International Money Express (IMXI) investor relations material

Executive summary

• Revenue for Q1 2026 was $122.0M, down 15.5% year-over-year, driven by a contraction in the retail remittance market, especially in the LAC corridor.

• Net income fell sharply to $0.5M from $7.8M in Q1 2025, a 93.6% decrease, reflecting lower transaction volumes and higher credit losses.

• Adjusted EBITDA was $12.4M, down 42.6% year-over-year, and Adjusted Net Income was $3.8M, down 65.1%.

• The pending merger with Western Union is expected to close in Q2 2026, with most regulatory approvals obtained.

Financial highlights

• Wire transfer and money order fees decreased 17.0% to $99.8M; foreign exchange gain dropped 19.3% to $16.3M.

• Operating expenses declined 9.2% to $118.3M, mainly due to lower service charges from agents and banks.

• Provision for credit losses increased 38.1% to $2.9M, reflecting higher chargebacks and agent defaults.

• Basic and diluted EPS were $0.02, down from $0.25 in Q1 2025.

• Cash and cash equivalents at quarter-end were $170.3M; $240.8M was outstanding on the revolving credit facility.

Outlook and guidance

• Management expects continued investment in digital channels, with short-term margin pressure but long-term growth potential.

• The company is working toward closing the Western Union merger in Q2 2026, with remaining regulatory approval pending from one U.S. state.