Malaysian award expands national flood forecasting footprint World Bank-funded Indonesia program advances Global insurers increasingly rely on Intermap’s elevation data to enhance flood risk and catastrophe modeling DENVER, Dec. 18, 2025 (GLOBE NEWSWIRE) -- Intermap Technologies (TSX: IMP; OTCQB: ITMSF) (“Intermap” or the “Company”), a global leader in 3D geospatial products and intelligence solutions, today announced an update on Indonesia, Malaysia, insurance and guidance. IndonesiaThe World Bank-funded I ...

Core Insights - ProStar Holdings Inc. has announced a strategic partnership with Tersus GNSS to deliver a complete precision mapping solution for the utility and critical infrastructure industries globally [1][2][3] Group 1: Partnership Details - The collaboration aims to integrate Tersus's survey-grade GNSS receivers with ProStar's PointMan, providing an affordable and field-ready solution through Tersus's international distribution network [2] - Tersus GNSS is recognized for its innovation in GNSS receiver and base station technology, with operations in China, the United States, and Australia [2] Group 2: Strategic Goals - This partnership is part of ProStar's strategy to expand its ecosystem of partnerships via the LinQD open API integration platform, enhancing interoperability between emerging technologies and legacy systems [3] - ProStar aims to establish PointMan as the de facto standard in precision mapping by uniting leading equipment manufacturers and service providers [4] Group 3: Company Background - ProStar Geocorp is focused on becoming the global standard for mapping and managing critical infrastructure, offering a Software-as-a-Service (SaaS) solution and an enterprise integration platform [6][7] - The company's flagship products, PointMan and LinQD, enhance the accuracy and connectivity of infrastructure mapping and management [7] Group 4: Market Position and Growth - ProStar's customer base includes Fortune 500 corporations, leading construction and engineering firms, utilities, municipalities, and U.S. Departments of Transportation, indicating a strong market presence [8] - The company holds 16 issued patents in the United States and Canada, securing its leadership position in precision mapping technologies [9]

Core Insights - Intermap Technologies reported a 37% growth in commercial software revenue, primarily driven by the adoption of its AI Risk Assistant platform, with the United States and Europe contributing to 90% of total revenue [1][4][10] - The company raised $21 million through a bought deal public offering, significantly strengthening its balance sheet and enabling investments in commercial markets [2][3] - Intermap reaffirmed its annual guidance for 2025, projecting revenue between $30 million and $35 million with an EBITDA margin of 28% [11] Financial Performance - Revenue for the quarter was $1.7 million, a decrease from $5.0 million in the same period in 2024, with year-to-date revenue at $9.0 million compared to $10.2 million in 2024 [3] - Operating cash flow year-to-date improved to $2 million, excluding working capital investments, compared to a negative $1.4 million in the same period last year [6] - Adjusted EBITDA was negative $1.0 million for the quarter, down from positive $1.6 million in 2024, with a net loss of $1.5 million compared to a net income of $1.1 million in the same quarter last year [8] Product and Market Developments - The Risk Assistant platform allows underwriters to automate and scale their processes, significantly improving risk assessment and underwriting outcomes [5] - Intermap completed infrastructure upgrades to enhance its capabilities, including the integration of advanced NVIDIA GPUs and encryption methods [4] - The company is actively pursuing multiple government contracts, including a $200 million project in Indonesia and various NOAA contracting opportunities [10] Outlook and Guidance - Intermap expects the timing of certain government contracts may fluctuate due to funding delays, but management believes these are typical for government contracting [11] - The company continues to expand its recurring data subscriptions and analytics services, reflecting strong commercial demand [9]

Core Insights - ProStar Holdings Inc. has announced that GroundBreakers, LLC has adopted its PointMan Precision Mapping Solutions to enhance digital transformation and operational efficiency [1][3] - The critical infrastructure industry is shifting from outdated paper-based processes to data-driven operations, with ProStar's technologies leading this transition [2][6] - GroundBreakers aims to leverage ProStar's solutions for technological advancement and national expansion [3] Company Overview - GroundBreakers is a veteran and women-owned utility management services company based in Indianapolis, specializing in hydro-excavation, jetting, CCTV, and private locating, operating in four Midwestern states [4] - ProStar Geocorp is a provider of geospatial intelligence technologies, focusing on mapping and managing critical infrastructure through its SaaS solutions [5][6] - ProStar's flagship products, PointMan and LinQD, enhance infrastructure mapping accuracy and connectivity, reducing risks and improving efficiencies [6][7] Industry Trends - The critical infrastructure sector is increasingly adopting advanced technologies to improve accuracy, safety, and efficiency in planning, building, and maintaining infrastructure [2] - The transition to digital operations is seen as a major industry shift, with companies like GroundBreakers leading the way [3][6] - ProStar's strategic alliances with global technology leaders are enhancing its competitive advantage and accelerating the adoption of its solutions [7][8]

Core Viewpoint - Intermap Technologies Corporation successfully closed a public offering of 9,584,100 Class A common shares at a price of $3.00 per share, raising gross proceeds of $28,752,300, which reflects strong demand and over-subscription from long-term, growth-oriented institutions [1][3]. Group 1: Offering Details - The offering was underwritten by a syndicate led by Stifel Nicolaus Canada Inc., including Canaccord Genuity Corp. and Beacon Securities Limited [2]. - The net proceeds from the offering will be used for working capital and general corporate purposes, pending final approval from the Toronto Stock Exchange [2]. - The company paid the underwriters a cash commission of $1,725,138 and issued 575,046 compensation warrants, allowing the purchase of common shares at USD$2.1758 until September 29, 2027 [4]. Group 2: Company Background - Intermap Technologies, founded in 1997 and headquartered in Denver, Colorado, is a leader in geospatial intelligence solutions, specializing in 3D terrain data and high-resolution thematic models [8]. - The company utilizes patented sensors and processing technology to provide diverse datasets, enabling seamless integration of geospatial intelligence into customer workflows [8]. - Applications of Intermap's products include defense, aviation, insurance, disaster mitigation, environmental planning, and telecommunications, among others [8].

Company Overview - Intermap Technologies Corporation is a global leader in 3D geospatial products and intelligence solutions, focusing on the creation and analysis of 3D terrain data to produce high-resolution thematic models [11] - The company utilizes scientific analysis of geospatial information and patented sensors and processing technology to provide diverse, multi-source datasets for seamless integration into customer workflows [11] Offering Details - Intermap has filed a prospectus supplement for a bought deal public offering of 8,334,000 Class A common shares at a price of $3.00 per share, aiming for aggregate gross proceeds of $25,002,000 [1][2] - The offering is underwritten by a syndicate led by Stifel Nicolaus Canada Inc., including Canaccord Genuity Corp. and Beacon Securities Limited [3] - An over-allotment option allows underwriters to purchase an additional 1,250,100 common shares, potentially increasing total gross proceeds to $28,752,300 if fully exercised [4] Use of Proceeds - The net proceeds from the offering are intended for working capital and general corporate purposes, as detailed in the prospectus supplement [5] Regulatory Compliance - The prospectus supplement has been filed in each province of Canada (excluding Québec) and is qualified for distribution in the United States on a private placement basis to "Qualified Institutional Buyers" [2]

Core Viewpoint - Intermap Technologies Corporation has filed a final short-form base shelf prospectus and a corresponding registration statement, allowing the company to issue or sell up to $100 million of various securities over the next 25 months to support its growth and strategic initiatives [2]. Group 1: Filing Details - The prospectus has been filed with securities commissions in Canada (excluding Quebec) and with the U.S. SEC under the U.S./Canada Multijurisdictional Disclosure System [1][2]. - The filing enables Intermap to potentially finance its operations and expand its offerings, although there is no obligation to offer or sell any securities [2]. Group 2: Company Overview - Intermap Technologies, founded in 1997 and headquartered in Denver, Colorado, specializes in geospatial intelligence solutions, focusing on 3D terrain data and high-resolution thematic models [7]. - The company utilizes patented sensors and processing technology to provide diverse datasets, enabling customers to integrate geospatial intelligence into their workflows [7]. - Applications of Intermap's products include defense, aviation, disaster mitigation, environmental planning, and telecommunications, among others [7].

Core Viewpoint - Intermap Technologies Corporation has filed a final short-form base shelf prospectus and a corresponding registration statement, allowing the company to issue or sell up to $100 million of various securities over the next 25 months to support its growth and strategic initiatives [2]. Group 1: Prospectus and Registration Statement - The filing of the Prospectus and Registration Statement enables Intermap to issue or sell up to $100 million in common shares, preferred shares, debt securities, subscription receipts, warrants, or units [2]. - The purpose of the filing is to facilitate potential financings for expanding and developing offerings and pursuing new strategic contracts [2]. - There is no obligation or certainty that any securities will be offered or sold under the Prospectus or Registration Statement [2]. Group 2: Company Overview - Intermap Technologies, founded in 1997 and headquartered in Denver, Colorado, is a global leader in geospatial intelligence solutions, focusing on 3D terrain data and high-resolution thematic models [6]. - The company utilizes scientific analysis of geospatial information and patented technology to provide diverse datasets for seamless integration into customer workflows [6]. - Applications for Intermap's products include defense, aviation, insurance, disaster mitigation, environmental planning, telecommunications, and more [6].

Core Insights - Ursa Space Systems has received a strategic investment from Sumitomo Corporation of Americas, enhancing its expansion into the Japanese market and overall capabilities [1][3][5] - The partnership aims to leverage Ursa Space's geospatial AI solutions to provide rapid and scalable insights to a broader audience, particularly in Asia [2][3][5] Company Overview - Ursa Space Systems specializes in satellite-based analytic solutions, utilizing a comprehensive virtual constellation of commercial Earth observation data [2][6] - The company offers subscription and custom monitoring services that enable real-time detection of changes in the physical world, overcoming traditional limitations [4][5] Investment Impact - The new funding will allow Ursa Space to grow its capabilities and enhance its platform, shifting from image-first to indicator-first analysis, thus improving user experience and efficiency [5] - Sumitomo Corporation joins existing investors, including Dorilton Capital and RRE Ventures, indicating strong confidence in Ursa Space's potential [5] Strategic Goals - The partnership with Sumitomo is expected to accelerate Ursa Space's mission to deliver insights at unmatched speed and scale, particularly targeting the Japanese market [3][5] - Ursa Space aims to provide actionable information across various industries, including finance and energy, by integrating satellite data into customer workflows [6]

Core Viewpoint - Intermap Technologies reported a decline in second quarter revenue but achieved significant growth in operating cash flow, reaffirming its revenue projections for 2025 and highlighting advancements in its geospatial intelligence solutions [1][2][8]. Financial Performance - Second quarter revenue decreased from $3.6 million to $3.0 million year-over-year due to timing effects from Indonesia and a commercial contract [2]. - Operating cash flow for the quarter was $2.1 million, a significant improvement from a cash outflow of $500 thousand in the same quarter of 2024 [2]. - For the first half of 2025, operating cash flow increased by 22% to $1.4 million compared to the same period in 2024 [2]. Business Developments - The company is actively involved in Indonesia's Integrated Land Administration and Spatial Planning (ILASP) initiative, with recent funding agreements and trade agreements enhancing opportunities for digital trade and investment [3]. - Intermap's pipeline includes new multi-year opportunities across Southeast Asia, North America, South America, and the Middle East, despite some timing adjustments in U.S. Department of Defense contracts [4]. - The commercial insurance business is expanding, driven by the implementation of the Insurance Risk Assistant Subsystem (IRAS), which enhances property risk evaluation and reduces underwriting errors by up to 30% [5]. Outlook - The company reaffirms its projected 2025 revenue of $30–35 million and an EBITDA margin of 28%, with expectations to meet annual targets despite potential risks related to government tenders and product adoption [8]. Shareholder Information - A conference call is scheduled for today at 5:00 pm ET to discuss the financial results and provide updates [1][12].