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 March 31, 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 (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-K (Mark One) ☒ ANNUAL REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the fiscal year ended: December 31, 2022 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 None Indicate by check mark if the registrant is a well-known seasoned issuer, as defined in Rule 405 of the Securit ...

13 Capital Allocation Priorities INTERNATIONAL MONEY EXPRESS Current liabilities: Current portion of long-term debt, net $ 4,975 $ 3,882 Accounts payable 25,686 23,151 Wire transfers and money orders payable, net 112,251 56,066 Accrued and other liabilities 41,855 33,760 Long-term debt, net 150,235 79,211 Stockholders' equity: Total stockholders' equity 149,906 143,040 Total liabilities and stockholders' equity $ 512,072 $ 340,536 EXPERIENCE ● TRUST ● INNOVATION ● GROWTH Recon. from GAAP Basic EPS to Adjust ...

International Money Express, Inc. (NASDAQ:IMXI) Q4 2022 Earnings Conference Call March 8, 2023 9:00 AM ET Company Participants Mike Gallentine – Vice President-Investor Relations Bob Lisy – Chairman, Chief Executive Officer and President Andras Bende – Chief Financial Officer Chris Hunt – Acting Chief Operating Officer Randy Nilsen – Chief Revenue Officer Conference Call Participants Mike Grondahl – Northland Securities David Scharf – JMP Alex Markgraff – KeyBanc Capital Markets Chris Young – Credit Suisse ...

4 | --- | --- | --- | |-------|-------|-----------------------------------------------------------------------------------------------| | | | | | | | RETAIL OPTION | | | | • We are where our | | | | customers are (where they live and work) • Personalized service in a familiar environment | | | | • Culturally sensitive service, in their language | | | | • Able to send with cash or debit card | • CHAT customer service YOU DECIDE CONTINUALLY ENHANCING CUSTOMER EXPERIENCE Abandon Rate - Less than 1% Hold Time – ...

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 (Exact name of registrant as specified in its charter) (State or other jurisdiction of incorporation or organization) (I.R.S. Employer Identification No.) 9480 South Dixie Highway Miami, Florida 33156 (Address of Principal Executive Offices) (Zip Code) (305) 671-8000 (Registrant's telephone number, including area code) For the ...

International Money Express, Inc. (NASDAQ:IMXI) Q3 2022 Earnings Conference Call November 9, 2022 9:00 AM ET Company Participants Mike Gallentine - Vice President, Investor Relations Bob Lisy - Chairman, Chief Executive Officer & President Andras Bende - Chief Financial Officer Joseph Aguilar - Chief Operating Office Randy Nilsen - Chief Revenue Officer Chris Hunt - Chief Information Officer. Marcelo Theodoro - Chief Digital Officer Conference Call Participants David Scharf - JMP Securities Mike Grondahl - ...

PART 1 - FINANCIAL INFORMATION [Financial Statements (Unaudited)](index=5&type=section&id=Item%201.%20Financial%20Statements%20(Unaudited)) The unaudited financial statements for H1 2022 detail asset and equity growth, revenue and net income increases, and key accounting policies including lease standards and debt facilities [Condensed Consolidated Balance Sheets](index=5&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2022, total assets and stockholders' equity increased, driven by accounts receivable and retained earnings, while liabilities remained stable Condensed Consolidated Balance Sheet Highlights (in thousands) | Balance Sheet Item | June 30, 2022 (unaudited) | December 31, 2021 | | :--- | :--- | :--- | | **Assets** | | | | Cash | $114,600 | $132,474 | | Accounts receivable, net | $97,154 | $67,317 | | Total current assets | $274,258 | $263,545 | | Total assets | $358,621 | $340,536 | | **Liabilities & Equity** | | | | Total current liabilities | $116,927 | $116,859 | | Debt, net (long-term) | $77,270 | $79,211 | | Total liabilities | $198,423 | $197,496 | | Retained earnings | $109,441 | $81,803 | | Treasury stock, at cost | ($19,194) | ($5,566) | | Total stockholders' equity | $160,198 | $143,040 | [Condensed Consolidated Statements of Income and Comprehensive Income](index=6&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income%20and%20Comprehensive%20Income) For Q2 and H1 2022, the company reported significant year-over-year increases in total revenues, operating income, net income, and diluted EPS Statement of Income Highlights (in thousands, except EPS) | Metric | Q2 2022 | Q2 2021 | YoY Change | H1 2022 | H1 2021 | YoY Change | | :--- | :--- | :--- | :--- | :--- | :--- | :--- | | Total revenues | $136,935 | $116,747 | +17.3% | $251,600 | $211,323 | +19.1% | | Operating income | $23,207 | $19,284 | +20.3% | $40,318 | $32,775 | +23.0% | | Net income | $15,984 | $13,227 | +20.8% | $27,638 | $22,204 | +24.5% | | Diluted EPS | $0.41 | $0.34 | +20.6% | $0.71 | $0.57 | +24.6% | [Condensed Consolidated Statements of Changes in Stockholders' Equity](index=7&type=section&id=Condensed%20Consolidated%20Statements%20of%20Changes%20in%20Stockholders%27%20Equity) Stockholders' equity increased in H1 2022, primarily driven by net income and share-based compensation, partially offset by treasury stock acquisitions - Key drivers of the change in stockholders' equity for the first six months of 2022 were net income of **$27.6 million** and share-based compensation of **$2.9 million**[22](index=22&type=chunk) - The company acquired **$13.6 million** of treasury stock in the first six months of 2022, reducing stockholders' equity[22](index=22&type=chunk) [Condensed Consolidated Statements of Cash Flows](index=11&type=section&id=Condensed%20Consolidated%20Statements%20of%20Cash%20Flows) Net cash from operating activities significantly decreased in H1 2022 due to working capital changes, while investing and financing activities primarily involved asset purchases and share repurchases Cash Flow Summary (in thousands) | Cash Flow Activity | Six Months Ended June 30, 2022 | Six Months Ended June 30, 2021 | | :--- | :--- | :--- | | Net cash provided by operating activities | $4,560 | $70,290 | | Net cash used in investing activities | ($6,867) | ($3,181) | | Net cash used in financing activities | ($15,612) | ($2,348) | | **Net (decrease) increase in cash** | **($17,874)** | **$64,809** | - Financing activities in H1 2022 included **$13.6 million** for repurchases of common stock and **$2.2 million** for repayments of the term loan facility[23](index=23&type=chunk) [Notes to Condensed Consolidated Financial Statements](index=13&type=section&id=Notes%20to%20Condensed%20Consolidated%20Financial%20Statements) The notes provide details on business operations, accounting policies, a pending acquisition, lease accounting adoption, debt facilities, and the ongoing stock repurchase program - On March 16, 2022, the Company entered into a definitive agreement to acquire Envios de Valores La Nacional Corp. and LAN Holdings, Corp. for approximately **$50.0 million** in cash, with up to an additional **$3.0 million** in contingent consideration[31](index=31&type=chunk) - The company adopted the new lease accounting standard, ASC 842, on January 1, 2022, resulting in the recording of right-of-use assets and lease liabilities of approximately **$5.6 million**[32](index=32&type=chunk)[46](index=46&type=chunk) - In August 2021, the Board approved a **$40.0 million** stock repurchase program. During the six months ended June 30, 2022, the company purchased **727,901 shares** for **$13.6 million**, with **$20.8 million** remaining available for future repurchases[81](index=81&type=chunk)[82](index=82&type=chunk) [Management's Discussion and Analysis of Financial Condition and Results of Operations](index=28&type=section&id=Item%202.%20Management%27s%20Discussion%20and%20Analysis%20of%20Financial%20Condition%20and%20Results%20of%20Operations) Management discusses strong H1 2022 performance driven by agent network growth and transaction volume, highlighting the pending La Nacional acquisition, increased Adjusted EBITDA, and robust liquidity [Overview](index=28&type=section&id=Overview) The company, a leading money remittance service, reported significant growth in principal amount sent and remittances processed in H1 2022, alongside a pending strategic acquisition - For the six months ended June 30, 2022, the principal amount sent increased by approximately **25.4%** to **$9.7 billion**, and total remittances processed increased by **18.8%** to **21.9 million** compared to H1 2021[98](index=98&type=chunk) - The company's agent network grew by approximately **6.4%** in the first six months of 2022[98](index=98&type=chunk) - The acquisition of La Nacional is expected to contribute approximately **$70.0 million to $80.0 million** a year in revenues with an Adjusted EBITDA margin of **9% to 11%** once fully integrated[103](index=103&type=chunk) [Results of Operations](index=37&type=section&id=Results%20of%20Operations) The company achieved substantial year-over-year growth in revenues, net income, and Adjusted EBITDA for both Q2 and H1 2022, driven by increased transaction volume Q2 2022 vs Q2 2021 Performance (in thousands) | Metric | Q2 2022 | Q2 2021 | % Change | | :--- | :--- | :--- | :--- | | Total Revenues | $136,935 | $116,747 | +17.3% | | Operating Income | $23,207 | $19,284 | +20.3% | | Net Income | $15,984 | $13,227 | +20.8% | | Adjusted EBITDA | $27,656 | $23,179 | +19.3% | H1 2022 vs H1 2021 Performance (in thousands) | Metric | H1 2022 | H1 2021 | % Change | | :--- | :--- | :--- | :--- | | Total Revenues | $251,600 | $211,323 | +19.1% | | Operating Income | $40,318 | $32,775 | +23.0% | | Net Income | $27,638 | $22,204 | +24.5% | | Adjusted EBITDA | $48,359 | $40,017 | +20.8% | - The increase in wire transfer fees for Q2 2022 was primarily due to an **18.1%** increase in transaction volume, driven by a **10.8%** growth in the agent network from June 2021 to June 2022[129](index=129&type=chunk) [Liquidity and Capital Resources](index=49&type=section&id=Liquidity%20and%20Capital%20Resources) The company maintains strong liquidity through credit facilities, actively manages its debt, and continues its share repurchase program, despite a significant decrease in operating cash flow due to working capital changes - The company has an Amended and Restated Credit Agreement providing for a **$150.0 million** revolving credit facility and an **$87.5 million** term loan facility[178](index=178&type=chunk) - As of June 30, 2022, total debt was **$83.1 million**, with no outstanding borrowings on the revolving credit facility and **$220.0 million** of additional borrowing capacity available[179](index=179&type=chunk) - During H1 2022, the company purchased **727,901 shares** for **$13.6 million** under its repurchase program, with **$20.8 million** remaining available for future repurchases[188](index=188&type=chunk) - Net cash from operating activities decreased to **$4.6 million** in H1 2022 from **$70.3 million** in H1 2021, mainly due to a **$72.8 million** change in working capital related to timing of transmittals and prefunding of payers[191](index=191&type=chunk)[193](index=193&type=chunk) [Quantitative and Qualitative Disclosures about Market Risk](index=55&type=section&id=Item%203.%20Quantitative%20and%20Qualitative%20Disclosures%20about%20Market%20Risk) The company manages exposure to foreign currency risk, interest rate risk on variable-rate debt, and credit risk from agent receivables through various strategies - The company has foreign currency exposure from open tom and spot foreign exchange contracts for Mexican pesos and Guatemalan quetzales, amounting to approximately **$39.5 million** at June 30, 2022[203](index=203&type=chunk) - The company is exposed to interest rate risk on its **$83.1 million** of outstanding variable-rate debt. A hypothetical **1%** increase in interest rates would increase annual cash interest expense by approximately **$0.8 million**[209](index=209&type=chunk) - Credit risk exposure includes receivable balances from sending agents. The provision for credit losses was **$1.5 million** for H1 2022 (**0.6%** of total revenues), an increase from **$0.7 million** in H1 2021 (**0.3%** of total revenues)[211](index=211&type=chunk)[212](index=212&type=chunk) [Controls and Procedures](index=57&type=section&id=Item%204.%20Controls%20and%20Procedures) Management concluded that disclosure controls and procedures were effective as of June 30, 2022, with no material changes to internal control over financial reporting during the quarter - The CEO and CFO concluded that the company's disclosure controls and procedures were effective as of June 30, 2022[216](index=216&type=chunk) - No material changes to the company's internal control over financial reporting occurred during the most recently completed fiscal quarter[217](index=217&type=chunk) PART II - OTHER INFORMATION [Legal Proceedings](index=58&type=section&id=Item%201.%20Legal%20Proceedings) The company is subject to various claims and litigation in the ordinary course of business but does not believe any of these will have a material adverse effect on its financial condition or results of operations - The company states that it does not expect any legal proceedings, individually or in the aggregate, to have a material and adverse effect on its business, financial condition, and results of operations[219](index=219&type=chunk) [Risk Factors](index=58&type=section&id=Item%201A.%20Risk%20Factors) There have been no material changes to the principal risk factors from those disclosed in the company's Annual Report on Form 10-K for the year ended December 31, 2021 - No material changes to the company's principal risks were reported from the risk factors previously disclosed in the 2021 Form 10-K[221](index=221&type=chunk) [Unregistered Sales of Equity Securities and Use of Proceeds](index=58&type=section&id=Item%202.%20Unregistered%20Sales%20of%20Equity%20Securities%20and%20Use%20of%20Proceeds) During Q2 2022, the company repurchased a significant number of shares under its authorized program, with a remaining balance available for future purchases Issuer Purchases of Equity Securities (Q2 2022) | Period | Total Shares Purchased | Shares Purchased as Part of Program | Value Remaining in Program | | :--- | :--- | :--- | :--- | | April 2022 | 446 | — | $30,805,733 | | May 2022 | 288,864 | 218,604 | $26,497,541 | | June 2022 | 284,909 | 284,909 | $20,805,743 | | **Total Q2** | **574,219** | **503,513** | **$20,805,743** | - The stock repurchase program, approved in August 2021, authorizes up to **$40.0 million** in share purchases and has no expiration date[225](index=225&type=chunk) [Defaults Upon Senior Securities](index=58&type=section&id=Item%203.%20Defaults%20Upon%20Senior%20Securities) None - The company reported no defaults upon senior securities[223](index=223&type=chunk) [Mine Safety Disclosures](index=58&type=section&id=Item%204.%20Mine%20Safety%20Disclosures) Not applicable - This item is not applicable to the company[224](index=224&type=chunk) [Other Information](index=58&type=section&id=Item%205.%20Other%20Information) None - The company reported no other information for this item[225](index=225&type=chunk) [Exhibits](index=59&type=section&id=Item%206.%20Exhibits) This section lists the exhibits filed with the Form 10-Q, including Sarbanes-Oxley certifications from the CEO and CFO, and Inline XBRL data files - Exhibits filed include CEO and CFO certifications pursuant to Section 302 and Section 1350 of the Sarbanes-Oxley Act, along with XBRL-related documents[226](index=226&type=chunk)

Financial Data and Key Metrics Changes - The company reported a 17% increase in revenue, reaching $137 million during the second quarter [37] - Net income grew 21% to $16 million, supported by lower depreciation, amortization, and interest expenses [39] - Adjusted EBITDA increased 19% to $28 million, benefiting from revenue growth and strong cost management [40] - The principal amount transferred exceeded $5 billion for the quarter, marking a 22% increase [35] Business Line Data and Key Metrics Changes - The number of unique active customers grew 15%, leading to a record 12 million remittance transactions, an 18% increase year-over-year [33] - Digitally originated transactions surged by 170%, with 26% of transactions sent or received digitally [34] - The average remittance amount increased by 3% to $447 per transaction [35] Market Data and Key Metrics Changes - The company holds a 22% market share in its primary four markets, which account for 75% of all money transferred from the U.S. to Latin America [36] - The acquisition of Nacional will enhance the company's market leadership in five key Latin American and Caribbean markets, representing 83% of U.S. outbound money transfers to the region [28] Company Strategy and Development Direction - The company is focused on expanding its agent network, which grew by 11% year-over-year, as a key to long-term success [14] - An omnichannel strategy is being implemented to cater to customer preferences for sending money, combining retail and digital platforms [12] - The company is investing in digital capabilities, appointing a Chief Digital Officer to enhance its digital product offerings [21] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in sustaining growth, citing a strong retail business and digital expansion as key drivers [30] - The company anticipates continued growth in remittances, even amid economic challenges, due to its diverse customer base in agriculture and construction [92] Other Important Information - The company has a strong liquidity position with $114.6 million in cash and an undrawn revolver of $150 million [41] - A share buyback program has been accelerated, with 504,000 shares repurchased for $10 million in Q2 [42] - Full-year guidance has been raised, expecting revenue between $542 million and $551 million [45] Q&A Session Summary Question: Update on growth runway related to newer agents - Management indicated that about 15% of the agent base consists of new agents, with expectations of significant volume growth as they mature [50][55] Question: Feedback from agents on sources of growth - Agents report that the industry is growing, with some competitors struggling, and the company is capturing market share by focusing on neighborhood locations [58] Question: Update on sales force and agent pipeline - The sales force has increased from low 40s to mid-50s, with expectations for continued growth in new retail locations [70] Question: Impact of inflation on average send amount - Management noted that while inflation is a concern, the customer base has benefited from wage growth, and average remittance amounts are still increasing [72][74] Question: Near-term priorities with the addition of the Chief Digital Officer - The focus will be on building the online business profitably and expanding card products, particularly targeting the Hispanic community [79] Question: Recession resistance of the business model - Management highlighted the resilience of the business during past recessions, attributing stability to a diverse customer base in agriculture and construction [90][92]

Financial Performance Highlights - Transactions increased to 11.9 million, up by 18.1% compared to Q2 2021[7] - Revenue reached $136.9 million, showing a 17.3% increase compared to Q2 2021[7] - Net income increased to $16.0 million, up by 20.8% compared to Q2 2021[7] - Adjusted EBITDA reached $27.7 million, reflecting a 19.3% increase compared to Q2 2021[7] - Net free cash generated was $17.3 million in Q2 2022[31] Growth Metrics - Active customers reached 3.0 million by the end of Q2 2022[16] - Principal sent totaled $5,327.1 million in Q2 2022[21] - Digital transactions accounted for 26.3% of total transactions in Q2 2022[19] Market Position - The company has more than 20% market share in the top 5 LACA markets for all remittance dollars from the US[15] - Tier I and Tier II market share was 21.0% in Q2 2022[22] Future Outlook - The company projects revenue of $542 million - $551 million, up 18% - 20% for 2022[33] - The company projects net income of $60 million - $61 million, up 28% - 30% for 2022[33] - The company projects Adjusted EBITDA of $104 million - $106 million, up 20% - 22% for 2022[33]