Welcome to our dedicated page for International Money Express news (Ticker: IMXI), a resource for investors and traders seeking the latest updates and insights on International Money Express stock.
International Money Express, Inc. (NASDAQ: IMXI), also known as Intermex, is a prominent provider of money transfer services focusing primarily on the U.S. to Latin America and the Caribbean (LAC) corridor. Founded in 1994 and headquartered in Miami, Florida, Intermex has established itself as a leader in the digital movement of money, offering services through various channels including agent retailers, company-operated stores, a mobile app, and the company’s websites.
Intermex’s core offerings include wire transfers, money orders, foreign exchange, and check cashing services. The majority of its revenue is derived from fees associated with wire transfers and money orders. With a robust network of over 30,000 payer locations, the company operates in 45 American states and 16 Latin American countries, ensuring easy and convenient access for customers.
Notably, Intermex has recently expanded its integration with Visa Direct, enabling U.S. customers to send money to eligible Visa Debit Card holders in 20 countries. This strategic move underlines the company’s commitment to enhancing its remittance services and ensuring seamless financial transactions across borders.
Intermex reported strong financial performance in the first quarter of 2024, achieving a record-breaking start with significant growth in revenues and net income. The company’s total revenues for the quarter were $150.4 million, up by 3.5%, while net income increased by 2.9% to $12.1 million. Additionally, the company experienced a 3.0% increase in unique active customers, generating 13.5 million money transfer transactions worth $5.5 billion in principal transferred.
The company’s strategic initiatives, such as the partnership with Félix Pago, demonstrate its commitment to innovation and customer-centric services. The partnership allows users to transfer money via WhatsApp, integrating remittance services into their everyday communication tools with fees as low as $2.99.
Intermex continues to invest in growth and operational efficiency, as evidenced by its recent move to a new headquarters in Miami and ongoing technology upgrades. The company’s stock repurchase program further underscores its strong financial position, with shares repurchased for significant amounts in the first quarter of 2024.
With international offices in Puebla, Mexico; Guatemala City, Guatemala; and Madrid, Spain, Intermex is well-positioned to continue its growth and expand its services. For more information, visit www.intermexonline.com.
International Money Express, Inc. (NASDAQ: IMXI) will present at the KeyBanc Capital Markets’ Technology Leadership Forum on August 8, 2022, at 3:00 p.m. MT/5:00 p.m. ET in Vail, CO. The presentation will feature Bob Lisy, the company’s chairman and CEO. Investors can listen via a live webcast, which will also be archived after the event.
Founded in 1994, Intermex provides money transfer services from the U.S. and Canada to 16 Latin American countries and operates through a network of agents and digital platforms.
International Money Express (NASDAQ: IMXI) will announce its Second Quarter 2022 earnings on August 3, 2022, before market open. The management will conduct a conference call at 9:00 am ET on the same day to discuss outcomes. Investors can join via phone or webcast. An audio replay will be accessible from August 3 until August 17, 2022. Founded in 1994, Intermex focuses on digital money transfer services primarily to Latin America and beyond, leveraging proprietary technology and an extensive agent network.
International Money Express, Inc. (NASDAQ: IMXI) announced a shift to a virtual presentation at the 17th Annual Needham Technology & Media Conference due to unexpected weather-related travel disruptions. The event will take place on May 18, 2022, starting at 3:00 p.m. Eastern time. CFO Andras Bende will present and comments will be shared. Interested parties can access the presentation via a webcast, with an archived version available post-event. Founded in 1994, IMXI offers money remittance services across various regions including Latin America, Africa, and Asia.
International Money Express reported robust Q1 2022 results with revenues increasing by 21.2% to $114.7 million and net income rising 29.8% to $11.7 million. The company showcased strong operational growth, notably in digital transactions, which surged 104.6%. Active customers grew 16.6%, reflecting an expanding network of agents. Intermex is poised for further growth with a projected revenue of $537 million to $546 million for 2022, reaffirming its competitive edge in Latin America remittances.
International Money Express (NASDAQ: IMXI) will present at the 17th Annual Needham Technology & Media Conference in New York City on May 17, 2022, starting at 8:45 a.m. Eastern time. The presentation will feature comments from Chief Financial Officer Andras Bende.
Investors can listen via a webcast available on the company’s investor relations page, with an archived version accessible after the event.
International Money Express, Inc. (NASDAQ: IMXI) will release its First Quarter 2022 earnings before the market opens on May 4, 2022. A conference call is scheduled for the same day at 9:00 AM ET, where management will discuss financial and operating results. Shareholders can join the call by dialing designated numbers or through a webcast here. An audio replay will be available post-call until May 18, 2022. Intermex provides money transfer services to 17 Latin American countries and beyond.
International Money Express (NASDAQ: IMXI) announced the acquisition of Envios de Valores La Nacional Corp. and LAN Holdings, significantly enhancing its market share in remittances, particularly to the Dominican Republic, where it will exceed 20%. This acquisition expands Intermex's global reach from 28 to over 70 countries and strengthens its position as a leading remittance provider to the top five Latin American markets, which account for 83% of U.S.-to-Latin America money transfers. The transaction is expected to close mid-2022, pending regulatory approvals.
International Money Express, Inc. (NASDAQ: IMXI) announced record financial results for Q4 and FY 2021. Q4 revenues reached $127.2 million, up 28.1% year-over-year, with a net income of $13.1 million (+36.5%). Full-year revenues totaled $459.2 million, a 28.6% increase, with net income of $46.8 million (+38.7%). The company expects 17%-19% revenue growth in 2022, driven by increasing digital transactions and agent partnerships. Strong cash flow and share repurchases reflect positive financial health.
International Money Express (NASDAQ: IMXI) has launched a new mobile money remittance app, available on both Apple and Android platforms. Designed with the LATAM consumer in mind, this app offers safe features for sending funds quickly. Its standout elements include a user-friendly interface, several funding options, and real-time selection of fees and exchange rates. Built on the IMX Connect platform, it enhances the company's omnichannel strategy, facilitating remittances to 16 countries in Latin America, eight in Africa, and two in Asia.
International Money Express, Inc. (NASDAQ: IMXI) announced further details for its Investor Day at Nasdaq MarketSite in Times Square, New York City, on March 7, 2022. The senior management will discuss the company's strategic direction and business opportunities. This in-person meeting is open to institutional investors and analysts, with registration required by March 1, 2022. A livestream will also be available from 2:00 p.m. to 4:30 p.m. ET. A replay will be accessible until March 7, 2023. Intermex specializes in money remittance services, utilizing technology to facilitate digital transactions across various regions.
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