Revenue jumped to $3.6 million from $1.6 million last year $0.9 million of EBITDA, $0.6 million of operating income and $0.6 million of net income Airborne platform commenced data collection for the Indonesian mapping program Affirming 2024 revenue projections of $16-18 million, adjusted EBITDA margin of approximately 25% DENVER, Aug. 14, 2024 (GLOBE NEWSWIRE) -- Intermap Technologies (TSX:IMP, OTCQB:ITMSF) ("Intermap" or the "Company"), a global leader in 3D geospatial products and intelligence solutions, today announced 125% revenue growth in the second quarter of 2024. For the period ending June 30, 2024, the Company reported revenue of $3.6 million compared with $1.6 million for the second quarter of 2023. Following a successful technology upgrade, and re-certification of its sensor payload and airborne platform to meet world-leading geospatial data specifications in Indonesia, total assets increased by $1.5 million to $6.0 million. Cash and accounts receivable totaled $1.1 million at June 30, 2024. Subsequent to the quarter, the Company successfully completed a LIFE offering of common shares, raising CAD $3.3 million. Intermap affirms its 2024 guidance with revenue in the range of $16-18 million and adjusted EBITDA margin of approximately 25%. Intermap is successfully executing and establishing a seamless transition to mapping the entire country of Indonesia through 2028, building a strategic national digital infrastructure that supports economic growth and commercial applications. In addition to Indonesia, the Company's government segment built on strong momentum generated in the first quarter, winning new orders in Malaysia, Malawi, India and Greece. Further highlighting the tremendous demand in this segment for Intermap's unique IFSAR-derived elevation data, Acquisition Services revenue in the second quarter totaled $1.6 million compared with NIL last year. Expected continuing rapid revenue increases reflect strong demand for Intermap's large-scale and highly precise 3D elevation data, which is increasingly demanded and consumed as a service by governments around the world. In the second quarter, commercial revenue totaled $1.9 million, a 22% increase compared with the second quarter 2023. For the first six months of 2024, recurring revenue represented approximately 51% of commercial revenue. The Company projects its ...