Intermap Announces 2024 Results and 2025 Guidance
Company reports 2024 revenue of $17.6 million, net income of $2.5 million
Company projects 2025 revenue of $30, 35 million and an adjusted EBITDA margin of ~28%
Conference call today at 5:00 pm ET to discuss results and guidance
DENVER, March 27, 2025 (GLOBE NEWSWIRE) -- Intermap Technologies (TSX:IMP, OTCQB:ITMSF) ("Intermap" or the "Company"), a global leader in 3D geospatial products and intelligence solutions, today announced 2024 results and 2025 guidance.
For the full year ending December 31, 2024 (unaudited)
Revenue of $17.6 million, compared with $6.2 million in 2023
Acquisition Services revenue of $10.5 million versus nil in 2023
Value-added Data revenue of $3.1 million, compared with $1.9 million in 2023
Software and Solutions revenue of $4.0 million, compared with $4.3 million in 2023
23% adjusted EBITDA margin
Net income of $2.5 million, compared with net loss of $3.7 million in 2023
For the fourth quarter ending December 31, 2024 (unaudited)
Revenue of $7.4 million, compared with $1.2 million in the fourth quarter of 2023
Acquisition Services revenue of $5.5 million versus nil in the fourth quarter of 2023
Value-added Data revenue of $1.0 million versus $0.3 million in the fourth quarter of 2023
Software and Solutions revenue of $1.0 million, compared with $.9 million in the fourth quarter of 2023
27% adjusted EBITDA margin
Net income of $1.5 million, compared with a net loss of $1.0 million in the fourth quarter of 2023
"2024 reflects a significant inflection point for Intermap. We secured major contract wins and reported revenue and EBITDA at the high end of our guidance," said Patrick A. Blott, Intermap Chairman and CEO. "Our 2025 guidance reinforces our commitment to sustainable growth and market leadership, and the C$12 million equity financing that we closed in February gives us the balance sheet to execute on our existing government contracts and advance new opportunities in our pipeline."
2024 government wins
Major Indonesian mapping contract
Water resources management in Malaysia
Phase Two with the U.S. Air Force
Major NGA data contract (Luno A)
Subcontract for subterranean operations
2024 commercial achievements
Expanded presence in European insurance market
Secured landmark telecom renewal
Received new subscriptions to real estate pricing solution