Intermap Announces 125% Revenue Growth in the Second Quarter - Seite 2

Other second quarter highlights include:

• Winning two new infrastructure projects leveraging the company’s Artificial Intelligence/Machine Learning-driven data production technology in Greece and Malawi
• Winning multiyear Aquarius software subscriptions with leading insurers KBC Slovakia and UNIQA Slovakia
• Expanding a multiyear subscription with a Top-15 global insurance carrier by 50+%
• Expanding a base subscription contract with a top mobile and internet provider by 25+%
• Expanding a data exploitation contract with the world’s leading space communications infrastructure operator
  

“We have created a solid foundation in key markets for sustainable growth with high margins, which is increasingly reflected in Intermap’s financial results,” said Patrick A. Blott, Intermap Chairman and CEO. “Customers continue to renew and add capacity, gaining unique insights with unprecedented scale, quality and speed, leveraging our advanced AI/ML technology, exploitation infrastructure, software and algorithms running on top of the world’s largest elevation data archive. Starting in North America and now gaining momentum in Southeast Asia, Intermap is increasingly delivering mission-critical strategic geospatial advantage to governments and non-geospatial expert commercial users, with a growing backlog of multiyear partnerships.”

Subsequent to the quarter ending June 30, 2024, the Company successfully raised aggregate gross proceeds of approximately CAD $3,305,956 through the issuance of an aggregate 7.3 million Class “A” common shares at a price of CAD $0.45 per common share. Aggregate net proceeds are being used for the execution of contracts with the Indonesian government, U.S. Air Force and other clients as well as for working capital.

The Company’s consolidated financial statements for the quarter ended June 30, 2024, along with management’s discussion and analysis for the corresponding period and related management certifications for the second quarter financial results will be filed on SEDAR+ at www.sedarplus.ca on August 14, 2024.

Learn more about Intermap at intermap.com/investors.

Intermap Reader Advisory
Certain information provided in this news release, including reference to revenue and EBITDA projections or revenue growth, constitutes forward-looking statements. The words "anticipate", "expect", "project", "estimate", "forecast", “will be”, “will consider”, “intends” and similar expressions are intended to identify such forward-looking statements. Although Intermap believes that these statements are based on information and assumptions which are current, reasonable and complete, these statements are necessarily subject to a variety of known and unknown risks and uncertainties. Intermap’s forward-looking statements are subject to risks and uncertainties pertaining to, among other things, cash available to fund operations, availability of capital, revenue fluctuations, nature of government contracts, economic conditions, loss of key customers, retention and availability of executive talent, competing technologies, common share price volatility, loss of proprietary information, software functionality, internet and system infrastructure functionality, information technology security, breakdown of strategic alliances, and international and political considerations, as well as those risks and uncertainties discussed Intermap’s Annual Information Form and other securities filings. While the Company makes these forward-looking statements in good faith, should one or more of these risks or uncertainties materialize, or should underlying assumptions prove incorrect, actual results may vary significantly from those expected. Accordingly, no assurances can be given that any of the events anticipated by the forward-looking statements will transpire or occur, or if any of them do so, what benefits that the Company will derive therefrom. All subsequent forward-looking statements, whether written or oral, attributable to Intermap or persons acting on its behalf are expressly qualified in their entirety by these cautionary statements. The forward-looking statements contained in this news release are made as at the date of this news release and the Company does not undertake any obligation to update publicly or to revise any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise, except as may be required by applicable securities law.