Core Insights - International Money Express (IMXI) reported a revenue of $161.13 million for the quarter ended June 2025, reflecting a year-over-year decline of 6.1% [1] - The earnings per share (EPS) for the same period was $0.51, down from $0.55 a year ago, with an EPS surprise of +4.08% compared to the consensus estimate of $0.49 [1] - The reported revenue was a surprise of -1.09% against the Zacks Consensus Estimate of $162.9 million [1] Revenue Breakdown - Other income was reported at $4.48 million, exceeding the average estimate of $2.1 million by two analysts, representing a year-over-year increase of +54.9% [4] - Foreign exchange gain, net, was $23.68 million, slightly below the average estimate of $23.7 million, with a year-over-year change of +3.9% [4] - Revenue from wire transfer and money order fees, net, was $132.97 million, lower than the estimated $137.03 million, indicating a year-over-year decline of -8.8% [4] Stock Performance - Shares of International Money Express have decreased by -9.9% over the past month, contrasting with the Zacks S&P 500 composite's increase of +2.7% [3] - The stock currently holds a Zacks Rank 3 (Hold), suggesting it may perform in line with the broader market in the near term [3]

Group 1: Earnings Performance - International Money Express (IMXI) reported quarterly earnings of $0.51 per share, exceeding the Zacks Consensus Estimate of $0.49 per share, but down from $0.55 per share a year ago, representing an earnings surprise of +4.08% [1] - The company posted revenues of $161.13 million for the quarter ended June 2025, missing the Zacks Consensus Estimate by 1.09% and down from $171.53 million year-over-year [2] - Over the last four quarters, the company has surpassed consensus EPS estimates two times but has not beaten consensus revenue estimates [2] Group 2: Stock Performance and Outlook - International Money Express shares have declined approximately 55.5% since the beginning of the year, contrasting with the S&P 500's gain of 8.6% [3] - The company's earnings outlook is crucial for investors, as it includes current consensus earnings expectations for upcoming quarters and any recent changes to these expectations [4] - The current consensus EPS estimate for the upcoming quarter is $0.55 on revenues of $169.6 million, and for the current fiscal year, it is $1.93 on revenues of $642.65 million [7] Group 3: Industry Context - The Financial Transaction Services industry, to which International Money Express belongs, is currently in the top 30% of over 250 Zacks industries, indicating a favorable outlook compared to the bottom 50% [8] - Empirical research suggests a strong correlation between near-term stock movements and trends in earnings estimate revisions, which can be tracked by investors or through tools like the Zacks Rank [5][6]

[Executive Summary & Financial Highlights](index=1&type=section&id=Executive%20Summary%20%26%20Financial%20Highlights) Intermex experienced a decline in Q2 and year-to-date 2025 financial performance, with revenues and net income decreasing [Second Quarter 2025 Financial Results](index=1&type=section&id=Second%20Quarter%202025%20Financial%20Results) Intermex reported a decline in financial performance for Q2 2025 compared to Q2 2024, with total revenues down 6.1% to $161.1 million, primarily due to fewer transactions Second Quarter 2025 Financial Performance Highlights (YoY) | Metric | Q2 2025 (Millions) | Change vs. Q2 2024 | | :---------------------- | :----------------- | :----------------- | | Total Revenues | $161.1 | -6.1% | | Net Income | $11.0 | -21.4% | | Diluted EPS | $0.37 | -11.9% | | Adjusted Net Income | $15.2 | -16.0% | | Adjusted Diluted EPS | $0.51 | -7.3% | | Adjusted EBITDA | $28.8 | -7.4% | - Total money transfer transactions decreased by 7.8% to **14.1 million**, while the average principal sent per transaction increased by 5.0% to **$441**[1](index=1&type=chunk) [Year-to-Date 2025 Financial Results](index=1&type=section&id=Year-to-Date%202025%20Financial%20Results) For the first six months of 2025, Intermex's revenues decreased by 5.1% to $305.4 million, with net income seeing a significant decline of 28.0% Year-to-Date 2025 Financial Performance Highlights (YoY) | Metric | YTD 2025 (Millions) | Change vs. YTD 2024 | | :---------------------- | :------------------ | :------------------ | | Revenues | $305.4 | -5.1% | | Net Income | $18.8 | -28.0% | | Diluted EPS | $0.62 | -20.5% | | Adjusted Net Income | $26.2 | -20.1% | | Adjusted Diluted EPS | $0.86 | -11.3% | | Adjusted EBITDA | $50.4 | -10.8% | - Money transfer transactions for the first six months decreased by 6.6% to **26.9 million**, while the average principal sent per transaction increased by 6.3% to **$439**[7](index=7&type=chunk) [Key Business Updates](index=2&type=section&id=Key%20Business%20Updates) The company detailed operational highlights, share repurchases, and announced its acquisition by The Western Union Company [Operational Highlights](index=2&type=section&id=Operational%20Highlights) Intermex ended Q2 2025 with $174.7 million in cash and cash equivalents, with Net Free Cash Generated showing strong growth despite significant expenses Cash and Cash Flow Metrics | Metric | Q2 2025 (Millions) | YTD 2025 (Millions) | | :----------------------------------- | :----------------- | :------------------ | | Cash and cash equivalents (end of Q2)| $174.7 | N/A | | Net Free Cash Generated | $14.7 (up 10.5%) | $25.0 (up 45.3%) | - The company incurred **$2.5 million** in advertising and marketing expenses for digital products year-to-date 2025 and **$3.4 million** in transaction costs for potential merger and acquisition activities year-to-date 2025[10](index=10&type=chunk)[11](index=11&type=chunk) [Share Repurchase Program](index=2&type=section&id=Share%20Repurchase%20Program) Intermex continued its share repurchase program, buying back 980,341 shares for $11.4 million in Q2 2025, positively impacting diluted earnings per share Share Repurchase Activity | Period | Shares Repurchased | Value (Millions) | | :---------- | :----------------- | :--------------- | | Q2 2025 | 980,341 | $11.4 | | YTD 2025 | 1.35 million | $16.3 | - The reduction in share count from stock repurchase activity positively impacted diluted earnings per share[2](index=2&type=chunk)[3](index=3&type=chunk)[12](index=12&type=chunk) [Western Union Acquisition Details](index=2&type=section&id=Western%20Union%20Acquisition%20Details) Intermex announced an agreement for The Western Union Company to acquire all outstanding shares in an all-cash merger for $16.00 per share - The Western Union Company will acquire Intermex in an all-cash merger[13](index=13&type=chunk) - Each outstanding share of Intermex common stock will be converted into the right to receive **$16.00 per share** in cash[13](index=13&type=chunk) - Intermex will not host a Q2 conference call and is no longer providing financial guidance due to the pending acquisition[14](index=14&type=chunk) [Non-GAAP Financial Measures](index=3&type=section&id=Non-GAAP%20Financial%20Measures) This section defines key non-GAAP metrics used to assess Intermex's financial performance and operational results [Definition of Non-GAAP Measures](index=3&type=section&id=Definition%20of%20Non-GAAP%20Measures) Intermex utilizes several non-GAAP financial measures, including Adjusted Net Income and Adjusted EBITDA, to evaluate its financial performance by excluding certain non-cash or non-recurring items - Adjusted Net Income is defined as Net Income adjusted for non-cash amortization of intangible assets, non-cash compensation costs, and other non-core items[16](index=16&type=chunk) - Adjusted EBITDA is defined as Net Income before depreciation and amortization, interest expense, income taxes, and adjusted for non-cash compensation costs and other non-core items[18](index=18&type=chunk) - Net Free Cash Generated is defined as Net Income before provision for credit losses and depreciation and amortization, adjusted for non-cash charges, and reduced by cash used in investing activities and debt servicing[19](index=19&type=chunk) [Corporate Information & Disclosures](index=3&type=section&id=Corporate%20Information%20%26%20Disclosures) This section provides forward-looking statement disclaimers, company background, and acquisition-related investor information [Safe Harbor Compliance Statement for Forward-Looking Statements](index=3&type=section&id=Safe%20Harbor%20Compliance%20Statement%20for%20Forward-Looking%20Statements) This section highlights that the press release contains forward-looking statements subject to various risks and uncertainties, including the Western Union acquisition and regulatory compliance - Forward-looking statements are subject to risks including the Western Union acquisition, immigration law changes, digital service expansion, new technology, economic factors, and regulatory compliance[24](index=24&type=chunk) - The company cautions investors not to place undue reliance on forward-looking statements and undertakes no obligation to update them[25](index=25&type=chunk) [About International Money Express, Inc.](index=5&type=section&id=About%20International%20Money%20Express%2C%20Inc.) Founded in 1994, Intermex is a global omnichannel money transfer service provider, enabling consumers to send money to over 60 countries through various channels - Intermex was founded in 1994 and provides global omnichannel money transfer services[26](index=26&type=chunk) - Services are offered from the US, Canada, Spain, Italy, UK, and Germany to over 60 countries, through agent retailers, company-operated stores, mobile apps, and websites[26](index=26&type=chunk) - The company is headquartered in Miami, Florida, with international offices in Mexico, Guatemala, England, and Spain[26](index=26&type=chunk) [Additional Information and Participants in Solicitation](index=5&type=section&id=Additional%20Information%20and%20Participants%20in%20Solicitation) This section advises investors to read the Proxy Statement and other SEC filings regarding the proposed acquisition by Western Union, noting that Intermex's directors and executive officers may be participants in the solicitation - Investors are urged to read the Proxy Statement and other SEC filings for important information about the proposed acquisition[28](index=28&type=chunk) - Intermex's directors and executive officers may be deemed participants in the solicitation of proxies for the transaction[30](index=30&type=chunk) - Free copies of these documents can be obtained from the SEC website (http://www.sec.gov) or Intermex's website (www.Intermexonline.com)[29](index=29&type=chunk) [Condensed Consolidated Financial Statements](index=7&type=section&id=Condensed%20Consolidated%20Financial%20Statements) This section presents detailed consolidated financial statements and reconciliations of GAAP to non-GAAP measures [Condensed Consolidated Balance Sheets](index=7&type=section&id=Condensed%20Consolidated%20Balance%20Sheets) As of June 30, 2025, Intermex's total assets increased to $518.0 million, primarily driven by increases in cash and accounts receivable, with total liabilities also rising due to wire transfers and money orders payable Condensed Consolidated Balance Sheet Highlights (in thousands of dollars) | Metric | June 30, 2025 (Unaudited) | December 31, 2024 | | :-------------------------------- | :------------------------ | :---------------- | | Cash and cash equivalents | $174,723 | $130,503 | | Accounts receivable, net | $141,651 | $107,077 | | Total current assets | $351,185 | $297,783 | | Total assets | $518,015 | $462,377 | | Wire transfers and money orders payable, net | $144,196 | $85,044 | | Total current liabilities | $215,486 | $151,998 | | Debt, net | $144,132 | $156,623 | | Total stockholders' equity | $142,253 | $134,924 | [Condensed Consolidated Statements of Income](index=8&type=section&id=Condensed%20Consolidated%20Statements%20of%20Income) For Q2 2025, total revenues were $161.1 million, a decrease from the prior year, with net income falling to $11.0 million, and year-to-date figures showing similar declines Condensed Consolidated Statements of Income Highlights (in thousands of dollars, except per share data) | Metric | Three Months Ended June 30, 2025 (Unaudited) | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 (Unaudited) | Six Months Ended June 30, 2024 | | :-------------------------------- | :------------------------------------------- | :------------------------------- | :----------------------------------------- | :------------------------------- | | Total revenues | $161,133 | $171,531 | $305,443 | $321,943 | | Operating income | $19,461 | $22,904 | $33,536 | $42,490 | | Net income | $11,007 | $14,033 | $18,776 | $26,139 | | Diluted Earnings per common share | $0.37 | $0.42 | $0.62 | $0.78 | | Transaction costs | $2,224 | $26 | $3,393 | $36 | [Reconciliation from Net Income to Adjusted Net Income](index=9&type=section&id=Reconciliation%20from%20Net%20Income%20to%20Adjusted%20Net%20Income) Adjusted Net Income for Q2 2025 was $15.2 million, a decrease from Q2 2024, with year-to-date Adjusted Net Income also declining, primarily due to adjustments for share-based compensation and transaction costs Reconciliation of Net Income to Adjusted Net Income (in thousands of dollars) | Metric | Three Months Ended June 30, 2025 (Unaudited) | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 (Unaudited) | Six Months Ended June 30, 2024 | | :-------------------------- | :------------------------------------------- | :------------------------------- | :----------------------------------------- | :------------------------------- | | Net Income | $11,007 | $14,033 | $18,776 | $26,139 | | Share-based compensation | $2,133 | $2,392 | $4,245 | $4,545 | | Transaction costs | $2,224 | $26 | $3,393 | $36 | | Amortization of intangibles | $1,437 | $958 | $2,148 | $1,935 | | Adjusted Net Income | $15,249 | $18,095 | $26,177 | $32,772 | [Reconciliation from Basic Earnings per Share to Adjusted Basic Earnings per Share](index=10&type=section&id=Reconciliation%20from%20Basic%20Earnings%20per%20Share%20to%20Adjusted%20Basic%20Earnings%20per%20Share) Adjusted Basic Earnings per Share for Q2 2025 was $0.51, compared to GAAP Basic EPS of $0.37, reflecting adjustments for non-GAAP items Basic vs. Adjusted Basic Earnings per Share | Metric | Three Months Ended June 30, 2025 (Unaudited) | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 (Unaudited) | Six Months Ended June 30, 2024 | | :-------------------------- | :------------------------------------------- | :------------------------------- | :----------------------------------------- | :------------------------------- | | Basic Earnings per Share | $0.37 | $0.43 | $0.62 | $0.79 | | Adjusted Basic Earnings per Share | $0.51 | $0.55 | $0.87 | $0.99 | [Reconciliation from Diluted Earnings per Share to Adjusted Diluted Earnings per Share](index=10&type=section&id=Reconciliation%20from%20Diluted%20Earnings%20per%20Share%20to%20Adjusted%20Diluted%20Earnings%20per%20Share) Adjusted Diluted Earnings per Share for Q2 2025 was $0.51, compared to GAAP Diluted EPS of $0.37, indicating the impact of non-GAAP adjustments Diluted vs. Adjusted Diluted Earnings per Share | Metric | Three Months Ended June 30, 2025 (Unaudited) | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 (Unaudited) | Six Months Ended June 30, 2024 | | :---------------------------- | :------------------------------------------- | :------------------------------- | :----------------------------------------- | :------------------------------- | | Diluted Earnings per Share | $0.37 | $0.42 | $0.62 | $0.78 | | Adjusted Diluted Earnings per Share | $0.51 | $0.55 | $0.86 | $0.97 | [Reconciliation from Net Income to Adjusted EBITDA](index=12&type=section&id=Reconciliation%20from%20Net%20Income%20to%20Adjusted%20EBITDA) Adjusted EBITDA for Q2 2025 was $28.8 million, a 7.4% decrease from Q2 2024, with year-to-date Adjusted EBITDA also declining by 10.8% Reconciliation of Net Income to Adjusted EBITDA (in thousands of dollars) | Metric | Three Months Ended June 30, 2025 (Unaudited) | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 (Unaudited) | Six Months Ended June 30, 2024 | | :---------------- | :------------------------------------------- | :------------------------------- | :----------------------------------------- | :------------------------------- | | Net Income | $11,007 | $14,033 | $18,776 | $26,139 | | EBITDA | $23,915 | $26,275 | $41,619 | $49,089 | | Adjusted EBITDA | $28,788 | $31,052 | $50,406 | $56,466 | [Reconciliation from Net Income Margin to Adjusted EBITDA Margin](index=12&type=section&id=Reconciliation%20from%20Net%20Income%20Margin%20to%20Adjusted%20EBITDA%20Margin) Adjusted EBITDA Margin for Q2 2025 was 17.9%, a slight decrease from 18.1% in Q2 2024, with the year-to-date margin also showing a decline Net Income Margin vs. Adjusted EBITDA Margin | Metric | Three Months Ended June 30, 2025 (Unaudited) | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 (Unaudited) | Six Months Ended June 30, 2024 | | :-------------------- | :------------------------------------------- | :------------------------------- | :----------------------------------------- | :------------------------------- | | Net Income Margin | 6.8 % | 8.2 % | 6.1 % | 8.1 % | | Adjusted EBITDA Margin| 17.9 % | 18.1 % | 16.5 % | 17.6 % | [Reconciliation of Net Income to Net Free Cash Generated](index=14&type=section&id=Reconciliation%20of%20Net%20Income%20to%20Net%20Free%20Cash%20Generated) Net Free Cash Generated for Q2 2025 increased by 10.5% to $14.7 million, with a substantial year-to-date increase of 45.3% to $25.0 million, reflecting investments despite lower net income Reconciliation of Net Income to Net Free Cash Generated (in thousands of dollars) | Metric | Three Months Ended June 30, 2025 (Unaudited) | Three Months Ended June 30, 2024 | Six Months Ended June 30, 2025 (Unaudited) | Six Months Ended June 30, 2024 | | :-------------------------------------- | :------------------------------------------- | :------------------------------- | :----------------------------------------- | :------------------------------- | | Net income for the period | $11,007 | $14,033 | $18,776 | $26,139 | | Net Free Cash Generated during the period | $14,732 | $13,261 | $24,995 | $17,223 |

Financial Performance Highlights - Total revenues for the second quarter of 2025 decreased by 6.1% to $161.1 million, primarily due to a reduction in service fees from fewer transactions [1][8] - The user base generated 14.1 million money transfer transactions, down 7.8% from the previous year, although the average principal sent per transaction increased by 5.0% to $441 [1][5] - Net income for the second quarter was $11.0 million, a decrease of 21.4%, with diluted earnings per share (EPS) at $0.37, down 11.9% [2][8] Adjusted Financial Metrics - Adjusted net income totaled $15.2 million, a decrease of 16.0%, with adjusted diluted EPS at $0.51, down 7.3% [3][8] - Adjusted EBITDA decreased by 7.4% to $28.8 million, influenced by the same factors affecting net income [4][8] Year-to-Date Financial Results - Year-to-date revenues decreased by 5.1% to $305.4 million, driven by a 7.2% decrease in revenue from money transfers and money order fees [5][6] - Total volume from remittance activity slightly decreased by 0.8% to $11.8 billion, with money transfer transactions down 6.6% to 26.9 million [5][6] Cash Flow and Expenses - The company ended the second quarter of 2025 with $174.7 million in cash and cash equivalents, with net free cash generated for the quarter at $14.7 million, up 10.5% from the previous year [9][10] - Advertising and marketing expenses related to digital products amounted to $2.5 million in the first half of 2025 [10] Share Repurchase Activity - During the second quarter of 2025, the company repurchased 980,341 shares for $11.4 million, and 1.35 million shares for $16.3 million in the first half of 2025 [11] Merger Agreement - On August 10, 2025, the company entered into a merger agreement with The Western Union Company, where Western Union will acquire all outstanding shares for $16.00 per share in cash [12][13] - The completion of the merger is subject to certain closing conditions, and the company will not provide further financial guidance during this period [13]

Group 1 - Western Union will acquire International Money Express (Intermex) for approximately $500 million in total equity and enterprise value [1] - The acquisition price is set at $16.00 per share of Intermex, representing a premium of about 50% over Intermex's 90-day volume-weighted average stock price [1] - The transaction is expected to close in mid-2026, subject to customary closing conditions and regulatory approvals [1] Group 2 - Western Union anticipates that the acquisition will immediately increase its adjusted earnings per share by over $0.10 in the first full year post-transaction [1] - The deal is projected to generate approximately $30 million in cost synergies annually within the first 24 months [1] - The acquisition has received unanimous approval from the boards of both Western Union and Intermex [1]

Core Viewpoint - Western Union is acquiring International Money Express, Inc. (Intermex) for $16.00 per share in an all-cash transaction, totaling approximately $500 million, aimed at strengthening its retail presence in North America and expanding its digital customer acquisition efforts [1][5][6] Strategic Rationale and Benefits - The acquisition enhances Western Union's retail offering in the U.S. and expands its market coverage in high-potential geographies, leveraging Intermex's market knowledge and agent relationships [2][8] - It is expected to be immediately accretive to Western Union's adjusted EPS by more than $0.10 in the first full year post-close and generate approximately $30 million in annual run-rate cost synergies within the first 24 months [6][8] - The combination of both companies is positioned to drive growth across North America by integrating Intermex's capabilities into Western Union's existing network [3][8] Transaction Details - The acquisition price of $16.00 per share represents a roughly 50% premium to Intermex's 90-day volume-weighted average price [5] - The transaction has been unanimously approved by the boards of directors of both Western Union and Intermex, with recommendations for stockholders to vote in favor of the merger [7] Integration and Future Plans - The transaction is expected to close in mid-2026, subject to customary closing conditions and regulatory approvals, including stockholder approval from Intermex [9] - Following completion, a coordinated integration plan will be implemented to ensure a smooth transition for customers, agents, and partners [9]

Core Viewpoint - International Money Express, Inc. (Intermex) is set to release its Second Quarter 2025 earnings on August 11, 2025, after market close, followed by a conference call to discuss financial performance and operational achievements [1]. Company Overview - Founded in 1994, Intermex utilizes proprietary technology to facilitate money transfers from the United States, Canada, and Europe to over 60 countries [2]. - The company operates through a network of agent retailers, company-operated stores, a mobile app, and websites, fulfilling transactions via thousands of retail and bank locations globally [2]. - Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico; Guatemala City, Guatemala; London, England; and Madrid, Spain [2]. Investor Relations - The conference call will be hosted by the management team at 4:45 pm ET on August 11, 2025, with access available through the Investor Relations section of Intermex's website [3]. - Interested parties can register to participate in the call via telephone, receiving a dial-in number and unique PIN upon registration [3]. - An archived webcast of the conference call will be available for one year on Intermex's website following the event [3].

Financial Performance Highlights - Revenue increased by 130% to $773 million in Q1 2020 compared to $683 million in Q1 2019 [24, 16] - Adjusted EBITDA grew by 228% to $132 million in Q1 2020 compared to $108 million in Q1 2019 [6, 24, 20] - Net income increased by 802% to $57 million in Q1 2020 compared to $32 million in Q1 2019 [6, 24] - Free cash flow was estimated at $73 million in Q1 2020, a 52% increase from $48 million in Q1 2019 [7] - Adjusted EBITDA margin expanded by 136 basis points year-over-year to 171% [24] Operational Performance - Remittance volume increased by 173% [24] - The company converts 55% of Adjusted EBITDA to Free Cash after taxes, investments, and debt service [7] - Approximately 95% of independent agent retailers remained open for business during the COVID-19 pandemic [4] Market Position - Intermex's market share in Mexico was 180% in 2019 [22] - Intermex's market share in Guatemala was 254% in 2019 and 258% in Q1 2020 [22] COVID-19 Response - The company implemented social-distancing practices at Mexico and Guatemala call centers [4] - All headquarters employees were empowered to work from home efficiently [4] - All 33 Intermex operated stores were temporarily closed [4]

Financial Performance Highlights - Revenue for Q1 2020 reached $77.3 million, a 13% increase compared to $68.3 million in Q1 2019[21, 18] - Remittance volume in Q1 2020 was $2.6 billion, up 17.3% from $2.2 billion in Q1 2019[21, 15] - Adjusted EBITDA for Q1 2020 grew to $13.2 million, a 22.8% increase from $10.8 million in Q1 2019[21, 19] - Net income for Q1 2020 increased significantly to $5.7 million, an 80.2% rise compared to $3.2 million in Q1 2019[21, 5] - Free cash flow was $7.3 million in Q1 2020, a 52% increase from $4.8 million in Q1 2019[7, 35] Business Trends - Transaction growth saw a rebound, from -7.2% in April 2020 to 7.3% in May 2020[6] - Volume growth also recovered, from -7.2% in April 2020 to 8.7% in May 2020[6] Profitability and Efficiency - Adjusted EBITDA margin expanded by 136 basis points year-over-year to 17.1%[23] - The company is converting 55% of Adjusted EBITDA to Free Cash, after taxes, investments and debt service[7]

Second Quarter 2020 Performance - Revenue reached $85.1 million, a 2.9% increase compared to the second quarter of 2019[31] - Remittance volume totaled $2.8 billion, representing a 5.3% growth from the prior year period[31] - Adjusted EBITDA amounted to $17.4 million, a 6.8% increase year-over-year[31] - Net income increased by 26.9% to $9.0 million[31] - Adjusted EBITDA margin expanded by 75 basis points year-over-year to 20.4%[33] Growth Initiatives - Online business transactions grew by 884% in the second quarter of 2020 compared to the second quarter of 2019[14] - Online business customers increased by 608% in the second quarter of 2020 compared to the second quarter of 2019[14] - Emerging LATAM corridors experienced revenue growth of 17% from Q1 to Q2, now representing approximately 7% of total Intermex Revenue[16] Capital & Liquidity - Estimated free cash generated was $10.0 million in Q2 2020, a 16.4% increase of $1.4 million from Q2 2019[26] - The company converted 58% of Adjusted EBITDA to Free Cash after taxes, investments and debt service in Q2 2020[26] Third Quarter 2020 Guidance - The company projects revenue of $88 million – $91 million[36] - The company anticipates Adjusted EBITDA of $17 million - $18 million[36]