestre 2023 à 3,6 millions de dollars. L'entreprise a réalisé 0,9 million de dollars d'EBITDA, 0,6 million de dollars de revenu opérationnel et 0,6 million de dollars de revenu net. La plateforme aérienne d'Intermap a commencé la collecte de données pour le programme de cartographie indonésienne, et l'entreprise a confirmé ses prévisions de revenus pour 2024 de 16 à 18 millions de dollars avec une marge EBITDA ajustée d'environ 25%.
Les faits marquants incluent :
- Les actifs totaux ont augmenté de 1,5 million de dollars pour atteindre 6 millions de dollars
- Achèvement réussi d'une offre LIFE, levant 3,3 millions de dollars canadiens
- Forte croissance dans les segments gouvernemental et commercial
- Nouveaux contrats en Malaisie, au Malawi, en Inde et en Grèce
- Expansion des abonnements avec des clients majeurs dans les secteurs de l'assurance et des télécommunications
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) berichtete von einem Umsatzwachstum von 125% im 2. Quartal 2024, wobei der Umsatz von 1,6 Millionen US-Dollar im 2. Quartal 2023 auf 3,6 Millionen US-Dollar anstieg. Das Unternehmen erzielte 0,9 Millionen US-Dollar EBITDA, 0,6 Millionen US-Dollar Betriebsergebnis und 0,6 Millionen US-Dollar Nettogewinn. Die Luftplattform von Intermap begann mit der Datenerhebung für das indonesische Kartierungsprogramm, und das Unternehmen bestätigte seine Umsatzprognosen für 2024 von 16 bis 18 Millionen US-Dollar mit einer bereinigten EBITDA-Marge von etwa 25%.
Wesentliche Highlights sind:
- Die Gesamtsumme der Vermögenswerte erhöhte sich um 1,5 Millionen US-Dollar auf 6 Millionen US-Dollar
- Erfolgreicher Abschluss einer LIFE-Angebotsrunde, die 3,3 Millionen CAD einbrachte
- Starkes Wachstum in den Regierungs- und Gewerbesegmenten
- Neue Verträge in Malaysia, Malawi, Indien und Griechenland
- Expansion der Abonnements mit großen Versicherungs- und Telekommunikationskunden
- 125% revenue growth in Q2 2024, reaching $3.6 million
- $0.9 million EBITDA, $0.6 million operating income, and $0.6 million net income achieved
- Total assets increased by $1.5 million to $6.0 million
- Successful completion of CAD $3.3 million LIFE offering
- Affirmed 2024 revenue projections of $16-18 million with 25% adjusted EBITDA margin
- Acquisition Services revenue grew to $1.6 million from nil in Q2 2023
- Commercial revenue increased by 22% compared to Q2 2023
- Recurring revenue represented 51% of commercial revenue in H1 2024
- Won new contracts in multiple countries, including Indonesia, Malaysia, Malawi, India, and Greece
- Expanded subscriptions with major insurance and telecom clients
- Cash and accounts receivable totaled only $1.1 million at June 30, 2024
Revenue jumped to
Airborne platform commenced data collection for the Indonesian mapping program
Affirming 2024 revenue projections of
DENVER, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Intermap Technologies (TSX: IMP; OTCQB: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial products and intelligence solutions, today announced
Following a successful technology upgrade, and re-certification of its sensor payload and airborne platform to meet world-leading geospatial data specifications in Indonesia, total assets increased by
Cash and accounts receivable totaled
Intermap affirms its 2024 guidance with revenue in the range of
Intermap is successfully executing and establishing a seamless transition to mapping the entire country of Indonesia through 2028, building a strategic national digital infrastructure that supports economic growth and commercial applications. In addition to Indonesia, the Company’s government segment built on strong momentum generated in the first quarter, winning new orders in Malaysia, Malawi, India and Greece. Further highlighting the tremendous demand in this segment for Intermap’s unique IFSAR-derived elevation data, Acquisition Services revenue in the second quarter totaled
In the second quarter, commercial revenue totaled
Other second quarter highlights include:
- Winning two new infrastructure projects leveraging the company’s Artificial Intelligence/Machine Learning-driven data production technology in Greece and Malawi
- Winning multiyear Aquarius software subscriptions with leading insurers KBC Slovakia and UNIQA Slovakia
- Expanding a multiyear subscription with a Top-15 global insurance carrier by 50+%
- Expanding a base subscription contract with a top mobile and internet provider by 25+%
- Expanding a data exploitation contract with the world’s leading space communications infrastructure operator
“We have created a solid foundation in key markets for sustainable growth with high margins, which is increasingly reflected in Intermap’s financial results,” said Patrick A. Blott, Intermap Chairman and CEO. “Customers continue to renew and add capacity, gaining unique insights with unprecedented scale, quality and speed, leveraging our advanced AI/ML technology, exploitation infrastructure, software and algorithms running on top of the world’s largest elevation data archive. Starting in North America and now gaining momentum in Southeast Asia, Intermap is increasingly delivering mission-critical strategic geospatial advantage to governments and non-geospatial expert commercial users, with a growing backlog of multiyear partnerships.”
Subsequent to the quarter ending June 30, 2024, the Company successfully raised aggregate gross proceeds of approximately CAD
The Company’s consolidated financial statements for the quarter ended June 30, 2024, along with management’s discussion and analysis for the corresponding period and related management certifications for the second quarter financial results will be filed on SEDAR+ at www.sedarplus.ca on August 14, 2024.
Learn more about Intermap at intermap.com/investors.
Intermap Reader Advisory
Certain information provided in this news release, including reference to revenue and EBITDA projections or revenue growth, constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast", “will be”, “will consider”, “intends” and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. Intermap’s forward-looking statements are subject to risks and uncertainties pertaining to, among other things, cash available to fund operations, availability of capital, revenue fluctuations, nature of government contracts, economic conditions, loss of key customers, retention and availability of executive talent, competing technologies, common share price volatility, loss of proprietary information, software functionality, internet and system infrastructure functionality, information technology security, breakdown of strategic alliances, and international and political considerations, as well as those risks and uncertainties discussed Intermap’s Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.
About Intermap Technologies
Founded in 1997 and headquartered in Denver, Colorado, Intermap (TSX: IMP; OTCQX: ITMSF) is a global leader in geospatial intelligence solutions. The Company’s proprietary 3D NEXTMap® elevation datasets and value-added geospatial collection, processing, analytics, fusion and orthorectification software and solutions are utilized across a range of industries that rely on accurate, high-resolution elevation data. Intermap helps governments build authoritative geospatial datasets and provides solutions for base mapping, transportation, environmental monitoring, topographic mapping, disaster mitigation, smart city integration, public safety and defense. The Company’s commercial applications include aviation and UAV flight planning, flood and wildfire insurance, environmental and renewable energy planning, telecommunications, engineering, critical infrastructure monitoring, hydrology, land management, oil and gas and transportation. For more information, please visit www.intermap.com.
For more information, please contact:
Jennifer Bakken
Executive Vice President and CFO
CFO@intermap.com
+1 (303) 708-0955
Sean Peasgood
Investor Relations
Sean@SophicCapital.com
+1 (647) 260-9266
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