International Money Express, Inc. · NASDAQ:IMXI
International Money Express — Q2 2021 Earnings Presentation
18 slides from International Money Express's earnings presentation, Aug 4, 2021
Slide 1: Second Quarter 2021 Earnings Presentation
Second Quarter 2021 Earnings Presentation August 4, 2021
Slide 2: Safe Harbor Statement / Non-GAAP Financial Measures
Safe Harbor Statement / Non-GAAP Financial Measures This presentation contains “forward-looking statements” within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect our current views with respect to
Slide 3: Second Quarter Financial Results
Second Quarter Financial Results 2Q’21 vs 2Q’20 Revenue $116.7M, up 37.2% Net Income $13.2M, up 47.3% Basic & Diluted EPS $0.34, up 41.7% Adjusted Net Income(1) $15.3M, up 41.2% Adjusted Basic & Diluted $0.40, up 42.9% EPS(1) $0.39, up 39.3% Adjusted EBITDA(1) $23.2M, up 33.4% (1) Non-GAAP measure.
Slide 4: Transactions Growth Driving Revenue
Transactions Growth Driving Revenue Money Transfer Transactions (in Mil) Transaction Growth Emerging Markets Quarter vs. Quarter (1) 41.0% 39.0% 10.1 36.7% 35.2% 33.0% 7.4 7.6 28.2% 6.2 19.9% 2Q18 2Q19 2Q20 2Q21 4Q19 1Q20 2Q20 3Q20 4Q20 1Q21 2Q21 (1) Based on transactions to emerging markets which i
Slide 5: Driving Market Share Growth
Driving Market Share Growth Market share Core Markets (1) (2) 21.0% 19.3% 18.3% 17.3% 2Q18 2Q19 2Q20 2Q21 (1) Market size of LAC inbound remittances per Banco de Mexico, Banco de Guatemala, Banco Central de Reserva de El Salvador, and Banco Central de Honduras using the 2017 World Bank Bilateral Mat
Slide 6: Online & Digital Deposit Growth
Online & Digital Deposit Growth Digital Deposits to Bank Accounts Total Digital Send or Receive as a % of Total Transactions 22% 19% 2Q20 2Q21 Online Transactions 2Q20 2Q21 2Q20 2Q21 6
Slide 7: Profitable Growth Q2 2021
Profitable Growth Q2 2021 Revenue Net Income ($ In millions) ($ In millions) $13.2 $116.7 $9.0 $82.7 $85.1 $70.4 $7.1 $1.8 2Q18 2Q19 2Q20 2Q21 2Q18 2Q19 2Q20 2Q21 7
Slide 8: Profitable Growth 2Q 2021
Profitable Growth 2Q 2021 Adjusted Net Income(1) Adjusted EBITDA(1) ($ in millions) ($ in millions) $23.2 $15.3 $17.4 $16.3 $13.3 $10.8 $9.6 $6.5 2Q18 2Q19 2Q20 2Q21 2Q18 2Q19 2Q20 2Q21 (1) Non-GAAP measure. See Appendix for reconciliations to the most directly comparable GAAP measures. 8
Slide 9: Updated 2021 Guidance
Updated 2021 Guidance Updated 2021 Guidance Prior 2021 Guidance Revenue of $441M – $450M Revenue of $414M – $421M Net Income of $43M - $45M Net Income of $40M - $42M Adjusted Net Income of Adjusted Net Income of $47M - $51M - $53M(1) $49M(1) Adjusted EBITDA of $80M - Adjusted EBITDA
Slide 10: Appendix
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Slide 11: Condensed Consolidated Balance Sheets
Condensed Consolidated Balance Sheets June 30, December 31, (in thousands of dollars) 2021 2020 ASSETS (Unaudited) Current assets: Cash $ 139,716 $ 74,907 Accounts receivable, net of allowance of $1,486 and $1,503, respectively 70,540 55,017 Prepaid wires, net 14,457 53,281 Prepaid expenses and othe
Slide 12: Condensed Consolidated Statements of Operations
Condensed Consolidated Statements of Operations Three Months Ended June 30, (in thousands of dollars) 2021 2020 (Unaudited) Revenues: Wire transfer and money order fees, net $ 99,306 $ 72,793 Foreign exchange gain, net 16,655 11,660 Other income 786 609 Total revenues $ 116,747 $ 85,062 Operating ex
Slide 13: Reconciliation from NI to Adjusted NI
Reconciliation from NI to Adjusted NI Three Months Ended June 30, (in thousands of dollars) 2021 2020 (Unaudited) Net income $ 13,227 $ 8,978 Adjusted for: Share-based compensation (a) 1,374 686 TCPA settlement (b) - 23 Other charges and expenses (c) 176 97 Amortization of certain intangibles (d) 1,
Slide 14: Recon. from GAAP EPS to Adjusted Basic EPS
Recon. from GAAP EPS to Adjusted Basic EPS Three Months Ended June 30, 2021 2020 (Unaudited) GAAP Basic Earnings per Share $ 0.34 $ 0.24 Adjusted for: Share-based compensation 0.04 0.02 TCPA settlement - NM Other charges and expenses NM NM Amortization of certain intangibles 0.03 0.04 Income tax ben
Slide 15: Recon. from GAAP EPS to Adjusted Diluted EPS
Recon. from GAAP EPS to Adjusted Diluted EPS Three Months Ended June 30, 2021 2020 (Unaudited) GAAP Diluted Earnings per Share $ 0.34 $ 0.24 Adjusted for: Share-based compensation 0.04 0.02 TCPA settlement - NM Other charges and expenses NM NM Amortization of certain intangibles 0.03 0.04 Income tax
Slide 16: Recon. from NI to Adjusted EBITDA
Recon. from NI to Adjusted EBITDA Three Months Ended June 30, (in thousands of dollars) 2021 2020 (Unaudited) Net income $ 13,227 $ 8,978 Adjusted for: Interest expense 1,254 1,633 Income tax provision 4,803 3,265 Depreciation and amortization 2,345 2,691 EBITDA 21,629 16,567 Share-based compensatio
Slide 17: Recon. of NI Margin to Adj. EBITDA Margin
Recon. of NI Margin to Adj. EBITDA Margin Three Months Ended June 30, 2021 2020 (Unaudited) Net Income Margin 11.3% 10.6% Adjusted for: Interest expense 1.1% 1.9% Income tax provision 4.1% 3.8% Depreciation and amortization 2.0% 3.2% EBITDA 18.5% 19.5% Share-based compensation 1.2% 0.8% TCPA settlem
Slide 18: Questions or request for conference call please contact
Questions or request for conference call please contact: Mike Gallentine, VP of IR mgallentine@intermexusa.com 305-671-8005
International Money Express — Q2 2021 Earnings Presentation on 6ix