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Intermap Technology
(TSX:IMP)
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Rating:44Neutral
Price Target:
C$0.89
▼(-9.90% Downside)
Action:Reiterated
Date:09/15/26
The score is held down primarily by weak financial performance (large TTM losses, heavily negative margins, and sustained cash burn), only partly offset by a less-levered balance sheet. Technicals add a modest headwind due to the longer-term downtrend (below the 100/200-day averages). The earnings call provides some offset via strategic progress (PCI acquisition and commercial/value-added data growth), but near-term execution and timing risks (Indonesia awards and PCI close) remain significant, and valuation support is limited given negative earnings and no dividend yield.
Positive Factors
Proprietary geospatial data platform
Intermap’s proprietary 3D elevation data provides a reusable foundation for licensing, analytics and decision-support products across multiple industries. This data-centric model can support recurring software revenue and higher-value applications as customers embed terrain intelligence into planning, modeling and risk workflows.
Negative Factors
Severe profitability deterioration
The sharp move back to large losses, deeply negative margins and negative return on equity shows that current operations are not covering the company’s cost base. Unless revenue conversion and execution improve materially, weak earnings power may constrain reinvestment and increase reliance on external funding.
Read all positive and negative factors
Positive Factors
Negative Factors
Proprietary geospatial data platform
Intermap’s proprietary 3D elevation data provides a reusable foundation for licensing, analytics and decision-support products across multiple industries. This data-centric model can support recurring software revenue and higher-value applications as customers embed terrain intelligence into planning, modeling and risk workflows.
Read all positive factors
Intermap Technology (IMP) vs. iShares MSCI Canada ETF (EWC)
Market Cap
C$62.71M
Dividend YieldN/A
Average Volume (3M)52.77K
Price to Earnings (P/E)―
Beta (1Y)1.98
Revenue Growth-66.56%
EPS Growth-940.17%
CountryCA
Employees102
SectorTechnology
Sector Strength88
IndustrySoftware - Application
Share Statistics
EPS (TTM)-0.14
Shares Outstanding73,781,690
10 Day Avg. Volume47,676
30 Day Avg. Volume52,770
Financial Highlights & Ratios
PEG Ratio0.04
Price to Book (P/B)3.39
Price to Sales (P/S)7.88
P/FCF Ratio-16.36
Enterprise Value/Market CapN/A
Enterprise Value/RevenueN/A
Enterprise Value/Gross ProfitN/A
Enterprise Value/EbitdaN/A
Forecast
1Y Price Target
C$2.50Price Target Upside152.53% Upside
Rating ConsensusModerate Buy
Number of Analyst Covering1
EPS Forecast (FY)0.06
Revenue Forecast (FY)C$30.43M
Intermap Technology Business Overview & Revenue Model
Company Description
Intermap Technologies Corporation is a geospatial intelligence firm that delivers a wide array of solutions and analytical tools across the United States, Asia Pacific, and European markets. Their portfolio includes Data-as-a-Service (DaaS) offeri...
How the Company Makes Money
Intermap makes money primarily by monetizing geospatial data and derived analytics. Key revenue streams include: (1) Data licensing and sales: generating revenue from licensing or selling access to its 3D elevation datasets (e.g., digital elevatio...
Intermap Technology Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 17, 2026
Earnings Call Sentiment Neutral
The call presents a balanced mix of strategic progress and near-term financial weakness. Highlights include a transformative acquisition (PCI Geomatics) that expands capabilities and recurring revenue potential, strong growth in value-added data and AI-driven products, defense contract wins, and continued investment in platform capacity with a modest cash runway ($16.2M). Lowlights center on significant revenue declines (Q2 down ~33% and H1 down ~53%), a widened net loss and negative adjusted EBITDA, the absence of acquisition services revenue due to Indonesia procurement delays, and dependency on the timing/outcome of the Indonesian follow-on award and the PCI close—both material near-term variables. Given the meaningful strategic positives that could drive long-term upside but material short-term operational and timing risks that have depressed results, the overall tone is cautiously optimistic but uncertain.Positive Updates
Strategic Acquisition of PCI Geomatics
Definitive agreement to acquire PCI Geomatics for CAD 11 million in cash, expected to close by end of September (subject to shareholder approval). Transaction adds image processing, cloud-native microservices, APIs and edge processing capabilities; company expects material recurring subscription revenue and positive net cash flow from the combined business.
Negative Updates
Quarterly and Year-to-Date Revenue Decline
Total revenue for Q2 was $2.0M versus $3.0M in the prior-year quarter (down ~33.3%); revenue for the first six months was $3.4M versus $7.3M prior-year (down ~53.4%). The declines primarily reflect timing of follow-on Indonesia awards and absence of acquisition services revenue.
Read all updates
Q2-2026 Updates
Positive
Negative
Strategic Acquisition of PCI Geomatics
Definitive agreement to acquire PCI Geomatics for CAD 11 million in cash, expected to close by end of September (subject to shareholder approval). Transaction adds image processing, cloud-native microservices, APIs and edge processing capabilities; company expects material recurring subscription revenue and positive net cash flow from the combined business.
Read all positive updates
Company Guidance
Management reiterated guidance for double‑digit commercial revenue growth and said the company’s prior $30.0M target would likely be conservative if Indonesia awards this year and Intermap wins, but timing of that award is the principal near‑term variable and guidance will be updated after the PCI Geomatics close; PCI is expected to close by end‑September with CAD 11.0M cash at closing. For context, Q2 revenue was $2.0M and revenue for the first six months was $3.4M, with Software & Solutions at $1.3M (software prepaid up 35%), Value‑added Data $0.7M (vs $0.3M prior year), Acquisition Services $0 (vs $1.4M prior), net loss $2.1M ($0.03/share), adjusted EBITDA -$1.4M, cash $16.2M, working capital $12.6M, and contract liabilities $3.5M (≈88% relates to prepaid software/license revenue).Intermap Technology Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
52
Neutral
Cash Flow
21
Negative
| Breakdown | TTM | Dec 2025 | Dec 2024 | Mar 2024 | Dec 2022 | Mar 2022 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 6.62M | 10.57M | 17.64M | 6.20M | 6.79M | 5.80M |
| Gross Profit | -7.50M | -4.08M | 5.06M | -1.54M | 3.98M | 2.87M |
| EBITDA | -5.46M | -5.19M | 3.65M | -2.40M | -3.46M | -1.51M |
| Net Income | -9.77M | -6.71M | 2.46M | -3.70M | -5.28M | -3.36M |
Balance Sheet | ||||||
| Total Assets | 25.92M | 31.73M | 11.94M | 4.54M | 6.33M | 7.45M |
| Cash, Cash Equivalents and Short-Term Investments | 16.15M | 22.52M | 445.00K | 677.00K | 843.00K | 188.00K |
| Total Debt | 2.31M | 1.97M | 1.19M | 1.10M | 1.17M | 1.22M |
| Total Liabilities | 8.31M | 7.17M | 8.20M | 8.10M | 7.75M | 6.60M |
| Stockholders Equity | 17.61M | 24.56M | 3.74M | -3.56M | -1.42M | 852.00K |
Cash Flow | ||||||
| Free Cash Flow | -8.91M | -5.09M | -4.04M | -1.02M | -1.75M | -3.88M |
| Operating Cash Flow | -7.14M | -4.13M | -1.79M | -602.00K | -1.51M | -2.49M |
| Investing Cash Flow | -2.21M | -959.00K | -2.25M | -421.00K | -243.00K | -1.39M |
| Financing Cash Flow | 18.14M | 26.59M | 3.80M | 830.00K | 2.41M | 2.27M |
Intermap Technology Technical Analysis
Negative
0.99
Price Trends
0.96
Negative
1.01
Negative
1.37
Negative
Market Momentum
-0.03
Positive
38.10
Neutral
14.14
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For TSE:IMP, the sentiment is Negative. The current price of 0.99 is above the 20-day moving average (MA) of 0.90, above the 50-day MA of 0.96, and below the 200-day MA of 1.37, indicating a bearish trend. The MACD of -0.03 indicates Positive momentum. The RSI at 38.10 is Neutral, neither overbought nor oversold. The STOCH value of 14.14 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for TSE:IMP.
Intermap Technology Peers Comparison
UnderperformOutperform
Sector (61)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
77 Outperform | C$30.61M | 12.13 | 26.14% | 12.71% | 10.36% | 3.87% | |
65 Neutral | C$314.79M | 22.69 | 18.44% | 0.93% | -3.23% | -27.76% | |
61 Neutral | $37.18B | 12.37 | -10.20% | 1.83% | 8.50% | -7.62% | |
47 Neutral | C$140.36M | -14.63 | -60.80% | ― | 48.65% | 25.20% | |
47 Neutral | C$54.98M | -6.61 | -29.25% | 1.69% | -6.63% | -207.84% | |
44 Neutral | C$62.71M | -3.96 | -43.54% | ― | -66.56% | -940.17% |
* Technology Sector Average
TSE:IMP
Intermap Technology
0.85
-2.12
-71.38%
TSE:CMG
Computer Modelling
4.28
-1.81
-29.73%
TSE:CTZ
NamSys
1.14
-0.08
-6.40%
TSE:XTRA
Xtract One
0.54
-0.18
-25.00%
TSE:SYZ
Sylogist
2.36
-3.10
-56.74%
Intermap Technology Corporate Events
Business Operations and StrategyExecutive/Board Changes
Intermap Adds Former Senior U.S. Diplomat to Federal Services Advisory Board
Positive
Aug 18, 2026
Intermap Technologies has appointed former senior U.S. diplomat and Army Special Forces officer John T. McNamara to the Board of Advisors of Intermap Federal Services, the company’s U.S. federal-focused subsidiary. McNamara’s deep expe...
Business Operations and StrategyFinancial DisclosuresM&A Transactions
Intermap to Acquire PCI Geomatics as Indonesian Delays Hit Q2 Results
Neutral
Aug 13, 2026
Intermap Technologies reported second-quarter 2026 revenue of $2.0 million, down from $3.0 million a year earlier, as the absence of Acquisition Services revenue from delayed Indonesian follow-on contracts weighed on results. The company’s n...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.