Intermap Technologies Corporation reports developments in 3D geospatial products and intelligence solutions for insurance, government and commercial customers. Company updates include adoption of its AI-enabled Risk Assistant, property-level flood risk analytics, 3D elevation data, precision vector datasets and multi-peril hazard layers used in underwriting, property valuation, portfolio risk management and claims validation.
Recurring Intermap news also covers national mapping and flood-forecasting programs, government geospatial data infrastructure work, subscription and data revenue trends, quarterly and annual financial results, equity financing activity and securities registration matters. The company’s announcements connect operating performance to demand for elevation-as-a-service, risk modeling and large-scale geospatial programs.
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) announced it will release its Q3 2024 financial results after market close on Thursday, November 14, 2024. The company will host a live webinar at 4:30 pm ET / 2:30 pm MT on the same day, featuring CEO Patrick A. Blott, CFO Jennifer Bakken, and COO Jack Schneider. The webinar will include a review of results, company updates, and a Q&A session for investors. A recording and supporting materials will be available on the company's investor website.
Intermap Technologies announced that Česká podnikatelská pojišťovna (ČPP), a subsidiary of Vienna Insurance Group, has subscribed to its property valuation solution. This solution, developed with Dataligence, integrates Intermap’s data and analytics with Dataligence’s pricing and real estate databases to enhance real estate data transparency in the Czech market.
ČPP, a long-term user of Intermap’s Aquarius RMA, aims to improve underwriting accuracy using comprehensive flood and natural hazard maps. The solution addresses the growing demand for digitized property services, enabling precise online property valuations. Intermap’s proprietary datasets help insurers manage risk and improve underwriting margins.
Intermap emphasizes the importance of its services given recent natural disasters and the need for increased flood insurance coverage. The company is well-positioned to meet the rising demand for reliable insurance solutions in Europe.
Intermap Technologies, in partnership with CACI, has been selected as one of 10 qualified vendors for the National Geospatial-Intelligence Agency's (NGA) Luno A program. This initiative, valued at up to $290 million over five years, represents a significant increase from the original $29 million budget for the Economic Indicator Monitoring (EIM) effort.
Luno A aims to provide continually updated, low-latency foundation data to support critical national security indicators. The program will leverage commercial satellite data and integrate advanced computer vision and AI-driven geospatial intelligence to monitor economic activities, military capabilities, and environmental conditions.
Team CACI's platform will combine Intermap's patented IRIS™ processing suite with CACI's Feature Trace software, utilizing advanced geospatial AI/ML models to deliver precise, near-real-time feature datasets. This technology can generate insights for analysts and power DEM and map sheet updates through change detection of manmade and natural features.
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) has announced a strategic partnership with Aon’s Impact Forecasting to enhance underwriting, risk management, and portfolio modeling. This collaboration allows insurers to access Aon’s hazard and risk maps through Intermap’s solutions, covering the entire insurance cycle. The partnership aims to address the growing threat of natural catastrophe-insured losses, which surpassed $100 billion for the fourth consecutive year in 2023.
Generali CEE will be the first to integrate Aon’s Flood and Earthquake Hazard Datasets into Intermap’s Aquarius RMA solution. Intermap's commercial risk business has seen a 9% CAGR since 2021, with Aquarius RMA growing at over 35% due to increased flood risks. The business is projected to account for 25% of the company’s 2024 revenue. Intermap plans to expand its market in East Asia and the Pacific, where 65% of the population resides in high-risk flood zones.
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) has won a second phase in its prime contract with the U.S. Air Force to support the development of navigation solutions for GPS-denied environments. This phase is 5x the revenue of phase one. The U.S. Department of Defense is leveraging Intermap's commercial R&D, including its proprietary data and technology for assured positioning, navigation, and timing systems.
Intermap's unique capabilities include a global archive of precise, multi-frequency, multi-look SAR data. The company is developing plans for a future phase that could be materially larger and may lead to these capabilities becoming a program of record, such as Advanced Battlefield Management Systems (ABMS).
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) reported 125% revenue growth in Q2 2024, with revenue jumping to $3.6 million from $1.6 million in Q2 2023. The company achieved $0.9 million of EBITDA, $0.6 million of operating income, and $0.6 million of net income. Intermap's airborne platform began data collection for the Indonesian mapping program, and the company affirmed its 2024 revenue projections of $16-18 million with an adjusted EBITDA margin of approximately 25%.
Key highlights include:
- Total assets increased by $1.5 million to $6.0 million
- Successful completion of a LIFE offering, raising CAD $3.3 million
- Strong growth in government and commercial segments
- New contracts in Malaysia, Malawi, India, and Greece
- Expansion of subscriptions with major insurance and telecom clients
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) has closed the first tranche of its previously announced offering, issuing 2,770,000 shares at CAD$0.45 per share, raising CAD$1,246,500. The company plans to close a second tranche within two weeks at the same price, with a maximum total offering of 4,300,000 shares for CAD$1,935,000. Proceeds will fund projects including mapping Sulawesi for the Indonesian government and an expanded contract with the U.S. Air Force. The offering is subject to final TSX approval. CEO Patrick A. Blott noted strong investor demand and confidence in Intermap's opportunities in Malaysia, Indonesia, and the United States.
Intermap Technologies (TSX: IMP; OTCQB: ITMSF) has announced a private placement financing, offering up to 4,300,000 Class “A” common shares at C$0.45 per share, aiming to raise a maximum of C$1,935,000. The proceeds will fund contracts with the Indonesian government for mapping Sulawesi, a renewed contract with the U.S. Air Force, and other Southeast Asian agreements. The Finder, engaged for the placement, will receive a fee of 1% of gross proceeds and 6% of the common shares placed. The offering is expected to close by August 16, 2024. The company has upgraded its aircraft and IFSAR systems and acquired new hardware to support its strategic repositioning. These shares will be offered under exemptions in Canada and the USA, with the associated regulatory approvals pending. Further details are available in the Offering Document on the company’s website.
Intermap Technologies held its annual shareholders meeting on June 27, 2024, in Toronto. A total of 20,723,331 Class A common shares (49.17% of total outstanding) were represented. Shareholders voted in favor of all proposed actions, including the election of directors and the reappointment of KPMG LLP as auditors. The elected directors are Patrick A. Blott (91.01% votes for), Philippe Frappier (91.29% votes for), John (Jack) Hild (91.29% votes for), and Jordan Tongalson (91.27% votes for). Details are available on SEDAR+.
Intermap Technologies announced the renewal of a subscription with a major U.S. fixed wireless broadband provider for its NEXTWave™ telecommunications analytics platform. This renewal underscores the sustained value of NEXTWave in network planning and optimization.
Powered by Intermap's 3D digital surface and terrain models, NEXTWave offers fast and reliable line-of-sight and radio frequency signal propagation analyses between transmitters and antennas. It supports efficient network deployment by allowing network planners to explore new geographic markets, plan infrastructure placement, and compare antenna frequencies without purchasing elevation data. This results in significant cost and time savings.
Intermap's tools enable operators to be more efficient and competitive, utilizing high-resolution elevation data to model signal propagation accurately. This renewal highlights NEXTWave's role in supporting low latency networks and enhancing operational efficiency.