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Intermap Technologies Corp A (ITMSF) is a global leader in 3D geospatial products and intelligence solutions. The company recently announced infrastructure projects in Greece and Malawi, leveraging AI/ML advancements. In Greece, they provide 3D precision elevation data to the Greek Ministry of Agriculture, enhancing agriculture studies and decision-making. In Malawi, Intermap supplies 3D digital terrain models for watershed services improvement and disaster management projects, empowering hydrometeorological techniques and river basin management practices.
Intermap's commitment to disaster risk reduction and sustainable development is evident through its geospatial intelligence solutions. By providing cutting-edge data, the company supports nations like Malawi in building resilient infrastructure. Their projects in Indonesia, including precise geospatial foundation data, demonstrate Intermap's dedication to delivering world-class models and enhancing risk assessment capabilities for their clients.
Intermap Technologies (OTCQX: ITMSF) has announced a subscription from Flood Insurance Guru to its InsitePro® platform for enhanced flood risk analytics in the U.S. and Canada. This subscription aims to improve flood coverage by utilizing advanced 3D elevation data to assess property-specific flood risks. The private flood insurance market has been growing rapidly at a 20% CAGR since 2016, with InsitePro mirroring this growth, showcasing a 38% increase in monthly recurring revenue year-to-date through December 2021. Intermap's insurance business is experiencing strong growth in 2022.
Intermap Technologies (OTCQX: ITMSF) presented at the 2022 USGIF GEOINT Symposium in Denver on April 25, discussing foundational military intelligence solutions. The company aims to enhance geospatial intelligence for the US military, supporting initiatives like Agile Combat Employment and the USMC's Force 2030 restructuring. By leveraging extensive geospatial data archives, Intermap provides accurate military intelligence, vital during crises such as in Ukraine. The presentation included collaboration with partners like Oracle and FGS to optimize military operations through advanced data analytics and 3D technologies.
Intermap Technologies (OTCQX: ITMSF) has secured a three-year subscription from a second top-10 U.S. insurer for its InsitePro® SaaS platform, which specializes in flood insurance risk analytics. This subscription aligns with the growing private flood market, which has seen a CAGR of 20% since 2016. Intermap's monthly recurring revenue (MRR) rose by 9.8% from year-end 2021, reflecting robust market demand. The private flood insurance segment represents over $5 billion in unwritten premiums, and Intermap's innovative analytics are expected to aid insurers in capturing this market opportunity.
Intermap Technologies reported a 23% increase in revenue, totaling $5.8 million for 2021, recovering from COVID-19 disruptions. The company secured significant contracts with various government agencies, boosting its operational capabilities. Despite challenges, including project delays due to COVID-19 restrictions, Intermap achieved its most profitable quarter since 2019, marking eight consecutive quarters of improved operating income. Software subscription revenue grew by 11%. The balance sheet strengthened through private placements and a $1 million gain from a minority investment.
Intermap Technologies (OTCQX: ITMSF), a leader in geospatial intelligence, announced key advancements in its risk management solution and an increase in client subscriptions in Europe. Allianz Technology added its Czech and Slovak operations to its contract, enhancing the use of Intermap's cloud-based risk assessment for underwriting. Direct pojišťovna upgraded to the latest Aquarius RMA with improved analytics and unlimited user access. Additionally, Pojišťovna VZP adopted the upgraded cloud software for better risk assessments, showcasing Intermap's ongoing growth in the European insurance sector.
Intermap Technologies (OTCQX: ITMSF), a leader in geospatial content development, will present at the 2022 Virtual Growth Conference from March 28-30, 2022. CEO Patrick A. Blott will represent the company, showcasing its advanced geospatial intelligence solutions, including 3D terrain data and models. The conference, hosted by Maxim Group LLC on M-Vest, runs daily from 9:00 am - 5:00 pm Eastern. It will feature presentations from executives across various sectors. For more details, view here.
Intermap Technologies, a leader in geospatial intelligence, has completed a private placement raising C$2,044,227 through the issuance of 4,008,288 Class A common shares at C$0.51 each. The placement was backed by both long-standing and new investors, including a significant U.S. institutional investor. The funds will enhance Intermap's capital structure, enabling growth through new opportunities and expansion of existing contracts. The Company plans to announce its audited year-end financial results by the end of March 2022.
Intermap Technologies (OTCQX: ITMSF) announced the delivery of its commercial elevation data and analytics to Ukraine's Ministry of Defense on March 18, 2022. This initiative aims to enhance situational awareness and support military operations by providing high-resolution NEXTMap® data. CEO Patrick A. Blott emphasized the company's commitment to supporting Ukraine and its allies with critical information to assist decision-makers. The firm also noted the inherent risks associated with forward-looking statements regarding its operations and market conditions.
Intermap Technologies announced strong performance for its U.S. flood insurance risk assessment solution, InsitePro, with key client renewals and a new client acquisition in 2022. Notable metrics include an Annual Gross Retention (AGR) rate of 96% and an Annual Net Retention (ANR) rate of 114%. The U.S. flood insurance market presents over $5 billion in unwritten premium opportunities, indicating growth potential for InsitePro. The software enhances data access for underwriters, reducing reliance on GIS experts.
Intermap Technologies (OTCQX: ITMSF) announced the extension of its contract with Allianz Technology SE to provide advanced geocoding services for insurance underwriting in Europe. This new agreement enhances Allianz's risk assessment capabilities by incorporating additional parcel data geocoding and updated flood hazard maps, supporting consistent underwriting across multiple regions. Intermap's European cloud-based subscriptions have grown to represent 72% of its European revenue, with a 13% CAGR since 2019, highlighting the company's strong position in the geospatial intelligence market.
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