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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 (OTCQX: ITMSF) has secured a significant contract with Malaysia's federal mapping agency to conduct an aerial mapping project on Borneo, Asia's largest island. This initiative will utilize Intermap's proprietary IFSAR technology, enabling the creation of high-resolution 3D elevation models to support national planning and infrastructure development. This contract marks Intermap's third government award since mid-2021, aiming to increase revenue per employee by 65% over 2020. The project emphasizes advanced geospatial data collection in challenging environments, facilitating regional economic growth and sovereignty.
Intermap Technologies (OTCQX: ITMSF) reported a robust growth in its InsitePro® solution, with a 22% increase in monthly recurring revenue since 2020. Key metrics show 100% customer renewal and a 50% rise in services revenue. The U.S. flood insurance market, a significant growth area, holds over $5 billion in unwritten premiums. Intermap has maintained a 90% Annual Gross Retention and a 105% Annual Net Retention. The growing demand for geospatial data in underwriting flood insurance positions Intermap favorably for ongoing expansion.
Intermap Technologies Corporation held its annual shareholder meeting on June 29, 2021, virtually due to COVID-19 precautions. A total of 17,207,184 Class A common shares, representing 66.66% of the shares, were represented. Shareholders approved all business items, including the election of directors and the reappointment of KPMG LLP as auditors. Notably, directors Patrick A. Blott, Philippe Frappier, John Hild, and Jordan Tongalson were elected with votes exceeding 91% in favor. For detailed voting results, visit the Company’s SEDAR profile.
On June 29, 2021, Intermap Technologies (OTCQX: ITMSF) announced negotiations for a senior secured convertible debenture private placement. The initial investment is set at USD$1 million, with a potential total of USD$3 million upon mutual agreement. The debentures will feature an 18-month maturity and can be converted into common shares at a 135% premium based on the 5-day VWAP. The completion of this placement is contingent upon due diligence by the investor and approval from the Toronto Stock Exchange.
Intermap Technologies (OTCQX: ITMSF) announced its virtual Annual General Meeting (AGM) scheduled for June 29, 2021, at 12:00 pm MT. Chairman and CEO Patrick A. Blott will discuss the company's business and strategic direction. In response to the COVID-19 pandemic, this format allows shareholders from any location to participate safely. The meeting will be accessible via live audio webcast, ensuring equal opportunities for all attendees to engage and ask questions. For more details, shareholders can visit the provided link.
Intermap Technologies (OTCQX: ITMSF) has received an Other Transaction (OT) award from the National Geospatial-Intelligence Agency (NGA) to produce low latency foundation data for national security. This marks Intermap's return as an NGA contractor after nine years, partnering with CACI to leverage its patented IRIS™ technology for near-real-time elevation models. The project aims to enhance the quality and speed of data dissemination for NGA's critical operations, promising improved situational awareness for users. This contract underscores Intermap's capabilities in geospatial intelligence.
On June 8, 2021, Intermap Technologies (OTCQX: ITMSF) announced the integration of its NEXTView™ platform with Aviatize's IDRONECT UTM for a medical delivery pilot in Africa. NEXTView is the world's first certified global surface data platform for commercial aviation, enhancing safety and efficiency in UAV operations by providing precise terrain and obstacle data. The partnership aims to establish a new transportation infrastructure, supporting beyond visual line of sight drone deliveries. The press release also highlights potential regulatory changes impacting UAS operations in the future.
Intermap Technologies has announced its expansion into Asian markets, securing its first commercial client in India and a new client in Saudi Arabia. The company has formed a strategic partnership with TATA Communications, which connects 80% of the world’s mobile subscribers, to support its 5G network expansion. Intermap's elevation data-as-a-service (EDaaS) solutions enhance network planning efficiency and have gained traction with over 80 customers. Additionally, they expect recovery in U.S. government sales by year-end. The Indian market offers significant growth potential.
Intermap Technologies (OTCQX: ITMSF) has announced its Q1 2021 financial results, reporting revenue of $0.9 million, unchanged from the previous quarter but down from $1.6 million in Q1 2020. The company faces ongoing challenges in government revenue due to COVID-19, although it anticipates revenue recognition from a contract with Colombia's national mapping agency. Loss per share improved to $0.04 from $0.10 year-over-year. A private placement raised $0.4 million on April 27, 2021. Intermap is also engaged in creating high-resolution elevation data for Colombia.
Intermap Technologies (OTCQX: ITMSF) has announced the availability of its NEXTView™ elevation data on cloudeo's market platform, enhancing safety and efficiency in UAV flights. NEXTView is the only high-resolution, global geospatial terrain dataset certified for aviation, integrating terrain and aerodrome data. This addition aims to address the growing demand in the UAS/UAV industry, with applications spanning telecommunications and urban planning. Cloudeo's platform offers various DaaS and SaaS products, enabling easy access to these datasets.