MIAMI, April 16, 2024 (GLOBE NEWSWIRE) -- In an innovative step towards reshaping the landscape of money transfer to Latin America, Intermex, a leading omnichannel money transfer service provider, has announced its strategic partnership with Félix Pago. The Félix Pago partnership with Intermex, creates a user-friendly chat-based platform, aimed at facilitating money transfers for Latin American families in the US to their loved ones back home. This alignment between Félix Pago and Intermex marks a new era i ...

With the hotter-than-expected March jobs report, you might think the dollar has lost value due to inflation, thus clouding the narrative of under-the-radar stocks. And yes, inflation is stubbornly high. That’s what happens when more dollars chase after fewer goods.At the same time, the dollar is very much elevated relative to a basket of international currencies. Indeed, the U.S. dollar index ripped higher, settling at 106 points. With that, Americans have (relatively speaking) increased purchasing power.Un ...

MIAMI, April 15, 2024 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ:IMXI), also known as Intermex, will release its First Quarter 2024 earnings before the start of trading on Wednesday, May 8, 2024. The Intermex management team will be hosting a conference call on the same day at 9:00 am ET. Interested parties are invited to join the discussion and gain firsthand knowledge about Intermex's financial performance and operational achievements through the following channels: A live broadcast of ...

International Money Express (IMXI) closed the most recent trading day at $22.34, moving -1.37% from the previous trading session. The stock fell short of the S&P 500, which registered a gain of 0.15% for the day. Elsewhere, the Dow lost 0.02%, while the tech-heavy Nasdaq added 0.32%.Coming into today, shares of the company had gained 12.57% in the past month. In that same time, the Business Services sector lost 0.73%, while the S&P 500 gained 1.65%.Investors will be eagerly watching for the performance of I ...

MIAMI, April 09, 2024 (GLOBE NEWSWIRE) -- Intermex, a global leader in the money transfer industry, announces the official relocation of its headquarters to the Datran Center in Miami-Dade, Florida. The move represents a key milestone for Intermex, illustrating its commitment to growth, and an expanding presence in South Florida. The new headquarters at the Datran Center is expected to attract more top talent, especially in the financial, digital, and technology sectors, further fueling Intermex's growth an ...

Three Months Ended December 31, 3,355 2,758 12,866 9,470 9,491 Share-based compensation 1,894 1,560 8,111 7,118 4,601 Safe Harbor Statement / Non-GAAP Financial Measures 2 $171.8M $17.5M $19.9M $33.3M $0.49 Net Income 33.9% YoY Growth Adjusted Net Income(1) 13.5% YoY Growth $0.56 Full Year 2023 Highlights Revenue 20.5% YoY Growth Adjusted EBITDA(1) 14.0% YoY Growth (1) Non-GAAP measure. See Appendix for reconciliations to the most directly comparable GAAP measures. 4 Intermex market share for selected five ...

Financial Performance - For the year ended December 31, 2023, the principal amount sent increased by approximately 17.2% to $24.5 billion compared to fiscal year 2022[19]. - Total revenues for the year ended December 31, 2023, were $658.735 million, a 20.4% increase from $546.805 million in 2022[331]. - Operating income for 2023 was $95.490 million, an increase of 15.1% from $82.908 million in 2022[331]. - Net income for the year ended December 31, 2023, was $59.515 million, compared to $57.331 million in 2022, representing a 3.8% increase[331]. - Cash provided by operating activities significantly increased to $143,525,000 in 2023, compared to $15,174,000 in 2022 and $78,098,000 in 2021[335]. - The provision for credit losses increased to approximately $5.0 million for the year ended December 31, 2023, representing 0.8% of total revenues, up from $2.6 million (0.5%) in 2022 and $1.5 million (0.3%) in 2021[312]. - Cash and cash equivalents as of December 31, 2023, were $239.203 million, up from $149.493 million in 2022[329]. - The company incurred $66,264,000 in stock repurchases in 2023, compared to $53,734,000 in 2022[335]. - Cash paid for interest increased to $9,180,000 in 2023 from $4,625,000 in 2022[336]. Transaction Growth - The company processed approximately 58.7 million remittances in 2023, representing over 22.8% growth in transactions compared to 2022[19]. - The company grew its agent network by approximately 16.4% in 2023, primarily due to the acquisition of LAN Holdings[19]. - The company processed 20.8% of the aggregate volume of remittances to Mexico and 29.7% to Guatemala according to the latest data from the Central Banks of Mexico and Guatemala in 2023[23]. - The three largest remittance corridors served are from the United States to Mexico, Guatemala, and the Dominican Republic, with the U.S. to Mexico corridor being one of the largest globally in 2023[44]. - Remittance volume to low and middle-income countries grew approximately 3.8% during 2023, indicating a positive trend in the market[44]. Market Expansion - The company aims to expand its market share in the largest remittance corridors, particularly from the U.S. to Mexico, Guatemala, and the Dominican Republic[23]. - The company expanded its services to allow remittances to Africa and Asia from the United States and began offering sending services from Canada to Latin America and Africa[17]. - The company commenced operations in the Dominican Republic and Europe in April 2023 following the LAN Acquisition[313]. Technology and Operations - The company has made significant investments in enhancing its digital mobile money remittance applications to provide safe and easy-to-use features for consumers[23]. - The company’s proprietary software platform has proven reliable, with 2023 downtime being less than 0.05%[21]. - The proprietary Transaction Processing Engine (TPE) enhances transaction speed and regulatory compliance through real-time risk management algorithms[37]. - The company operates a network of 122 Company-operated stores and authorized agents across various countries, primarily serving Latin America[339]. Regulatory and Compliance - The company is subject to various regulations, including anti-money laundering laws, which require robust compliance programs and monitoring of transactions[51]. - The company is subject to direct examination and supervision by the CFPB as a "larger participant" in the international money transfer market[56]. - The company has modified its systems and consumer disclosures to comply with the CFPB's Remittance Transfer Rule[56]. - Regulatory scrutiny on the company's operations has intensified, with potential fines and penalties for violations that could adversely affect its financial condition[134]. - The company is subject to evolving data privacy and cybersecurity laws, which could result in significant compliance costs and reputational harm if not adhered to[138]. Risks and Challenges - Political and economic instability in key Latin American markets may impact revenue and profitability, particularly with currency fluctuations against the U.S. dollar[46]. - The company faces intense competition in the money remittance industry, with a mix of large and small competitors impacting its market position[82]. - Economic conditions, including recession and rising inflation, significantly affect consumer money remittance transactions, which could adversely impact the company's financial results[84]. - The company is exposed to liquidity risk as the timing of funds from sending agents may differ from when funds are made available to beneficiaries[62]. - Credit risks from sending agents and financial institutions are significant, as insolvency or fraud could lead to financial losses[122]. Employee and Diversity - Approximately 95% of the U.S. team members identified as racially or ethnically diverse, and about 60% identified as female as of December 31, 2023[69]. - The company had 534 full-time employees in the United States and a total of 698 employees in Mexico, with 427 being full-time[70]. Financial Position - The company had approximately $189.5 million in indebtedness as of December 31, 2023, consisting of $75.5 million in term loan borrowings and $114.0 million in revolving credit borrowings[156]. - The company had open foreign exchange contracts for Mexican pesos and Guatemalan quetzales amounting to approximately $56.9 million and $41.3 million at December 31, 2023 and 2022, respectively[301]. - The total assets of the company as of December 31, 2023, were $576.812 million, an increase from $512.072 million in 2022[329].

Exhibit 99.1 Intermex Reports Fourth Quarter and Full Year Results Company generates strong earnings and margins, continued execution of omnichannel strategy Company to Host Conference Call Today at 9 a.m. ET MIAMI, (February 27, 2024) – International Money Express, Inc. (NASDAQ: IMXI) ("Intermex" or the "Company"), one of the nation's leading omnichannel money transfer services to Latin America and the Caribbean, today reported strong operating results for the fourth quarter and full year 2023. Financial p ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-37986 INTERNATIONAL MONEY EXPRESS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended June 30, 2023 OR ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission File No. 001-37986 INTERNATIONAL MONEY EXPRESS, INC. (Exact name of registrant as specified in its charter) (State or other jurisdiction of incor ...