Welcome to our dedicated page for International Mny Express news (Ticker: IMXI), a resource for investors and traders seeking the latest updates and insights on International Mny Express stock.
International Money Express, Inc. (NASDAQ: IMXI), known as Intermex, generates frequent news as a money remittance and digital payments company focused on cross-border transfers. Founded in 1994 and headquartered in Miami, Florida, Intermex enables consumers to send money from the United States, Canada, Spain, Italy, the United Kingdom, and Germany to more than 60 countries, with payouts through thousands of retail and bank locations worldwide.
News about Intermex often centers on its role as a money remittance provider to Latin America and the Caribbean, as well as its expansion into additional regions. Recent announcements highlight strategic partnerships that reshape key corridors, such as alliances with Banco Industrial in Guatemala to power the Zigi App, with Caribe Express in the Dominican Republic, and with Orbit Money Transfer in Canada. These stories emphasize digital remittance experiences, financial inclusion, and enhanced access to secure transfers.
Investors and observers can also follow updates on Intermex’s technology platforms, including its Remittance-as-a-Service offering, Business-to-Business Solutions, and Payroll Card Program. Press releases describe how these services allow businesses and financial institutions to embed cross-border payments, digitize payroll, and connect to Intermex’s payout network.
Another important stream of news involves corporate developments and regulatory milestones. Intermex and The Western Union Company have entered into a merger agreement under which Western Union plans to acquire Intermex, subject to stockholder and regulatory approvals and other conditions. Company communications provide details on the merger process, financial results, and non-GAAP performance measures. For users tracking IMXI, this news feed offers a centralized view of operational initiatives, corridor expansions, partnership activity, and transaction-related disclosures.
International Money Express (NASDAQ: IMXI) reported record remittances in Q4 2020, initiating 9.0 million transfers, an increase of 18.0% compared to Q4 2019. This surpasses the previous record of 8.7 million in Q3 2020. Key markets like Mexico and Guatemala experienced 17.0% growth, with emerging markets up 21.2%, driven by the Dominican Republic, Ecuador, Colombia, Nicaragua, and Brazil. The digital platform grew by 111% over Q4 2019, highlighting a shift towards digital solutions.
International Money Express (NASDAQ: IMXI) has appointed Ernesto Luciano as the new general counsel and chief compliance officer, succeeding Jose Perez-Villarreal who is retiring. Luciano brings 20 years of legal experience, most recently serving at Kaplan Higher Education, and previously held roles at Verizon Media, HBO, and Gilat Satellite Networks. Chairman Bob Lisy highlighted Luciano's expertise in cross-border transactions and business development as key assets for the company's growth. Intermex provides money remittance services to various countries, focusing on customer-centric solutions through technology.
International Money Express (NASDAQ: IMXI) announced the appointment of Andras Bende as its new chief financial officer, effective December 7, 2020. Chairman and CEO Bob Lisy praised Bende's 20-year experience in financial services, particularly in international markets, highlighting his strategic importance to the executive team. Bende previously served as CFO at Computer Services, Inc., where he significantly contributed to the company's growth and valuation. He also held senior finance roles at GE Capital and graduated from GE's Financial Management Program.
International Money Express (NASDAQ: IMXI) announced that CEO Bob Lisy will present at the Credit Suisse 24th Annual Technology Conference on December 1 at 4:10 PM ET. The presentation will be available via a live webcast on the company's Investor Relations website. Intermex specializes in money remittance services, allowing transfers from the US and Canada to 17 Latin American countries, parts of Africa, and Asia. Established in 1994 and headquartered in Miami, Florida, Intermex emphasizes customer-centric digital money movement.
International Money Express, Inc. (NASDAQ: IMXI) will present at the Citi 2020 Financial Technology Virtual Conference. CEO Bob Lisy is scheduled to speak on November 17, 2020, at 2:15 PM ET. A live webcast and replay will be accessible via the company's Investor Relations website. Intermex is a leading money remittance services provider, facilitating transactions from the U.S. to 17 countries in Latin America, seven in Africa, and two in Asia, utilizing a network of agent retailers and digital platforms. The company, founded in 1994, is headquartered in Miami, Florida.
International Money Express (NASDAQ: IMXI) achieved a record of 3.1 million remittances in October 2020, marking a 19.3% increase from October 2019. This surpassed their previous record set in August 2020. Contributing factors included significant transaction volumes to Mexico, Guatemala, El Salvador, and Honduras. Moreover, the company's market share in core Latin American markets grew to 20.0% in Q3 2020, up from 18.7% the previous year. CEO Bob Lisy noted the strong performance amidst pandemic-related disruptions, highlighting their focused agent network strategy.
International Money Express (NASDAQ: IMXI) reported strong third quarter results for 2020, with revenues reaching $95.6 million, a 12.0% increase year-over-year. Net income surged by 135.2% to $9.5 million, with EPS rising 127.3% to $0.25. Adjusted net income and EPS also saw growth of 28% to $12.2 million and $0.32 per share, respectively. Adjusted EBITDA reached $19.1 million, a 16.0% increase, highlighting effective cost management. The company generated free cash flow of $10.5 million, marking a 78.8% rise, illustrating its strong liquidity position.
International Money Express, Inc. (NASDAQ: IMXI) will announce its Third Quarter 2020 earnings on November 4, 2020, before market opening. A conference call will follow at 8:30 AM ET to discuss the results and company strategy. Investors can participate via phone or webcast, with details available on their investor relations page. An audio replay will be accessible from November 4 until November 18, 2020. Established in 1994 and headquartered in Miami, International Money Express facilitates money transfers to 17 Latin American and Caribbean countries and offers digital services through its app.
International Money Express, Inc. (NASDAQ: IMXI) has appointed Laura Maydón to its Board of Directors, effective October 15, 2020. Chairman and CEO Bob Lisy emphasized her extensive experience in the financial services sector, particularly in Latin America and the Caribbean, as a significant asset for the company's ongoing expansion. Maydón previously served as Managing Director and CEO for Endeavor Miami and held senior roles at Visa. Her expertise is expected to enhance Intermex's strategies to better serve its customer base and maintain its market position as a leading remittance provider.
International Money Express (NASDAQ: IMXI) announced a secondary public offering of 4,925,000 shares at $13.50 per share, set to close around October 5, 2020. The offering is entirely by affiliates of Stella Point Capital and other stockholders, who will receive all proceeds. Additionally, underwriters have a 30-day option to purchase up to 738,750 additional shares. Credit Suisse leads the offering, which is registered under the SEC and made through a prospectus supplement.
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