10-Q · May 11, 2026
International Money Express, Inc. reported a significant decrease in revenue and net income for the first quarter of 2026, driven by a contraction in transaction volume, particularly in its core Latin American…
Earnings analysis · 10-Q
IMXI earnings analysis
Filed August 10, 2026 · Our reading of the company's report
The latest report
The supplied 10-Q extract does not include the current-quarter income statement, balance sheet, cash-flow statement, segment results, or MD&A, so revenue, margins, EPS, free cash flow, and period-over-period operating…
Read full summary
The supplied 10-Q extract does not include the current-quarter income statement, balance sheet, cash-flow statement, segment results, or MD&A, so revenue, margins, EPS, free cash flow, and period-over-period operating trends cannot be quantified reliably. Credit quality deteriorated year over year, with provisions rising to $5.5 million, or 2.2% of revenue, from $3.9 million, or 1.3%, while the company carried $113.8 million of variable-rate revolver borrowings. Risk factors were formally unchanged from the 2025 Form 10-K, but credit-loss, interest-rate, and foreign-exchange exposures remain material; repurchases were suspended during the pending merger.
Gross and operating margin
How much of each revenue dollar the business keeps.
One point per quarterly or annual filing. Both margins are shares of that report's revenue.
How we read each report
Our analysis across the last few reports.
Our model's reading of each filing, not the share price or the market's reaction. Annual and quarterly reports each occupy one position.
What stood out
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Foreign-exchange contracts increased
Foreign-currency exposure in open Mexican peso and Guatemalan quetzal tom and spot contracts was approximately $14.3 million at June 30, 2026, versus $4.7 million at December 31, 2025.
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Foreign-currency payables reduced
Foreign-currency-denominated prepaid wires declined to $8.2 million at June 30, 2026, from $33.2 million at December 31, 2025; foreign-currency wires payable declined to $14.4 million from $20.2 million.
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Limited consolidated FX sensitivity
Management stated that foreign subsidiaries represented approximately 4% of consolidated revenue for the six months ended June 30, 2026, and that a 10% currency movement would have a de minimis effect on overall operating results.
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Controls remained effective
Disclosure controls and procedures were concluded to be effective as of June 30, 2026, and management reported no changes in internal control over financial reporting that materially affected, or were reasonably likely to materially affect, the controls.
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Repurchases suspended during merger
The company had $48.3 million of remaining authorization under its repurchase program, but stated that repurchase activity was suspended and no further program repurchases were intended during the pendency of the Merger Agreement.
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No reported bank-account losses
The company reported no losses on uninsured or potentially uninsured bank accounts during the six months ended June 30, 2026, while maintaining cash accounts across the U.S. and multiple international markets.
What to watch
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Credit-loss provisions worsened
Provision for credit losses increased to approximately $5.5 million, or 2.2% of total revenue, for the six months ended June 30, 2026, from $3.9 million, or 1.3% of revenue, in the prior-year period. Management attributed the increase to agent-receivable write-offs and higher chargebacks on uncollected online transfers.
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Variable-rate debt exposure
Outstanding borrowings under the revolving credit facility were $113.8 million at June 30, 2026. A hypothetical 1% change in interest rates would change annual cash interest expense by approximately $1.1 million, creating earnings and cash-flow sensitivity to variable-rate debt.
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Sending-agent collection risk
The company had $5.5 million of agent advances receivable outstanding at June 30, 2026. Although most balances were collateralized by personal guarantees and business assets, sending-agent collection failures contributed to the higher credit-loss provision.
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No formal risk-factor changes
Item 1A states that there were no material changes to the principal risks disclosed in the 2025 Form 10-K. However, the filing continues to identify foreign-exchange exposure, including $14.3 million of open tom and spot contracts at June 30, 2026.
Management's outlook
No quantitative revenue or EPS outlook was provided in the supplied 10-Q extract. The filing does not provide a revised outlook; numeric outlook may be deferred to the earnings press release or call.
Earlier filings 4
10-K · April 30, 2026
International Money Express, Inc. reported a decrease in revenue for 2025, down 7.7% to $607.8M amid contracting transaction volumes. The company is currently pursuing a merger with Western Union, expected to provide a…
10-K · March 6, 2026
Intermex describes a focused omnichannel remittance strategy concentrated on the U.S.→LAC corridor (plus Africa/Asia), emphasizing proprietary scalable platforms, selective agent recruitment and digital/RaaS growth.…
10-Q · May 8, 2025
Intermex reported Q1 2025 revenue of $144.31M, down from $150.41M in Q1 2024, with diluted EPS of $0.25 vs $0.35 a year ago. Operating income fell to $14.08M (operating margin ~9.8%) from $19.59M in Q1 2024, while…
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.