Canada · Delayed Price · Currency is CAD Intermap Technologies Earnings Call Transcripts
Fiscal Year 2026
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The $7.7 million cash acquisition of PCI Geomatics closed Oct. 7, 2026, combining imagery processing and cloud software with 3D geospatial data and analytics. 2027 commercial guidance is $12 million-$15 million in revenue and ~ $5 million in Adjusted EBITDA, excluding government procurements.
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Q2 2026 saw strong commercial growth and strategic progress, including the PCI Geomatics acquisition, while government revenue was impacted by Indonesia delays. Value-added data and software revenues grew, but total revenue and EBITDA declined year-over-year. Updated guidance will follow PCI closing.
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The presentation highlighted advanced 3D mapping technology, strong recurring revenue growth, and expanding commercial and government contracts. Strategic focus includes insurance, space, and Indonesian projects, with a U.S. listing planned to support further growth.
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Recurring revenue exceeded 80% in Q1 2026, with total revenue down year-over-year due to government contract delays. The company maintains strong cash reserves, is guiding for CAD 30–35 million in 2026 revenue, and expects a back-end weighted year as large contracts convert.
Fiscal Year 2025
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Revenue declined year-over-year due to government contract delays, but commercial and subscription data revenue grew 29%, now comprising nearly half of total revenue. Balance sheet and liquidity improved significantly, with strong guidance for 2026 and a focus on high-margin recurring revenue.
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Q3 revenue declined due to government program timing, but commercial revenue grew 37% year-over-year. Strong capital raises and contract wins, including $500M in NOAA awards, support a positive outlook with maintained guidance of $30–$35M revenue and 28% adjusted EBITDA margin.
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Q2 2025 revenue declined year-over-year due to timing, but cash from operations and liquidity improved. The company reiterated 2025 guidance, driven by a major Indonesia tender and strong U.S. government and commercial demand. Global mapping and GEOINT demand remains robust.
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Revenue surged 153% year-over-year to $4.3 million, with strong growth across all segments and a return to profitability. Guidance for 2025 is reaffirmed, supported by major government contracts and robust international demand.
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Triple-digit growth and high-margin recurring revenue are driven by proprietary 3D geospatial data, with major government and commercial contracts worldwide. Flagship projects like Indonesia's OneMap and U.S. defense programs are accelerating adoption and expanding the customer base.
Fiscal Year 2024
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Revenue grew 185% to $17.6M in 2024, driven by a major Indonesian contract and expansion in insurance and defense. Net income reached $2.5M, with strong margins and positive outlook for 2025, including guidance of $30–$35M revenue and 28% EBITDA margin.
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Q3 2024 saw revenue surge 241% year-over-year to $5M, with EBITDA margin at 28% and net income of $1.1M. Strong growth was driven by U.S. Air Force and Indonesia contracts, with guidance reaffirmed for $16–$18M revenue and 25% EBITDA margin for 2024.