Intermap Reports Board Changes

Posted by Rich Mohr

Aug 25, 2016 10:48:17 AM

DENVER, August 25, 2016 - (TSX: IMP) – Intermap Technologies Corporation ("Intermap" or the "Company"), a provider of location-based solutions, reports that effective August 24, 2016, Cary Ludtke will resign from his director role and instead serve as a strategic business advisor to the Company. “I want to thank Cary for the contribution he is making, and will continue to make expanding our commercial relationships. The Company will announce further board changes shortly”, said Patrick Blott, Chairman of Intermap.

About Intermap Technologies
Headquartered in Denver, Colorado, Intermap (www.intermap.com) is an industry leader in geospatial solutions on demand with its secure, cloud-based Orion Platform™. Through its powerful suite of 3DBI applications and proprietary development of contiguous databases that fuse volumes of geospatial data into a single source, the Orion Platform is able to provide location- based solutions for customers in diverse markets around the world. For more information, please visit www.intermap.com.

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Topics: Financial Results, Board of Directors

Intermap Technologies Reports 2016 Second Quarter Financial Results

Posted by Rich Mohr

Aug 12, 2016 10:02:07 AM

DENVER – August 12, 2016 (TSX: IMP) – Intermap Technologies Corporation (“Intermap” or the “Company”) today reported financial results for the second quarter ended June 30, 2016. A conference call will be held today, August 12th, at 11:00 a.m. Eastern Time to discuss the results.

All amounts in this news release are in United States dollars unless otherwise noted.

Intermap reported total revenue of $0.9 million for the second quarter of 2016, a 20% increase from $0.7 million in the second quarter of 2015. The majority of the year-over-year increase in revenue was from increased data licensing and InsitePro software sales. Net operating loss for the second quarter of 2016 was $3.5 million, compared to a net operating loss of $4.4 million for the second quarter of 2015. Second quarter adjusted EBITDA, a non IFRS financial measure, was a loss of $3.3 million, an improvement from an adjusted EBITDA loss of $3.7 million for the same period in 2015. Adjusted EBITDA excludes share-based compensation, change in value of derivative instruments, and gain or loss on foreign currency translation.

“During the quarter we supported efforts to obtain the project financing associated with a $175 million spatial data infrastructure (SDI) contract that we announced in February of this year. Although Intermap is not responsible for the project financing on this contract, we provide support to our client in connection with their negotiation of final financing terms,” said Todd Oseth, President & CEO of Intermap. “If and when project financing is completed, we will issue a detailed press release. We believe this award can be a catalyst to close other large Orion Platform government implementations in the future, as well as promote Intermap’s location based Platform-as-a-Service (PaaS) and Software-as-a-Service (SaaS) product offerings for the enterprise sector.”

Mr. Oseth added, “During the second quarter we continued to see expanded interest in our InsitePro™ user base in the US. Our risk based customers have expressed significant interest in InsitePro’s capabilities and the fact that we can customize the application for proprietary risk scoring to suit their individual needs. In addition to the expansion of our software business, we also received repeat business for further data acquisition in North America. The expanded contract was for $2.6 million and further task orders to expand this project are expected. The flying portion of this contract is now complete, ahead of schedule and under budget. Our data acquisition results surpass our published specifications. We continue to create a high quality dataset for this customer.”

Financial Review
Consolidated revenue for the second quarter of 2016 totaled $0.9 million and included (i) $0.1 million in mapping services, (ii) $0.1 million in professional services, (iii) $0.4 million in data licensing, and (iv) $0.3 million in software licensing. For the same period in 2015, consolidated revenue totaled $0.7 million and included (i) $0.1 million in mapping services, (ii) $0.1 million in professional services, (iii) $0.3 million in data licensing, and (iv) $0.2 million in 3DBI software licensing. Contract backlog at the end of the quarter totaled $3.5 million.

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Topics: Financial Results, Conferences

Intermap Technologies 2016 Q2 Conference Call

Posted by Rich Mohr

Aug 4, 2016 11:53:07 AM

Denver, August 4, 2016 – Intermap Technologies Corporation (“Intermap” or the “Company”), (TSX: IMP), (OTCBB: ITMSF), a leading provider of geospatial solutions, today announced it will release its 2016 second quarter financial results before market open on Friday August 12, 2016.

A conference call to review the results will take place Friday August 12, at 11:00 am ET. To participate in the call, please dial +1-647-427-7450 approximately 10 minutes prior to the conference call and provide conference ID 61308127. A recording of the conference call will be available through August 26, 2016. Please dial +1-416-849-0833 and provide pass code 61308127 to listen to the rebroadcast. The call will also be available through Intermap’s website at http://www.intermap.com/investors for replay.

About Intermap Technologies
Headquartered in Denver, Colorado, Intermap (www.intermap.com) is an industry leader in geospatial solutions on demand with its secure, cloud-based Orion Platform™. Through its powerful suite of 3DBI applications and proprietary development of contiguous databases that fuse volumes of geospatial data into a single source, the Orion Platform is able to provide location- based solutions for customers in diverse markets around the world. For more information, please visit www.intermap.com.

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Topics: Financial Results, Conferences, technologies, geospatial solutions

Intermap Announces Board Changes

Posted by Rich Mohr

Aug 2, 2016 10:30:43 AM

DENVER – August 2, 2016 (TSX: IMP) – Intermap Technologies Corporation (“Intermap” or the “Company”), a leading provider of location-based solutions, today announces that Patrick A. Blott has been elected Chairman of the Board and Michael A. Hoehn has been elected as Chairman of the Audit Committee. John C. Curlander has resigned as a director of the Company effective July 29, 2016.

The Board of Directors of Intermap wishes to thank Mr. Curlander for his contributions on behalf of the Company.

“John has been a trusted advisor to the Intermap leadership team and every member of the board for nearly five years,” said Todd Oseth, president and chief executive officer of Intermap. “We wish John the very best.”

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Topics: Board of Directors, Inside Intermap, Project

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