Intermap Technology (IMP) AI Stock Analysis

• Market Cap: C$109.38M
• Dividend Yield: N/A
• Average Volume (3M): 196.37K
• Price to Earnings (P/E): ―
• Beta (1Y): 2.37
• Revenue Growth: 48.18%
• EPS Growth: -401.19%
• Country: CA
• Employees: 501
• Sector: Technology
• Sector Strength: 88
• Industry: Software - Application
• EPS (TTM): -0.03
• Shares Outstanding: 72,437,660
• 10 Day Avg. Volume: 183,204
• 30 Day Avg. Volume: 196,365
• PEG Ratio: -0.20
• Price to Book (P/B): 20.42
• Price to Sales (P/S): 4.33
• P/FCF Ratio: -18.88
• Enterprise Value/Market Cap: N/A
• Enterprise Value/Revenue: N/A
• Enterprise Value/Gross Profit: N/A
• Enterprise Value/Ebitda: N/A
• 1Y Price Target: N/A
• Price Target Upside: N/A
• Rating Consensus: N/A
• Number of Analyst Covering: 0
• EPS Forecast (FY): 0.22
• Revenue Forecast (FY): C$54.65M

• Rating: 46 Neutral
• Price Target: C$1.50 ▼(-26.83% Downside)
• Action: Reiterated Date: 12/20/25
• Date: Action: Reiterated 12/20/25

Intermap Technology's stock score is primarily impacted by its financial challenges, including declining revenue and negative margins. Technical indicators suggest bearish momentum, further weighing on the score. While the earnings call provided some positive strategic insights, the overall financial instability and valuation concerns dominate the stock's outlook.

Positive Factors

Capital raise & going concern removal

A meaningful equity injection and removal of the going-concern qualifier materially improves liquidity runway and financial flexibility. This durable capital base reduces near-term refinancing risk, supports contract execution, and enables continued investment in data assets and productization critical to long-term growth.

Commercial revenue expansion

Sustained commercial growth reflects durable product-market fit for Elevation-as-a-Service and analytics. Recurring commercial revenue reduces reliance on lumpy government projects, improves predictability of cash flows over time, and supports scaling of SaaS and data licensing economics.

Large IDIQ contract pipeline

Access to IDIQ vehicles with substantial ceilings creates a multi-year addressable opportunity and a stable procurement channel into government programs. Winning task orders can convert into predictable, long-term revenue and strengthens competitive positioning in GEOINT and infrastructure mapping markets.

Negative Factors

Revenue volatility & decline

Heavy sensitivity to government program timing creates persistent revenue lumpiness and execution risk. Such volatility undermines forecasting, strains working capital planning, and can delay scale benefits from commercial growth unless contract diversification and timing predictability improve.

Negative operating and free cash flow

Consistent negative operating and free cash flows indicate operations are not yet self-funding. This increases reliance on external capital, risks shareholder dilution, and limits ability to invest in R&D or delivery capacity—constraining durable scalability absent sustained cash generation improvements.

Weak profitability & margins

Subpar margins and negative profitability suggest structural issues converting sales into sustainable earnings. Without margin expansion from scale, pricing power, or cost efficiencies, profitable growth will be difficult, limiting reinvestment capacity and long-term shareholder returns.

Intermap Technology Business Overview & Revenue Model

Company Description

Intermap Technology (IMP) is a geospatial technology company specializing in providing high-resolution 3D mapping, data analytics, and geospatial solutions. Operating primarily in sectors such as defense, transportation, and environmental management, Intermap leverages its proprietary software and data acquisition technologies to deliver accurate topographic data and modeling services. Its core products include the NEXTMap® suite, which offers detailed elevation data and analytics for various applications, from urban planning to disaster management.

How the Company Makes Money

Intermap generates revenue through multiple streams, primarily from the sale of geospatial data and analytics services. Key revenue sources include licensing its NEXTMap® elevation data to government agencies and private sector clients, providing custom geospatial solutions tailored to specific industry needs, and offering software-as-a-service (SaaS) products that utilize its geospatial data. Additionally, Intermap often engages in strategic partnerships with organizations in various sectors, enhancing its service offerings and expanding its market reach. These partnerships can lead to joint ventures or collaborative projects that further contribute to the company's earnings.

Intermap Technology Financial Statement Overview

Summary

Intermap Technology faces considerable financial challenges across all verticals. Declining revenue, negative margins, and cash flow issues suggest operational inefficiencies and financial instability. While leverage is low, the company struggles with profitability and cash management, posing risks to its financial health.

Income Statement

Intermap Technology's income statement reveals significant challenges. The TTM data shows a negative revenue growth rate of -16.61%, indicating declining sales. Margins are weak, with a gross profit margin of 18.74% and a negative net profit margin of -3.36%. The EBIT and EBITDA margins are also negative, reflecting operational inefficiencies. Despite a previous year of positive growth, the current trajectory suggests financial instability.

Balance Sheet

The balance sheet shows a relatively low debt-to-equity ratio of 0.12, indicating conservative leverage. However, the return on equity is negative, suggesting that the company is not generating sufficient returns on shareholder investments. The equity ratio is moderate, but the overall financial health is weakened by negative equity in previous years.

Cash Flow

Cash flow analysis highlights significant issues, with negative operating and free cash flows. The free cash flow growth rate is -30.19%, and the operating cash flow to net income ratio is negative, indicating cash flow challenges. The free cash flow to net income ratio is high, suggesting reliance on non-operational sources for cash flow.

Breakdown	TTM	Dec 2024	Mar 2024	Dec 2022	Mar 2022	Mar 2021
Income Statement
Total Revenue	16.42M	17.64M	6.20M	6.79M	5.80M	4.72M
Gross Profit	1.07M	5.06M	-1.54M	3.98M	2.87M	2.45M
EBITDA	-465.00K	3.65M	-2.40M	-3.46M	-1.51M	-2.83M
Net Income	-1.91M	2.46M	-3.70M	-5.28M	-3.36M	26.53M
Balance Sheet
Total Assets	32.48M	11.94M	4.54M	6.33M	7.45M	7.64M
Cash, Cash Equivalents and Short-Term Investments	26.31M	445.00K	677.00K	843.00K	188.00K	1.78M
Total Debt	971.00K	1.19M	1.10M	1.17M	1.22M	1.44M
Total Liabilities	5.55M	8.20M	8.10M	7.75M	6.60M	6.16M
Stockholders Equity	26.92M	3.74M	-3.56M	-1.42M	852.00K	1.49M
Cash Flow
Free Cash Flow	-1.99M	-4.04M	-1.02M	-1.75M	-3.88M	-2.54M
Operating Cash Flow	-1.02M	-1.79M	-602.00K	-1.51M	-2.49M	-2.05M
Investing Cash Flow	-975.00K	-2.25M	-421.00K	-243.00K	-1.39M	-338.00K
Financing Cash Flow	27.87M	3.80M	830.00K	2.41M	2.27M	2.91M

Intermap Technology Technical Analysis

• Technical Analysis Sentiment: Negative
• Last Price: 2.05
• 50DMA: Negative
• 100DMA: Negative
• 200DMA: Negative
• MACD: Positive
• RSI: Neutral
• STOCH: Positive

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 2.05 is above the 20-day moving average (MA) of 1.73, above the 50-day MA of 1.84, and below the 200-day MA of 2.51, indicating a bearish trend. The MACD of -0.07 indicates Positive momentum. The RSI at 31.50 is Neutral, neither overbought nor oversold. The STOCH value of 2.26 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:IMP.

Intermap Technology Peers Comparison

Name	Overall Rating	Market Cap	P/E Ratio	ROE	Dividend Yield	Revenue Growth	EPS Growth
CTZ	79 Outperform	C$30.12M	12.86	27.13%	―	18.05%	22.83%
Sector *	61 Neutral	$37.18B	12.37	-10.20%	1.83%	8.50%	-7.62%
CMG	61 Neutral	C$322.20M	19.52	25.64%	2.32%	3.19%	-1.07%
SYZ	60 Neutral	C$93.52M	-29.43	-8.89%	0.71%	-4.89%	-143.94%
XTRA	52 Neutral	C$123.06M	-9.52	-108.12%	―	-12.14%	4.41%
IMP	46 Neutral	C$109.38M	-35.15	-14.10%	―	48.18%	-401.19%

Intermap Technology Corporate Events

Intermap Wins Malaysian Flood Mapping Work, Sees Insurance Growth and Shifts Targets to 2026

Intermap Technologies has expanded its presence in Southeast Asia’s flood resilience initiatives with a new contract in Malaysia and continued progress in Indonesia, while also strengthening its position in the global insurance market. In Malaysia, the company has been awarded a project to supply high-resolution digital elevation model data and related services for the State of Sabah under the National Flood Forecasting and Warning Program, extending its earlier work in West Malaysia and supporting more accurate monsoon flood forecasting, infrastructure planning and long-term resilience efforts across key flood-prone areas. In Indonesia, the World Bank-funded ILASPP land administration and spatial planning program has extended its decision date for the next phase by two weeks, with the project still expected to proceed on its original scale and scope into 2026. Intermap reports strong momentum in its insurance business, including broad adoption of its AI risk agent in Europe and a significant $2.25 million upsell with a major U.S. insurer, as global carriers increasingly integrate its elevation data into their core risk modeling and underwriting infrastructure. Reflecting delays in some government contracts, the company has withdrawn its 2025 guidance and issued initial 2026 guidance of $30–35 million in revenue and a 28% EBITDA margin, signaling a shift of anticipated milestones into the following year.

The most recent analyst rating on (TSE:IMP) stock is a Hold with a C$2.50 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Intermap Technologies Reports Strong Q3 Growth and Strategic Advancements

Intermap Technologies reported a 37% growth in commercial revenue for the third quarter of 2025, driven by the adoption of its AI-enabled Risk Assistant platform. The company strengthened its balance sheet with a $21 million equity financing, positioning itself for large multiyear contracts. Despite a decline in quarterly revenue due to timing effects in Indonesia and a U.S. government shutdown, Intermap expanded its infrastructure and continued to advance major government programs. The company is actively participating in significant projects, including Indonesia’s $200 million Integrated Land Administration and Spatial Planning Project and NOAA’s Coastal Geospatial Services Contract.

The most recent analyst rating on (TSE:IMP) stock is a Sell with a C$2.50 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.

Intermap Technologies to Release Q3 2025 Financial Results

Intermap Technologies announced it will release its third quarter 2025 financial results on November 13, 2025, followed by a live webinar hosted by CEO Patrick A. Blott and CFO Jennifer Bakken. The announcement invites stakeholders to engage in discussions about the company’s financial performance, potentially impacting investor relations and market positioning.

The most recent analyst rating on (TSE:IMP) stock is a Sell with a C$2.50 price target. To see the full list of analyst forecasts on Intermap Technology stock, see the TSE:IMP Stock Forecast page.