Intermap Reports First Quarter 2026 Results
Rhea-AI Summary
Intermap Technologies (OTCQB: ITMSF) reported Q1 2026 revenue of $1.4 million, with recurring subscription and data revenue exceeding 80% of total. Operations were near break-even excluding repurchase of dilutive securities, foreign currency and deferred revenue effects.
Intermap highlighted growing global enterprise adoption of its AI-enabled, data-as-a-service platforms, led by its agentic AI Risk Assistant. The government opportunity pipeline, including Indonesia and U.S. federal programs, remains active and funded. The company ended the quarter with $18.8 million in cash and $16.3 million in working capital.
Intermap reaffirmed its 2026 guidance of $30–35 million in revenue and a 28% EBITDA margin, noting that timing of government awards and revenue recognition can vary.
AI-generated analysis. Not financial advice.
Positive
- Q1 2026 revenue reported at $1.4 million
- Recurring subscription and data revenue exceeded 80% of total revenue
- Operations near break-even excluding repurchase, FX and deferred revenue effects
- Quarter-end cash balance of approximately $18.8 million
- Quarter-end working capital of approximately $16.3 million
- Growing enterprise adoption of AI-enabled Risk Assistant platform
- Active, funded government pipeline including Indonesia and U.S. federal opportunities
- 2026 guidance reaffirmed at $30–35 million revenue and 28% EBITDA margin
Negative
- No Q1 revenue recognized from large government programs
- Operating results impacted by repurchase of dilutive securities, foreign currency and deferred revenue
- Revenue timing dependent on government procurement and contracting cycles
News Market Reaction – ITMSF
On the day this news was published, ITMSF declined 3.75%, reflecting a moderate negative market reaction.
Data tracked by StockTitan Argus on the day of publication.
Recurring subscription and data revenue exceeds
Operations near break-even excluding timing and financing related items
Enterprise adoption of data-as-a-service platform expands globally, driven by Agentic AI Risk Assistant
Government pipeline remains active, funded and positioned for conversion
Company affirms guidance of
DENVER, May 13, 2026 (GLOBE NEWSWIRE) -- Intermap Technologies (TSX: IMP; OTCQB: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial products and intelligence solutions, today reported its financial results for the first quarter ended March 31, 2026.
Intermap continued to scale its recurring subscription and data revenue in the first quarter, which represented more than
Total revenue for the first quarter was
The Company’s pipeline of large government opportunities, including Indonesia and U.S. federal opportunities, is expected to convert into revenue as procurement and contracting processes advance.
For the first quarter, operating results were affected by the repurchase of dilutive securities, foreign currency and deferred revenue effects. Excluding these items, the Company operated near break-even during the quarter.
The Company continued to invest in personnel, infrastructure and deployment readiness in support of its tendering commitments under international programs, including Indonesia’s World Bank funded program. Intermap ended the quarter with cash of approximately
“In the first quarter, we continued to scale our recurring subscription and data business while advancing our government pipeline,” said Patrick A. Blott, Chairman and CEO. “We continue to maintain readiness for large international deployments, while expanding a funded government pipeline and enterprise adoption of our AI-enabled, data-as-a-service analytics.”
On the commercial side, the Company continues to invest in infrastructure, data processing capacity and security enhancements to support scalable delivery and execution of its platform.
Intermap remains focused on converting large government opportunities into awarded and recognized revenue, supported by long-term government priorities, including national security and data sovereignty, which underpin sustained demand.
2026 Guidance Reiterated
Intermap reaffirms its previously announced 2026 guidance of
Quarterly Filings
The Company’s consolidated financial statements for the quarter ended March 31, 2026, together with management’s discussion and analysis, will be filed on SEDAR+ and EDGAR.
Conference Call Details
Intermap’s Chairman and CEO Patrick A. Blott and CFO Jennifer Bakken will host a live webinar on Wednesday, May 13, 2026 at 5:00 pm ET to review results and provide an update.
DATE May 13, 2026
TIME 5:00 pm ET
WEBCAST Register
A replay and supporting materials will be available on the Company’s investor relations website.
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
