Operating cash flow grew 22% in the first half of the year
Company reaffirms projected 2025 revenue of $30–35 million and 28% EBITDA margin
Conference call today at 5:00 pm ET to discuss results
DENVER, Aug. 14, 2025 (GLOBE NEWSWIRE) — Intermap Technologies (TSX:IMP, OTCQB:ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial intelligence solutions, today announced its financial results for the three months ended June 30, 2025.
Second quarter revenue declined year over year from $3.6 million to $3.0 million due to timing effects from Indonesia and a commercial contract.
The Company generated $2.1 million of operating cash flow during the quarter compared with a use of $500 thousand in the second quarter of 2024. Operating cash flow for the six months ended June 30, 2025 of $1.4 million increased 22% over the same period in 2024.
In Acquisition Services, results include demobilization and other pursuit costs associated with Indonesia’s Integrated Land Administration and Spatial Planning (ILASP) initiative. During the quarter, Indonesia completed its funding agreement with the World Bank, released a Draft Request for Proposals (RFP) for public comments, including World Bank requirements, and announced the U.S.–Indonesia trade agreement, specifically strengthening the opportunity for greater digital trade, services and investment in the country. Intermap has been a reliable, long-term investor in Indonesia with a permanent operation there and track record of capacity building and technology investment.
During the quarter, the Company added to its pipeline of global government business. Intermap’s pipeline includes several new multi-year opportunities with priorities across Southeast Asia, North America, South America and the Middle East. While recent U.S. Department of Defense (DOD) budget adjustments affected the timing of certain programs during the quarter, none of Intermap’s DOD contracts experienced a reduction in funding ceilings as a result of the Department of Government Efficiency (DOGE) review.
Intermap’s commercial insurance business continues to grow driven by AI/ML innovation. During the quarter, the Company began implementing with several clients its Insurance Risk Assistant Subsystem (IRAS), an agentic AI-driven SaaS solution that mitigates basis risk for insurers. This new and innovative product, developed over a 10-year period, improves property risk evaluation with authoritative data integration, advanced geospatial analytics and automation, supporting flood, fire, seismic, and wind vulnerability analysis, reducing underwriting errors, and improving claim predictability by up to 30%, while meeting regulatory requirements such as the EU’s General Regulatory Data Protections Requirements (GDPR).
Reflecting the successful issuance …