Intermap Technologies Corp Stock Price, News & Analysis

Intermap Technologies has successfully closed the first tranche of a private placement, raising approximately CAD$533,314 by issuing 613,005 Class A common shares at CAD$0.87 each. The funds will support general corporate purposes and growth. Additionally, 60,000 warrants were issued, each exercisable at USD$0.73 until April 27, 2023. The Toronto Stock Exchange has conditionally approved the transaction, with potential for additional shares to be issued before May 20, 2021. These securities remain subject to U.S. Securities Act restrictions.

Intermap Technologies (OTCQX: ITMSF) announces participation in a UAS proof of concept test in Dubai with DronSystems. This initiative integrates Intermap's NEXTView™, the first avionics-certified dataset, with DronSystems' DroNAV management platform, aiming to enhance commercial drone operations. The pilot demonstrates the capabilities of NEXTView in ensuring safe and efficient drone flights. The UTM market is projected to exceed $56 billion by 2027, with an 18.9% CAGR. This collaboration highlights Intermap’s positioning as a leader in the UAS market.

Intermap Technologies (OTCQX: ITMSF) will present live at VirtualInvestorConferences.com on April 15, 2021, at 12:00 PM ET. The event invites investors to engage with CEO Patrick A. Blott, asking questions in real-time. An archived webcast will be available for those who cannot attend live. Intermap specializes in geospatial intelligence solutions, operating in diverse markets, including government, drones, and telecommunications, with a market size of $552 billion. Recent advancements include partnerships for aviation datasets and wildfire modeling.

Intermap Technologies (OTCQX: ITMSF) reported a 10% increase in North American insurance monthly recurring revenue (MRR) since the end of 2020, driven by strong renewals of InsitePro subscriptions. The U.S. flood market presents over $5 billion in unwritten premium opportunities, with InsitePro assisting insurers in effective risk diversification. Additionally, the latest No-HARM wildfire model enhances flood and wildfire underwriting.

Despite COVID-19 challenges, Intermap's recurring revenue model continues to grow in both North America and Europe.

Intermap Technologies (OTCQX: ITMSF) reported its annual financial statements for 2020, revealing a decline in revenue to $4.7 million from $10.1 million in 2019 due to COVID-19 disruptions. However, net income rose to $26.6 million, thanks to a $32.1 million gain from debt modification. Software subscriptions grew 4%, with renewals at higher rates, while the government project pipeline expanded by 429%. Intermap remains optimistic for 2021, anticipating revenue and adjusted EBITDA growth despite ongoing pandemic impacts.

Intermap Technologies (OTCQX: ITMSF) announced that INFRAWAY in Brazil is using its NEXTMap One™ digital terrain model for airport infrastructure planning. This collaboration supports the government’s development studies by providing high-quality elevation data necessary for expansion plans. Intermap also offers orthorectification services for satellite imagery, achieving accuracies of up to 1 meter for 200 airports. The aviation market is expected to grow at an 18.9% CAGR, surpassing $56 billion by 2027, positioning Intermap for growth through advanced geospatial solutions.

On March 18, 2021, Intermap Technologies announced the appointment of Ralph Hope as Chief Technology Officer, aiming to enhance its financial services business. Hope, previously associated with BlackRock, brings extensive experience in developing financial technology. The company is growing its global financial solutions by integrating predictive analytics and alternative data, serving new European banking clients. Intermap is committed to expanding its presence in the financial market and investing in technology to support real-time data services, particularly for natural hazard risk assessment.

Intermap Technologies has made significant strides in the aviation and drone markets with its NEXTView™ solution, the world's only government-certified aviation-specific geospatial intelligence system. Recently, Wingcopter GmbH subscribed to NEXTView™, highlighting the growing demand for drone applications. The drone market is expected to grow at an 18.9% CAGR, surpassing $56 billion by 2027. The U.S. Department of Defense is investing over $6 billion in ISR operations, reflecting this upward trend. Intermap's partnership with Wingcopter positions the company favorably in this expanding market.