International Mny Express Inc Stock Price, News & Analysis

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.

International Money Express (NASDAQ: IMXI) has announced a public offering of 4,925,000 shares of its common stock by certain stockholders, with an option to purchase an additional 738,750 shares. The offering is entirely secondary, and proceeds will go to the selling stockholders. Credit Suisse is the lead book-running manager for the offering. The shares are being offered under an effective registration statement with the SEC. Prospective investors are encouraged to review the related documents to gain comprehensive insights into the offering.

International Money Express (NASDAQ: IMXI) announced that affiliates of Stella Point Capital intend to offer 4,925,000 shares of common stock in an underwritten public offering. The offering consists entirely of secondary shares with Selling Stockholders receiving all proceeds. Additionally, there is a 30-day option for underwriters to purchase an extra 738,750 shares. Credit Suisse acts as the lead book-running manager. The shares will be offered under a shelf registration statement declared effective by the SEC.

International Money Express, Inc. (NASDAQ: IMXI) announced a partnership with ArcTouch for the redesign of its mobile money transfer application. The collaboration aims to leverage ArcTouch’s expertise in mobile app development to enhance the app experience. COO Joseph Aguilar expressed enthusiasm about the investment, highlighting the company’s strong growth in agent-driven business and the future potential in digital applications. The initiative aligns with Intermex’s commitment to innovate and connect with its customers across various regions including Latin America and the Caribbean.

International Money Express (NASDAQ: IMXI) announced the appointment of Michael Purcell as lead independent director of the board, effective September 14, 2020. This role aims to enhance corporate governance and leadership. Purcell has been a board member since the 2018 merger. Additionally, board members Robert Jahn and Stephen Paul are retiring, completing a transition to a majority independent board. The new board committee structure will also reflect this independent status, aligning with Nasdaq requirements. Intermex operates in money remittance services primarily to Latin America and the Caribbean.