Intermap Announces Third Quarter Revenue Grew 241% Year-Over-Year
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Intermap Technologies reported a significant 241% increase in third-quarter revenue year-over-year, reaching $5 million. The company also achieved a net income of $1.1 million and affirmed its 2024 revenue guidance of $16-18 million with a ~25% adjusted EBITDA margin. The growth was driven by the acceleration of data collection for the Indonesian mapping program.
November 14, 2024 | 9:15 pm
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Intermap Technologies reported a 241% increase in Q3 revenue, driven by its Indonesian mapping program. The company achieved a net income of $1.1 million and affirmed its 2024 revenue guidance.
The significant increase in revenue and net income, along with the affirmation of future guidance, suggests positive momentum for Intermap Technologies. The company's strategic focus on the Indonesian mapping program is yielding results, which is likely to positively impact the stock price in the short term.
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