International Money Express, Inc. (NASDAQ: IMXI ) Q1 2022 Earnings Conference Call May 4, 2022 9:00 AM ET
Company Participants
Mike Gallentine – Vice President, Investor Relations
Bob Lisy – Chairman, Chief Executive Officer & President
Andras Bende – Chief Financial Officer
Randy Nilsen – Chief Revenue Officer
Conference Call Participants
David Scharf – JMP Securities
Mark Palmer – BTIG
Michael Grondahl – Northland Securities
Alex Markgraff – KeyBanc Capital Markets
Tim Chiodo – Credit Suisse
Operator
Greetings, and welcome to International Money Express First Quarter 2022 Earnings Conference Call. At this time, all participants are in a listen-only mode. A question-and-answer session will follow the formal presentation. [Operator Instructions] As a reminder, this conference is being recorded.
I would now like to turn the conference over to your host, Mr. Mike Gallentine, Vice President of Investor Relations. Thank you, sir.
Mike Gallentine
Good morning, and welcome to our quarterly earnings call.
I would like to remind everybody that today’s call includes forward-looking statements, including our updated 2022 guidance and actual results may differ materially from expectations. For additional information on International Money Express, which we refer to as Intermex or the company, please see our SEC filings, including the risk factors described therein.
All forward-looking statements on this call are based on assumptions and beliefs as of today. You should not rely on our forward-looking statements as predictions of future events. Please refer to Slide 2 of our presentation for a description of certain forward-looking statements. The company undertakes no obligation to update such information except as required by applicable law.On this conference call, we discuss certain non-GAAP financial measures. Information required by Reg G under the Securities and Exchange Act for such non-GAAP financial measures is included in the presentation slides, our earnings press release and our annual report on Form 10-K, including reconciliation of certain non-GAAP financial measures to the appropriate GAAP measures. These can be obtained in the Investors section of our website at intermexonline.com.Presenting on today’s call will be our Chairman, Chief Executive Officer and President, Bob Lisy; and Chief Financial Officer, Andras Bende. Also on the call today are Joseph Aguilar, Chief Operating Officer; Randy Nilsen, Chief Revenue Officer; and Chris Hunt, Chief Information Officer.Let me now turn the call over to Bob. Bob Lisy Good morning all, and thank you for joining us. We appreciate your time and value your interest in Intermex. 2022 is off to an outstanding start for our company. The strength of our first quarter operating results is a demonstration of the powerful connection we have built with our customers through our unique omni-channel suite of money transfer services.The people who rely on Intermex, know they can send money home to Latin America and other areas of the world quickly, safely and efficiently. They know they can complete their money transfers by a variety of methods, whether it is through our versatile mobile application or in person from one of our thousands of conveniently located retail locations across the U.S. and Canada.As you see on Slide 3, Intermex continues to achieve unprecedented double-digit growth quarter-after-quarter, year-after-year. We are growing by these key measures and metrics uninterrupted by economic ups and downs global pandemics, or geopolitical upheaval. Andras will go into greater detail on these impressive quarter results in a bit later on the call.Moving to Slide 4. We are perfectly positioned to outperform in our sector capitalizing on double-digit average annual growth rate in total remittances to Latin America and are steadily increasing share of that business both digitally and via our retail network. We are a leading money transfer service in four of the top five Latin American markets, including Mexico, Guatemala, El Salvador and Honduras. These key markets comprise 75% of the money sent to Latin America. With the anticipated completion of the La Nacional acquisition, we will be a market leader in the top five receiving markets in LatAm.More on La Nacional in a bit. Our addressable market includes 24 million people born in Latin America or the Caribbean who live in the United States today. We provide them a valuable service making it possible for our customers to send money home to loved ones to pay for such essentials as housing, food, medical expenses and more. Intermex is an important part of that transfer of funds evidenced on Slide 5 by the impressive 20% year-over-year growth in the total number of transactions, we completed during the first quarter.As shown on Slide 6, in our four core markets, Intermex continues to take share and has […]
Protected by Patchstack