Intermap Technologies (IMP) investor relations material

Executive summary

• Revenue for 2025 was $10.6 million, down from $17.6 million in 2024, due to delays in Indonesia and U.S. government contracts.

• Qualified for all four lots of Indonesia's ILASP Project, representing a $200 million opportunity.

• Commercial revenue, especially in insurance analytics and AI-enabled products, grew year-over-year, with commercial revenue representing 60% of total revenue, up from 32% in 2024.

• Subscription and data revenue grew 29% year-over-year, now the largest revenue category at 49% of total revenue.

• Strengthened balance sheet with cash at year-end of $22.5 million, up from $0.4 million; shareholders' equity rose to $24.6 million from $3.7 million.

Financial highlights

• Fourth quarter revenue was $1.6 million, down from $7.4 million in Q4 2024.

• Operating loss for 2025 was $6.9 million; net loss was $6.7 million, compared to net income of $2.5 million in 2024.

• Subscription and data revenue reached $5.2 million, up from $4.0 million in 2024.

• Cash at year-end was $22.5 million; total assets increased to $31.7 million.

• Shareholders' equity increased to $24.6 million from $3.7 million year-over-year.

Outlook and guidance

• Affirmed 2026 revenue guidance of $30 million–$35 million with a 28% EBITDA margin.

• Focused on converting a large government pipeline, especially in Southeast Asia, and expanding recurring commercial revenue.

• Malaysia flood mapping contract revenue expected in 2026.

• Management views government and commercial pipelines as strong, with positioning for larger, long-duration programs.