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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)

Rating:60Neutral
Price Target:
C$3.00
▼(-0.66% Downside)
Intermap Technology's overall stock score reflects a balance of strengths and challenges. The most significant factor is the positive technical analysis, indicating bullish momentum. Financial performance shows growth but also highlights cash flow concerns. The high P/E ratio suggests overvaluation, while the earnings call presents both opportunities and risks.

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

Intermap Technology Business Overview & Revenue Model

Company DescriptionIntermap Technologies (IMP) is a global geospatial solutions company that specializes in providing high-resolution digital elevation models (DEMs) and geospatial data analytics. The company serves a wide range of sectors including aviation, telecommunications, government, and insurance by offering advanced mapping and 3D modeling services. Intermap's core products include its proprietary NEXTMap datasets and InsitePro software, which deliver precise terrain data and risk management solutions to enhance decision-making processes.
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 reflect a mixed scenario. While revenue growth and a positive net profit margin indicate a recovery, cash flow challenges pose liquidity risks. The balance sheet shows low leverage and improved equity, but operational efficiencies need enhancement.
Income Statement
65
Positive
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
58
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
45
Neutral
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.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue17.64M6.20M6.79M5.80M4.72M
Gross Profit5.06M-1.54M3.98M2.87M2.45M
EBITDA3.65M-2.40M-3.46M-2.34M-2.83M
Net Income2.46M-3.70M-5.28M-3.36M26.53M
Balance Sheet
Total Assets11.94M4.54M6.33M7.45M7.64M
Cash, Cash Equivalents and Short-Term Investments445.00K677.00K843.00K188.00K1.78M
Total Debt1.19M1.10M1.17M1.22M1.44M
Total Liabilities8.20M8.10M7.75M6.60M6.16M
Stockholders Equity3.74M-3.56M-1.42M852.00K1.49M
Cash Flow
Free Cash Flow-4.04M-1.02M-1.75M-3.88M-2.54M
Operating Cash Flow-1.79M-602.00K-1.51M-2.49M-2.05M
Investing Cash Flow-2.25M-421.00K-243.00K-1.39M-338.00K
Financing Cash Flow3.80M830.00K2.41M2.27M2.91M

Intermap Technology Technical Analysis

Technical Analysis Sentiment
Neutral
Last Price3.02
Price Trends
50DMA
2.76
Positive
100DMA
2.44
Positive
200DMA
2.28
Positive
Market Momentum
MACD
0.05
Positive
RSI
51.15
Neutral
STOCH
52.05
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:IMP, the sentiment is Neutral. The current price of 3.02 is below the 20-day moving average (MA) of 3.10, above the 50-day MA of 2.76, and above the 200-day MA of 2.28, indicating a neutral trend. The MACD of 0.05 indicates Positive momentum. The RSI at 51.15 is Neutral, neither overbought nor oversold. The STOCH value of 52.05 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Neutral 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
68
Neutral
C$180.57M-7.92%0.52%-4.15%-1335.79%
67
Neutral
C$51.55M35.005.09%-0.92%-23.37%
61
Neutral
$35.62B7.50-10.94%1.87%8.86%-10.27%
60
Neutral
C$186.64M135.3727.53%156.62%
54
Neutral
C$119.56M-99.03%29.22%18.54%
49
Neutral
C$61.56M-128.45%40.92%-27.42%
41
Neutral
C$7.78M-2108.66%-47.00%-22.30%
* Technology Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
TSE:IMP
Intermap Technology
3.02
2.13
239.33%
TSE:VXTR
Voxtur Analytics
0.01
-0.15
-93.75%
TSE:ABXX
Abaxx Technologies Inc
4.08
0.00
0.00%
TSE:XTRA
Xtract One
0.52
-0.11
-17.46%
TSE:QIS
Quorum Information Technologies
0.70
-0.20
-22.22%
TSE:SYZ
Sylogist
7.70
-3.40
-30.63%

Intermap Technology Corporate Events

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.

Executive/Board Changes
Intermap Technologies Announces Retirement of Key Board Member Jack Hild
Neutral
Jul 9, 2025

Intermap Technologies announced the retirement of John (Jack) Hild from its Board of Directors and as Director of Intermap Federal Services Inc. Hild, who has significantly contributed to the company’s growth and strategic direction, has a distinguished career in the geospatial field, including roles at the National Geospatial-Intelligence Agency and DigitalGlobe. His leadership and insights have strengthened Intermap’s engagement with key government partners, and his departure marks the end of an era of impactful service. The company acknowledges his contributions and expects to continue its growth trajectory with innovative geospatial intelligence activities.

Executive/Board ChangesShareholder Meetings
Intermap Technologies Appoints MNP LLP as New Auditors
Neutral
Jun 20, 2025

Intermap Technologies has appointed MNP LLP as its new auditors following the resignation of KPMG LLP. Shareholders will vote on this appointment at the upcoming annual general meeting. The transition to MNP is part of Intermap’s diligent efforts to ensure continuity in its financial auditing processes, with no modified opinions or reportable events noted in KPMG’s previous reports. This change is expected to maintain the company’s robust financial oversight and reassure stakeholders of its commitment to transparency and accountability.

Business Operations and StrategyFinancial Disclosures
Intermap Technologies Reports Robust Q1 2025 Growth and Strategic Wins
Positive
May 15, 2025

Intermap Technologies reported a significant revenue growth of 153% in the first quarter of 2025, with a pro-forma adjusted EBITDA margin of 28%. The company confirmed its projected 2025 revenue of $30–35 million. Key achievements include being selected as a vendor for the National Geospatial-Intelligence Agency’s $200 million Luno B IDIQ contract, and successful execution of Phase 1 of Indonesia’s national mapping initiative. These developments position Intermap to expand its role in delivering advanced geospatial intelligence and secure long-term growth through multiyear partnerships and federal contracts.

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: Aug 26, 2025