International Money Express Reports Revenue and Net Income Decline in Q2 2025

International Money Express, Inc. (IMXI) reported its financial results for the second quarter of 2025, revealing a decline in both revenue and net income compared to the same period in 2024. For the three months ended June 30, 2025, the company generated total revenues of $161.1 million, down 6.1% from $171.5 million in the prior year. The decrease was primarily attributed to a reduction in wire transfer and money order fees, which fell to $133.0 million from $145.8 million, reflecting a contraction in transaction volume, particularly in the Mexico corridor. Net income for the quarter was $11.0 million, a decrease of 21.4% from $14.0 million in the same quarter last year.

In the first half of 2025, IMXI's total revenues also decreased to $305.4 million from $321.9 million in the first half of 2024. The company reported net income of $18.8 million for the six months ended June 30, 2025, down 28.0% from $26.1 million in the prior year. The decline in profitability was influenced by increased operating expenses, which totaled $271.9 million, compared to $279.5 million in the previous year. Notably, service charges from agents and banks decreased by 7.2% to $196.0 million, while salaries and benefits rose by 5.1% to $36.8 million, reflecting the company's investment in talent acquisition and improved compensation.

Strategically, IMXI is navigating a significant merger agreement with The Western Union Company, announced on August 10, 2025. Under the terms of the agreement, each share of IMXI's common stock will be converted into $16.00 in cash, subject to customary closing conditions. The merger is expected to enhance IMXI's market position, although it may also divert management's attention and disrupt existing business relationships during the transition period.

Operationally, the company reported a slight increase in its agent network, growing by approximately 0.9% in the first half of 2025. However, the total remittances processed decreased by 6.3% to approximately 26.9 million transactions, attributed to changing consumer behavior and a contraction in the remittance market. The company continues to focus on expanding its digital services, which have seen increased volume, partially offsetting declines in traditional channels.

Looking ahead, IMXI anticipates that the restructuring efforts initiated in 2024 will yield annual savings of approximately $2.0 million, primarily from reduced compensation and facility-related expenses. However, the company also faces challenges from ongoing political and economic instability in key markets, which could impact future performance. The management remains committed to enhancing its digital offerings and expanding its market presence while navigating the complexities of the proposed merger with Western Union.