International Money Express Inc · Q3 2021 earnings

Briefing

Achieved double-digit growth in financial results and record highs in revenues, market share, and remittances.

Intermex reported a strong Q3 2021 with a 26.3% increase in revenues, a 21.2% increase in net income, and a record market share in Mexico, Guatemala, El Salvador, and Honduras. The company is raising its full-year 2021 guidance for Revenues and Adjusted EBITDA and narrowing its Net Income and Adjusted Net Income.

• Revenues increased by 26.3% to $120.7 million compared to the prior-year period.
• Net income increased by 21.2% to $11.5 million, with diluted EPS up 16.0% to $0.29 compared to the prior-year period.
• Adjusted net income grew by 28.3% to $15.7 million, and adjusted diluted EPS increased by 25.0% to $0.40 per share compared to the prior-year period.
• The company achieved a new record for market share in the combined countries of Mexico, Guatemala, El Salvador, and Honduras, at 21.8%.

Headline financials

Revenue & EPS history

The Company is raising its previously issued full-year 2021 guidance for Revenues and Adjusted EBITDA and narrowing its Net Income and Adjusted Net Income. For 2021, the Company now expects to generate Revenues between $450 million - $455 million, Net Income between $44 million - $45 million, Adjusted Net Income between $52 million - $53 million, and Adjusted EBITDA between $84 million - $85 million.