International Money Express, Inc. · NASDAQ:IMXI

International Money Express — Q3 2022 Earnings Presentation

23 slides from International Money Express's earnings presentation, Nov 9, 2022

  1. Slide 1: 3rd Quarter 2022 Earnings Presentation

    3rd Quarter 2022 Earnings Presentation November 9, 2022 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: Third Quarter 2022 Record Highlights

    Third Quarter 2022 Record Highlights 3Q’22 vs. 3Q21 Transactions 12.2M, up 16.0% Revenue $140.8M, up 16.6% Net Income $16.6M, up 44.5% Adjusted EBITDA(1) $27.8M, up 21.5% (1) Non-GAAP measure. See Appendix for reconciliations to the most directly comparable GAAP measures. 3 EXPERIENCE ● TRUST ● INNO

  4. Slide 4: Driving Market Share Growth

    Driving Market Share Growth Four countries represent 75% of all money sent to LACA* 22.2% 21.0% 19.4% Tier I and Tier II Market Share 18.4% (Mexico, Guatemala, Honduras, El Salvador)(1)(2) 17.3% 14.8% 12.2% 9.7% 8.1% 2014 2015 2016 2017 2018 2019 2020 2021 3Q22 1) Market size inbound remittances per

  5. Slide 5: Leader in the Key LACA Markets

    Leader in the Key LACA Markets Key remittance receiving markets are 87% of total LACA market Mexico (2) DR (2) Market size: $50.1 B Market size: $8.8 B Guatemala (2) Market size: $13.8 B El Salvador (2) Market size: $6.8 B Honduras (2) Market size: $6.4 B Including La Nacional, Intermex will have mo

  6. Slide 6: Digital Transaction Growth

    Digital Transaction Growth Digitally Originated Transactions Total Digital Send or Receive as a % of Total Transactions 28.1% 23.0% 3Q21 3Q22 3Q21 3Q22 6 EXPERIENCE ● TRUST ● INNOVATION ● GROWTH

  7. Slide 7: Agent Growth

    Agent Growth Active Agents at the end of the Quarter 3Q20 3Q21 3Q22 7 EXPERIENCE ● TRUST ● INNOVATION ● GROWTH

  8. Slide 8: 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) 3.0 12.2 2.7 10.5 2.2 8.5 3Q20 3Q21 3Q22 3Q20 3Q21 3Q22 8 EXPERIENCE ● TRUST ● INNOVATION ● GROWTH

  9. Slide 9: Principal Growth Drives Market Share

    Principal Growth Drives Market Share Principal Sent Tier I and Tier II Market Share (1)(2) (in Thousands) 5,507.6 22.2% 21.8% 4,709.0 3,450.1 20.0% 3Q20 3Q21 3Q22 3Q20 3Q21 3Q22 1) Market size inbound remittances per Banco de Mexico, Banco de Guatemala, Banco Central de Reserva de El Salvador, and B

  10. Slide 10: Profitable Growth 3Q 2022

    Profitable Growth 3Q 2022 Revenue Net Income ($ In millions) ($ In millions) $16.6 $140.8 $120.7 $11.5 $95.5 $9.5 3Q20 3Q21 3Q22 3Q20 3Q21 3Q22 10 EXPERIENCE ● TRUST ● INNOVATION ● GROWTH

  11. Slide 11: Profitable Growth 3Q 2022

    Profitable Growth 3Q 2022 Adjusted EBITDA(1) Adjusted Net Income(1) ($ in millions) ($ in millions) $27.8 $22.9 $20.7 $19.1 $15.7 $12.2 3Q20 3Q21 3Q22 3Q20 3Q21 3Q22 Adj. EBITDA 20.0% 19.0% 19.7% Margin (1) Non-GAAP measure. See Appendix for reconciliations to the most directly comparable GAAP measu

  12. Slide 12: Strong Cash Generation & Balance Sheet

    Strong Cash Generation & Balance Sheet Liquidity Summary Cash & Equivalents 9/30/2022 $105.1M Revolver Capacity $107.0M Net Free Cash Generated(1) ($ In millions) $18.4 Leverage Total Debt $123.2M Debt to Adj. EBITDA ttm) 1.2x Net Debt to Adj. EBITDA (ttm) ~neg~ $11.9 $10.2 Capital Allocation Priori

  13. Slide 13: 2022 Updated Guidance

    2022 Updated Guidance  Revenue of $542M – $551M, up 18% - 20%  Net Income of $60M - $61M, up 28% - 30%  Adjusted Net Income of $68M - $69M(1), up 19% - 20%  Adjusted EBITDA of $104M - $106M(1), up 20% - 22% (1) A quantitative reconciliation of projected Adjusted Net Income and Adjusted EBITDA to

  14. Slide 14: Appendix

    Appendix EXPERIENCE ● TRUST ● INNOVATION ● GROWTH

  15. Slide 15: Condensed Consolidated Balance Sheets

    Condensed Consolidated Balance Sheets September 30, December 31, (in thousands of dollars) 2022 2021 ASSETS (Unaudited) Current assets: Cash $ 105,052 $ 132,474 Accounts receivable, net 100,061 67,317 Prepaid wires, net 104,114 56,766 Prepaid expenses and other current assets 8,906 6,988 Total curre

  16. Slide 16: Condensed Consolidated Statements of Income

    Condensed Consolidated Statements of Income Three Months Ended September 30, Nine Months Ended September 30, (in thousands of dollars, except for share data) 2022 2021 2022 2021 (Unaudited) (Unaudited) Revenues: Wire transfer and money order fees, net $ 120,718 $ 104,191 $ 336,340 $ 284,409 Foreign

  17. Slide 17: Reconciliation from NI to Adjusted NI

    Reconciliation from NI to Adjusted NI Three Months Ended September 30, Nine Months Ended September 30, (in thousands of dollars, except for per share data) 2022 2021 2022 2021 (Unaudited) (Unaudited) Net income $ 16,626 $ 11,507 $ 44,264 $ 33,711 Adjusted for: Share-based compensation (a) 2,625 1,11

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

    Recon. from GAAP Basic EPS to Adjusted Basic EPS Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (Unaudited) (Unaudited) GAAP Basic Earnings per Share $ 0.44 $ 0.30 $ 1.16 $ 0.88 Adjusted for: Share-based compensation 0.07 0.03 0.15 0.09 Loss on bank closure 0.04

  19. Slide 19: Recon. from GAAP Diluted EPS to Adjusted Diluted EPS

    Recon. from GAAP Diluted EPS to Adjusted Diluted EPS Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (Unaudited) (Unaudited) GAAP Diluted Earnings per Share $ 0.43 $ 0.29 $ 1.14 $ 0.86 Adjusted for: Share-based compensation 0.07 0.03 0.14 0.09 Loss on bank closur

  20. Slide 20: Recon. from NI to Adjusted EBITDA

    Recon. from NI to Adjusted EBITDA Three Months Ended September 30, Nine Months Ended September 30, (in thousands of dollars) 2022 2021 2022 2021 (Unaudited) (Unaudited) Net income $ 16,626 $ 11,507 $ 44,264 $ 33,711 Adjusted for: Interest expense 1,466 968 3,530 3,562 Income tax provision 2,654 3,62

  21. Slide 21: Recon. of NI Margin to Adj. EBITDA Margin

    Recon. of NI Margin to Adj. EBITDA Margin Three Months Ended September 30, Nine Months Ended September 30, 2022 2021 2022 2021 (Unaudited) (Unaudited) Net Income Margin 11.8% 9.5% 11.3% 10.2% Adjusted for: Interest expense 1.0% 0.8% 0.9% 1.1% Income tax provision 1.9% 3.0% 3.4% 3.5% Depreciation and

  22. Slide 22: Recon. of NI to Net Free Cash Generated

    Recon. of NI to Net Free Cash Generated Three months ended September 30, Nine months ended September 30, (in thousands of dollars) 2022 2021 2022 2021 (Unaudited) (Unaudited) Net income for the period $ 16,626 $ 11,507 $ 44,264 $ 33,711 Depreciation and amortization 2,278 2,362 6,712 7,041 Share-bas

  23. Slide 23: 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 EXPERIENCE ● TRUST ● INNOVATION ● GROWTH

International Money Express — Q3 2022 Earnings Presentation on 6ix