Business
International Money Express, Inc. Reports Strong First-Quarter Results
Competitive advantage, a significant increase in retail and digital transactions fuel growth, improved operating performance Company to Host Conference Call
About this update from International Money Express, Inc.
[{"type":"text","content":"Competitive advantage, a significant increase in retail and digital transactions fuel growth, improved operating performance Company to Host Conference Call Today at 9 a.m. ET MIAMI, May 04, 2022 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”) a leading, omnichannel money remittance services company reported today strong double-digit growth across all of the Company’s key operating performance measures during the first quarter of 2022. The results demonstrate the Company’s competitive advantage as the nation’s preferred omnichannel money transfer service to Latin America. Operating performance highlights for the three months ending March 31, 2022, as compared to the prior-year period include: Revenues up 21.2% to $114.7 million.Net Income up 29.8% to $11.7 million.Diluted EPS up 30.4% to $0.30 per share.Adjusted Net Income up 25.7% to $13.4 million.Adjusted Diluted EPS up 25.9% to $0.34 per share. Adjusted EBITDA up 23.0% to $20.7 million.Active customers up 16.6%.Digital transactions up 104.6%. “The consistently strong growth we have achieved at Intermex is driven by the Company’s competitive advantage as a leading money transfer service provider to Latin America,” said Bob Lisy, Chairman, CEO, and President. “Intermex captures 21.4% of the remittance business in four of the region’s top five markets including Mexico, Guatemala, El Salvador, and Honduras, which collectively account for 75% of all the dollar volume transferred to Latin America from the U.S. With the expected closing of the La Nacional acquisition later this year, Intermex would have a leading position in all five of the top markets comprising over 83% of the dollar volume from the U.S. to Latin America.” “The strength of our brand, coupled with the connections we are making with our customers and agent partners, continue to drive our growth,” Lisy said. “Digitally and through thousands of retail locations across the country, Intermex is the preferred remittance provider for the rapidly growing number of consumers who rely on our services. Combining our commitment to excellent customer service with the focused and efficient execution of our business plan, Intermex is perfectly positioned for sustainable, long-term growth.” First Quarter 2022 Financial Results (all comparisons are to First Quarter 2021) The Compan...