International Money Express Inc

investors.intermexonline.com

What Do They Do?

Moves money for consumers sending funds to beneficiaries across Latin America and the Caribbean, Africa, Asia and Europe through retail agents and digital channels.

How Do They Make Money?

Senders pay transfer fees when a transaction is processed; the company also earns from currency exchange spreads on transfers in currencies not pegged to the U.S. dollar, Canadian dollar or Euro. Digital partners pay a fee for transfers handled through its systems.

revenue

Segment	Share	How money arrives
Wire transfer and money order fees, net Usage-based	83% FY2022: 86%	Usage-based
Foreign exchange gain, net Usage-based	14% FY2022: 13%	Usage-based
Other income Usage-based	3.0% FY2022: 0.9%	Usage-based

Who Are Their Customers?

Consumers initiate transfers through independent retail agents, company-operated stores, or digital channels such as co-branded partner sites and apps. Digital partners also use the company’s systems to facilitate transfers.

Do Revenues Turn Into Profits?

Yes. It kept 5 cents of every revenue dollar as net income in FY2025 and turned 3 cents into free cash flow.

Operating income, FY2025

9% of revenue

▼ −41% vs FY2024 ($95M, 14%)

Net income, FY2025

5% of revenue

▼ −44% vs FY2024 ($58.8M, 9%)

Free cash flow, FY2025

3% of revenue

▼ −32% vs FY2024 ($23.1M, 4%)

How Are They Changing?

Since the FY2025 annual report

Latest quarter: Q2 FY2026, the three months to Jun 30, 2026

Revenue: ▼ −19%; vs $161.1M in Q2 FY2025
Net income: ▼ −62%; vs $11M in Q2 FY2025

Wire transfer and money order fees, net share of revenue vs 82.5% in Q2 FY2025

Growing. Revenue grew 32% in 4 years, from $459.2M in FY2021 to $607.8M in FY2025, about 7% a year.

European sending corridors The latest report describes transfers sent from Spain, Italy and Germany and payouts to beneficiaries in Europe; the older report described sending services from the United States and Canada.

Revenue over time

Wire transfer and money order fees, net Foreign exchange gain, net Other income

$1B$500M$0

FY2021 FY2022 FY2023 FY2024 FY2025

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