Intermap Technology (TSE:IMP)
TSX:IMP
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Intermap Technology
(TSX:IMP)
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Rating:46Neutral
Price Target:
C$1.00
▼(-51.22% Downside)
Action:Reiterated
Date:05/28/26
The score is constrained primarily by very weak current financial performance (sharp revenue decline, deeply negative margins, and continued cash burn) and a clearly bearish technical setup (price below all major moving averages with negative MACD). The latest earnings call provides partial offset via reiterated revenue guidance, high recurring revenue mix, and a strong cash position, but near-term results and heavy reliance on delayed government contract conversion keep risk elevated. Valuation is difficult to support due to negative earnings and no dividend yield provided.
Positive Factors
High recurring revenue mix
A >80% recurring mix creates durable, predictable revenue that supports cash flow stability and retention-driven growth. Over 2–6 months this underpinning reduces volatility from one-off projects, enables subscription upsell, and improves the ability to forecast and scale cloud/analytics delivery.
Negative Factors
Deep negative margins and cash burn
Sustained deeply negative margins and operating losses constrain cash generation, force reliance on external capital, and limit reinvestment capacity. Over a 2–6 month horizon continued margin deficits risk further equity erosion and hamper the company’s ability to sustainably scale commercial recurring revenue.
Read all positive and negative factors
Positive Factors
Negative Factors
High recurring revenue mix
A >80% recurring mix creates durable, predictable revenue that supports cash flow stability and retention-driven growth. Over 2–6 months this underpinning reduces volatility from one-off projects, enables subscription upsell, and improves the ability to forecast and scale cloud/analytics delivery.
Read all positive factors
Intermap Technology (IMP) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$76.16M
Dividend YieldN/A
Average Volume (3M)196.37K
Price to Earnings (P/E)―
Beta (1Y)2.31
Revenue Growth-62.08%
EPS Growth-377.71%
CountryCA
Employees501
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.12
Shares Outstanding72,537,670
10 Day Avg. Volume183,204
30 Day Avg. Volume196,365
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)3.39
Price to Sales (P/S)7.88
P/FCF Ratio-16.36
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$5.00Price Target Upside143.90% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.08
Revenue Forecast (FY)C$32.63M
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 manageme...
How the Company Makes Money
Intermap makes money primarily by monetizing geospatial data and delivering geospatial solutions to customers. Key revenue streams include: (1) Data licensing and subscriptions: Intermap sells licenses (and, where applicable, recurring access) to ...
Intermap Technology Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 17, 2026
Earnings Call Sentiment Neutral
The call conveyed both meaningful strengths and material near-term challenges. Strengths include a high mix of recurring revenue (>80%), a commercial ARR run-rate approaching $8M with a path to ~$10M, strong cash ($18.8M) and positive working capital, productized AI offerings in-market, and a funded government/commercial pipeline. Offsetting these positives is a steep year-over-year revenue decline (~67% YoY), significant drops in value-added data (60%) and timing-driven decreases in software revenue (~14%), plus execution and timing risk tied to slow government procurement (notably Indonesia) and accounting/deferral impacts related to uplisting preparations. Overall, the call signals solid underlying business fundamentals and runway but meaningful near-term revenue recognition risk and timing uncertainty.Positive Updates
High Recurring Revenue Mix
Recurring subscription and data revenue exceeded 80% of total revenue in Q1 2026, demonstrating strong enterprise adoption of analytics and insurance solutions and a shift toward predictable, recurring revenue.
Negative Updates
Sharp Year-Over-Year Revenue Decline
Total revenue for Q1 2026 was $1.4 million versus $4.3 million in Q1 2025, a decline of approximately 67% year-over-year, driven primarily by timing and delays in large government programs (notably Indonesia).
Read all updates
Q1-2026 Updates
Positive
Negative
High Recurring Revenue Mix
Recurring subscription and data revenue exceeded 80% of total revenue in Q1 2026, demonstrating strong enterprise adoption of analytics and insurance solutions and a shift toward predictable, recurring revenue.
Read all positive updates
Company Guidance
Intermap reiterated full‑year revenue guidance of $30–$35 million (implying $29–$34 million in the remaining three quarters after $1.4M in Q1), said revenue will be back‑end weighted as large government awards convert over the next few quarters, and highlighted that Q1 revenue was $1.4M (vs. $4.3M a year ago) with recurring subscription and data >80% of total, Software & Solutions $1.2M (vs. $1.4M), value‑added data $0.2M (vs. $0.5M), commercial run‑rate/ARR roughly $7–8M (management guiding commercial contribution toward ~$10M), underlying operations were near breakeven excluding one‑offs, cash was $18.8M with $16.3M positive working capital, and management discussed a targeted ~28% EBITDA margin with expectations of higher steady‑state margins as the business shifts to cloud/as‑a‑service delivery.Intermap Technology Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
62
Positive
Cash Flow
24
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 7.70M | 10.57M | 17.64M | 6.20M | 6.79M | 5.80M |
| Gross Profit | -5.99M | -4.08M | 5.06M | -1.54M | 3.98M | 2.87M |
| EBITDA | -6.65M | -5.19M | 3.65M | -2.40M | -3.46M | -1.51M |
| Net Income | -8.48M | -6.71M | 2.46M | -3.70M | -5.28M | -3.36M |
Balance Sheet | ||||||
| Total Assets | 27.87M | 31.73M | 11.94M | 4.54M | 6.33M | 7.45M |
| Cash, Cash Equivalents and Short-Term Investments | 18.78M | 22.52M | 445.00K | 677.00K | 843.00K | 188.00K |
| Total Debt | 1.81M | 1.97M | 1.19M | 1.10M | 1.17M | 1.22M |
| Total Liabilities | 7.66M | 7.17M | 8.20M | 8.10M | 7.75M | 6.60M |
| Stockholders Equity | 20.21M | 24.56M | 3.74M | -3.56M | -1.42M | 852.00K |
Cash Flow | ||||||
| Free Cash Flow | -5.79M | -5.09M | -4.04M | -1.02M | -1.75M | -3.88M |
| Operating Cash Flow | -4.96M | -4.13M | -1.79M | -602.00K | -1.51M | -2.49M |
| Investing Cash Flow | -1.01M | -959.00K | -2.25M | -421.00K | -243.00K | -1.39M |
| Financing Cash Flow | 17.14M | 26.59M | 3.80M | 830.00K | 2.41M | 2.27M |
Intermap Technology Technical Analysis
Negative
2.05
Price Trends
1.73
Negative
1.67
Negative
2.19
Negative
Market Momentum
-0.23
Positive
24.62
Positive
12.36
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 1.58, above the 50-day MA of 1.73, and below the 200-day MA of 2.19, indicating a bearish trend. The MACD of -0.23 indicates Positive momentum. The RSI at 24.62 is Positive, neither overbought nor oversold. The STOCH value of 12.36 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
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
75 Outperform | C$33.07M | 13.53 | 23.36% | ― | 12.32% | 3.30% | |
65 Neutral | C$305.74M | 17.63 | 20.50% | 2.32% | -2.52% | -21.72% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
49 Neutral | C$118.61M | -10.34 | -100.85% | ― | -0.90% | -3.31% | |
48 Neutral | C$88.18M | -11.70 | -24.29% | 0.71% | -7.56% | -554.27% | |
46 Neutral | C$76.16M | -6.40 | -42.66% | ― | -62.08% | -377.71% |
* Technology Sector Average
TSE:IMP
Intermap Technology
0.99
-1.30
-56.77%
TSE:CMG
Computer Modelling
3.84
-3.11
-44.72%
TSE:CTZ
NamSys
1.21
-0.05
-4.12%
TSE:XTRA
Xtract One
0.49
-0.06
-10.91%
TSE:SYZ
Sylogist
3.82
-4.97
-56.54%
Intermap Technology Corporate Events
Business Operations and StrategyProduct-Related Announcements
Intermap Wins Czech Nationwide Adoption for AI Flood Risk Platform
Positive
Apr 1, 2026
Intermap Technologies has secured adoption of its AI-enabled flood risk platform by eight leading insurers covering most of the Czech residential property insurance market, creating a unified standard for underwriting, valuation and portfolio risk...
Business Operations and StrategyFinancial Disclosures
Intermap Bolsters Balance Sheet as Subscription Growth Offsets 2025 Revenue Drop
Negative
Apr 1, 2026
Intermap Technologies reported a sharp year-over-year revenue decline in 2025, with sales falling to $10.6 million from $17.6 million, as program timing, delayed Indonesia contracts and U.S. government shutdown impacts weighed on results and turne...
Financial Disclosures
Intermap Sets March 31 Date to Report 2025 Results and Brief Investors
Neutral
Mar 24, 2026
Intermap Technologies will publish its fourth quarter and full-year 2025 financial results after the market close on March 31, 2026. The company positions itself as a global 3D geospatial intelligence leader, supplying high-resolution terrain data...
Financial Disclosures
Intermap Sets March 31 Date to Unveil 2025 Results and Host Investor Webinar
Neutral
Mar 24, 2026
Intermap Technologies, a Denver‑based provider of advanced 3D geospatial intelligence and high‑resolution terrain data, serves government and commercial clients in sectors including defense, aviation, insurance, disaster mitigation, en...
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.