Intermap Reports Second Quarter 2025 Results
Rhea-AI Summary
Intermap Technologies (OTCQB: ITMSF) reported mixed Q2 2025 results, with revenue declining to $3.0 million from $3.6 million year-over-year. However, operating cash flow showed significant improvement, growing 22% in H1 2025 to $1.4 million. The company successfully raised capital through a 5.3 million share issuance at C$2.25 per share in February 2025, improving working capital to $3.6 million and liquidity to $8.6 million.
Despite Q2 challenges, Intermap reaffirmed its 2025 revenue guidance of $30-35 million with a projected 28% EBITDA margin. The company's commercial insurance business is expanding through AI/ML innovation, particularly with the implementation of its Insurance Risk Assistant Subsystem (IRAS), which improves property risk evaluation and claim predictability by up to 30%.
[ "Operating cash flow grew 22% in H1 2025 to $1.4 million", "Working capital improved to $3.6 million with liquidity increasing to $8.6 million", "Successful capital raise through 5.3 million share issuance at C$2.25/share", "New IRAS product improves claim predictability by up to 30%", "Company maintains strong 2025 guidance of $30-35M revenue with 28% EBITDA margin" ]Positive
- None.
Negative
- Q2 revenue declined to $3.0M from $3.6M year-over-year
- U.S. Department of Defense budget adjustments affected program timing
- Non-recurring accrued liabilities and payables settlement of $1.2M
- Timing effects from Indonesia and commercial contracts impacted quarterly results
News Market Reaction
On the day this news was published, ITMSF gained 2.05%, reflecting a moderate positive market reaction.
Data tracked by StockTitan Argus on the day of publication.
Operating cash flow grew
Company reaffirms projected 2025 revenue of
Conference call today at 5:00 pm ET to discuss results
DENVER, Aug. 14, 2025 (GLOBE NEWSWIRE) -- Intermap Technologies (TSX: IMP; OTCQB: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial intelligence solutions, today announced its financial results for the three months ended June 30, 2025.
Second quarter revenue declined year over year from
The Company generated
In Acquisition Services, results include demobilization and other pursuit costs associated with Indonesia’s Integrated Land Administration and Spatial Planning (ILASP) initiative. During the quarter, Indonesia completed its funding agreement with the World Bank, released a Draft Request for Proposals (RFP) for public comments, including World Bank requirements, and announced the U.S.–Indonesia trade agreement, specifically strengthening the opportunity for greater digital trade, services and investment in the country. Intermap has been a reliable, long-term investor in Indonesia with a permanent operation there and track record of capacity building and technology investment.
During the quarter, the Company added to its pipeline of global government business. Intermap’s pipeline includes several new multi-year opportunities with priorities across Southeast Asia, North America, South America and the Middle East. While recent U.S. Department of Defense (DOD) budget adjustments affected the timing of certain programs during the quarter, none of Intermap’s DOD contracts experienced a reduction in funding ceilings as a result of the Department of Government Efficiency (DOGE) review.
Intermap’s commercial insurance business continues to grow driven by AI/ML innovation. During the quarter, the Company began implementing with several clients its Insurance Risk Assistant Subsystem (IRAS), an agentic AI-driven SaaS solution that mitigates basis risk for insurers. This new and innovative product, developed over a 10-year period, improves property risk evaluation with authoritative data integration, advanced geospatial analytics and automation, supporting flood, fire, seismic, and wind vulnerability analysis, reducing underwriting errors, and improving claim predictability by up to
Reflecting the successful issuance of 5.3 million shares for C
The Company continues to focus on delivering priority GEOINT products and technology in mission-critical areas and geographies of the world where Intermap’s exquisite solutions advance national security, risk management, navigation, data infrastructure modernization and digital data transformation.
Outlook
Intermap reaffirms its previously projected 2025 revenue of
Quarterly Filing
The Company’s consolidated financial statements for the quarter ended June 30, 2025, along with management’s discussion and analysis for the corresponding period and related management certifications for the second quarter financial results, will be filed on SEDAR+ at www.sedarplus.ca and on the SEC’s EDGAR website at SEC.gov on August 14, 2025.
Adjusted EBITDA is a non-GAAP measure. The term earnings before interest, taxes, depreciation and amortization (EBITDA) consists of net loss and excludes interest (financing costs), taxes, and depreciation. Adjusted EBITDA also excludes share-based compensation, fair value adjustments and foreign currency translation. See “Reconciliation of Non-GAAP Measures” in Company’s Management’s Discussion and Analysis filed on SEDAR+ at www.sedarplus.ca and on the SEC’s EDGAR website at SEC.gov.
Conference Call Details
Intermap’s CEO Patrick A. Blott and CFO Jennifer Bakken 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 second quarter results.
DATE Thursday, August 14, 2025
TIME 5:00 pm ET
WEBCAST Register
Learn more about Intermap here.
Intermap Reader Advisory
Certain information provided in this news release, including reference to revenue growth, EBITDA margin, future contracting, 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
FAQ
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