Intermap Technologies (IMP) Q4 2024 earnings summary

Executive summary

• 2024 revenue reached $17.6 million, up 185% year-over-year, with net income of $2.5 million and adjusted EBITDA of $4.1 million, marking a turnaround from prior losses.

• Q4 2024 revenue was $7.4 million, up over 500% year-over-year, with $5.5 million from Indonesia.

• Over 60 global insurance firms and 60+ government agencies use the company's data, with multi-year contracts ensuring future revenue stability.

• Major contract wins in Indonesia, Malaysia, U.S. Air Force, NGA, and Pentagon, with expansion in insurance, defense, and space-based communications.

• 2025 revenue guidance is $30–$35 million with a 28% adjusted EBITDA margin, reflecting continued growth in Indonesia and other regions.

Financial highlights

• Q4 2024 revenue was $7.4 million, up 517% year-over-year; full-year revenue up 185% to $17.6 million.

• Adjusted EBITDA margin reached 27% in Q4 and 23% for the full year; net income margin was 14% for 2024.

• Value-added data revenue grew 60% year-over-year to $3.1 million; software and solutions revenue declined 7% due to one-time 2023 fees.

• Acquisition services revenue surged to $10.5 million in 2024, compared to nil in 2023.

• Total assets rose to $12.0 million at year-end, with cash, AR, and unbilled revenue totaling $6.5 million.

Outlook and guidance

• 2025 revenue guidance is $30–$35 million with a 28% adjusted EBITDA margin, supported by ongoing expansion in Southeast Asia, North and South America, and new opportunities in Europe and Asia.

• Margin expansion expected as operating leverage increases and capacity utilization rises.

• Focus on sustainable growth and market leadership, supported by recent equity financing.