Intermap Technologies Corporation has reported financial results for the fourth quarter and year ended December 31, 2015.
For the fourth quarter 2015, Intermap reported total revenue of USD3.2 million, compared to USD1.1 million last year. Mapping services revenue in the fourth quarter was USD0.4 million, compared to USD0.6 million last year.
Data licensing revenue was USD2.2 million, compared to USD0.5 million last year. Software revenue was slightly higher at USD0.6 million, compared to USD0.5 million last year. As of December 31, 2015, there remained USD1.2 million in backlog contracts to be recognized in future periods.
For the fourth quarter 2015 and 2014, personnel expense was USD2.3 million and USD3.0 million, respectively. The decrease is primarily due to decreases in headcount on a year-over-year basis.
For the year ended December 31, 2015, Intermap reported total revenue of USD8.6 million, compared to USD8.3 million recorded in 2014. Mapping services revenue for the year was USD3.8 million compared to USD2.9 million last year.
Data licensing revenue was USD3.1 million compared to USD3.3 million last year. 3DBI software applications revenue was USD1.3 million compared to USD1.2 million last year. Professional services revenue was USD0.4 million compared to USD0.9 million last year.
For the year ended December 31, 2015, personnel expense was USD11.0 million compared to USD12.1 million last year. The 10 percent year-over-year decrease in personnel expense is primarily due to decreases associated with fewer personnel in all of the company´s locations.
Headquartered in Denver, Colorado – Intermap provides geospatial solutions on demand with its secure, cloud based Orion Platformâ¢.