Intermap Announces 2024 Results and 2025 Guidance
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 ha riportato risultati finanziari solidi per il 2024, con ricavi che hanno raggiunto $17,6 milioni rispetto ai $6,2 milioni del 2023. L'azienda ha registrato un utile netto di $2,5 milioni, invertendo una perdita di $3,7 milioni dell'anno precedente. La suddivisione dei ricavi include $10,5 milioni dai Servizi di Acquisizione, $3,1 milioni dai Dati a Valore Aggiunto e $4,0 milioni da Software e Soluzioni.
L'azienda ha ottenuto diversi contratti governativi importanti nel 2024, compresi progetti in Indonesia, Malesia e con l'U.S. Air Force. Tra i successi commerciali si annoverano l'espansione nei mercati assicurativi europei e i rinnovi nel settore telecomunicazioni. Per il 2025, Intermap prevede ricavi tra $30-35 milioni con un margine EBITDA rettificato di circa il 28%.
L'azienda ha recentemente concluso un finanziamento azionario di C$12 milioni ed è stata selezionata come fornitore per un contratto IDIQ Luno B del valore di $200 milioni. Con un aumento totale degli attivi di 2,6 volte a $12,0 milioni, Intermap si registrerà sotto i requisiti di reporting della U.S. Securities Exchange Act come emittente privata straniera.
Intermap Technologies reportó resultados financieros sólidos para 2024, con ingresos alcanzando $17.6 millones en comparación con $6.2 millones en 2023. La compañía logró un ingreso neto de $2.5 millones, revirtiendo una pérdida de $3.7 millones del año anterior. La desagregación de ingresos incluye $10.5 millones de Servicios de Adquisición, $3.1 millones de Datos de Valor Añadido y $4.0 millones de Software y Soluciones.
La empresa aseguró varios contratos gubernamentales importantes en 2024, incluidos proyectos en Indonesia, Malasia y con la Fuerza Aérea de EE. UU. Los logros comerciales incluyeron la expansión en los mercados de seguros europeos y renovaciones en telecomunicaciones. Para 2025, Intermap proyecta ingresos de $30-35 millones con un margen EBITDA ajustado de aproximadamente el 28%.
La compañía cerró recientemente un financiamiento de capital de C$12 millones y fue seleccionada como proveedora para un contrato IDIQ Luno B de $200 millones. Con activos totales que aumentaron 2.6 veces a $12.0 millones, Intermap se registrará bajo los requisitos de reporte de la Ley de Valores de EE. UU. como un emisor privado extranjero.
Intermap Technologies는 2024년 강력한 재무 결과를 보고했으며, 수익은 $17.6 백만에 달하여 2023년의 $6.2 백만과 비교되었습니다. 이 회사는 $2.5 백만의 순이익을 달성하여 이전 해의 $3.7 백만 손실을 뒤집었습니다. 수익 분배는 $10.5 백만의 인수 서비스, $3.1 백만의 부가가치 데이터, $4.0 백만의 소프트웨어 및 솔루션을 포함합니다.
회사는 2024년에 인도네시아, 말레이시아 및 미국 공군과의 프로젝트를 포함하여 여러 주요 정부 계약을 확보했습니다. 상업적 성과에는 유럽 보험 시장의 확장 및 통신 갱신이 포함되었습니다. 2025년을 위해 Intermap는 $30-35 백만의 수익과 약 28%의 조정된 EBITDA 마진을 예상하고 있습니다.
회사는 최근 C$12 백만의 자본 조달을 마감했으며 $200 백만의 Luno B IDIQ 계약의 공급업체로 선정되었습니다. 총 자산이 2.6배 증가하여 $12.0 백만에 이르렀으며, Intermap는 미국 증권 거래법의 보고 요구 사항에 따라 외국 개인 발행자로 등록될 것입니다.
Intermap Technologies a rapporté des résultats financiers solides pour 2024, avec des revenus atteignant $17,6 millions par rapport à $6,2 millions en 2023. L'entreprise a réalisé un bénéfice net de $2,5 millions, inversant une perte de $3,7 millions de l'année précédente. La répartition des revenus inclut $10,5 millions provenant des Services d'Acquisition, $3,1 millions des Données à Valeur Ajoutée et $4,0 millions des Logiciels et Solutions.
L'entreprise a sécurisé plusieurs contrats gouvernementaux majeurs en 2024, y compris des projets en Indonésie, en Malaisie et avec l'US Air Force. Les réalisations commerciales comprenaient l'expansion sur les marchés de l'assurance européens et le renouvellement des contrats de télécommunications. Pour 2025, Intermap prévoit des revenus de $30-35 millions avec une marge EBITDA ajustée d'environ 28%.
L'entreprise a récemment clôturé un financement par actions de C$12 millions et a été sélectionnée comme fournisseur pour un contrat IDIQ Luno B d'une valeur de $200 millions. Avec une augmentation des actifs totaux de 2,6 fois à $12,0 millions, Intermap sera enregistré sous les exigences de reporting de la U.S. Securities Exchange Act en tant qu'émetteur privé étranger.
Intermap Technologies berichtete über starke finanzielle Ergebnisse für 2024, mit einem Umsatz von $17,6 Millionen im Vergleich zu $6,2 Millionen im Jahr 2023. Das Unternehmen erzielte einen Nettogewinn von $2,5 Millionen und kehrte damit einen Verlust von $3,7 Millionen aus dem Vorjahr um. Die Umsatzaufteilung umfasst $10,5 Millionen aus Akquisitionsdiensten, $3,1 Millionen aus wertschöpfenden Daten und $4,0 Millionen aus Software und Lösungen.
Das Unternehmen sicherte sich 2024 mehrere bedeutende Regierungsverträge, darunter Projekte in Indonesien, Malaysia und mit der US-Luftwaffe. Zu den kommerziellen Erfolgen gehörten die Expansion in europäische Versicherungsmärkte und Vertragsverlängerungen im Telekommunikationsbereich. Für 2025 prognostiziert Intermap einen Umsatz von $30-35 Millionen mit einer bereinigten EBITDA-Marge von etwa 28%.
Das Unternehmen hat kürzlich eine C$12 Millionen Aktienfinanzierung abgeschlossen und wurde als Anbieter für einen $200 Millionen Luno B IDIQ-Vertrag ausgewählt. Mit einem Anstieg der Gesamtvermögen um das 2,6-fache auf $12,0 Millionen wird Intermap unter den Berichtspflichten des U.S. Securities Exchange Act als ausländischer privater Emittent registriert.
- Revenue increased 184% YoY to $17.6 million in 2024
- Achieved net income of $2.5 million, reversing $3.7 million loss in 2023
- Secured C$12 million equity financing
- Selected as vendor for $200 million Luno B IDIQ contract
- Total assets increased 2.6x to $12.0 million
- Insurance awards in 2025 already surpass $1.1 million
- Strong 2025 guidance projecting $30-35 million revenue
- Software and Solutions revenue declined to $4.0 million from $4.3 million in 2023
Company reports 2024 revenue of
Company projects 2025 revenue of
Conference call today at 5:00 pm ET to discuss results and guidance
DENVER, March 27, 2025 (GLOBE NEWSWIRE) -- Intermap Technologies (TSX: IMP; OTCQB: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial products and intelligence solutions, today announced 2024 results and 2025 guidance.
For the full year ending December 31, 2024 (unaudited)
- Revenue of
$17.6 million , compared with$6.2 million in 2023 - Acquisition Services revenue of
$10.5 million versus nil in 2023 - Value-added Data revenue of
$3.1 million , compared with$1.9 million in 2023 - Software and Solutions revenue of
$4.0 million , compared with$4.3 million in 2023 23% adjusted EBITDA margin- Net income of
$2.5 million , compared with net loss of$3.7 million in 2023
For the fourth quarter ending December 31, 2024 (unaudited)
- Revenue of
$7.4 million , compared with$1.2 million in the fourth quarter of 2023 - Acquisition Services revenue of
$5.5 million versus nil in the fourth quarter of 2023 - Value-added Data revenue of
$1.0 million versus$0.3 million in the fourth quarter of 2023 - Software and Solutions revenue of
$1.0 million , compared with $.9 million in the fourth quarter of 2023 27% adjusted EBITDA margin- Net income of
$1.5 million , compared with a net loss of$1.0 million in the fourth quarter of 2023
“2024 reflects a significant inflection point for Intermap. We secured major contract wins and reported revenue and EBITDA at the high end of our guidance,” said Patrick A. Blott, Intermap Chairman and CEO. “Our 2025 guidance reinforces our commitment to sustainable growth and market leadership, and the C
2024 government wins
- Major Indonesian mapping contract
- Water resources management in Malaysia
- Phase Two with the U.S. Air Force
- Major NGA data contract (Luno A)
- Subcontract for subterranean operations
2024 commercial achievements
- Expanded presence in European insurance market
- Secured landmark telecom renewal
- Received new subscriptions to real estate pricing solution
- Expanded space communications partnership
Subsequent to December 31, 2024
- Year to date insurance awards surpass
$1.1 million - Close C
$12 million upsized, equity bought deal financing - Selected as a vendor for
$200 million Luno B IDIQ contract
2025 Guidance
- Revenue of
$30 – 35 million - Adjusted EBITDA margin of ~
28%
Intermap experienced significant growth in 2024, including increasing its total assets by 2.6x to
Intermap’s audited annual financial statements for the year ended December 31, 2024, the annual management discussion and analysis for the corresponding period, related management certifications of annual filings and its annual information form will be filed and available on SEDAR+ www.sedarplus.ca on March 31, 2025.
Learn more about Intermap at intermap.com/investors.
Conference Call Details
Intermap’s CEO Patrick A. Blott, CFO Jennifer Bakken and COO Jack Schneider will host a live webinar today, at 5:00 pm ET to review the results, provide Company updates and answer investor questions following the presentation.
Intermap invites shareholders, analysts, investors, media representatives and other stakeholders to attend the earnings webinar to discuss the fourth quarter and full year of 2024 results.
| DATE: | Thursday, March 27, 2025 |
| TIME: | 5:00 pm ET |
| WEBCAST: | Register |
Intermap Reader Advisory
Certain information provided in this news release, including reference to 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; OTCQB: ITMSF) is a global leader in geospatial intelligence solutions, focusing on the creation and analysis of 3D terrain data to produce high-resolution thematic models. Through scientific analysis of geospatial information and patented sensors and processing technology, the Company provisions diverse, complementary, multi-source datasets to enable customers to seamlessly integrate geospatial intelligence into their workflows. Intermap’s 3D elevation data and software analytic capabilities enable global geospatial analysis through artificial intelligence and machine learning, providing customers with critical information to understand their terrain environment. By leveraging its proprietary archive of the world’s largest collection of multi-sensor global elevation data, the Company’s collection and processing capabilities provide multi-source 3D datasets and analytics at mission speed, enabling governments and companies to build and integrate geospatial foundation data with actionable insights. Applications for Intermap’s products and solutions include defense, aviation and UAV flight planning, flood and wildfire insurance, disaster mitigation, base mapping, 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 or 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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