Intermap Technologies Corporation Q4 2024 Earnings Conference Call:
Company Participants:
- Sean Peasgood – Sophic Capital, Investor Relations
- Patrick Blott – Chairman and Chief Executive Officer
- Jennifer Bakken – Executive Vice President and Chief Financial Officer
Transcript:
Good afternoon, and thank you for joining us for Intermap Technologies Corporation’s Conference Call to discuss its Financial Results for the Fourth Quarter and 2024 Full-Year ending December 31, 2024. I’m Sean Peasgood, from Sophic Capital, and I handle Intermap’s Investor Relations.
Joining me today are Intermap’s Chairman and Chief Executive Officer, Patrick Blott, and Executive Vice President and Chief Financial Officer, Jennifer Bakken. They will provide an overview of the Company’s financial performance and answer any questions you may have.
Financial Results:
Patrick Blott: “Thank you, Sean, and welcome, everyone, to today’s conference call. I’m pleased to report that Intermap Technologies had a successful fourth quarter and full-year in 2024. Our revenue for Q4 2024 was $12.5 million, up 23% from the same period last year. For the full-year 2024, our revenue was $45.8 million, representing a 17% increase from 2023.”
Jennifer Bakken: “Our gross profit margin for Q4 2024 was 43%, up from 39% in the same period last year. For the full-year 2024, our gross profit margin was 41%, a 2% improvement from the previous year. Our net loss for Q4 2024 was $2.3 million, an improvement from a net loss of $3.1 million in the same period last year. For the full-year 2024, our net loss was $8.5 million, down from a net loss of $11.3 million in 2023.”
Business Updates:
Patrick Blott: “We are seeing strong demand for our geospatial data and solutions, particularly in the energy and utilities sectors. Our NEXTMap data products and services continue to gain traction, and we have signed several new contracts in the past few months.”
Future Outlook:
Jennifer Bakken: “Looking ahead to 2025, we expect our revenue to grow by at least 15%, driven by new contracts and expanding relationships with existing customers. We are confident in our ability to continue delivering high-quality geospatial data and solutions to our clients.”
Question and Answer Session:
The call included a question and answer session where the management team addressed various topics, including their growth strategy, competitive landscape, and financial outlook.
Effect on Individuals:
The strong financial performance of Intermap Technologies could lead to potential job growth and increased opportunities in the geospatial data industry. As the demand for accurate and detailed geospatial data continues to grow, companies like Intermap will be well-positioned to capitalize on this trend.
Effect on the World:
The geospatial data industry plays a crucial role in various sectors, including energy, utilities, transportation, and environmental management. Intermap’s NEXTMap data products and services contribute to more efficient and effective decision-making in these areas. For example, accurate geospatial data can help utilities companies optimize their power grid, reduce energy losses, and improve customer service.
Conclusion:
Intermap Technologies Corporation’s strong financial performance in Q4 2024 and the full-year 2024 is a positive sign for the geospatial data industry. With growing demand for accurate and detailed geospatial data, companies like Intermap are well-positioned to capitalize on this trend and contribute to more efficient and effective decision-making in various sectors. The potential for job growth and increased opportunities in this industry is an exciting prospect for individuals looking to make a positive impact on the world. Stay tuned for more updates from Intermap Technologies as they continue to innovate and deliver high-quality geospatial data and solutions.
Thank you for joining us on this call. If you have any further questions, please don’t hesitate to contact Intermap’s Investor Relations team.
