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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), 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.
Intermap Technologies (OTCQX: ITMSF) has secured a two-year subscription for its NEXTMap® data as a service with a major U.S. clean energy company, enhancing the integration of geospatial intelligence for planning wind and solar projects. This partnership aims to streamline budgeting and permitting through high-quality elevation models, providing global coverage and improving project efficiency. The U.S. renewable energy sector continues to grow, with expectations for a 219 GW increase in capacity from 2021 to 2026, driven by the appeal of wind and solar energy.
Intermap Technologies (OTCQX: ITMSF) has expanded its relationship with Generali Group by adding Romania to its Aquarius flood risk subscription services. This marks Romania as the fourth Central Eastern European country included in the subscription, enhancing Generali's offerings with customized flood hazard maps. Additionally, MyNEMO has renewed its subscription for flood risk services in the Czech Republic. The company reported a 2.5x increase in European software subscription revenue since launching the cloud-based version of Aquarius in 2020, with a 10% boost in monthly recurring revenue from the Romania addition.
Intermap Technologies reported a 22% increase in annual revenue for 2021, totaling $5.8 million. The fourth quarter saw a remarkable 149% year-over-year revenue growth and a 69% sequential increase, attributed to new government contracts and recovering commercial business. The firm announced a private placement to bolster its capital position and support ongoing projects, including a new contract for the NEXTView aviation product, enhancing automated aircraft landing capabilities. Liquidity as of December 31, 2021, was $1.7 million.
Intermap Technologies has licensed its SaaS flood risk assessment product, InsitePro, to a top-5 U.S. insurer, expanding its market presence. This move targets the 85% of U.S. homes currently uninsured against floods, representing a significant growth potential of over $5 billion in unwritten premiums. InsitePro enhances precision in flood risk pricing, enabling insurers to assess individual property risks accurately. The U.S. private flood market has grown at a CAGR of 20% since 2016, and Intermap continues to capitalize on this trend.
Intermap Technologies has secured a new contract with a major European airline to provide elevation data as a service, enhancing route planning through an online subscription model. This service enables on-demand access to high-resolution NEXTMap® elevation datasets, improving operational efficiency and reducing costs associated with data acquisition. The airline industry is rebounding post-pandemic, with expectations of market growth reaching $591 billion in 2022. Intermap's services support critical analyses for safer flight operations, leveraging cloud-based solutions for updated terrain data.
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