Intermap Technologies Corp Stock Price, News & Analysis

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.

Intermap Technologies (OTCQX: ITMSF) announced a contract with a Class 1 North American railway for flood and fire risk management using its NEXTWave Rail™ application. This solution leverages unique risk analytics for evaluating culvert and track vulnerabilities, aiming to prevent costly repairs following natural disasters. The approach combines the company's existing flood management technology, InsitePro®, to enhance safety and reduce expenses associated with track washouts and derailments. The new contract represents Intermap's strategic expansion into the railway sector, targeting infrastructure resilience.

Intermap Technologies has secured a new prime contract with the U.S. Air Force to assist the Air Force Research Laboratory in the development of navigation solutions for GPS-denied environments. This marks Intermap's eighth government contract in 2021, emphasizing its leadership in geospatial intelligence and navigation technology. The contract will enable the Air Force to utilize Intermap's extensive data and technology to improve positioning, navigation, and timing for military operations, enhancing multi-domain capabilities and ensuring mission success.

Intermap Technologies (OTCQX: ITMSF) reported a strong 19% sequential revenue growth in Q3 2021, achieving $1.4 million in revenue, up from $1.2 million last quarter and $0.9 million in Q1 2021. Software subscription revenue surged by 137%, reaching $0.4 million. The company is on track for deployment in Southeast Asia and was selected for the USGS GPSC4 contract, valued at $850 million. Liquidity stands at $2.7 million. The CEO expressed optimism for continued momentum through the end of 2021 and beyond.

Intermap Technologies (OTCQX: ITMSF) announced an expansion of its contract with TATA Communications to enhance wireless telecommunications in major Indian cities. The deal is projected to generate at least $3 million in recurring revenue over the next 24 months. Intermap's proprietary IRIS technology will provide high-resolution geospatial data to facilitate network expansion while addressing unique challenges in India’s terrain. The global GIS telecom market is expected to grow significantly, presenting additional opportunities for Intermap's elevation data as a service solutions.