Amsterdam, the Netherlands, 13 October 2023, 7:00 AM CEST

TomTom launches new maps

"Last quarter marked a pivotal moment with the launch of our new maps in core markets.

Our vision is clear. We are pioneering a unified map standard, empowering both companies and developers to harness consistent specifications for location data. It’s exciting to see so many technology firms adopt this standard so quickly.

The new maps are built on this standard and leverage all relevant data sources including open data, making them stand out in terms of coverage, richness, and freshness.

We can now tap deeper into the ever-expanding location technology market, and we are encouraged by the initial feedback from our customers and prospects."

• We launched our new maps of North America and Europe

• We signed a new Traffic deal in the US with StreetLight, powering their cloud-based analytics products

• We reached a new milestone in our longstanding relationship with Stellantis, with our full stack of connected services integrated in the new Peugeot E-3008

• We launched a ChatGPT plugin for location technology, so developers can use AI to build navigation apps  

• Group revenue increased by 6% to €144 million (Q3 '22: €136 million)

• Location Technology revenue increased by 10% to €119 million (Q3 '22: €108 million)

• Automotive operational revenue increased by 13% to €85 million (Q3 '22: €75 million)

• Free cash flow¹ is an inflow of €13 million (Q3 '22: inflow of €8 million)

• Net cash of €325 million (Q2 '23: €316 million)

“We performed well in the third quarter, with our Location Technology business recording sustained year-on-year growth. Enterprise revenue was in line with our expectations and our Automotive business showed healthy underlying performance. For yet another successive quarter, year-on-year Automotive operational revenue growth outperformed car production trends in our core markets.

View the full TomTom third quarter 2023 results press release on our quarterly results website.