International Money Express, Inc. Announces Record Transactions, Revenues and Net

Fourth Quarter 2020 – Highlights

• Record Revenues of $99.3 million, an increase of 19.3% compared with the prior-year period
• Record Net Income of $9.6 million, an increase of 80.1%, and Basic and Diluted EPS of $0.25, up 78.6%, compared with the prior-year period
• Record Adjusted Net Income increased 54.3% to $11.7 million and Adjusted Basic and Diluted EPS grew 55.0% and 50.0% to $0.31 and $0.30 per share, respectively, compared with the prior-year period
• Record Adjusted EBITDA of $18.7 million, an increase of 32.3% over the prior-year period
• A 14% increase in active customers compared with the prior-year period

Full Year 2020 – Highlights

• Record Revenues of $357.2 million, an increase of 11.8% compared with the prior year
• Record Net Income of $33.8 million, an increase of 72.3%, and Basic and Diluted EPS of $0.89 and $0.88, up 71.2% and 69.2%, respectively, compared with the prior year
• Record Adjusted Net Income grew 30.0% to $42.3 million, and Adjusted Basic and Diluted EPS increased 27.6% and 26.4% to $1.11 and $1.10 per share, respectively, compared with the prior year
• Record Adjusted EBITDA of $68.4 million, an increase of 18.7% over the prior year

MIAMI, March 10, 2021 (GLOBE NEWSWIRE) — International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), a leading money remittance services company, today announced its financial results for the fourth quarter and full-year ended December 31, 2020, and will host a conference call to discuss those results at 8:30 am ET today.

Intermex Chairman, Chief Executive Officer, and President Robert Lisy commented, “This has been another incredibly productive quarter in what has been an extremely challenging year. During a period when our country, as well as the rest of the world, has been disrupted by the protracted Covid-19 pandemic, our unique strategy focusing on efficient and productive growth, combined with world-class quality service, has produced a record quarter and year of exceptional financial results.”

Lisy added, “For the last three years, this differentiated and disciplined strategy has produced exceptional net income growth of 350% and adjusted EBITDA growth of 105%, driven by the 66% revenue growth generated over that period. The Company also has a great balance sheet and generates significant cash to fund its growth. This strong foundation of success gives Intermex the confidence to increase our investments in selected attractive growth initiatives that we expect will generate strong shareholder returns in coming years, as well as reinstate annual guidance.”

Fourth Quarter Financial Results
Intermex delivered its best fourth quarter in the Company’s history with Revenues of $99.3 million, an increase of 19.3% over the prior-year period. These record Revenues were driven by a 17.7% increase in net money transfer transactions to a record 8.9 million in the fourth quarter of 2020.

The Company reported record Net Income of $9.6 million in the fourth quarter of 2020, an increase of 80.1% over the prior-year period, and basic and diluted earnings per share in the fourth quarter of 2020 were $0.25, an increase of 78.6%, compared with the prior-year period. These increases were primarily due to the revenue growth noted, lower expenses for depreciation and amortization, interest, other selling, general and administrative expenses. These were partially offset by increases in service charges from agents and banks, salaries, and income tax expense.

Record Adjusted Net Income for the fourth quarter of 2020 totaled $11.7 million, an increase of 54.3%. Adjusted basic and diluted…