Intermap Technologies Corporation (ITMSF) appointed Terry Ryan to its board of directors. Ryan has held senior roles in defense technology companies and federal intelligence organizations, including serving as CEO and director of Constellis; he continues to support Constellis’ global operations and LEXSO platform as Executive Vice Chairman. To facilitate Ryan’s appointment before the next annual meeting, Philippe Frappier agreed to step down as a director and continue as a board observer and advisor during the interim. Intermap expects Frappier to be nominated for election with the existing directors at the next annual meeting. The company said Ryan’s appointment supports its continued investment in integrating airborne and spaceborne geospatial intelligence across multi-domain operations.
Intermap Technologies Corporation (ITMSF) completed its acquisition of all issued and outstanding shares of PCI Geomatics Group Inc. not already owned by Intermap and its affiliates on October 7, 2026, for aggregate consideration of C$11,000,000 in cash, less certain transaction expenses. The court-approved plan of arrangement made PCI a wholly owned Intermap subsidiary.
The arrangement provides for post-closing purchase price adjustments relating to transaction expenses, with $150,000 of the purchase price to be held in escrow for related obligations to Intermap. A further $1,100,000 of the purchase price is to be held in escrow for indemnity obligations to Intermap. June McAlarey continues as PCI’s President and CEO and is also Intermap’s Executive Vice President, responsible for commercial business.
Intermap Technologies Corporation (ITMSF) completed its acquisition of all outstanding shares of PCI Geomatics Group Inc. that it did not already own on October 7, 2026, using $7.7 million of cash. The acquisition adds more than 30,000 installed licenses across over 150 countries and extends Intermap’s capabilities into optical image processing and distributed edge processing, with SAR processing opportunities for PCI software. Intermap expects the deal to double recurring revenue.
For the year ending December 31, 2027, Intermap expects commercial revenue of $12–$15 million and Adjusted EBITDA of approximately $5 million, with 50%+ contribution margins. The outlook assumes no contribution from government procurements, which have uncertain timing, including in Indonesia; those programs will not factor into revenue guidance this year or next, prior to their contract award. At closing, available liquidity was approximately $14 million, excluding more than $150 million of third-party credit support arranged for Indonesia’s outstanding and binding RFB procurement. Intermap intends to develop solutions connecting PCI’s image processing with its AI/ML models, SAR processing technologies and archive to generate decision-ready intelligence within customers’ existing workflows.
Intermap Technologies Corporation (ITMSF) said PCI Geomatics Group Inc. (CATALYST) shareholders approved Intermap’s acquisition of the PCI shares it does not already own. The arrangement covers all issued and outstanding PCI shares not already held by Intermap. At the September 25, 2026 special meeting, approval received 99.99% of votes cast by shareholders present in person or by proxy voting as a single class; 99.99% of votes cast by common shareholders, excluding votes cast by certain PCI officers and/or directors; and 100% of votes cast by holders of Series B first preferred shares and special shares.
The arrangement is subject to approval from the Ontario Superior Court of Justice (Commercial List). The anticipated hearing date for the court’s final order was September 28, 2026. Completion is expected mid-October 2026, subject to obtaining that order and satisfaction or waiver of conditions in the July 28, 2026 arrangement agreement among Intermap, PCI and Grenadier Investments Limited. PCI develops software and systems for remote sensing and imagery processing, with more than 30,000 licenses in over 150 countries.
Intermap Technologies Corp. (ITMSF) announced a three-year subscription agreement with Colonnade Insurance S.A., owned by Fairfax Financial Holdings, for an integrated flood risk and property valuation solution. The subscription starts in the Czech Republic, with planned expansion to Slovakia and Hungary in 2027 and an objective to extend across Central and Eastern Europe by 2028.
The solution combines flood exposure, market value and replacement value in a single workflow to support residential underwriting, portfolio review and customer-facing processes. It advances Intermap’s strategy to grow recurring subscription revenue in the global insurance market, leveraging its proprietary 3D geospatial data covering more than 300 million square kilometers across more than 150 countries.
Intermap Technologies Corporation reported the appointment of John T. McNamara, a former senior U.S. diplomat and U.S. Army Special Forces officer, to the Board of Advisors of Intermap Federal Services, Inc. He will advise on strategic growth, government partnerships and international programs in support of the company’s federal and international geospatial intelligence business.
The company highlights that McNamara’s four decades of experience in diplomacy, defense and international affairs are expected to help expand relationships with U.S. and allied government customers and apply Intermap’s geospatial intelligence platform to national security, infrastructure resilience and economic development use cases. Intermap reiterates its positioning as a global provider of proprietary 3D data and AI-driven analytics, supporting mission-critical decision-making across government and commercial markets.
Intermap Technologies Corporation reported weaker results for the quarter and six months ended June 30, 2026. Q2 2026 revenue was $2.0 million, down from $3.0 million, and six‑month revenue was $3.4 million versus $7.3 million, primarily because Acquisition Services revenue from Indonesia fell to nil due to delayed follow‑on awards. Value‑added data revenue rose to $0.7 million in Q2 and $1.0 million year‑to‑date, while software and solutions revenue held around $1.3 million in Q2.
Operating loss widened to $2.0 million in Q2 and $4.8 million year‑to‑date, with net loss of $5.1 million for the first half and negative Adjusted EBITDA of $3.5 million, reflecting lower revenue, higher personnel costs and increased investment in aircraft, radar, processing and AI capabilities. Cash decreased to $16.2 million, total assets were $26.0 million, and shareholders’ equity was $17.6 million as the company repurchased share‑based awards and funded capex.
Intermap signed a definitive agreement to acquire PCI Geomatics, a privately held image‑processing company, for C$11 million in cash, expected to close by the end of Q3 2026, aiming to create a vertically integrated geospatial intelligence platform. The financial statements are prepared on a going concern basis, and management highlights a growing pipeline across government and commercial markets while acknowledging that timing of the Indonesia contract remains the key variable for 2026 results.
Intermap Technologies Corporation agreed to acquire all remaining shares of PCI Geomatics Group Inc. it does not already own under a court-approved plan of arrangement governed by the Canada Business Corporations Act. Intermap will pay aggregate cash consideration of $11,000,000, subject to transaction expenses and post-closing purchase price adjustments.
The structure includes an $150,000 adjustment escrow for transaction expenses and a separate $1,100,000 indemnity escrow for customary representations, warranties and covenant indemnities. Intermap already holds all PCI Series B preferred shares and 3.3% of PCI common shares. PCI’s CEO, June McAlarey, will remain PCI President and CEO and also serve as an Intermap Executive Vice President responsible for commercial business.
The deal requires approval by at least two-thirds of PCI shareholder votes, a separate simple-majority vote excluding certain related parties under Multilateral Instrument 61-101, approval by the Ontario Superior Court of Justice (Commercial List), and other customary conditions. Voting support agreements cover holders of 81.25% of PCI shares entitled to vote (excluding Intermap’s holdings). Non-solicitation covenants restrict PCI and Grenadier from soliciting competing transactions, and the agreement may be terminated if closing does not occur by November 30, 2026 or upon specified breaches or a material adverse effect.
Intermap Technologies Corporation reported the appointment of J. Michael Rolland to its Board of Directors. Rolland has extensive experience financing strategically important global infrastructure, including leadership roles at OMERS, where he was CEO of the Ontario Municipal Employees Sponsors Corporation and previously led OMERS Private Markets, OMERS Asia Pacific and Borealis Infrastructure.
The company states that his background in infrastructure, long-term investment platforms and relationships with governments and institutional investors is expected to support Intermap’s efforts to expand its financing capabilities, broaden access to capital and grow its global geospatial intelligence business. Intermap highlights its proprietary 3D data and AI-driven analytics platform, which covers more than 300 million square kilometers across over 150 countries, as the foundation for its government and commercial solutions.
Intermap Technologies Corporation announced that it plans to release its second quarter 2026 financial results after market close on August 13, 2026. Following the release, Chairman and CEO Patrick A. Blott and CFO Jennifer Bakken will host a live webcast to review the results and answer investor questions.
The webcast is scheduled for 5:00 pm on August 13, 2026, with registration available online and a replay and supporting materials to be posted on the company’s investor relations webpage. Intermap describes itself as a global leader in geospatial intelligence, powered by proprietary 3D data and AI-driven analytics, with a data foundation spanning more than 300 million square kilometers across over 150 countries.