International Money Express, Inc. · NASDAQ:IMXI

International Money Express — Q1 2023 Earnings Presentation

22 slides from International Money Express's earnings presentation, May 4, 2023

  1. Slide 1: 1st Quarter 2023 Earnings Presentation

    1st Quarter 2023 Earnings Presentation May 4, 2023 EXPERIENCE ● TRUST ● INNOVATION ● GROWTH

  2. 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 the Private Securities Litigation Reform Act of 1995, as amended, which reflect our current views concerning certain events that are not historical facts but could affect

  3. Slide 3: First Quarter 2023 Highlights

    First Quarter 2023 Highlights $145.4M $11.8M $14.2M Revenue Net Income Adjusted Net Income(1) 26.8% YoY Growth 0.9% YoY Growth 6.0% YoY Growth $24.1M $0.31 $0.38 Adjusted EBITDA(1) Diluted EPS Adjusted Diluted EPS(1) 16.4% YoY Growth 3.3% YoY Growth 11.8% YoY Growth (1) Non-GAAP measure. See Appendi

  4. Slide 4: Driving Market Share Growth

    Driving Market Share Growth Five countries represent 82% of all money sent to LACA (3) 20.4% 19.3% (Mexico, Guatemala, Honduras, El Salvador, Dominican Republic)(1)(2) 17.8% 17.0% 15.9% 13.7% 11.2% 9.0% 7.5% 2014 2015 2016 2017 2018 2019 2020 2021 2022 1) Market size inbound remittances per Banco de

  5. Slide 5: Driving Market Share Growth

    Driving Market Share Growth Eight countries represent 92% of all money sent to LACA (3) 19.4% Mexico (1) El Salvador (1) 18.4% Market Size: $56.8 B Market Size: $7.1 B 16.8% 15.9% 14.8% Guatemala(1) Colombia (1) 12.7% Market Size: $16.3 B Market Size: $5.1 B 10.4% 8.3% Dominican Republic (1) Ecuador

  6. Slide 6: Customer & Transaction Growth Drives Revenue

    Customer & Transaction Growth Drives Revenue Active, Unique Customers at the end of the Quarter Money Transfer Transactions (in millions) (in millions) 3.6 12.9 10.0 2.6 8.4 2.3 1Q21 1Q22 1Q23 1Q21 1Q22 1Q23 6 EXPERIENCE ● TRUST ● INNOVATION ● GROWTH

  7. Slide 7: Digital Transaction Growth

    Digital Transaction Growth Digitally Originated Transactions Total Digital Send / Receive as a % of Total Transactions 30.1% 25.2% 1Q22 1Q23 1Q22 1Q23 7 EXPERIENCE ● TRUST ● INNOVATION ● GROWTH

  8. Slide 8: Principal Growth Drives Market Share

    Principal Growth Drives Market Share Principal Sent Market Share - Top Five LACA* Markets (1) (2) (in millions) 5,338.8 21.2% 4,361.3 19.7% 3,363.9 17.7% 1Q21 1Q22 1Q23 1Q21 1Q22 1Q23 1) Market size inbound remittances per Banco de Mexico, Banco de Guatemala, Banco Central de Reserva de El Salvador,

  9. Slide 9: Profitable Growth 1Q 2023

    Profitable Growth 1Q 2023 Revenue Net Income ($ in millions) ($ in millions) $145.4 0.9% $11.7 $11.8 $114.7 Diluted EPS $9.0 $0.31, +3.3% $94.6 1Q21 1Q22 1Q23 1Q21 1Q22 1Q23 9 EXPERIENCE ● TRUST ● INNOVATION ● GROWTH

  10. Slide 10: Profitable Growth 1Q 2023

    Profitable Growth 1Q 2023 Adjusted EBITDA (1) Adjusted Net Income ($ in millions) ($ in millions) 6.0% $24.1 $14.2 $13.4 $20.7 Adj. Diluted EPS $10.6 $0.38, +11.8% $16.8 18.1% 17.8% 16.6% 1Q21 1Q22 1Q23 1Q21 1Q22 1Q23 Adj. EBITDA Margin (1) Non-GAAP measure. See Appendix for reconciliations to the m

  11. Slide 11: Strong Cash Generation & Balance Sheet

    Strong Cash Generation & Balance Sheet Net Free Cash Generated(1) Liquidity Summary  Cash & Equivalents: $85.5M $ in (millions) $13.9  Undrawn Revolver* at 3/31/23: $129M  $150M total Revolver Capacity Increased to $220M on Apr 19 $10.1 $8.5 Leverage  Total Debt: $99.2M  Debt to Adj. EBITDA (tr

  12. Slide 12: 2023 Guidance

    2023 Guidance $667.0M – $688.5M $66.5M – $69.0M $120.0M – $124.5M Full Year 2023 Revenue Net Income Adjusted EBITDA(1) 22% - 26% YoY Growth 16% - 20% YoY Growth 14% - 18% YoY Growth Second $168.6M - $174.1M $16.8M – $17.1M $30.7M – $31.4M Quarter 2023 Revenue Net Income Adjusted EBITDA(1) 23% - 27%

  13. Slide 13: Appendix

    Appendix EXPERIENCE ● TRUST ● INNOVATION ● GROWTH

  14. Slide 14: Condensed Consolidated Balance Sheets

    Condensed Consolidated Balance Sheets March 31, December 31, (in thousands of dollars) 2023 2022 ASSETS (Unaudited) Current assets: Cash and cash equivalents $ 85,453 $ 149,493 Accounts receivable, net 102,596 129,808 Prepaid wires, net 106,878 90,386 Prepaid expenses and other current assets 9,482

  15. Slide 15: Condensed Consolidated Statements of Income

    Condensed Consolidated Statements of Income Three Months March 31, (in thousands of dollars, except for share data) 2023 2022 (Unaudited) Revenues: Wire transfer and money order fees, net $ 124,450 $ 98,000 Foreign exchange gain, net 19,168 15,674 Other income 1,746 992 Total revenues 145,364 114,66

  16. Slide 16: Reconciliation from NI to Adjusted NI

    Reconciliation from NI to Adjusted NI Three Months Ended March 31, (in thousands of dollars, except for share data) 2023 2022 (Unaudited) Net income $ 11,762 $ 11,654 Adjusted for: Share-based compensation (a) 1,698 1,268 Transaction costs (b) 124 - Other charges and expenses (c) 529 141 Amortizatio

  17. Slide 17: Recon. from GAAP Basic EPS to Adjusted Basic EPS

    Recon. from GAAP Basic EPS to Adjusted Basic EPS Three months ended March 31, 2023 2022 (Unaudited) GAAP Basic Earnings per Share $ 0.32 $ 0.30 Adjusted for: Share-based compensation 0.05 0.03 Transaction costs NM - Other charges and expenses 0.01 NM Amortization of intangibles 0.03 0.03 Income tax

  18. Slide 18: Recon. from GAAP Diluted EPS to Adjusted Diluted EPS

    Recon. from GAAP Diluted EPS to Adjusted Diluted EPS Three months ended March 31, 2023 2022 (Unaudited) GAAP Diluted Earnings per Share $ 0.31 $ 0.30 Adjusted for: Share-based compensation 0.05 0.03 Transaction costs NM - Other charges and expenses 0.01 NM Amortization of intangibles 0.03 0.02 Incom

  19. Slide 19: Recon. from NI to Adjusted EBITDA

    Recon. from NI to Adjusted EBITDA Three Months Ended March 31, (in thousands of dollars) 2023 2022 (Unaudited) Net income $ 11,762 $ 11,654 Adjusted for: Interest expense 2,192 952 Income tax provision 4,885 4,505 Depreciation and amortization 2,903 2,183 EBITDA 21,742 19,294 Share-based compensatio

  20. Slide 20: Recon. of NI Margin to Adj. EBITDA Margin

    Recon. of NI Margin to Adj. EBITDA Margin Three Months Ended March 31, 2023 2022 (Unaudited) Net Income Margin 8.1% 10.2% Adjusted for: Interest expense 1.5% 0.8% Income tax provision 3.4% 3.9% Depreciation and amortization 2.0% 1.9% EBITDA 15.0% 16.8% Share-based compensation 1.2% 1.1% Transaction

  21. Slide 21: Recon. of NI to Net Free Cash Generated

    Recon. of NI to Net Free Cash Generated Three months ended March 31, (in thousands of dollars) 2023 2022 (Unaudited) Net income for the period $ 11,762 $ 11,654 Depreciation and amortization 2,903 2,183 Share-based compensation expense 1,698 1,268 Provision for credit losses 785 442 Cash used in inv

  22. Slide 22: Questions or request for conference call please contact: Mike Gallentine, VP of IR

    Questions or request for conference call please contact: Mike Gallentine, VP of IR mgallentine@intermexusa.com 305-671-8005 EXPERIENCE ● TRUST ● INNOVATION ● GROWTH

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