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Intermap Technology (TSE:IMP)
TSX:IMP
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Intermap Technology (IMP) AI Stock Analysis

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TSE:IMP

Intermap Technology

(TSX:IMP)

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Neutral 48 (OpenAI - 4o)
Rating:48Neutral
Price Target:
C$3.00
▲(10.29% Upside)
Intermap Technology's overall stock score is 48, driven primarily by financial performance challenges and high valuation concerns. While the earnings call highlighted some positive developments, such as improved liquidity and expansion opportunities in Indonesia, the declining revenue and high P/E ratio weigh heavily on the score. Technical analysis provides a neutral outlook, further supporting a cautious stance.

Intermap Technology (IMP) vs. iShares MSCI Canada ETF (EWC)

Intermap Technology Business Overview & Revenue Model

Company DescriptionIntermap Technologies Corporation, a geospatial intelligence company, provides various geospatial solutions and analytics in the United States, the Asia Pacific, and Europe. It offers Data-as-a-Service (DaaS) solutions, such as InsitePro, a configurable insurance underwriting software; and NEXTView, a configurable data solution that delivers terrain and obstacle awareness that enhance airborne safety. The company also provides geospatial data acquisition and production services; value-added data licensing; and software solutions and services. Its geospatial solutions are used in a range of applications, including location-based information, risk assessment, geographic information systems, engineering, utilities, global positioning systems maps, oil and gas, renewable energy, hydrology, environmental planning, land management, wireless communications, transportation, outdoor advertising, and 3D visualization. The company was founded in 1996 and is headquartered in Englewood, Colorado.
How the Company Makes MoneyIntermap Technologies makes money through the sale of its geospatial data products and subscription-based software services. The company's revenue model is primarily driven by licensing its digital elevation models and selling access to its geospatial analytics platforms. Key revenue streams include contracts with government agencies, commercial enterprises, and strategic partnerships with technology firms that integrate Intermap's data into their solutions. Additionally, the company generates income from custom mapping projects and consulting services, leveraging its expertise in geospatial technology to provide tailored solutions for specific client needs.

Intermap Technology Earnings Call Summary

Earnings Call Date:Aug 14, 2025
(Q2-2025)
|
% Change Since: |
Next Earnings Date:Nov 18, 2025
Earnings Call Sentiment Neutral
The earnings call reflects a balanced sentiment with both significant opportunities and challenges. While there are promising developments in Indonesia and solid commercial product advancements, revenue decline and currency volatility pose challenges.
Q2-2025 Updates
Positive Updates
Improved Liquidity and Financial Position
The company improved liquidity to $8.6 million from $3.8 million in December and reduced dilutive shares by 1.3 million. Current assets minus current liabilities improved to $3.6 million from a negative position last year.
Indonesia Program Expansion
The upcoming program in Indonesia is approximately 10 times larger than current operations. The draft RFP for mapping 1.6 million square kilometers has been published, with a budget of $195 million to $200 million, offering significant future revenue potential.
Increase in Cash from Operations
Cash generated from operations was $2.1 million for the quarter, representing a 22% growth over the comparable 6-month period in 2024.
Strong Commercial Business Performance
In Europe, the agentic AI product is driving record volumes of GEOINT consumption, leading to 70% higher pricing on average across the European portfolio.
New Product Launch - Insurance Risk Assistant Subsystem
The new AI/ML-driven SaaS solution, IRAS, mitigates risk and improves risk evaluation by up to 30% for specialty lines. It is compliant with EU's GDPR requirements.
Negative Updates
Decline in Revenue
Total revenue for the second quarter of 2025 was $3 million, down from $3.6 million in the second quarter of 2024, largely due to timing issues related to contract execution.
Decrease in Value-Added Data Revenue
Value-added Data revenue was $300,000, down from $700,000 in the second quarter of 2024, mainly due to timing differences in the delivery of repeating products.
Currency Charge in Indonesia
Intermap took approximately a $1 million currency charge due to volatility in the IDR-U.S. exchange rate, although this risk will be mitigated by World Bank funding in U.S. dollars going forward.
Company Guidance
During Intermap Technologies' second quarter 2025 conference call, CEO Patrick Blott reiterated the company's 2025 guidance for revenue between $30 million and $35 million, with an adjusted EBITDA margin of approximately 28%. The call highlighted a significant upcoming program in Indonesia, estimated to be approximately 10 times the size of current operations, with a 3-year tender covering 1.6 million square kilometers and a budget of $195 million to $200 million. In Q2 2025, Intermap generated $3 million in revenue, compared to $3.6 million in Q2 2024, due to timing differences in payments from Indonesia. Cash generated from operations was $2.1 million, a 22% increase over the first half of 2024, and liquidity improved to $8.6 million. The company also settled $1.2 million in nonrecurring liabilities and reduced dilutive shares by 1.3 million. Intermap is expanding its capacity and capabilities, investing $2 million in upgrading its processing platform in Indonesia, and is actively pursuing opportunities in Southeast Asia and other regions, with a strong focus on integrating advanced geospatial intelligence technologies.

Intermap Technology Financial Statement Overview

Summary
Intermap Technology's financials show a mixed picture. The income statement indicates revenue growth and a return to profitability, but operational efficiency needs improvement. The balance sheet is solid with low leverage and improving equity, yet cash flow challenges pose potential liquidity risks.
Income Statement
45
Neutral
Intermap Technology's income statement shows signs of recovery and growth. The TTM gross profit margin is approximately 23.96%, indicating efficient cost management compared to previous losses. The net profit margin for TTM is around 10.33%, which is a positive turn from past negative margins. Revenue growth is substantial, with a TTM increase of 14.66% over the annual 2024 figure, showing a strong recovery trajectory. However, EBIT and EBITDA margins have declined slightly in TTM, suggesting room for operational efficiency improvements.
Balance Sheet
55
Neutral
The balance sheet reveals a moderate financial position. The debt-to-equity ratio for TTM is approximately 0.10, indicating low leverage, which is a positive for financial stability. However, the equity ratio is 54.19%, suggesting a balanced but not overly strong equity position. Return on equity is a robust 20.06% in TTM, reflecting good profitability relative to shareholder equity. The increase in stockholders' equity to $10.42M from $3.74M in 2024 indicates significant equity growth.
Cash Flow
30
Negative
Cash flow analysis shows challenges, with negative operating and free cash flows in TTM, indicating potential liquidity strains. Operating cash flow to net income ratio is negative, suggesting current earnings do not translate into cash flows. The free cash flow to net income ratio is also negative, highlighting a gap between reported profits and cash generation. Despite negative free cash flow growth, the company has raised substantial financing, which could mitigate short-term cash flow concerns.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue19.69M17.64M6.20M6.79M5.80M4.72M
Gross Profit3.69M5.06M-1.54M3.98M2.87M2.45M
EBITDA2.04M3.65M-2.40M-3.46M-2.34M-2.83M
Net Income662.00K2.46M-3.70M-5.28M-3.36M26.53M
Balance Sheet
Total Assets13.84M11.94M4.54M6.33M7.45M7.64M
Cash, Cash Equivalents and Short-Term Investments7.79M445.00K677.00K843.00K188.00K1.78M
Total Debt906.00K1.19M1.10M1.17M1.22M1.44M
Total Liabilities5.97M8.20M8.10M7.75M6.60M6.16M
Stockholders Equity7.87M3.74M-3.56M-1.42M852.00K1.49M
Cash Flow
Free Cash Flow-2.85M-4.04M-1.02M-1.75M-3.88M-2.54M
Operating Cash Flow-1.54M-1.79M-602.00K-1.51M-2.49M-2.05M
Investing Cash Flow-1.31M-2.25M-421.00K-243.00K-1.39M-338.00K
Financing Cash Flow9.75M3.80M830.00K2.41M2.27M2.91M

Intermap Technology Technical Analysis

Technical Analysis Sentiment
Negative
Last Price2.72
Price Trends
50DMA
3.04
Negative
100DMA
2.86
Negative
200DMA
2.51
Positive
Market Momentum
MACD
-0.06
Positive
RSI
40.49
Neutral
STOCH
35.63
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:IMP, the sentiment is Negative. The current price of 2.72 is below the 20-day moving average (MA) of 2.89, below the 50-day MA of 3.04, and above the 200-day MA of 2.51, indicating a neutral trend. The MACD of -0.06 indicates Positive momentum. The RSI at 40.49 is Neutral, neither overbought nor oversold. The STOCH value of 35.63 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:IMP.

Intermap Technology Peers Comparison

Overall Rating
UnderperformOutperform
Sector (61)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
C$148.76M-54.17-7.92%0.59%-4.15%-1335.79%
C$58.18M39.305.05%0.10%-18.29%
$37.18B12.37-10.20%1.83%8.50%-7.62%
C$169.78M-13.40-96.34%-15.31%2.93%
C$61.56M-2.36-128.45%40.92%-27.42%
C$203.62M124.8927.53%156.62%
C$3.89M-0.11-47.00%-22.30%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:IMP
Intermap Technology
2.76
1.55
128.10%
TSE:VXTR
Voxtur Analytics
0.01
-0.09
-90.00%
TSE:ABXX
Abaxx Technologies Inc
4.08
0.00
0.00%
TSE:XTRA
Xtract One
0.89
0.19
27.14%
TSE:QIS
Quorum Information Technologies
0.78
-0.08
-9.30%
TSE:SYZ
Sylogist
6.75
-4.23
-38.52%

Intermap Technology Corporate Events

Intermap Technologies Completes Significant Public Offering to Bolster Financial Position
Oct 16, 2025

On September 29, 2025, Intermap Technologies completed a ‘bought deal’ public offering, raising $28,752,300 through the sale of 9,584,100 Class A common shares. This capital infusion is intended for working capital and general corporate purposes, potentially strengthening the company’s financial position and operational capabilities in the geospatial industry.

The most recent analyst rating on (TSE:IMP) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Intermap Technologies Announces $20.1 Million Bought Deal Offering
Oct 1, 2025

On September 22, 2025, Intermap Technologies announced a $20.1 million bought deal offering, involving the sale of 6,700,000 Class A common shares at $3.00 each. The offering, led by Stifel Canada, is expected to close around September 29, 2025, with proceeds aimed at supporting working capital and general corporate purposes. This move is anticipated to bolster Intermap’s financial position, enabling further advancements in its geospatial intelligence solutions.

The most recent analyst rating on (TSE:IMP) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Private Placements and Financing
Intermap Technologies Raises $28.75M in Oversubscribed Public Offering
Positive
Sep 29, 2025

Intermap Technologies has successfully closed a ‘bought deal’ public offering, raising $28,752,300 through the sale of 9,584,100 Class A common shares. The offering was oversubscribed, reflecting strong demand from growth-oriented institutions, and aims to strengthen the company’s balance sheet for enhanced integration of its GEOINT data products in customer operations. The proceeds will be used for working capital and general corporate purposes, subject to final approval by the Toronto Stock Exchange.

The most recent analyst rating on (TSE:IMP) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Private Placements and FinancingRegulatory Filings and Compliance
Intermap Technologies Announces Public Offering to Raise $25 Million
Neutral
Sep 25, 2025

Intermap Technologies has filed a prospectus supplement for a public offering of 8,334,000 Class A common shares, aiming to raise $25,002,000. The offering, underwritten by a syndicate led by Stifel Nicolaus Canada Inc., is set to close on September 29, 2025, and the proceeds will be used for working capital and general corporate purposes.

The most recent analyst rating on (TSE:IMP) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Private Placements and Financing
Intermap Technologies Upsizes Bought Deal Financing to $25 Million
Positive
Sep 23, 2025

Intermap Technologies has announced an increase in its bought deal financing to $25 million due to strong demand. The company plans to use the net proceeds for working capital and general corporate purposes, with the offering expected to close by September 29, 2025, subject to necessary approvals. This move is likely to strengthen Intermap’s financial position and support its operational capabilities, potentially enhancing its market presence and stakeholder value.

The most recent analyst rating on (TSE:IMP) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Private Placements and Financing
Intermap Technologies Announces $20.1 Million Bought Deal Offering
Neutral
Sep 22, 2025

Intermap Technologies Corporation has announced a $20.1 million bought deal offering, facilitated by a syndicate of underwriters led by Stifel Canada. The proceeds from this offering will be used for working capital and general corporate purposes, potentially impacting the company’s operational capabilities and market positioning.

The most recent analyst rating on (TSE:IMP) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Private Placements and FinancingRegulatory Filings and Compliance
Intermap Technologies Files Prospectus for Potential $100 Million Securities Offering
Neutral
Sep 16, 2025

Intermap Technologies has filed a final short-form base shelf prospectus with Canadian securities commissions and a corresponding registration statement with the U.S. SEC, allowing the company to issue or sell up to $100 million in various securities over the next 25 months. This strategic move aims to facilitate potential financings for expanding offerings and pursuing new contracts, although there is no obligation to sell any securities.

The most recent analyst rating on (TSE:IMP) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Private Placements and FinancingRegulatory Filings and Compliance
Intermap Technologies Files Prospectus for Potential $100 Million Securities Issuance
Neutral
Sep 16, 2025

Intermap Technologies Corporation has filed a final short-form base shelf prospectus with Canadian securities commissions and a corresponding registration statement with the U.S. SEC, enabling the company to potentially issue up to $100 million in securities over the next 25 months. This strategic move aims to facilitate future financings to expand and develop Intermap’s offerings and pursue new strategic contracts, although there is no obligation to offer or sell any securities.

The most recent analyst rating on (TSE:IMP) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Intermap Technologies’ Earnings Call: Opportunities and Challenges
Sep 1, 2025

Intermap Technologies’ recent earnings call presented a balanced sentiment, highlighting both promising developments and notable challenges. While the company is making strides in expanding its operations in Indonesia and advancing its commercial products, it faces hurdles such as a decline in revenue and currency volatility.

Intermap Technologies Files $100 Million Shelf Prospectus
Aug 27, 2025

On August 26, 2025, Intermap Technologies Corporation announced the filing of a preliminary short form base shelf prospectus, allowing the company to offer and sell up to $100 million in securities over a 25-month period. This strategic move aims to provide Intermap with financial flexibility to meet its financing requirements and adapt to market conditions, potentially affecting its market position and offering new opportunities for stakeholders.

The most recent analyst rating on (TSE:IMP) stock is a Hold with a C$3.00 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Intermap Technologies Reports Financial Results for June 2025
Aug 22, 2025

Intermap Technologies released its unaudited financial results for the three and six months ended June 30, 2025, showing a decrease in revenue compared to the previous year, with $3.018 million for the quarter and $7.280 million for the half-year. Despite the revenue drop, the company improved its cash position significantly, increasing from $445,000 at the end of 2024 to $7.79 million as of June 30, 2025, indicating a stronger financial footing and potential for future investments or operations.

The most recent analyst rating on (TSE:IMP) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Business Operations and StrategyFinancial Disclosures
Intermap Technologies Sees Cash Flow Growth Amid Revenue Decline
Neutral
Aug 14, 2025

Intermap Technologies reported a decline in second-quarter revenue due to timing effects from Indonesia and a commercial contract, but saw a 22% increase in operating cash flow for the first half of 2025. The company is expanding its pipeline of global government business and growing its commercial insurance sector with AI-driven solutions. Despite challenges, including U.S. Department of Defense budget adjustments, Intermap remains on track to meet its projected 2025 revenue of $30–35 million and a 28% EBITDA margin.

The most recent analyst rating on (TSE:IMP) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Financial Disclosures
Intermap Technologies to Announce Q2 2025 Financial Results
Neutral
Aug 9, 2025

Intermap Technologies announced it will release its second quarter 2025 financial results on August 14, 2025, followed by a live webinar hosted by CEO Patrick A. Blott and CFO Jennifer Bakken. The announcement invites stakeholders to discuss the results and company updates, reflecting Intermap’s commitment to transparency and engagement with its investors and stakeholders.

The most recent analyst rating on (TSE:IMP) stock is a Buy with a C$5.00 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Oct 30, 2025