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MoneyGram International (NASDAQ: MGI) reported Q3 2021 results, showcasing continued growth in digital transactions. Digital revenue reached a record $70 million, up 28% year-over-year, representing 34% of total money transfer transactions. MGO's revenue surged 34% to $46.9 million, with active cross-border customers growing 31%. Despite a slight decrease in total revenue to $319.6 million, the company projects approximately $325 million in Q4 2021 revenue. A net loss of $15.6 million was recorded, impacted by a $33.6 million debt extinguishment. Adjusted EBITDA decreased 18% to $56.5 million.
MoneyGram International, Inc. (NASDAQ: MGI) is set to announce its third quarter 2021 financial results on October 29, 2021. The announcement will be led by Alex Holmes, CEO, and Larry Angelilli, CFO, during a conference call at 9 a.m. ET. Investors and analysts can access the news release and join the call through the provided participant link. MoneyGram continues to innovate in digital payments, serving nearly 150 million people globally while leveraging its mobile and API-driven platform.
MoneyGram International (NASDAQ: MGI) announced a partnership with the Stellar Development Foundation to integrate blockchain technology into its services. This collaboration will allow seamless conversion between USD Coin (USDC) and cash, enhancing liquidity and accessibility for digital assets. The settlement process will be near-instant, improving efficiency and reducing risks for users. This initiative is part of MoneyGram's strategy to innovate in cross-border payments and build bridges between digital currencies and fiat.
MoneyGram International (NASDAQ: MGI) announced its second quarter financial results for 2021, showcasing an 18% revenue growth to $329.3 million, driven by a 20% increase in money transfer revenue. Notable highlights include record customer transactions and a significant rise in digital revenue, which reached $67.9 million, up 47% year-over-year. However, a net loss of $11.1 million was reported, attributed to a $10.3 million debt extinguishment expense. The company anticipates total revenue for Q3 2021 to be between $323 million and $333 million.
MoneyGram International (NASDAQ: MGI) announced the completion of a private offering of $415 million in senior secured notes due 2026 and a $400 million term loan on July 21, 2021. The proceeds will be used to prepay existing first and second lien debt under current credit facilities along with related expenses. The notes are secured on an equal and first-priority basis and are guaranteed by certain subsidiaries. This offering, conducted under Rule 144A and Regulation S, is aimed at qualifying institutional buyers and non-U.S. persons.
MoneyGram International (NASDAQ: MGI) will announce its second quarter 2021 financial results on July 30, 2021. The report will be discussed during a conference call hosted by CEO Alex Holmes and CFO Larry Angelilli at 9 a.m. ET. The press release and webcast will be available at ir.moneygram.com. MoneyGram focuses on digital P2P payments, serving nearly 150 million customers worldwide through its innovative platform, including MoneyGram Online and MoneyGram as a Service for enterprise clients.
MoneyGram International (NASDAQ: MGI) reported a significant 44% year-over-year growth in cross-border transactions for its direct-to-consumer digital business, MoneyGram Online (MGO). The growth is attributed to rising demand for its mobile app and impressive customer retention rates. Additionally, digital receives, including sends to accounts and mobile wallets, rose 77% year-over-year. In India, digital transactions have surged to nearly 50% of total transactions, up from 10% two years ago. CEO Alex Holmes highlighted a strong financial position and optimistic growth opportunities in the cross-border P2P market.
MoneyGram International, Inc. (NASDAQ: MGI) announced the pricing of a private offering of $415 million in 5.375% senior secured notes due 2026. The offering is set to close on July 21, 2021, subject to customary conditions. These notes will be secured by all assets of the company and certain subsidiaries. Interest will accrue at a rate of 5.375% per annum, payable semi-annually starting February 1, 2022. The offering is targeted at qualified institutional buyers under Rule 144A and will not be registered under the Securities Act.
MoneyGram International, Inc. (NASDAQ: MGI) announced a proposed private offering of $415 million in senior secured notes due 2026. The proceeds will be used to prepay existing senior secured credit facilities, along with covering related expenses. The offering is contingent on market conditions and no assurance of completion is provided. The notes will be secured by liens on substantially all assets of the Company, and will be offered only to qualified institutional buyers in the U.S. or certain non-U.S. persons.
MoneyGram International has prepaid $100 million of principal under its Second Lien Credit Agreement, along with a $4 million prepayment call premium, totaling $107 million. This payment, funded by proceeds from an 'at-the-market' equity offering and cash reserves, marks a significant milestone in improving the company's capital structure. CFO Larry Angelilli noted that this debt reduction showcases MoneyGram's commitment to enhancing financial efficiency and positions the company for future growth, particularly in the digital payment sector.
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