International Money Express Inc (NASDAQ: IMXI), also known as Intermex, is a money remittance company that processes cross-border wire transfers primarily from the United States, Canada, Spain, and Italy to recipients in Latin America and the Caribbean. Revenue comes from transaction fees charged to senders and from foreign exchange spreads on converted funds. The majority of transactions flow through a retail agent network of grocery stores, convenience stores, bodegas, multi-service stores, and Company-operated locations, with funds available for pickup at payer locations typically within minutes. Intermex competes directly with Western Union, MoneyGram, Remitly, and Euronet, along with smaller money services businesses. The company also offers digital remittance channels alongside its physical agent network. Grupo Elektra, S.A.B. de C.V. is disclosed as the largest paying agent and processes a significant portion of remittances in the Latin America and Caribbean corridor. IMXI is incorporated in Delaware and is classified as a large accelerated filer as of its 10-K filed March 6, 2026.

Revenue model

Transactional fee model: IMXI earns service charges on each money transfer processed through its agent network or digital channels, plus foreign exchange conversion spreads. Key cost drivers include agent commissions and bank service charges.

Products and services

Cross-border money remittance transfers; digital remittance platform; bank account deposits, debit card transfers, mobile wallet transfers, and home delivery to recipients in select Latin American and Caribbean markets.

Customers and end markets

Senders are primarily individuals in the United States, Canada, Spain, Italy, and Germany. Sending agents are third-party retail locations such as grocery stores, convenience stores, bodegas, and multi-service stores, as well as Company-operated stores. Beneficiaries receive funds through payer networks in Latin American and Caribbean countries, primarily via large banks, financial institutions, and retail chains.

Value-chain role

Intermex acts as the network operator and licensed money transmitter sitting between retail sending agents and in-country paying agents. It processes transactions, holds and transfers funds, manages compliance, and provides the proprietary technology platform that connects senders to recipients.

Geographic exposure

Sending operations in the United States, Canada, Spain, Italy, and Germany. Receiving operations concentrated in Latin America and the Caribbean. Subject to GDPR and related data protection laws given European operations.

Competitors

Western Union, MoneyGram, Remitly, Euronet

Source: SEC 10-K, filed 2026-03-06

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