Intermap Technologies Corp Stock Price, News & Analysis

Intermap Technologies (OTCQX: ITMSF), a leader in geospatial intelligence, announced key advancements in its risk management solution and an increase in client subscriptions in Europe. Allianz Technology added its Czech and Slovak operations to its contract, enhancing the use of Intermap's cloud-based risk assessment for underwriting. Direct pojišťovna upgraded to the latest Aquarius RMA with improved analytics and unlimited user access. Additionally, Pojišťovna VZP adopted the upgraded cloud software for better risk assessments, showcasing Intermap's ongoing growth in the European insurance sector.

Intermap Technologies (OTCQX: ITMSF), a leader in geospatial content development, will present at the 2022 Virtual Growth Conference from March 28-30, 2022. CEO Patrick A. Blott will represent the company, showcasing its advanced geospatial intelligence solutions, including 3D terrain data and models. The conference, hosted by Maxim Group LLC on M-Vest, runs daily from 9:00 am - 5:00 pm Eastern. It will feature presentations from executives across various sectors. For more details, view here.

Intermap Technologies, a leader in geospatial intelligence, has completed a private placement raising C$2,044,227 through the issuance of 4,008,288 Class A common shares at C$0.51 each. The placement was backed by both long-standing and new investors, including a significant U.S. institutional investor. The funds will enhance Intermap's capital structure, enabling growth through new opportunities and expansion of existing contracts. The Company plans to announce its audited year-end financial results by the end of March 2022.

Intermap Technologies (OTCQX: ITMSF) announced the delivery of its commercial elevation data and analytics to Ukraine's Ministry of Defense on March 18, 2022. This initiative aims to enhance situational awareness and support military operations by providing high-resolution NEXTMap® data. CEO Patrick A. Blott emphasized the company's commitment to supporting Ukraine and its allies with critical information to assist decision-makers. The firm also noted the inherent risks associated with forward-looking statements regarding its operations and market conditions.

Intermap Technologies announced strong performance for its U.S. flood insurance risk assessment solution, InsitePro, with key client renewals and a new client acquisition in 2022. Notable metrics include an Annual Gross Retention (AGR) rate of 96% and an Annual Net Retention (ANR) rate of 114%. The U.S. flood insurance market presents over $5 billion in unwritten premium opportunities, indicating growth potential for InsitePro. The software enhances data access for underwriters, reducing reliance on GIS experts.

Intermap Technologies (OTCQX: ITMSF) announced the extension of its contract with Allianz Technology SE to provide advanced geocoding services for insurance underwriting in Europe. This new agreement enhances Allianz's risk assessment capabilities by incorporating additional parcel data geocoding and updated flood hazard maps, supporting consistent underwriting across multiple regions. Intermap's European cloud-based subscriptions have grown to represent 72% of its European revenue, with a 13% CAGR since 2019, highlighting the company's strong position in the geospatial intelligence market.

Intermap Technologies (OTCQX: ITMSF) has secured a two-year subscription for its NEXTMap® data as a service with a major U.S. clean energy company, enhancing the integration of geospatial intelligence for planning wind and solar projects. This partnership aims to streamline budgeting and permitting through high-quality elevation models, providing global coverage and improving project efficiency. The U.S. renewable energy sector continues to grow, with expectations for a 219 GW increase in capacity from 2021 to 2026, driven by the appeal of wind and solar energy.

Intermap Technologies (OTCQX: ITMSF) has expanded its relationship with Generali Group by adding Romania to its Aquarius flood risk subscription services. This marks Romania as the fourth Central Eastern European country included in the subscription, enhancing Generali's offerings with customized flood hazard maps. Additionally, MyNEMO has renewed its subscription for flood risk services in the Czech Republic. The company reported a 2.5x increase in European software subscription revenue since launching the cloud-based version of Aquarius in 2020, with a 10% boost in monthly recurring revenue from the Romania addition.

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.