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 a record-breaking second quarter of 2021 with revenues of $116.7 million, up 37.2% year-over-year. Net income rose 47.3% to $13.2 million, with basic and diluted EPS at $0.34, an increase of 41.7%. Adjusted net income also grew 41.2% to $15.3 million, while adjusted EBITDA increased 33.4% to $23.2 million. The company has raised its full-year guidance, expecting revenues between $441 million and $450 million.
International Money Express (NASDAQ: IMXI) will announce its Second Quarter 2021 earnings on August 4, 2021, before market opening. A conference call to discuss the results is scheduled for the same day at 9:00 am ET, accessible via phone or webcast. The company facilitates money transfers from the U.S. and Canada to various countries, leveraging proprietary technology and a vast network of agents and locations. An audio replay of the call will be available after the event for a limited time.
International Money Express (IMXI) completed a significant refinancing of its secured debt, establishing a new $87.5 million term loan facility and a $150 million revolving credit facility with additional potential borrowing of $70 million. The new loan terms feature lower interest rates, reducing from LIBOR plus 450 basis points to LIBOR plus 250-300 basis points, maturing in 2026. This refinancing underscores market confidence in Intermex and enhances the company’s financial flexibility and growth potential in the Latin American remittance market.
International Money Express reported first-quarter 2021 revenues of $94.6 million, up 22.4% year-over-year. Net income rose 57.8% to $9.0 million, with basic and diluted EPS at $0.23, a 53.3% increase. Adjusted net income increased 40% to $10.6 million, and adjusted EBITDA grew 27.4% to $16.8 million. The company holds a 19.6% market share in key regions, surpassing overall market growth. For the full year, Intermex anticipates revenue growth of 16%-18%, reaching $414 million - $421 million.
International Money Express, Inc. (NASDAQ: IMXI) will announce its First Quarter 2021 earnings on May 5, 2021, before trading opens. A conference call to discuss the financial results is scheduled for the same day at 8:30 am ET. Investors can access the call by phone or through a webcast. A replay will be available from May 5 until May 19, 2021. Founded in 1994 and headquartered in Miami, the company specializes in digital money transfers to 17 Latin American countries, seven African countries, and two Asian countries, utilizing a network of agent retailers and technology.
International Money Express, Inc. (NASDAQ: IMXI) reported an all-time high in remittances for March 2021 with 3,147,116 transfers, a 23.3% increase from March 2020. Total funds transferred exceeded $1.3B, marking a 30.4% year-over-year growth. Intermex's digital platform also saw impressive growth, up 105.2%. Key markets Mexico and Guatemala experienced a 17.8% increase, capturing a 21.3% market share. Emerging markets, including Dominican Republic and Brazil, grew by 43.9%.
International Money Express (NASDAQ: IMXI) announced the appointment of Christopher Hunt as the new Chief Information Officer. Reporting to CEO Bob Lisy, Hunt is tasked with developing a tech strategy that aligns with the company's financial goals. With over 20 years of experience in IT transformation, he previously served as CTO at Bankers Healthcare Group, where he modernized technology and led acquisition projects. Intermex specializes in money remittance services to 17 countries in Latin America and operates through various channels, focusing on digital solutions to enhance customer service.
International Money Express (NASDAQ: IMXI) reported exceptional financial results for Q4 and full year 2020, highlighting record revenues of $99.3 million in Q4, a 19.3% increase year-over-year, and $357.2 million for the full year, a 11.8% increase. Net Income surged 80.1% in Q4 to $9.6 million, and 72.3% for the year to $33.8 million. Adjusted Net Income rose 54.3% in Q4 and 30.0% for the year. The company anticipates 16%-18% revenue growth for 2021, setting a projected range between $414 million and $421 million.
International Money Express, Inc. (NASDAQ: IMXI) will announce its Fourth Quarter and Full Year 2020 earnings on March 10, 2021, before market opening. A conference call to discuss financial results and strategy will be held the same day at 8:30 am ET. This call can be accessed via phone or webcast. An audio replay will be available until March 24, 2021. IMXI provides money transfer services from the US and Canada to 17 countries in Latin America, as well as locations in Africa and Asia, leveraging proprietary technology.
International Money Express (NASDAQ: IMXI) reported significant triple-digit remittance growth through its co-branded digital service with Amigo Paisano in 2020. This partnership enhances Intermex's reach into the Latin American digital market, allowing remittances to Guatemala and 17 other LATAM countries. Amigo Paisano's targeted marketing strategies and Intermex's robust app infrastructure have proven effective in facilitating secure and efficient transactions. The companies plan to further develop their co-branding initiatives to expand their service offerings in key markets.
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