8-K

UNITED STATES

SECURITIES AND EXCHANGE COMMISSION

Washington, D.C. 20549

FORM 8-K

CURRENT REPORT

Pursuant to Section 13 or 15(d)

of the Securities Exchange Act of 1934

Date of Report (Date of earliest event reported): August 8, 2019

INTERNATIONAL MONEY EXPRESS, INC.

(Exact name of registrant as specified in charter)

Delaware	001-37986	47-4219082
(State or Other Jurisdiction of Incorporation)	(Commission File Number)	(I.R.S. Employer Identification No.)

9480 South Dixie Highway, Miami, Florida	33156
(Address of Principal Executive Offices)	(Zip Code)

Registrant’s telephone number, including area code: (305) 671-8000

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions:

☐ Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)

☐ Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)

☐ Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))

☐ Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))

Indicate by check mark whether the registrant is an emerging growth company as defined in Rule 405 of the Securities Act of 1933 (§230.405 of this chapter) or Rule 12b-2 of the Securities Exchange Act of 1934 (§240.12b-2 of this chapter).

Emerging growth company   ☒

If an emerging growth company, indicate by check mark if the registrant has elected not to use the extended transition period for complying with any new or revised financial accounting standards provided pursuant to Section 13(a) of the Exchange Act.  ☐

Securities registered pursuant to Section 12(b) of the Act:

Title of each class	Trading Symbol(s)	Name of each exchange on which registered
Common stock ($0.0001 par value)	IMXI	The Nasdaq Capital Market

Item 2.02. Results of Operations and Financial Condition.

On August 8, 2019, International Money Express, Inc., a Delaware corporation, (the “Company”) issued a press release announcing its earnings and financial results for the fiscal quarter ended June 30, 2019.  A copy of the press release is furnished as Exhibit 99.1 to this Current Report on Form 8-K and is incorporated herein by reference.

In connection with the press release, the Company will hold a telephone conference call on August 8, 2019. A copy of the presentation for the conference call will be made available on the Company’s website for viewing by call participants. A copy of the presentation is attached hereto as Exhibit 99.2 to this Current Report on Form 8-K.

In accordance with General Instruction B.2 of Form 8-K, the information in this Current Report on Form 8-K, including Exhibit 99.1 and Exhibit 99.2, shall not be deemed to be “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liability of that section, and shall not be incorporated by reference into any registration statement or other document filed under the Securities Act of 1933, as amended, or the Exchange Act, except as shall be expressly set forth by specific reference in such filing.

Item 9.01. Financial Statements and Exhibits.

(d) Exhibits

Exhibit No. Description

99.1 Press release, dated August 8, 2019, issued by International Money Express, Inc.

99.2 Presentation Slides for Conference Call to be held by International Money Express, Inc. on August 8, 2019.

SIGNATURE

Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	INTERNATIONAL MONEY EXPRESS, INC.
Dated:  August 8, 2019	By:	/s/ Tony Lauro II
	Name:	Tony Lauro II
	Title:	Chief Financial Officer

EX-99.1

Exhibit 99.1

FOR IMMEDIATE RELEASE

International Money Express, Inc. Announces Strong Results for the Second Quarter 2019

Second Quarter 2019 - Financial Highlights

• Revenues grew 17.5% versus the prior year period based on strong performance across our business in the LATAM corridor

• Net Income totaled $7.1 million, almost four times greater than $1.8 million in the second quarter 2018

• Basic and Diluted Earnings per Share of $0.19 was 72.7% higher than the prior year as a result of our quarterly net income

• Adjusted Net Income totaled $9.6million or $0.26per Basic and Diluted Share

• Adjusted EBITDA increased by 21.9% over the prior year to $16.3 million based on strong revenue growth and operating efficiencies

• Adjusted EBITDA margin expanded 72bps compared to the prior year period to 19.7% for Second Quarter 2019

MIAMI, Florida August 8, 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 Second Quarter 2019 and will host a conference call to discuss results at 5:00pm ET.

Revenue, Net Income, Earnings per Share, and Adjusted EBITDA

Intermex generated revenue of $82.7 million in the second quarter, an increase of 17.5% over the prior year period. Revenue growth was primarily driven by volume growth in the LATAM corridor.

The Company reported net income in the second quarter of $7.1 million compared to $1.8 million in the prior year period. Adjusted net income totaled $9.6 million compared to $6.5 million in the prior year period.

Basic and diluted earnings per share in the second quarter of 2019 were $0.19 compared to $0.11 per share in the prior year period. Adjusted earnings per diluted share totaled $0.26for the second quarter 2019.

Adjusted EBITDA in the second quarter of 2019 grew 21.9% over the comparable period in the prior year to $16.3 million, driven by revenue growth and cost efficiencies. These results represent an Adjusted EBITDA margin of 19.7%, which is an expansion of 72bps compared to the prior year period margin of 19.0%.

Intermex President, Chairman and Chief Executive Officer Robert Lisy commented “We are pleased with another strong quarter of results. Intermex continues to gain market share in our core US to Latin America money transfer market. Additionally, we’ve taken strides to expand into new markets with our launch in Africa in the first quarter and launch in Canada at the beginning of the third quarter. Our second quarter results displayed our ability to generate strong revenue and net income growth, even when industry growth was moderate. 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 June 30, based on industry data, Intermex has captured 56% of the total growth in US to Mexico remittance volume, and 40% of the total growth in US to Guatemala remittance volume.

Non-GAAP Measures

For the Company, Adjusted Net Income, Adjusted Earnings per share and Adjusted EBITDA are the primary metrics used by management to evaluate the financial performance of our business. We present these Non-GAAP Measures because we believe they are frequently used by analysts, investors and other interested parties to evaluate companies in our industry. Further, we believe they are 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 Net Income is defined as net income adjusted to add back certain charges and expenses, such as transaction costs, non-cash amortization resulting from push-down accounting, 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 defined as net income 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 Net Income, Adjusted Earnings per share and Adjusted EBITDA are non-GAAP financial measures 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.

Reconciliations of Net Income, the Company’s closest GAAP measure, to Adjusted Net Income and Adjusted EBITDA as well as a reconciliation of net income per share to Adjusted Net Income per share are set forth below following the consolidated financial statements.  A quantitative reconciliation of projected 2019 Adjusted EBITDA to the most comparable GAAP measure is not available without unreasonable efforts because of the inherent difficulty in forecasting and qualifying the amounts necessary under GAAP guidance for one-time, non-recurring items including, without limitation, costs related to acquisitions and the registration of the Company’s securities, and losses related to legal contingencies or disposal of assets.

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 August 8, 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

(in thousands of dollars)	June 30, 2019		December 31, 2018
ASSETS	(Unaudited)
Current assets:
Cash	$	106,884	$	73,029
Accounts receivable, net of allowance of $670 and $842, respectively		93,029		35,795
Prepaid wires		8,890		26,655
Other prepaid expenses and current assets		2,260		3,171
Total current assets		211,063		138,650
Property and equipment, net		11,071		10,393
Goodwill		36,260		36,260
Intangible assets, net		32,058		36,395
Deferred tax asset, net		1,932		2,267
Other assets		1,993		1,874
Total assets	$	294,377	$	225,839
LIABILITIES AND STOCKHOLDERS' EQUITY
Current liabilities:
Current portion of long-term debt, net	$	5,767	$	3,936
Accounts payable		14,451		11,438
Wire transfers and money orders payable		83,780		36,311
Accrued and other		19,275		16,355
Total current liabilities		123,273		68,040
Long-term liabilities:
Debt, net		126,144		113,326
Total long-term liabilities		126,144		113,326
Stockholders' equity:
Total stockholders' equity		44,960		44,473
Total liabilities and stockholders' equity	$	294,377	$	225,839

CONSOLIDATED STATEMENTS OF OPERATIONS

	Three Months Ended June 30,
(in thousands of dollars)	2019		2018
	(Unaudited)
Revenues:
Wire transfer and money order fees	$	70,490	$	59,368
Foreign exchange		11,623		10,585
Other income		562		426
Total revenues	$	82,675	$	70,379
Operating expenses:
Service charges from agents and banks		54,622		46,323
Salaries and benefits		7,597		7,441
Other selling, general and administrative expenses		5,337		4,184
Transaction costs		-		2,553
Depreciation and amortization		3,155		3,818
Total operating expenses		70,711		64,319
Operating income		11,964		6,060
Interest expense		2,288		3,392
Income before income taxes		9,676		2,668
Income tax provision		2,602		824
Net income	$	7,074	$	1,844
Income per common share
Basic and diluted	$	0.19	$	0.11
Weighted-average common shares outstanding:
Basic		37,505,598		17,227,682
Diluted		37,594,151		17,227,682

Reconciliation from GAAP Net income to Adjusted Net Income

	Three Months Ended June 30,
(in thousands)	2019			2018
Net income	$	7,074		$	1,844
Adjusted for:
Transaction costs		-			2,553
Incentive units plan		-			485
Share-based compensation, 2018 Plan		634			-
Tender Offer Costs		386			-
Management fee		-			195
Transition expenses		-			192
Other employee severance		66			-
Other charges and expenses		59			38
Amortization of intangibles		2,312			3,098
Income tax benefit related to Adjustments		(930	)		(1,876	)
Adjusted Net Income	$	9,601		$	6,529
Adjusted Income per Share
Basic and diluted	$	0.26		$	0.38

Reconciliation from GAAP Net income to Adjusted EBITDA

	Three Months Ended June 30,
(in thousands of dollars)	2019		2018
Net income	$	7,074	$	1,844
Adjusted for:
Interest expense		2,288		3,392
Income tax provision		2,602		824
Depreciation and amortization		3,155		3,818
EBITDA		15,119		9,878
Transaction costs		-		2,553
Incentive units plan		-		485
Share-based compensation, 2018 Plan		634		-
Management fee		-		195
Tender Offer costs		386		-
Transition costs		-		192
Other employee severance		66		-
Other charges and expenses		59		38
Adjusted EBITDA	$	16,264	$	13,341

EX-99.2

Exhibit 99.2

 Second Quarter 2019Earnings Presentation                                    August 2019 

 This presentation 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 presentation speaks only as of the date of this presentation. 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 except as required by law.This presentation includes certain non-GAAP financial measures, including Adjusted Net Income, Adjusted EBITDA, Adjusted EBITDA growth, Adjusted EBITDA margin and Adjusted Earnings per Share. These non-GAAP financial measures should be considered only as supplemental to, and not as superior to, financial measures prepared in accordance with U.S. GAAP. Please refer to Slides 16 and 17 of this presentation for a reconciliation of Net Income to Adjusted Net income and Adjusted EBITDA, and Net income per share to Adjusted Earnings per Share. Adjusted Net Income is defined as net income adjusted to add back certain charges and expenses, such as transaction costs, non-cash amortization resulting from push-down accounting, 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 defined as net income 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.A quantitative reconciliation of projected 2019 Adjusted EBITDA to the most comparable GAAP measure is not available without unreasonable efforts because of the inherent difficulty in forecasting and qualifying the amounts necessary under GAAP guidance for one-time, non-recurring items including, without limitation, costs related to acquisitions and the registration of the Company’s securities, and losses related to legal contingencies or disposal of assets.  Safe Harbor Statement / Non-GAAP Financial Measures 

 On Track to Execute on 2019 Strategic Priorities  Priority #1 is to continue driving core growth initiativesLong runway aheadCore expansion in both growth and stronghold statesContinued growth opportunity in secondary and tertiary Latin American marketsExpanding our breadth and depth of service Outbound US is live to Africa and Canada outbound now live Continued development of our general purpose reloadable card (GPR) as well as online and white label capabilities   

 Review of Key Performance Indicators  Revenue growth of 17.5% year-over-year  Adjusted EBITDA(1) growth of 21.9% year-over-year  Intermex continues to aggregate share in Mexico / Guatemala  Key growth initiatives across new products and markets  Revenue  Adj. EBITDA  Market Share  Expansion  Adjusted EBITDA reflects add-backs for one-time, non-recurring items. Please see page 17 for detail on adjustments to EBITDA and a reconciliation of Net Income to Adjusted EBITDA  Net income of $7.1 million compared to $1.8 million in Q2 2018  Net Income 

 Intermex Growth Story  Money Transfer Transactions  Volume   (# In millions)  ($ in millions)  Adjusted EBITDA reflects add-backs for one-time, non-recurring items. Please see page 17 for detail on adjustments to EBITDA and a reconciliation of Net Income to Adjusted EBITDA  Revenue  Adjusted EBITDA(1)  ($ in millions)    ($ in millions)  20%   16%  18%   22%  

 Second Quarter 2019 Performance Highlights  Generated impressive year-over-year growth of key metrics:17.5% revenue growth21.9% Adjusted EBITDA growth(1)16.3% growth in remittance volumeAdjusted net income of $9.6 million or $0.26 adjusted earnings per share(1)Net income of $7.1 million vs. $1.8 million in Q2 2018. Adjusted EBITDA margin expanded 72bps year-over-year to 19.7%(1)Year-to-date as of June 30, Intermex captured 56% of the total growth in US to Mexico remittance volume and 40% of the total growth in US to Guatemala remittance volume(2)  Adjusted Net Income and Adjusted EBITDA reflect add-backs for one-time, non-recurring items. Please see pages 16 and 17 for detail on those adjustments and a reconciliation of Net Income to Adjusted Net Income and Adjusted EBITDASource: Banco de Mexico, Banco de Guatemala, World Bank US outbound volumes and Intermex company data  

 Business Model Resiliency   Year-over-Year Growth in Mexico Remittance Volume  Intermex’s differentiated business model can aggregate share at an accelerated pace during periods of moderated industry growth  Source: Banco de Mexico, World Bank US outbound volumes and Intermex company data  

     2014  2018  2Q19    14.0%  24.0%(3)  25.4%(3)  All Others  86.0%  76.0%  74.5%      2014  2018  2Q19    7.9%  17.4%(3)  18.3%(3)  All Others  92.1%  82.6%  82.0%  Favorable, Fragmented Competitive Landscape  LAC Market Landscape  Intermex enjoys a strong and growing position across key target markets  Intermex Share of Key Target Markets (2)  Total Market Size:~$90 Billion (1)  LAC Countries - 2018      Mexico Market Share Breakdown  Guatemala Market Share Breakdown    World Bank (2018). Reflects estimated LAC market size as of April 2019.Management estimated market share of remittances as of 2018.Source: Banco de Guatemala, Banco de Mexico and World Bank 2018.    Country  Size(US$B)1  Region  MEX   35.7   40%  GUA   9.6   11%  DOM   6.8   8%  COL   6.4   7%  ELS   5.5   6%  HON   4.7   5%  PRU   3.2   4%  ECU   3.1   3%  HAI   3.0   3%  BRA   2.9   3%  JAM   2.5   3%  NIC   1.5   2%  BOL   1.3   1%  OTHER   3.6   4% 

   Volume Growth captured by Others  Intermex Market Share  Mexico Remittance Volume Growth  Guatemala Remittance Volume Growth    Volume Growth captured by Intermex  Source: Banco de Mexico, Banco de Guatemala, World Bank US outbound volumes and Intermex company data   Market Share and Percent Of Industry GrowthTier I Countries  Intermex outperforms market growth in its core markets of Mexico and Guatemala.A consistent and large portion of the growth in the Mexico market is captured by Intermex.   80%20%  57%43%  61%39%  62%38%  67%33%  74%26%  57%43%  59%41%  58%42%  59%41%  44%56%  60%40% 

   Volume Growth captured by Others  Intermex Market Share  El Salvador Remittance Volume Growth  Honduras Remittance Volume Growth    Volume Growth captured by Intermex  Market Share and Percent Of Industry GrowthTier II Countries  Intermex incurred solid growth to El Salvador despite the El Salvador market growing at 1.6% (-0.3% excluding Intermex transactions)Intermex continues strong growth to Honduras growing at 33.6% vs the market growth of 10.9%  93%7%  86%14%  67%33%  73%27%  55%45%  75%25%  100%+  77%23%  55%45%  89%11%  73%27%  51%49%  Source: Banco Central de Reserva de El Salvador, Banco Central de Honduras, World Bank US outbound volumes and Intermex company data 

 Incremental Growth  We believe these opportunities should contribute to Revenue and Adjusted EBITDA in 2020 and beyond  New markets and value-add customer services are long-term growth opportunities  Africa inbound – 1Q19 launchAfrica’s total addressable market could be similar to Guatemala in terms of remittance volumeFirst wire completed January 10th, 2019Canada outbound – 3Q19 launchCanada’s total addressable market could be similar to Texas in terms of remittance volumeFirst wire completed July 9th, 2019White label processingLive with first partner and in market with additional opportunities for 2H19 

 Reiterating 2019 Financial Guidance  A quantitative reconciliation of projected 2019 Adjusted EBITDA to the most comparable GAAP measure is not available without unreasonable efforts because of the inherent difficulty in forecasting and qualifying the amounts necessary under GAAP guidance for one-time, non-recurring items including, without limitation, costs related to acquisitions and the registration of the Company’s securities, and losses related to legal contingencies or disposal of assets.   $320-$330 million Revenue  $54-$58 million Adjusted EBITDA(1) 

 Appendix 

 Consolidated Balance Sheets 

 Consolidated Statements of Operations 

 Net Income to Adj. Net Income Reconciliation     

 Net Income to Adj. EBITDA Reconciliation