International Money Express Reports 7.7% Revenue Decline and 44.5% Drop in Net Income for Fiscal Year 2025

International Money Express, Inc. (Intermex) reported a decline in financial performance for the fiscal year ending December 31, 2025, with total revenues of $607.8 million, down 7.7% from $658.6 million in 2024. The decrease was primarily driven by a 9.5% drop in wire transfer and money order fees, which totaled $502.2 million, attributed to reduced transaction volumes and a shift in consumer behavior towards sending fewer transfers at higher average amounts. The company processed approximately 53.9 million remittances, an 8.5% decrease compared to the previous year, while the principal amount sent decreased by 2.2% to $23.8 billion.

In terms of profitability, Intermex reported a net income of $32.7 million, a significant decline of 44.5% from $58.8 million in 2024. This resulted in basic and diluted earnings per share of $1.09 and $1.08, respectively, down from $1.81 and $1.79 in the prior year. The decrease in net income was influenced by increased operating expenses, which totaled $552.1 million, slightly down from $563.6 million in 2024. Notably, the company incurred $10.5 million in transaction costs related to the pending merger with The Western Union Company, alongside restructuring costs of $0.7 million.

Strategically, Intermex is in the process of merging with Western Union, having entered into a merger agreement on August 10, 2025. The merger is expected to be completed in the second quarter of 2026, pending regulatory approvals from four U.S. states and the Bank of Spain. The agreement stipulates that shareholders will receive $16.00 per share in cash. The merger is anticipated to enhance Intermex's market position, particularly in the Latin America and Caribbean corridors, which are critical to its operations.

Operationally, the company expanded its agent network by approximately 5.4% during the year, although it faced challenges in maintaining transaction volumes. The company continues to invest in digital channels to enhance customer engagement and service offerings, which have shown growth despite the overall decline in transaction numbers. As of December 31, 2025, Intermex employed 1,270 individuals across various locations, including the U.S., Mexico, Guatemala, and Europe.

Looking ahead, Intermex's management expressed cautious optimism regarding the merger with Western Union and its potential to drive future growth. However, they acknowledged ongoing challenges, including regulatory scrutiny, competitive pressures, and economic conditions that could impact the remittance market. The company remains focused on enhancing its digital services and expanding its market share in key corridors while navigating the complexities of the evolving financial landscape.