Intermap Technologies Q1 Earnings Call Highlights

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Sat, May 16, 2026 astatine 8:08 AM CDT 7 min read

Key Points

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Q1 gross fell sharply to CAD 1.4 cardinal from CAD 4.3 cardinal a twelvemonth earlier, chiefly due to the fact that ample authorities programs were delayed, particularly successful Indonesia. Management said the concern was inactive adjacent breakeven connected an underlying basis.
Recurring commercialized gross is increasing successful importance, with subscription and information gross making up much than 80% of full revenue. CEO Patrick Blott said the commercialized concern is expanding and guided to astir CAD 10 cardinal connected a run-rate basis.
Intermap remains assured successful its authorities pipeline, peculiarly Indonesia Phase II and U.S. national geospatial opportunities, and expects larger gross to get aboriginal successful the twelvemonth arsenic contracts convert. The institution besides said its beardown currency presumption of CAD 18.8 cardinal supports readiness for these programs and its planned Nasdaq uplisting.

Intermap Technologies (TSE:IMP) reported a crisp year-over-year diminution successful first-quarter gross arsenic the timing of ample authorities programs weighed connected results, but absorption emphasized maturation successful recurring commercialized revenue, a beardown currency presumption and continued assurance successful its authorities pipeline.

On the company’s first-quarter 2026 league call, CEO Patrick Blott said the 4th demonstrated “the spot of Intermap’s commercialized business,” noting that recurring subscription and information gross exceeded 80% of full revenue. He said the institution continues to spot endeavor adoption of its analytics level and request for its proprietary geospatial quality products and models.

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In the prepared fiscal review, absorption reported full gross of CAD 1.4 cardinal for the quarter, down from CAD 4.3 cardinal successful the prior-year period. The diminution was attributed chiefly to delays tied to ample authorities programs, peculiarly Indonesia acquisition services revenue.

Recurring Revenue Takes Larger Share of Sales

Intermap said bundle and solutions gross was CAD 1.2 million, compared with CAD 1.4 cardinal a twelvemonth earlier. Management said the alteration was chiefly related to the timing of bundle overages, which alteration with declaration presumption and deferred gross recognition. Value-added information gross was CAD 0.2 million, down from CAD 0.5 million, reflecting timing differences successful the transportation of repeating information products.

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Blott said the company’s commercialized concern is increasing contempt quarter-to-quarter accounting effects. In effect to a question astir the diminution successful value-added information and bundle solutions revenue, helium said timing, deferrals and accounting attraction tied to renewals, upsells and overages tin marque quarterly comparisons difficult.

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