Significant Revenue Growth
Intermap reported $17.6 million in total revenue for 2024, up 185% compared to 2023. The company also achieved a Q4 revenue of $7.4 million, a 500% increase from the previous year.
Improved Profitability
The company reported an adjusted EBITDA of $4.1 million for the full year, marking a 23% margin, compared to an adjusted EBITDA loss in 2023. Q4 EBITDA margin was 27%.
Successful Execution of Contracts
Intermap's execution on key contracts, including a $20 million project in Indonesia, was highlighted as a significant achievement. The company completed 60% of the first phase by year-end and is pursuing follow-on awards.
Strong International Revenue
Approximately 80% of consolidated revenue in 2024 was generated outside the United States, reflecting Intermap's strong international presence.
Increased Net Income
The company reported a net income of $2.5 million for 2024, a significant improvement from a $3.7 million net loss in 2023.
Strategic Partnerships and Contracts
Intermap expanded its Air Force and Pentagon contracts and partnered with a major dual-use space launch and satellite provider, reflecting its strategic growth in key sectors.