Intermex Reports Second-Quarter Results
International Money Express (NASDAQ: IMXI) reported Q2 2025 financial results, showing revenue decline to $161.1 million, down 6.1% year-over-year. The company posted net income of $11.0 million and diluted EPS of $0.37, decreases of 21.4% and 11.9% respectively.
Key metrics show 14.1 million money transfer transactions, down 7.8%, though average principal per transaction increased 5.0% to $441. Adjusted EBITDA decreased 7.4% to $28.8 million. Notably, IMXI announced its pending acquisition by Western Union in an all-cash merger at $16.00 per share.
The company maintained strong liquidity with $174.7 million in cash and cash equivalents, while continuing its share repurchase program with 980,341 shares bought for $11.4 million in Q2 2025.
International Money Express (NASDAQ: IMXI) ha comunicato i risultati finanziari del secondo trimestre 2025: i ricavi sono scesi a $161.1 milioni, in calo del 6.1% rispetto all'anno precedente. La società ha registrato un utile netto di $11.0 milioni e un EPS diluito di $0.37, diminuzioni rispettivamente del 21.4% e dell'11.9%.
Le metriche chiave mostrano 14.1 milioni di trasferimenti di denaro, in calo del 7.8%, sebbene l'importo medio per transazione sia aumentato del 5.0% a $441. L'EBITDA adjusted è diminuito del 7.4% a $28.8 milioni. È inoltre da segnalare l'annuncio dell'acquisizione in sospeso da parte di Western Union tramite una fusione in contanti a $16.00 per azione.
La società ha mantenuto una solida liquidità con $174.7 milioni in contanti e mezzi equivalenti, continuando il programma di riacquisto azionario con 980,341 azioni comprate per $11.4 milioni nel secondo trimestre 2025.
International Money Express (NASDAQ: IMXI) presentó los resultados financieros del segundo trimestre de 2025: los ingresos disminuyeron hasta $161.1 millones, una caída del 6.1% interanual. La compañía registró un beneficio neto de $11.0 millones y un BPA diluido de $0.37, reducciones del 21.4% y del 11.9%, respectivamente.
Las métricas clave muestran 14.1 millones de transferencias de dinero, un descenso del 7.8%, aunque el importe medio por transacción aumentó un 5.0% hasta $441. El EBITDA ajustado disminuyó un 7.4% hasta $28.8 millones. Cabe destacar que IMXI anunció su adquisición pendiente por parte de Western Union mediante una fusión íntegramente en efectivo a $16.00 por acción.
La compañía mantuvo una sólida liquidez con $174.7 millones en efectivo y equivalentes, y continuó su programa de recompra de acciones con 980,341 acciones compradas por $11.4 millones en el segundo trimestre de 2025.
International Money Express (NASDAQ: IMXI)는 2025년 2분기 실적을 발표했습니다. 매출은 $161.1 million으로 전년 동기 대비 6.1% 감소했습니다. 회사는 $11.0 million의 순이익과 희석 주당순이익(EPS) $0.37을 기록했으며, 이는 각각 21.4% 및 11.9% 감소한 수치입니다.
주요 지표는 1,410만 건의 송금 거래로 7.8% 감소했으나, 거래당 평균 금액은 5.0% 증가하여 $441를 기록했습니다. 조정 EBITDA는 7.4% 감소한 $28.8 million이었습니다. 또한 IMXI는 Western Union에 의해 주당 $16.00의 전액 현금 방식 합병으로 인수될 예정이라고 발표했습니다.
회사는 $174.7 million의 현금 및 현금성 자산으로 견실한 유동성을 유지했으며, 2025년 2분기에 980,341주를 총 $11.4 million에 재매입하는 등 자사주 매입 프로그램을 계속 진행했습니다.
International Money Express (NASDAQ: IMXI) a publié ses résultats du T2 2025 : le chiffre d'affaires a diminué pour s'établir à $161.1 million, en baisse de 6.1% en glissement annuel. La société a dégagé un résultat net de $11.0 million et un BPA dilué de $0.37, en recul respectivement de 21.4% et 11.9%.
Les indicateurs clés montrent 14.1 millions de transactions de transfert d'argent, en baisse de 7.8%, tandis que le montant moyen par transaction a augmenté de 5.0% pour atteindre $441. L'EBITDA ajusté a diminué de 7.4% à $28.8 million. À noter que IMXI a annoncé son acquisition en attente par Western Union dans le cadre d'une fusion entièrement en numéraire à $16.00 par action.
La société a maintenu une solide liquidité avec $174.7 million en liquidités et équivalents de trésorerie, et a poursuivi son programme de rachats d'actions avec 980,341 actions rachetées pour $11.4 million au T2 2025.
International Money Express (NASDAQ: IMXI) veröffentlichte die Finanzergebnisse für das 2. Quartal 2025: der Umsatz sank auf $161.1 million, ein Rückgang von 6.1% gegenüber dem Vorjahr. Das Unternehmen erzielte einen Nettoertrag von $11.0 million und einen verwässerten Gewinn je Aktie von $0.37, Rückgänge von 21.4% bzw. 11.9%.
Wesentliche Kennzahlen zeigen 14.1 Millionen Geldtransfer-Transaktionen, ein Minus von 7.8%, wobei der durchschnittliche Betrag pro Transaktion um 5.0% auf $441 gestiegen ist. Das bereinigte EBITDA ging um 7.4% auf $28.8 million zurück. Bemerkenswert ist die Ankündigung, dass IMXI von Western Union übernommen werden soll; die Übernahme wird als rein bar abgewickelte Fusion zu $16.00 je Aktie durchgeführt.
Das Unternehmen hielt eine starke Liquidität mit $174.7 million an Zahlungsmitteln und Zahlungsmitteläquivalenten und setzte sein Aktienrückkaufprogramm fort, wobei im 2. Quartal 2025 980,341 Aktien für $11.4 million zurückgekauft wurden.
- Average principal sent per transaction increased by 5.0% to $441
- Net Free Cash Generated increased 10.5% to $14.7 million in Q2
- Strong liquidity position with $174.7 million in cash and cash equivalents
- Western Union acquisition offer at $16.00 per share in all-cash deal
- Revenue declined 6.1% to $161.1 million in Q2 2025
- Net income decreased 21.4% to $11.0 million
- Money transfer transactions dropped 7.8% to 14.1 million
- Adjusted EBITDA decreased 7.4% to $28.8 million
Insights
IMXI reports declining Q2 results amid pending Western Union acquisition; transaction volume decreased while average transfer size increased.
Intermex's Q2 2025 results reveal concerning operational trends with revenues declining 6.1% to
The earnings quality deserves scrutiny with adjusted diluted EPS of
Despite revenue pressure, there are some positive signals. Net Free Cash Generated increased
The most significant development is Western Union's pending all-cash acquisition of Intermex at
The fundamental business challenge appears to be changing consumer behavior, with customers sending money less frequently but in larger amounts. While digital product growth provided some offset to declining transaction volume, the
MIAMI, Aug. 11, 2025 (GLOBE NEWSWIRE) -- International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), one of the nation’s leading global omnichannel money transfer services to Latin America and the Caribbean, today reported financial and operating results for the second quarter of 2025.
Financial performance highlights for the second quarter of 2025:
- Revenues of
$161.1 million - Net income of
$11.0 million - Diluted EPS of
$0.37 - Adjusted Diluted EPS of
$0.51 - Adjusted EBITDA of
$28.8 million
Second Quarter 2025 Financial Results (all comparisons are to the Second Quarter 2024)
Total revenues for the Company were down
The Company reported net income of
Adjusted net income totaled
Adjusted EBITDA decreased
Adjusted and other non-GAAP measures discussed above and elsewhere in this press release are defined below under the heading, Non-GAAP Measures.
Year-to-Date Financial Results for 2025 (all comparisons are to the first six months of 2024)
Revenues decreased by
The Company reported net income of
Adjusted net income totaled
Adjusted EBITDA decreased
Other Items
The Company ended the second quarter of 2025 with
During the first half of 2025, the Company incurred
The Company incurred
The Company repurchased 980,341 shares of its common stock for
Western Union Transaction Details
As previously announced, on August 10, 2025, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”) with The Western Union Company (“Western Union”) under which Western Union will acquire all of the outstanding shares of the Company in an all-cash merger (the “Merger”). The Merger Agreement provides that each share of the Company’s common stock issued and outstanding immediately prior to the effective time of the Merger (other than dissenting shares) will be cancelled and converted into the right to receive
Completion of the Merger is subject to the satisfaction or waiver of certain closing conditions. The Company cannot predict with certainty whether and when any of the required closing conditions will be satisfied or if the Merger will be consummated.
Given the pending acquisition by Western Union, the Company will not host its previously announced conference call to discuss its second quarter financial results, and the Company is no longer providing financial guidance.
Non-GAAP Measures
Adjusted Net Income, Adjusted Earnings per Share, Adjusted EBITDA, Adjusted EBITDA Margin and Net Free Cash Generated, each a Non-GAAP financial measure, are the primary metrics used by management to evaluate the financial performance of our business. We present these Non-GAAP financial measures because we believe they are frequently used by analysts, investors, and other interested parties to evaluate companies in our industry. Furthermore, we believe they are helpful in highlighting trends in our operating results, because certain of such measures exclude, among other things, the effects of certain transactions that are outside the control of management, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the jurisdictions in which we operate and capital investments.
Adjusted Net Income is defined as Net Income adjusted to add back certain charges and expenses, such as non-cash amortization of certain intangible assets resulting from business and asset acquisition transactions, non-cash compensation costs, and other items outlined in the reconciliation tables below, as these charges and expenses are not considered a part of our core business operations and are not an indicator of ongoing future Company performance.
Adjusted Earnings per Share – Basic and Diluted is calculated by dividing Adjusted Net Income by GAAP weighted-average common shares outstanding (basic and diluted).
Adjusted EBITDA is defined as Net Income before depreciation and amortization, interest expense, income taxes, and adjusted to add back certain charges and expenses, such as non-cash compensation costs and other items outlined in the reconciliation tables below, as these charges and expenses are not considered a part of our core business operations and are not an indicator of ongoing future Company performance.
Adjusted EBITDA Margin is calculated by dividing Adjusted EBITDA by Revenues.
Net Free Cash Generated is defined as Net Income before provision for credit losses and depreciation and amortization adjusted to add back certain non-cash charges and expenses, such as non-cash compensation costs, and reduced by cash used in investing activities and servicing of our debt obligations.
Adjusted Net Income, Adjusted Earnings per Share, Adjusted EBITDA, Adjusted EBITDA Margin, and Net Free Cash Generated are non-GAAP financial measures and should not be considered as an alternative to operating income, net income, net income margin or earnings per share, as a measure of operating performance or cash flows, or as a measure of liquidity. Non-GAAP financial measures are not necessarily calculated the same way by different companies and should not be considered a substitute for or superior to U.S. GAAP.
Reconciliations of Net Income, the Company’s closest GAAP measure, to Adjusted Net Income, Adjusted EBITDA, and Net Free Cash Generated, as well as a reconciliation of Earnings per Share (Basic and Diluted) to Adjusted Earnings per Share (Basic and Diluted) and Net Income Margin to Adjusted EBITDA Margin, are outlined in the tables below following the condensed consolidated financial statements.
Safe Harbor Compliance Statement for Forward-Looking Statements
This press release contains certain “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 have an effect on our future performance, including but without limitation, statements regarding our plans, objectives, financial performance, business strategies, projected results of operations, restructuring initiatives and expectations for the Company. These statements may include and be identified by words or phrases such as, without limitation, “would,” “will,” “should,” “expects,” “believes,” “anticipates,” “continues,” “could,” “may,” “might,” “plans,” “possible,” “potential,” “predicts,” “projects,” “forecasts,” “intends,” “assumes,” “estimates,” “approximately,” “shall,” “our planning assumptions,” “future outlook,” “currently,” “target,” “guidance,” and similar expressions (including the negative and plural forms of such words and phrases). These forward-looking statements are based largely on information currently available to our management and our current expectations, assumptions, plans, estimates, judgments, projections about our business and our industry, and macroeconomic conditions, and are subject to various risks, uncertainties, estimates, contingencies, and other factors, many of which are outside our control, that could cause actual results to differ materially from those expressed or implied by such forward-looking statements and could materially adversely affect our business, financial condition, results of operations, cash flows, and liquidity.
Such factors include, among others: the possibility that the conditions to the consummation of the proposed acquisition of Intermex by The Western Union Company (the “Proposed Acquisition”) will not be satisfied on the terms or timeline expected, or at all; failure to obtain, or delays in obtaining, or adverse conditions related to obtaining stockholder or regulatory approvals sought in connection with the Proposed Acquisition; changes in immigration laws and their enforcement, including any adverse effects on the level of immigrant employment, earning potential and other commercial activities; our success in expanding customer acceptance of our digital services and infrastructure, as well as developing, introducing and marketing new digital and other products and services; new technology or competitors that disrupt the current money transfer and payment ecosystem, including the introduction of new digital platforms; changes in tax laws in the United States and other countries in which we operate, including the imposition of taxes on certain types of remittances beginning in 2026; loss of, or reduction in business with, key sending agents; our ability to effectively compete in the markets in which we operate; economic factors such as inflation, the level of economic activity, recession risks and labor market conditions, as well as volatility in market interest rates; international political factors, including ongoing hostilities in Ukraine and the Middle East, political instability, tariffs, including the effects of tariffs on domestic markets and industrial activity and employment, border taxes or restrictions on remittances or transfers from the outbound countries in which we operate or plan to operate; volatility in foreign exchange rates that could affect the volume of consumer remittance activity and/or affect our foreign exchange related gains and losses; consumer confidence in our brands and in consumer money transfers generally; expansion into new geographic markets or product markets; our ability to successfully execute, manage, integrate and obtain the anticipated financial benefits of key acquisitions and mergers; cybersecurity-attacks or disruptions to our information technology, computer network systems, data centers and mobile devices applications; the ability of our risk management and compliance policies, procedures and systems to mitigate risk related to transaction monitoring; consumer fraud and other risks relating to the authenticity of customers’ orders or the improper or illegal use of our services by consumers, sending agents or digital partners; our ability to maintain favorable banking and paying agent relationships necessary to conduct our business; bank failures, sustained financial illiquidity, or illiquidity at the clearing, cash management or custodial financial institutions with which we do business; changes to banking industry regulation and practice; credit risks from our agents, digital partners and the financial institutions with which we do business; our ability to recruit and retain key personnel; our ability to maintain compliance with applicable laws and regulatory requirements, including those intended to prevent use of our money remittance services for criminal activity, those related to data and cybersecurity protection, and those related to new business initiatives; enforcement actions and private litigation under regulations applicable to money remittance services; our ability to protect intellectual property rights; our ability to satisfy our debt obligations and remain in compliance with our credit facility requirements; public health conditions, responses thereto and the economic and market effects thereof; the use of third-party vendors and service providers; weakness in U.S. or international economic conditions; and other economic, business, and/or competitive factors, risks and uncertainties, including those described in the “Risk Factors” and other sections of periodic reports and other filings that we file with the Securities and Exchange Commission. Accordingly, we caution investors and all others not to place undue reliance on any forward-looking statements. Any forward-looking statement speaks only as of the date such statement is made and we undertake no obligation to update any of the forward-looking statements.
About International Money Express, Inc.
Founded in 1994, Intermex applies proprietary technology enabling consumers to send money from the United States, Canada, Spain, Italy, the United Kingdom and Germany to more than 60 countries. The Company provides the digital movement of money through a network of agent retailers and Company-operated stores in the United States, Canada, Spain, Italy, the United Kingdom and Germany; our mobile apps; and the Company’s websites. Transactions are fulfilled and paid through thousands of retail and bank locations around the world. Intermex is headquartered in Miami, Florida, with international offices in Puebla, Mexico, Guatemala City, Guatemala, London, England, and Madrid, Spain. For more information about Intermex, please visit www.intermexonline.com.
Investor Relations:
Alex Sadowski
ir@intermexusa.com
Additional Information and Where to Find It
This communication relates to a proposed acquisition (the “Transaction”) of International Money Express, Inc. (“Intermex”) by The Western Union Company (“Western Union”).
In connection with the proposed transaction between Intermex and Western Union, Intermex will file with the Securities and Exchange Commission (the “SEC”) a proxy statement (the “Proxy Statement”), the definitive version of which will be sent or provided to Intermex stockholders. Intermex may also file other documents with the SEC regarding the proposed transaction. This document is not a substitute for the Proxy Statement or any other document which Intermex may file with the SEC. INVESTORS AND SECURITY HOLDERS ARE URGED TO READ THE PROXY STATEMENT AND ANY OTHER RELEVANT DOCUMENTS THAT ARE FILED OR WILL BE FILED WITH THE SEC, AS WELL AS ANY AMENDMENTS OR SUPPLEMENTS TO THESE DOCUMENTS, CAREFULLY AND IN THEIR ENTIRETY BECAUSE THEY CONTAIN OR WILL CONTAIN IMPORTANT INFORMATION ABOUT THE PROPOSED TRANSACTION AND RELATED MATTERS.
Investors and security holders may obtain free copies of the Proxy Statement (when it is available) and other documents that are filed with the SEC or will be filed with the SEC by Intermex (when they become available) through the website maintained by the SEC at http://www.sec.gov or from Intermex at its website, www.Intermexonline.com.
Participants in the Solicitation
Intermex, and certain of its directors and executive officers may be deemed to be participants in the solicitation of proxies from the stockholders of Intermex in connection with the Transaction under the rules of the SEC. Information about the interests of the directors and executive officers of Intermex and other persons who may be deemed to be participants in the solicitation of stockholders of Intermex in connection with the Transaction and a description of their direct and indirect interests, by security holdings or otherwise, will be included in the Proxy Statement related to the Transaction, which will be filed with the SEC. Additional information about Intermex, the directors and executive officers of Intermex and their ownership of Intermex common stock can also be found in its Annual Report on Form 10-K for the year ended December 31, 2024, as filed with the SEC on February 27, 2025, and its definitive proxy statement, as amended, as filed with the SEC on May 12, 2025, and other documents subsequently filed by Intermex with the SEC. Free copies of these documents may be obtained as described above. To the extent holdings of Intermex securities by its directors or executive officers have changed since the amounts set forth in such documents, such changes have been or will be reflected on Initial Statements of Beneficial Ownership on Form 3 or Statements of Beneficial Ownership on Form 4 filed with the SEC. Additional information regarding the identity of potential participants, and their direct or indirect interests, by security holdings or otherwise, will be included in the Proxy Statement relating to the proposed transaction when it is filed with the SEC.
| Condensed Consolidated Balance Sheets | ||||||
| June 30, | December 31, | |||||
| (in thousands of dollars) | 2025 | 2024 | ||||
| ASSETS | (Unaudited) | |||||
| Current assets: | ||||||
| Cash and cash equivalents | $ | 174,723 | $ | 130,503 | ||
| Accounts receivable, net of allowance of | 141,651 | 107,077 | ||||
| Prepaid wires, net | 23,713 | 49,205 | ||||
| Prepaid expenses and other current assets | 11,098 | 10,998 | ||||
| Total current assets | 351,185 | 297,783 | ||||
| Property and equipment, net | 53,975 | 50,354 | ||||
| Goodwill | 55,195 | 55,195 | ||||
| Intangible assets, net | 26,905 | 26,847 | ||||
| Deferred tax asset, net | 1,127 | — | ||||
| Other assets | 29,628 | 32,198 | ||||
| Total assets | $ | 518,015 | $ | 462,377 | ||
| LIABILITIES AND STOCKHOLDERS' EQUITY | ||||||
| Current liabilities: | ||||||
| Accounts payable | $ | 26,267 | $ | 19,520 | ||
| Wire transfers and money orders payable, net | 144,196 | 85,044 | ||||
| Accrued and other liabilities | 45,023 | 47,434 | ||||
| Total current liabilities | 215,486 | 151,998 | ||||
| Long-term liabilities: | ||||||
| Debt, net | 144,132 | 156,623 | ||||
| Lease liabilities, net | 16,144 | 18,582 | ||||
| Deferred tax liability, net | — | 250 | ||||
| Total long-term liabilities | 160,276 | 175,455 | ||||
| Stockholders' equity: | ||||||
| Total stockholders' equity | 142,253 | 134,924 | ||||
| Total liabilities and stockholders' equity | $ | 518,015 | $ | 462,377 | ||
| Condensed Consolidated Statements of Income | ||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||
| (in thousands of dollars, except for per share data) | 2025 | 2024 | 2025 | 2024 | ||||||||
| (Unaudited) | (Unaudited) | |||||||||||
| Revenues: | ||||||||||||
| Wire transfer and money order fees, net | $ | 132,970 | $ | 145,837 | $ | 253,137 | $ | 272,758 | ||||
| Foreign exchange gain, net | 23,681 | 22,800 | 43,862 | 43,146 | ||||||||
| Other income | 4,482 | 2,894 | 8,444 | 6,039 | ||||||||
| Total revenues | 161,133 | 171,531 | 305,443 | 321,943 | ||||||||
| Operating expenses: | ||||||||||||
| Service charges from agents and banks | 102,257 | 113,369 | 196,045 | 211,303 | ||||||||
| Salaries and benefits | 18,525 | 16,893 | 36,813 | 34,999 | ||||||||
| Other selling, general and administrative expenses | 12,354 | 10,481 | 23,343 | 20,434 | ||||||||
| Provision for credit losses | 1,858 | 1,776 | 3,924 | 3,371 | ||||||||
| Restructuring costs | — | 2,711 | 306 | 2,711 | ||||||||
| Transaction costs | 2,224 | 26 | 3,393 | 36 | ||||||||
| Depreciation and amortization | 4,454 | 3,371 | 8,083 | 6,599 | ||||||||
| Total operating expenses | 141,672 | 148,627 | 271,907 | 279,453 | ||||||||
| Operating income | 19,461 | 22,904 | 33,536 | 42,490 | ||||||||
| Interest expense | 3,093 | 3,095 | 5,793 | 5,797 | ||||||||
| Income before income taxes | 16,368 | 19,809 | 27,743 | 36,693 | ||||||||
| Income tax provision | 5,361 | 5,776 | 8,967 | 10,554 | ||||||||
| Net income | $ | 11,007 | $ | 14,033 | $ | 18,776 | $ | 26,139 | ||||
| Earnings per common share: | ||||||||||||
| Basic | $ | 0.37 | $ | 0.43 | $ | 0.62 | $ | 0.79 | ||||
| Diluted | $ | 0.37 | $ | 0.42 | $ | 0.62 | $ | 0.78 | ||||
| Weighted-average common shares outstanding: | ||||||||||||
| Basic | 29,843,687 | 32,698,951 | 30,213,762 | 33,187,196 | ||||||||
| Diluted | 29,912,615 | 33,090,806 | 30,370,069 | 33,639,811 | ||||||||
| Reconciliation from Net Income to Adjusted Net Income | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (in thousands of dollars, except for per share data) | 2025 | 2024 | 2025 | 2024 | ||||||||||||
| (Unaudited) | (Unaudited) | |||||||||||||||
| Net Income | $ | 11,007 | $ | 14,033 | $ | 18,776 | $ | 26,139 | ||||||||
| Adjusted for: | ||||||||||||||||
| Share-based compensation (a) | 2,133 | 2,392 | 4,245 | 4,545 | ||||||||||||
| Restructuring costs (b) | — | 2,711 | 306 | 2,711 | ||||||||||||
| Transaction costs (c) | 2,224 | 26 | 3,393 | 36 | ||||||||||||
| Legal contingency settlement (d) | — | (570 | ) | — | (570 | ) | ||||||||||
| Other charges and expenses (e) | 516 | 218 | 843 | 655 | ||||||||||||
| Amortization of intangibles (f) | 1,437 | 958 | 2,148 | 1,935 | ||||||||||||
| Income tax benefit related to adjustments (g) | (2,068 | ) | (1,673 | ) | (3,534 | ) | (2,679 | ) | ||||||||
| Adjusted Net Income | $ | 15,249 | $ | 18,095 | $ | 26,177 | $ | 32,772 | ||||||||
| Adjusted earnings per common share: | ||||||||||||||||
| Basic | $ | 0.51 | $ | 0.55 | $ | 0.87 | $ | 0.99 | ||||||||
| Diluted | $ | 0.51 | $ | 0.55 | $ | 0.86 | $ | 0.97 | ||||||||
(a) Represents share-based compensation relating to equity awards granted primarily to employees and independent directors of the Company.
(b) Represents primarily severance, write-off of assets and, legal and professional fees related to the execution of restructuring plans.
(c) Represents primarily financial advisory, professional and legal fees related to evaluation of strategic alternatives and business acquisition transactions.
(d) Represents a gain contingency related to a legal settlement.
(e) Represents primarily loss on disposal of fixed assets.
(f) Represents the amortization of certain intangible assets that resulted from business and asset acquisition transactions.
(g) Represents the current and deferred tax impact of the taxable adjustments to Net Income using the Company’s blended federal and state tax rate for each period. Relevant tax-deductible adjustments include all adjustments to Net Income.
| Reconciliation from Basic Earnings per Share to Adjusted Basic Earnings per Share | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| (Unaudited) | (Unaudited) | |||||||||||||||
| Basic Earnings per Share | $ | 0.37 | $ | 0.43 | $ | 0.62 | $ | 0.79 | ||||||||
| Adjusted for: | ||||||||||||||||
| Share-based compensation | 0.07 | 0.07 | 0.14 | 0.14 | ||||||||||||
| Restructuring costs | — | 0.08 | 0.01 | 0.07 | ||||||||||||
| Transaction costs | 0.07 | NM | 0.11 | NM | ||||||||||||
| Legal contingency settlement | — | (0.02 | ) | — | (0.02 | ) | ||||||||||
| Other charges and expenses | 0.02 | 0.01 | 0.03 | 0.02 | ||||||||||||
| Amortization of intangibles | 0.05 | 0.03 | 0.07 | 0.06 | ||||||||||||
| Income tax benefit related to adjustments | (0.07 | ) | (0.05 | ) | (0.12 | ) | (0.08 | ) | ||||||||
| Adjusted Basic Earnings per Share | $ | 0.51 | $ | 0.55 | $ | 0.87 | $ | 0.99 | ||||||||
NM—Amount is not meaningful
The table above may contain slight summation differences due to rounding
| Reconciliation from Diluted Earnings per Share to Adjusted Diluted Earnings per Share | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||||||
| (Unaudited) | (Unaudited) | |||||||||||||||
| Diluted Earnings per Share | $ | 0.37 | $ | 0.42 | $ | 0.62 | $ | 0.78 | ||||||||
| Adjusted for: | ||||||||||||||||
| Share-based compensation | 0.07 | 0.07 | 0.14 | 0.14 | ||||||||||||
| Restructuring costs | — | 0.08 | 0.01 | 0.07 | ||||||||||||
| Transaction costs | 0.07 | NM | 0.11 | NM | ||||||||||||
| Legal contingency settlement | — | (0.02 | ) | — | (0.02 | ) | ||||||||||
| Other charges and expenses | 0.02 | 0.01 | 0.03 | 0.02 | ||||||||||||
| Amortization of intangibles | 0.05 | 0.03 | 0.07 | 0.06 | ||||||||||||
| Income tax benefit related to adjustments | (0.07 | ) | (0.05 | ) | (0.12 | ) | (0.08 | ) | ||||||||
| Adjusted Diluted Earnings per Share | $ | 0.51 | $ | 0.55 | $ | 0.86 | $ | 0.97 | ||||||||
NM—Amount is not meaningful
The table above may contain slight summation differences due to rounding
| Reconciliation from Net Income to Adjusted EBITDA | ||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||
| (in thousands of dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||
| (Unaudited) | (Unaudited) | |||||||||||||
| Net Income | $ | 11,007 | $ | 14,033 | $ | 18,776 | $ | 26,139 | ||||||
| Adjusted for: | ||||||||||||||
| Interest expense | 3,093 | 3,095 | 5,793 | 5,797 | ||||||||||
| Income tax provision | 5,361 | 5,776 | 8,967 | 10,554 | ||||||||||
| Depreciation and amortization | 4,454 | 3,371 | 8,083 | 6,599 | ||||||||||
| EBITDA | 23,915 | 26,275 | 41,619 | 49,089 | ||||||||||
| Share-based compensation (a) | 2,133 | 2,392 | 4,245 | 4,545 | ||||||||||
| Restructuring costs (b) | — | 2,711 | 306 | 2,711 | ||||||||||
| Transaction costs (c) | 2,224 | 26 | 3,393 | 36 | ||||||||||
| Legal contingency settlement (d) | — | (570 | ) | — | (570 | ) | ||||||||
| Other charges and expenses (e) | 516 | 218 | 843 | 655 | ||||||||||
| Adjusted EBITDA | $ | 28,788 | $ | 31,052 | $ | 50,406 | $ | 56,466 | ||||||
(a) Represents share-based compensation relating to equity awards granted primarily to employees and independent directors of the Company.
(b) Represents primarily severance, write-off of assets and legal and professional fees related to the execution of restructuring plans.
(c) Represents primarily financial advisory, professional and legal fees related to evaluation of strategic alternatives and business acquisition transactions.
(d) Represents a gain contingency related to a legal settlement.
(e) Represents primarily loss on disposal of fixed assets.
| Reconciliation from Net Income Margin to Adjusted EBITDA Margin | ||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||
| 2025 | 2024 | 2025 | 2024 | |||||||||
| (Unaudited) | (Unaudited) | |||||||||||
| Net Income Margin | 6.8 | % | 8.2 | % | 6.1 | % | 8.1 | % | ||||
| Adjusted for: | ||||||||||||
| Interest expense | 1.9 | % | 1.8 | % | 1.9 | % | 1.8 | % | ||||
| Income tax provision | 3.3 | % | 3.4 | % | 2.9 | % | 3.3 | % | ||||
| Depreciation and amortization | 2.8 | % | 2.0 | % | 2.6 | % | 2.0 | % | ||||
| EBITDA Margin | 14.8 | % | 15.3 | % | 13.6 | % | 15.2 | % | ||||
| Share-based compensation | 1.3 | % | 1.4 | % | 1.4 | % | 1.4 | % | ||||
| Restructuring costs | — | % | 1.6 | % | 0.1 | % | 0.9 | % | ||||
| Transaction costs | 1.4 | % | — | % | 1.1 | % | — | % | ||||
| Legal contingency settlement | — | % | (0.3 | )% | — | % | (0.2 | )% | ||||
| Other charges and expenses | 0.3 | % | 0.1 | % | 0.3 | % | 0.2 | % | ||||
| Adjusted EBITDA Margin | 17.9 | % | 18.1 | % | 16.5 | % | 17.6 | % | ||||
The table above may contain slight summation differences due to rounding
| Reconciliation of Net Income to Net Free Cash Generated | ||||||||||||||||
| Three Months Ended June 30, | Six Months Ended June 30, | |||||||||||||||
| (in thousands of dollars) | 2025 | 2024 | 2025 | 2024 | ||||||||||||
| (Unaudited) | (Unaudited) | |||||||||||||||
| Net income for the period | $ | 11,007 | $ | 14,033 | $ | 18,776 | $ | 26,139 | ||||||||
| Depreciation and amortization | 4,454 | 3,371 | 8,083 | 6,599 | ||||||||||||
| Share-based compensation | 2,133 | 2,392 | 4,245 | 4,545 | ||||||||||||
| Provision for credit losses | 1,858 | 1,776 | 3,924 | 3,371 | ||||||||||||
| Cash used in investing activities | (4,720 | ) | (6,670 | ) | (10,033 | ) | (20,150 | ) | ||||||||
| Term loan pay downs | — | (1,641 | ) | — | (3,281 | ) | ||||||||||
| Net Free Cash Generated during the period | $ | 14,732 | $ | 13,261 | $ | 24,995 | $ | 17,223 | ||||||||
FAQ
What are IMXI's key financial results for Q2 2025?
How much is Western Union paying to acquire IMXI?
What was IMXI's transaction volume in Q2 2025?
How much cash does IMXI have on its balance sheet?
How many shares did IMXI repurchase in Q2 2025?
