Exhibit 99.1


FOR IMMEDIATE RELEASE
International Money Express, Inc. Announces earnings for the Third Quarter 2018

Third Quarter 2018 - Financial Highlights

·
Revenues grew 28.6% versus the prior year period based on strong performance across our business in Mexico and Guatemala


·
GAAP Net Loss totaled $13.4 million


·
Adjusted EBITDA increased by 50.7% over the prior year to $13.4 million based on strong revenue growth and growing operating leverage in the business


·
Adjusted EBITDA margin was 18.5% for third quarter 2018, which represents a 270 basis point expansion over the prior year period

Third Quarter 2018 – Business Highlights

·
Intermex began trading as a public company on July 27, 2018 following the closing of its previously announced transaction with FinTech Acquisition Corp II (“FinTech”)


·
In May of 2018 Intermex recorded its first month with over 2 million transactions, and has recorded over 2 million transactions every month since.

MIAMI, Florida November 8, 2018: International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), a leading money remittance services company focused on Latin America and the Caribbean corridor, today announced results for the third quarter ended September 30, 2018 and will host a conference call to discuss results at 5:00pm ET.

Intermex generated revenue of $72.5 million in the third quarter, an increase of 28.6% over the prior year. Revenue growth was primarily driven by volume growth in both Mexico and Guatemala.

The Company reported GAAP net loss in the third quarter of $13.4 million compared to $0.6 million loss in the prior year period, primarily as a result of costs related to the previously announced transaction with FinTech.

Adjusted EBITDA in the third quarter of 2018 grew 50.7% over the comparable period in the prior year to $13.4 million driven by volume growth coupled with the higher foreign exchange income and operating efficiency. This strong performance represents an Adjusted EBITDA margin of 18.5%, which was up 270 basis points over the same period a year ago.

Intermex President, Chairman and Chief Executive Officer Robert Lisy commented “Intermex continues to drive impressive growth and increased market share against the large and expanding $82 billion US to Latin America money transfer market. Our third quarter results again, displayed our ability to generate strong revenue growth and drive profitability as our business continues to scale.”


Market Highlights
Year-to-date as of September 30, based on industry data, Intermex has captured 38% of the total growth in US to Mexico remittance volume, and 47% of the total growth in US to Guatemala remittance volume.

Non-GAAP Measures
For the Company, Adjusted EBITDA is one of the primary metrics used by management to evaluate the financial performance of our business. We present Adjusted EBITDA because we believe it is frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Further, we believe it is helpful in highlighting trends in our operating results, because it excludes, among other things, certain results of decisions that are outside the control of management, while other measures can differ significantly depending on long-term strategic decisions regarding capital structure, the jurisdictions in which we operate and capital investments.

Adjusted EBITDA is defined as net income (loss) before depreciation and amortization, interest expense, income taxes, and also adjusted to add back certain charges and expenses, such as transaction costs and non-cash compensation costs, as these charges and expenses are not considered a part of our core business operations and are not an indicator of ongoing, future company performance.

Adjusted EBITDA is a non-GAAP financial measure and should not be considered as an alternative to operating income or net income as a measure of operating performance or cash flows or as a measure of liquidity. Non-GAAP financial measures are not necessarily calculated the same way by different companies and should not be considered a substitute for or superior to GAAP.

A reconciliation of GAAP Net loss to Adjusted EBITDA is available in the enclosed exhibits.

Investor and Analyst Conference Call / Presentation
Intermex will host a conference call and webcast presentation at 5:00 p.m. Eastern
Time today. The conference call can be heard by dialing: 1-877-423-9813 (U.S.) or 1-201-689-8573 (outside the U.S.) ten minutes prior to the start of the call.

The conference call and accompanying slides will be available via webcast at https://investors.intermexonline.com.  Registration for the event is required, so please register at least five minutes prior to the scheduled start time.

A webcast replay will be available approximately 2-4 hours after the conference call at https://investors.intermexonline.com/.


Safe Harbor Compliance Statement for Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. All of these forward-looking statements are based on our current expectations, assumptions, estimates and projections. While we believe these expectations, assumptions, estimates and projections are reasonable, such forward-looking statements are only predictions and involve known and unknown risks and uncertainties, many of which are beyond our control. These and other important factors may cause our actual results, performance or achievements to differ materially from any future results, performance or achievements expressed or implied by these forward-looking statements, or could affect our share price. Some of the factors that could cause actual results to differ materially from those expressed or implied by the forward-looking statements include among other things, competition in the markets in which we operate; our ability to maintain agent relationships on terms consistent with those currently in place; our ability to maintain banking relationships necessary for us to conduct our business; credit risks from our agents and the financial institutions with which we do business; bank failures, sustained financial market illiquidity, or illiquidity at our clearing, cash management or custodial financial institutions; new technology or competitors that disrupt the current ecosystem; disruptions to our information technology, computer network systems and data centers; our success in developing and introducing new products, services and infrastructure; customer confidence in our brand and in consumer money transfers generally; our ability to maintain compliance with the regulatory requirements of the jurisdictions in which we operate or plan to operate; international political factors or implementation of tariffs, border taxes or restrictions on remittances or transfers of money out of the United States; changes in tax laws and unfavorable outcomes of tax positions we take; political instability, currency restrictions and devaluation in countries in which we operate or plan to operate; weakness in U.S. or international economic conditions; change or disruption in international migration patterns; our ability to protect our brand and intellectual property rights; our ability to retain key personnel; and other factors described in the “Risk Factors” section in periodic reports we file with the Securities and Exchange Commission. All statements other than statements of historical fact included in this press release are forward-looking statements including, but not limited to, expected financial outlook for the remainder of 2018. Any forward-looking statement that we make in this press release speaks only as of November 8, 2018. We undertake no obligation to update or revise, or to publicly announce any update or revision to, any of the forward-looking statements made herein, whether as a result of new information, future events or otherwise.

About International Money Express, Inc.
At International Money Express, Inc. (NASDAQ: IMXI), the customer is at the center of everything we do.  We use proprietary technology that enables consumers to send money from the United States to Latin America and the Caribbean, including Mexico and Guatemala.  We offer the electronic movement of money and data to our customers through our network of sending and paying agents located in all 50 states, the District of Columbia and Puerto Rico, and throughout Latin America and the Caribbean.  Our services are also available digitally through intermexonline.com.  Founded in 1994 and are headquartered in Miami, Florida with offices in Puebla, Mexico, and Guatemala City, Guatemala.

Investor Relations
Sloan Bohlen
investors@intermexonline.com


International Money Express, Inc.

CONDENSED CONSOLIDATED BALANCE SHEETS

   
Successor Company
 
   
September 30,
2018
   
December 31,
2017
 
ASSETS
 
(Unaudited)
       
Current assets:
           
Cash
 
$
82,490,398
   
$
59,155,618
 
Accounts receivable, net of allowance of $340,178 and $307,562, respectively
   
80,923,807
     
51,374,377
 
Prepaid wires
   
5,119,778
     
7,675,491
 
Other prepaid expenses and current assets
   
3,472,124
     
900,386
 
Total current assets
   
172,006,107
     
119,105,872
 
                 
Property and equipment, net
   
9,525,295
     
8,490,794
 
Goodwill
   
36,259,666
     
36,259,666
 
Intangible assets, net
   
39,389,769
     
48,741,032
 
Deferred tax asset, net
   
-
     
1,748,854
 
Other assets
   
639,119
     
1,706,693
 
Total assets
 
$
257,819,956
   
$
216,052,911
 
                 
LIABILITIES AND STOCKHOLDERS' EQUITY
               
Current liabilities:
               
Current portion of long-term debt, net
 
$
4,078,627
   
$
3,913,436
 
Accounts payable
   
14,060,179
     
8,919,796
 
Wire transfers and money orders payable
   
78,152,404
     
48,276,649
 
Accrued and other
   
14,018,061
     
11,514,449
 
Total current liabilities
   
110,309,271
     
72,624,330
 
                 
Long term liabilities:
               
Deferred tax liability, net
   
5,157,019
     
-
 
Debt, net
   
104,423,502
     
107,526,462
 
Total long term liabilities
   
109,580,521
     
107,526,462
 
                 
Stockholders' equity:
               
Total stockholders' equity
   
37,930,164
     
35,902,119
 
Total liabilities and stockholders' equity
 
$
257,819,956
   
$
216,052,911
 



CONDENSED CONSOLIDATED STATEMENT OF OPERATIONS

   
Successor Company
   
Predecessor
Company
 
   
Three Months Ended
September 30,
   
Nine
Months Ended
September 30,
   
Period from
February 1, 2017
to September 30,
   
Period from
January 1, 2017
to January 31,
 
   
2018
   
2017
   
2018
   
2017
   
2017
 
   
(Unaudited)
       
Revenues:
                             
Total revenues
 
$
72,508,466
   
$
56,393,294
   
$
198,843,890
   
$
141,771,122
   
$
14,425,343
 
                                         
Operating expenses:
                                       
Service charges from agents and banks
   
48,305,007
     
37,846,027
     
132,564,938
     
94,607,887
     
9,440,774
 
Salaries and benefits
   
10,959,507
     
5,983,784
     
24,632,910
     
16,395,185
     
4,530,308
 
Other selling, general and administrative expenses
   
5,206,932
     
4,163,419
     
13,390,449
     
10,400,190
     
1,063,379
 
Transaction costs
   
6,304,972
     
-
     
10,319,283
     
6,212,602
     
3,917,188
 
Depreciation and amortization
   
4,142,139
     
4,553,042
     
11,749,513
     
12,056,986
     
381,746
 
Total operating expenses
   
74,918,557
     
52,546,272
     
192,657,093
     
139,672,850
     
19,333,395
 
                                         
Operating (loss) income
   
(2,410,091
)
   
3,847,022
     
6,186,797
     
2,098,272
     
(4,908,052
)
                                         
Interest expense
   
3,433,731
     
4,612,430
     
10,109,664
     
8,107,258
     
613,742
 
                                         
Loss before income taxes
   
(5,843,822
)
   
(765,408
)
   
(3,922,867
)
   
(6,008,986
)
   
(5,521,794
)
                                         
Income tax provision (benefit)
   
7,569,174
     
(191,727
)
   
8,185,546
     
1,052,479
     
(2,203,373
)
                                         
Net loss
   
(13,412,996
)
   
(573,681
)
   
(12,108,413
)
   
(7,061,465
)
   
(3,318,421
)
                                         
Other comprehensive  income (loss)
   
22,452
     
3,859
     
7,351
     
18,990
     
(2,453
)
                                         
Comprehensive loss
 
$
(13,390,544
)
 
$
(569,822
)
  $
(12,101,062
)  
$
(7,042,475
)
 
$
(3,320,874
)


Reconciliation from GAAP Net loss to Adjusted EBITDA

    Successor Company    
Predecessor
Company
 
   
Three Months Ended September 30,
   
Nine Months
Ended September 30,
   
Period from
February 1, 2017
to September 30,
   
Period from
January 1, 2017
to January 31,
 
(in thousands)
 
2018
   
2017
   
2018
   
2017
   
2017
 
                               
Net loss
  $
(13,412,996
)  
$
(573,681
)
 
$
(12,108,413
)
 
$
(7,061,465
)
 
$
(3,318,421
)
                                         
Adjusted for:
                                       
Interest expense
   
3,433,731
     
4,612,430
     
10,109,664
     
8,107,258
     
613,742
 
Income tax provision (benefit)
   
7,569,174
     
(191,727
)
   
8,185,546
     
1,052,479
     
(2,203,373
)
Depreciation and amortization
   
4,142,139
     
4,553,042
     
11,749,513
     
12,056,986
     
381,746
 
EBITDA
   
1,732,048
     
8,400,064
     
17,936,310
     
14,155,258
     
(4,526,306
)
Transaction costs
   
6,304,972
     
-
     
10,319,283
     
6,212,602
     
3,917,188
 
Incentive units plan
   
4,022,739
     
287,440
     
4,735,336
     
1,534,655
     
-
 
Share-based compensation, 2018 Plan
   
430,250
     
-
     
430,250
     
-
     
-
 
Change in control adjustment for stock options
   
-
     
-
     
-
     
-
     
2,812,919
 
Management fee
   
195,000
     
195,000
     
585,000
     
520,000
     
-
 
TCPA settlement
   
-
     
-
     
191,500
     
-
     
-
 
Transition expenses
   
-
     
-
     
347,909
     
-
     
-
 
Costs related to registering warrants
   
615,000
     
-
     
615,000
     
-
     
-
 
Other employee severance
   
105,950
     
-
     
105,950
     
-
     
-
 
Other charges and expenses
   
38,124
     
36,444
     
346,568
     
106,489
     
105,314
 
Adjusted EBITDA
 
$
13,444,083
   
$
8,918,948
   
$
35,613,106
   
$
22,529,004
   
$
2,309,115
 




The following information was filed by International Money Express, Inc. (IMXI) on Thursday, November 8, 2018 as an 8K 2.02 statement, which is an earnings press release pertaining to results of operations and financial condition. It may be helpful to assess the quality of management by comparing the information in the press release to the information in the accompanying 10-Q Quarterly Report statement of earnings and operation as management may choose to highlight particular information in the press release.

View differences made from one quarter to another to evaluate International Money Express, Inc.'s financial trajectory

Compare SEC Filings Year-over-Year (YoY) and Quarter-over-Quarter (QoQ)
Sample 10-K Year-over-Year (YoY) Comparison

Compare this 10-Q Quarterly Report to its predecessor by reading our highlights to see what text and tables were  removed  ,   added    and   changed   by International Money Express, Inc..

Continue

Never Miss A New SEC Filing Again


Real-Time SEC Filing Notifications
Screenshot taken from Gmail for a new 10-K Annual Report
Last10K.com Member Feature

Receive an e-mail as soon as a company files an Annual Report, Quarterly Report or has new 8-K corporate news.

Continue

We Highlighted This SEC Filing For You


SEC Filing Sentiment Analysis - Bullish, Bearish, Neutral
Screenshot taken from Wynn's 2018 10-K Annual Report
Last10K.com Member Feature

Read positive and negative remarks made by management in their entirety without having to find them in a 10-K/Q.

Continue

Widen Your SEC Filing Reading Experience


Increased Reading Area for SEC Filings
Screenshot taken from Adobe Inc.'s 10-Q Quarterly Report
Last10K.com Member Feature

Remove data columns and navigations in order to see much more filing content and tables in one view

Continue

Uncover Actionable Information Inside SEC Filings


SEC Filing Disclosures
Screenshot taken from Lumber Liquidators 10-K Annual Report
Last10K.com Member Feature

Read both hidden opportunities and early signs of potential problems without having to find them in a 10-K/Q

Continue

Adobe PDF, Microsoft Word and Excel Downloads


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshots of actual 10-K and 10-Q SEC Filings in PDF, Word and Excel formats
Last10K.com Member Feature

Export Annual and Quarterly Reports to Adobe PDF, Microsoft Word and Excel for offline viewing, annotations and analysis

Continue

FREE Financial Statements


Download Annual and Quarterly Reports as PDF, Word and Excel Documents
Screenshot of actual balance sheet from company 10-K Annual Report
Last10K.com Member Feature

Get one-click access to balance sheets, income, operations and cash flow statements without having to find them in Annual and Quarterly Reports

Continue for FREE

Intrinsic Value Calculator


Intrinsic Value Calculator
Screenshot of intrinsic value for AT&T (2019)
Last10K.com Member Feature

Our Intrinsic Value calculator estimates what an entire company is worth using up to 10 years of financial ratios to determine if a stock is overvalued or not

Continue

Financial Stability Report


Financial Stability Report
Screenshot of financial stability report for Coco-Cola (2019)
Last10K.com Member Feature

Our Financial Stability reports uses up to 10 years of financial ratios to determine the health of a company's EPS, Dividends, Book Value, Return on Equity, Current Ratio and Debt-to-Equity

Continue

Get a Better Picture of a Company's Performance


Financial Ratios
Available Financial Ratios
Last10K.com Member Feature

See how over 70 Growth, Profitability and Financial Ratios perform over 10 Years

Continue

Log in with your credentials

or    

Forgot your details?

Create Account