Intermap Technologies Corp Stock Price, News & Analysis

Intermap Technologies (OTCQX: ITMSF) reported a remarkable 64% revenue growth for the nine months ending September 30, 2022, totaling $5.6 million. The latest quarter saw a 50% increase in subscription revenue, which now constitutes 46% of total revenue, underpinned by new pre-paid software subscriptions. Although the company affirmed its full year revenue growth guidance of 15% - 20%, quarterly revenue declined to $1.2 million due to booking delays from government transitions.

Intermap Technologies has announced a new contract with Skyroads AG and cloudeo AG, integrating its certified aviation terrain data, NEXTView™, into Skyroads' Automated Airspace Management and Vehicle Guidance System. This partnership aims to enhance safety and efficiency for autonomous vehicles navigating urban environments. NEXTView is the only aviation-certified terrain data on the market, ensuring safe UAV operations. The collaboration supports the growing demand for urban air mobility by providing critical technology for automated systems.

Intermap Technologies (OTCQX: ITMSF) announced multiyear contracts with members of the Czech Association of Insurers, valued at USD 3.1 million. The agreements include significant upfront payments and five-year recurring subscriptions for flood risk software, Aquarius RMA, and precision flood hazard maps. With the Czech insurance market valued at USD 7.9 billion and expected to grow at a CAGR of 6.5%, these contracts are projected to increase monthly recurring revenue by 21%. This move supports the industry's need for enhanced climate resilience amid increasing global flooding.

Intermap Technologies (OTCQX: ITMSF) announced it has joined the FGS LLC Team as a subcontractor for the U.S. Air Force's $950 million Advanced Battle Management System (ABMS) contract. This IDIQ contract has a five-year term and supports the development of Joint All Domain Command and Control (JADC2) systems. Additionally, Intermap delivered a favorable interim progress report under its U.S. Air Force Research Laboratory contract focused on GPS-independent navigation solutions. The ABMS program aims to enhance military connectivity and operational efficiency among various service branches.

Intermap Technologies (OTCQX: ITMSF) announced a partnership with Deloitte Advisory and Dataligence to offer a new solution for real estate price calculations aimed at insurance underwriting in the Czech market. This integration uses Intermap's Aquarius RMA service and Dataligence's Price Map Calculator to improve real estate data transparency. Generali Česká pojišťovna becomes the first subscriber to this service, which aims to simplify and accelerate insurance transactions. Intermap reports a 34% increase in monthly recurring revenue from insurance solutions in Europe in the first half of 2022.

Intermap Technologies (OTCQX: ITMSF) announced a 33% annual increase in its NEXTWave™ telecom analytics subscription from a major mobile phone and internet services provider. This client has significantly expanded its use of Intermap's RF link profile analytics by 191% since 2019, showcasing the growing demand for accurate data in 5G network planning. Intermap's chairman emphasized the company's capability to meet increasing telecom needs with reliable analytics.

Intermap Technologies has secured a new contract to provide NEXTMap® elevation data and analytics to a major solar energy company. This scalable service will aid in solar farm planning and site assessment, enhancing efficiency and minimizing costs. The global solar power market is projected to grow significantly, reaching $293.18 billion by 2028. Intermap's solutions assist renewable energy companies in prioritizing promising sites while reducing the need for expensive surveys. Recent contracts underscore the company's expansion into the renewable sector, generating recurring high-margin revenue.

Intermap Technologies (OTCQX: ITMSF) has partnered with Generali Romania to enhance flood risk assessment capabilities using Intermap's Aquarius RMA solution. This collaboration allows Generali to utilize comprehensive flood hazard maps created from high-resolution digital terrain and hydrology data, covering over 90,000 km along Romanian rivers. The initiative aims to optimize insurance processes, help clients with risk management, and adapt to increasing climate-related risks, including more frequent flooding events globally.

Intermap Technologies (OTCQX: ITMSF) has partnered with Lufthansa Systems to join the OneSky Future of Flight program aimed at enhancing flight safety through innovative technology integration. This collaboration will leverage Intermap's high-resolution terrain data, culminating in the development of NEXTView, the aviation industry's first aviation-certified terrain model. NEXTView combines Intermap's global surface models with Lufthansa's airport database, enabling superior data analytics for Unmanned Aerial Vehicle (UAV) operations. This initiative supports evolving safety standards in the UTM and AAM sectors.