Intermap Technologies Demonstrates Growth Through Strategic Initiatives
Operating cash flow surged by 22% in the first half.
Company confirms 2025 revenue expectation between $30 and $35 million, along with a steady EBITDA margin of 28%.
Join the live discussion of results at 5:00 pm ET today.
Intermap Technologies (TSX: IMP; OTCQB: ITMSF), a global leader in 3D geospatial intelligence solutions, recently released its financial report for the second quarter, ending June 30, 2025. The company reported a decrease in quarterly revenues from $3.6 million in the previous year to $3.0 million, primarily due to timing impacts associated with certain contracts in Indonesia.
This quarter, Intermap generated operating cash flow of $2.1 million, a stark contrast to a cash outflow of $500,000 during the same period last year. Over the first six months of 2025, operating cash flow rose by 22%, totaling $1.4 million compared to the previous year.
In its Acquisition Services sector, the company faced demobilization costs linked to its Integrated Land Administration and Spatial Planning (ILASP) initiative in Indonesia. During this timeframe, Indonesia made significant progress, securing a funding agreement with the World Bank and releasing a Draft Request for Proposals (RFP) for public input, aligning with World Bank standards. This effort reflects Intermap's enduring commitment to investing in Indonesia, marked by its long-standing operations and emphasis on technological advancement in the region.
The company’s global government business pipeline continues to expand, showcasing multiple new multi-year opportunities across Southeast Asia, North America, South America, and the Middle East. Although recent budget adjustments by the U.S. Department of Defense (DOD) caused some delays in program timelines, there were no reductions in funding for any of Intermap’s DOD contracts, ensuring the company’s stability in this sector.
Intermap’s innovative approach in the commercial insurance industry is steadily gaining traction. The launch of its Insurance Risk Assistant Subsystem (IRAS), a cutting-edge AI-driven SaaS solution, aims to reduce underwriting errors and improve claims prediction significantly. This revolutionary product not only enhances risk evaluation but also meets stringent regulatory frameworks, enhancing its appeal among insurers.
During this quarter, Intermap settled approximately $1.2 million in non-recurring liabilities. As a result, earnings per share were stable at $0.01, while working capital improved to $3.6 million, demonstrating the company’s commitment to sound financial management. Liquid assets reached $8.6 million, substantially increasing from $3.8 million at the end of 2024, promoting financial agility moving forward.
The company remains focused on advancing crucial GEOINT products and technology to enhance national security, risk management, and data infrastructure modernization globally.
Outlook for 2025
Intermap reiterated its predicted revenue for 2025, projecting a range between $30 million and $35 million, while maintaining an EBITDA margin of 28%. The company does not provide quarterly forecasts, opting instead to focus on meeting its annual expectations. Key risks include the timing of government contract tenders and the commercial rollout of new product offerings.
Quarterly Financial Statements
Intermap’s consolidated financial documents for the quarter ending June 30, 2025, along with the management discussion and analysis, will be available on SEDAR+ and the SEC EDGAR website on the date of the report release today.
Conference Call Insights
Intermap’s CEO, Patrick A. Blott, along with CFO, Jennifer Bakken, will participate in a live webinar at 5:00 pm ET to delve into the second quarter results, providing updates and addressing questions from shareholders and analysts. This interactive session is open to all stakeholders who wish to learn more about the company’s performance and strategic direction.
Frequently Asked Questions
What were Intermap's revenues in the second quarter of 2025?
Intermap reported revenues of $3.0 million for the second quarter, down from $3.6 million the previous year.
How much did Intermap's operating cash flow increase?
Operating cash flow increased by 22% in the first half of 2025, totaling $1.4 million.
What are Intermap's revenue expectations for 2025?
Intermap expects revenue to fall between $30 million and $35 million for the year.
What significant developments happened in Indonesia during this quarter?
Indonesia secured funding from the World Bank and issued a Draft Request for Proposals related to the Integrated Land Administration and Spatial Planning initiative.
When is the conference call to discuss the results?
The conference call will take place today at 5:00 pm ET, hosted by Intermap's CEO and CFO.
