Exhibit 99.1


FOR IMMEDIATE RELEASE
International Money Express, Inc. Announces earnings for the First Quarter 2019

First Quarter 2019 - Financial Highlights


Revenues grew 22.1% versus the prior year period based on strong performance across our business in the LATAM corridor


Net Income totaled $3.2 million compared to a net loss in the first quarter 2018 as a result of strong revenue growth


Basic and Diluted Earnings per Share were $0.09 as a result of our quarterly net income


Adjusted EBITDA increased by 21.9% over the prior year to $10.8 million based on strong revenue growth and growing operating leverage in the business


Adjusted EBITDA margin was 15.8% for first quarter 2019

MIAMI, Florida May 14, 2019
: International Money Express, Inc. (NASDAQ: IMXI) (“Intermex” or the “Company”), a leading money remittance services company focused primarily on the Latin America and Caribbean corridor, today announced results for the first quarter 2019 and will host a conference call to discuss results at 5:00pm ET.

Intermex generated revenue of $68.3 million in the first quarter, an increase of 22.1% over the prior year period. Revenue growth was primarily driven by volume growth in the LATAM corridor.

The Company reported net income in the first quarter of $3.2 million compared to a $0.5 million loss in the prior year period, primarily as a result of strong revenue growth.

Basic and diluted earnings per share in the first quarter of 2019 were $0.09 compared to loss per share of $0.03 in the prior year period.

Adjusted EBITDA in the first quarter of 2019 grew 21.9% over the comparable period in the prior year to $10.8 million driven by volume growth coupled with higher foreign exchange income and operating efficiency. These results represent an Adjusted EBITDA margin of 15.8%, which was relatively flat compared to the prior year period.

Intermex President, Chairman and Chief Executive Officer Robert Lisy commented “We are pleased with another strong quarter and start to 2019. Intermex continues to gain market share in our core $90 billion US to Latin America money transfer market. Additionally, we took strides to expand into new markets with our launch in Africa in the first quarter and planned launch in Canada in the second quarter. Our first quarter results displayed our ability to generate strong revenue and profit growth. We are pleased to reaffirm our 2019 Financial Guidance range of $320 million to $330 million for revenue and $54 million to $58 million for Adjusted EBITDA.”


Market Highlights
Year-to-date as of March 31, based on industry data, Intermex has captured 45% of the total growth in US to Mexico remittance volume, and 51% 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 U.S. GAAP.

A reconciliation of Net Income (loss), the Company’s closest GAAP measure, to Adjusted EBITDA is available in the attached 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 Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, which reflect our current view with respect to certain events that could have an effect on our future financial performance. These statements relate to expectations concerning matters that are not historical fact and may include the words or phrases such as “will,” “should,” “expects,” “believes,” “anticipates,” “plans,” “intends,” “estimates,” “approximately,” “our planning assumptions,” “future outlook,” and similar expressions. Except for historical information, matters discussed in such statements are forward-looking statements.  All of these forward-looking statements are based largely on information currently available to our management and on our current expectations, assumptions, estimates, judgments and projections about our business and our industry, and are subject to various risks and uncertainties that could cause actual results to differ materially from historical results or those currently anticipated. While we believe these expectations, assumptions, estimates, judgments 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. Accordingly, there is no assurance that our expectations will, in fact, occur or that our estimates or assumptions will be correct, and we caution investors and all others not to place undue reliance on such forward-looking statements.  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; cyber-attacks or 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 year 2019 and all forward-looking statements that are made or attributable to us are expressly qualified in their entirety by this cautionary notice. Any forward-looking statement that we make in this press release speaks only as of May 14, 2019. 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 primarily from the United States to 17 countries in Latin America and the Caribbean, including Mexico and Guatemala and four countries in Africa.  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, the Caribbean and other territories.  Our services are also available digitally through intermexonline.com.  We were 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.

CONSOLIDATED BALANCE SHEETS (unaudited)

   
March 31,
   
December 31,
 
(in thousands of dollars)
 
2019
   
2018
 
ASSETS
           
Current assets:
           
Cash
 
$
84,739
   
$
73,029
 
Accounts receivable, net of allowance of $621 and $842, respectively
   
86,664
     
35,795
 
Prepaid wires
   
7,293
     
26,655
 
Other prepaid expenses and current assets
   
2,050
     
3,171
 
Total current assets
   
180,746
     
138,650
 
                 
Property and equipment, net
   
10,727
     
10,393
 
Goodwill
   
36,260
     
36,260
 
Intangible assets, net
   
34,310
     
36,395
 
Deferred tax asset, net
   
2,817
     
2,267
 
Other assets
   
2,193
     
1,874
 
Total assets
 
$
267,053
   
$
225,839
 
                 
LIABILITIES AND STOCKHOLDERS' EQUITY
               
Current liabilities:
               
Current portion of long-term debt, net
 
$
4,498
   
$
3,936
 
Accounts payable
   
14,234
     
11,438
 
Wire transfers and money orders payable
   
86,995
     
36,311
 
Accrued and other
   
17,298
     
16,355
 
Total current liabilities
   
123,025
     
68,040
 
                 
Long term liabilities:
               
Debt, net
   
96,780
     
113,326
 
Total long term liabilities
   
96,780
     
113,326
 
                 
Stockholders' equity:
               
Total stockholders' equity
   
47,248
     
44,473
 
Total liabilities and stockholders' equity
 
$
267,053
   
$
225,839
 


CONSOLIDATED STATEMENTS OF OPERATIONS

   
Three Months Ended
 
   
March 31,
 
(in thousands of dollars)
 
2019
   
2018
 
   
(Unaudited)
 
Revenues:
           
Wire transfer and money order fees
 
$
58,451
   
$
47,854
 
Foreign exchange
   
9,402
     
7,731
 
Other income
   
496
     
371
 
Total revenues
 
$
68,349
   
$
55,956
 
                 
Operating expenses:
               
Service charges from agents and banks
   
45,569
     
37,937
 
Salaries and benefits
   
7,597
     
6,223
 
Other selling, general and administrative expenses
   
5,723
     
4,009
 
Transaction costs
   
-
     
1,461
 
Depreciation and amortization
   
3,152
     
3,789
 
Total operating expenses
   
62,041
     
53,419
 
                 
Operating income
   
6,308
     
2,537
 
                 
Interest expense
   
2,071
     
3,284
 
                 
Income (loss) before income taxes
   
4,237
     
(747
)
                 
Income tax provision (benefit)
   
1,081
     
(207
)
                 
Net income (loss)
 
$
3,156
   
$
(540
)
                 
Income (loss) per common share
               
Basic and diluted
 
$
0.09
   
$
(0.03
)

               
Weighted-average common shares outstanding:
               
Basic
   
36,182,783
     
17,227,682
 
Diluted
   
36,195,463
     
17,227,682
 


Reconciliation from Net income (loss) to Adjusted EBITDA

   
Three Months Ended March 31,
 
             
(in thousands of dollars)
 
2019
   
2018
 
             
Net income (loss)
 
$
3,156
   
$
(540
)
                 
Adjusted for:
               
Interest expense
   
2,071
     
3,284
 
Income tax provision (benefit)
   
1,081
     
(207
)
Depreciation and amortization
   
3,152
     
3,789
 
EBITDA
   
9,460
     
6,326
 
Transaction costs
   
-
     
1,461
 
Incentive units plan
   
-
     
228
 
Share-based compensation, 2018 Plan
   
626
     
-
 
Management fee
   
-
     
195
 
TCPA settlement
   
-
     
192
 
Tender Offer costs
   
513
     
-
 
Other employee severance
   
106
     
-
 
Other charges and expenses
   
59
     
426
 
Adjusted EBITDA
 
$
10,764
   
$
8,828
 




The following information was filed by International Money Express, Inc. (IMXI) on Tuesday, May 14, 2019 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.

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