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