IMXI - Earnings call transcript Q1 2024 | International Money Express, Inc.

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Operator

Good day, and thank you for standing by. Welcome to the International Money Express Inc.

First Quarter 2024 Earnings Conference Call. [Operator's Instructions]Please be advised that today's conference call is being recorded. I would now like to hand the call over to your speaker today, Alex Sadowski, Investor Relations Coordinator. ahead. go Please

Alex Sadowski

actual and welcome or Call. and statements today's Intermex Quarter guidance, First includes expectations, materially based including Good Money additional for would factors the Express, to like Intermex Earnings information and XXXX our I statements, that may described refer as on see to are please XXXX differ forward-looking from morning, beliefs therein. including the results to remind call we International company, assumptions our forward-looking this today. risk on call on as All which the of SEC filings, everyone

certain Bende, Financial Andras our Executive statements. Officer as senior should Chief Officer, Chairman, events. and the law. team. required included company Regulation Exchange well website to our discuss Form obligation annual including earnings measures such our non-GAAP Please reports the in You release call, certain our required we is members quarterly Form undertakes under a forward-looking financial information, financial Lisy future conference the Act Slide update on intermexonline.com. at the and will except this to on by GAAP slide. measures. predictions Securities measures the Bob financial and presentation forward-looking X of Information call our of of XX-K can description press reconciliation such on The rely refer G and by leadership on report a as of Chief non-GAAP today's be presentation obtained On no statements not for in for to Presenting as applicable certain is of our President, and of appropriate other non-GAAP These as XX-Q, measures. Investors section

Let turn to call me Bob. the over now

Robert Lisy

has respectively, particularly slower-than-expected agility we analysts, of growth. navigated all million, EPS $X.XX, exceeded start new exceptional that headwinds partners earnings Mexico, market guidance to also demonstrating Thank within have records you efficiency. shareholders, growth, but representatives. discipline. and some a to unwavering order multiple not Money and pleasure demonstrating commitment market to metrics, strong report our Express $XXX.X International joining performance. million revenue exceptional and surpassing results quarter have The our to us $XX.X of only strategic EBITDA first expectations and Despite company's It's delivered adjusted and to in XXXX, top today. operational results media market first definitely of our exceptional We achieved surged $X.XX Good record-breaking line and command, financial has for ranges expectations on morning, deliver our and delivered double-digit milestones.

driven free by efficient the million strategic completed further success retail where in our management remain. and This annual payback for primarily technologies, our the highest cash ever having investing highlighting digital We acquisition. leveraging that amount from initiatives. revenue strategies opportunities This strength The quarter, showcases presence. been standout set parts we the strategic volumes success in a with XX various the of integration of which metrics, and highs to effectiveness records market Xx across have EBITDA, our speaks $XX and in the operations us, growth of continued received which XXXX our significant about generated global including increase underscored in national our of the the cash, countries, has has a financial business

strategic Our investments our and disciplined levels. profitability engagement all-time our high digital strategy reflects mindful and marketing focused This on sustainable and have profitability user cornerstone reached efforts. through in of to success growth, growth technology channels approach our

in The the within rollout we our stage capabilities, enhanced Service not where wires also growth. partnerships We strategic anticipate market our but only advanced platform. expansion versioning offering continue remains our to for our digital digital successful a The a has future key this expand focus European of especially and International through by strengthen model, solutions new substantial financial model set particularly of approach our quarter for of for as to sustained partnerships, This driving Express of highly which Money growth forefront the our effective omnichannel rapidly and poised our defines will offering retail company a is business. expanding our the versatile remittance be growth. network, backbone sector at is our services. operations. a the anchored profitable fintech digital

to across efficiently in traditional and navigate strategy geographies identity maximize is At focus touch agents core delivering on points. profitably profitability. everything At targeting transactions specific we we digital approach Intermex omnichannel strategic of with integration exceptional surgical seamless while coverage retail, solutions, This and providing allows our to growth do. the retail of more markets ensures growth. cutting-edge various our Our comprehensive customer to

Our sophisticated price to capabilities, our ability to services the to ZIP code market showcases operational level efficiently to down precisely us demands. enabling offering our tailor

safeguarding digital expenditures operations unnecessary retail company balance fostering effectiveness, strategically ventures. business their our growth. Our by are avoid efficiency noted to helps for substantial nurture cost allowing capital the This us and

distinctive service, network uniquely our the our solutions agents, not our both competitors strengths traditional equilibrium in gold These deliver the beyond quality locally businesses, owned tools usually of marketplace but business technologies, and capabilities to technology strategic market solidifies also the difficult growth. diverse By as only leader relationship future for a makes Intermex expands our infrastructure value-added replicate. enhance them apart digital and As for retail This service us standard opportunities blending captures services. position financial our the typically in a retail exceptional model driving with landscape. leverage with providing to technology reach. cutting-edge proprietary operational and services their we highly sets This productive

for quarter XXXX operational substantial breakthroughs transformative underscored of by and MSI, advancements. has first significant been The strategic

is anchored the entry what be at for European layering level, expect current expansion. market into groundwork significant Our a the the retail will we

as services represent expand advanced our opportunity key transform platform provide we for they digital digital yet revenue are market, we in deployed reach. be and this to have growth While poised future our to a financial

dozen setting and is aligned offering, least digital in services digital impact. revitalizing goals significant our ramp stride force progress. new expansion Visa upside the expansion with signifies future is commitment team, of and expand the sales approach. fulfillment inside a and enhancing inside capabilities, a our still capabilities. with transaction our for This enrich team partnership for enhancement a stages recent made growth up, superior This is the a as of the our operational markets of customer of sales substantial our sales our while and in represents XX market our stakeholders, contributions stage enhanced strategic market capacity outside demonstrates our as to sales poised presence. members penetration early the full Our into set extensive broadening promise footprint the our to now at reach the to service to expansion our which strategic Domestically, our new tripling their major customer our roles our of enhancement experience to by of positions and technological our overall volume These commitment service. integration levels force of elevate symbolize

by into tools of service payment This and sales further engagement we new As expansion the services we quarter, new launch to so second management. delivery. reorganized move with equipping bolstered bill is do with upgraded additional by team, us our the and led enhance our market a

does amplify boosting enhanced the our market prospects. sales solely vibrancy impact depend further growth While force, our will on renewed of growth future and conditions, market our any not remittance

but market-specific these economic cope model series Mexico, not to in a just expectations did Despite us not and of achieving earnings faced across we market of meet board. business quarter, particularly our strategic growth This robust and enabled to results preparation challenges, the our where X.X%. headwinds, adaptive excel

deep our deliver ability maintain market understanding demonstrates of adjust our and our strategies profitability. to swiftly success Our momentum dynamics to and

through we to managed and to and now approach of fluctuations. financial our hand it made have strides Andras details who delve key diligent proactive into market I'll financial to our We achieve this performance CFO, Bende, the quarter. have management significant the our will targets over

Andras Bende

Bob. Thanks, new quarter of trajectory also and several robust performance this but has our only underscores of the In diversified has its set which resilience financial records, model. XXXX, business of continued not Intermex first strength

continued a $XXX.X loyalty in year-over-year The customer our successful engagement the of X.X X.X% million despite strategies. revenue market reached platform brand to customers, quarter softer-than-anticipated base and our expand, X% first customer Our Internet enhancement to showcasing increase Mexico. on strong the million, growth up

have same period seen the and compared enhanced year. our strong digital digital last user offerings. exceptional channels growth with Our profitability reflects to XX% almost our revenue enhancing footprint trend engagement by on innovative This expanding up through and efforts focused

last margin to to the new consolidated our a planning. investment a until inherently year. of quarter in net profitability from not Net million, reached not and adjusted business, income transfer thoughtful management XX quarter record we approach allowing reflecting of both us lower X.X% up EBITDA points XQ the ability basis mentioning, business, monetize improvement illustrate adoption our the our is improved our and first underscored to is These Adjusted second but margin EBITDA Our our achieved consolidation the optimize only to of figures despite eye this representing the of also scale $XX.X and services. XX.X%, strategic operations XXXX. EBITDA quarter disciplined a successful efficiently. really an first which margin records, income Also achieved while financial by worth increase, measured digital

to adjusted up XX.X% also share. per $X.XX debuted particularly diluted share earnings growth XX.X% EPS share Our per per is in noteworthy by with and $X.XX EPS increasing to

tax bit close than where rate ago to at quarter. better XX.X%, the a Our were we year remained stable fourth and X

model, the delivering softness. face highlights performance value the earnings shareholder business efficiency to Internet of us Our into nimble our lean commitment the quickly and market in nature to of allowing

On buybacks, interest driven towards weekends. cash the environment, a investment deployed our lot higher the have would during amortization rose a investments revolving million. closure for acquisition rate and new new we have usage Depreciation investment X expenses of headquarters down ongoing saw facility technology by ago, also quarter. year the otherwise while expense $X during the set mainly million credit decrease This Transfer week idle our infrastructure, our by in in the a of due in and $X.X to of i M&A, the rose XX.X% our is that to operational stock Versus higher XX%, facility. but headquarters of front, to technology,

measure for that look driven cash, is continues technology lot free a remember, and cash balance building, our generated headquarters by to in It's generate remains lower The to priming the of investments internal with model little the As attempts along measure the highly cyclicality. business efficient it our XQ. XQ, is you our unusual several exclude to in of pertains cash. number this When mostly at sheet investments. a

to items, free those cash metric our Excluding continues grow. generated

our shares for a record XXX,XXX by free evidenced shareholders As cash, of the to per usage shares commitment quarter. buyback as over value to of returning totaling

in efforts the measures margins. of management, significant DNA. As saw good at where to we've earnings what particularly protect in expenses, cost efficiency implemented terms is MX indicate, for core our drive and strategic financial results the quarter SG&A we're and This

to further As the expect our the in the offshore charge part $X project efficiency a business, This of entities. support strategic anticipate we generate this second over our restructuring underscores of to end restructuring maximizing and of program, complete strategic of annualized quarter, optimize roughly at we in area initiative We'll recurring company. commitment excellence our savings. aimed plan in a XXXX launched the Lonato move by second the to the With operational every quarter. million continued $X.X the million

initiatives generation XXXX, and we to focused cash in discipline. journey maintaining our remains rigorous while strategy As financial cost growth control financial strong our leveraging on invest in continue our

well Our balanced exceptional shareholders. to financial meet positioned we our remain that delivering and our to continue ensures goals approach value

Looking promising. is for company the outlook ahead, our

foundation We're deliver our technology in strong our to and value for shareholders. our offerings, market are enhance into expansion success. service eager customers investments strategic markets and ongoing expand and long-term laying Our new to exceptional a

recent realize our Additionally, realized their particularly we Leeson as acquisitions, streamlined with continue expect their operations and we sales. to and have to up synergies ramp through

will rest of our the the Aside remain on million full year $X.X from approximately guidance GAAP cost of the unchanged. impact restructuring EPS, charge

we though to the a optimistic about the soft guide our should maybe revenue recognize Mexico we guided ranges in are earnings ability towards within We low our end persist. of to, deliver market

share; million to revenue of $XX.X $X.XX we Fully EPS XXXX, of diluted So $XXX million million $XXX.X to to of $X.XX $X.XX, GAAP for GAAP adjusted and diluted million EBITDA diluted quarter, $X.XX diluted EPS share. per of for of the and revenue million. we EPS to full anticipate $X.XX $XXX.X to anticipate second of million. million adjusted $XXX.X $XX.X year $X.XX $X.XX. to $X.XX of the EBITDA $XXX per million EPS adjusted And $XXX.X to adjusted of to Fully

Robert Lisy

first the of XXXX Money successful conclusion, Express. has quarter extraordinarily for In International been an

of continued sharing foundation progress goals, steadfast your We and and financial solid have vision. and our support We We for achievements. setting in a our appreciate strategic success trust look growth. continued to exceeded many our forward strategic and

are welcome your your further provide future into We to take to We strategic projections. the now are our and initiatives insights future. plans eager and questions outlook discuss optimistic and our inquiries ready performance, for and

Operator

[Operator's of Crespi, be Manas Instructions]Our Hart Company. from first will Gas question Gala coming &

Gas Gala

assumption what talk year Mexico? their health you're your the we of growth from just in in the for remitter peso. maybe versus maybe what about that general strengthening the terms Can And you're And all terms USD jobs, in for seeing customers on touch that. of seeing Mexican wages, also

Robert Lisy

volatility the amount reasonable numbers. of a in Mexico growth been There's

that to month, as March. to X most The marketplace So look most we recent as negative the dipped try numbers numbers to line. had minus trend overall those a month final the at recent

month that a in I month. swing previous think was positive was X%. there a before the So X% X don't

bit the Sometimes as months how kind can't a the to I we're the on, not really goes of have think, fall that's little projections. our year get the better that market just -- and the expect, banking we but we reports But way them. in do system Mexico

we As be partnerships a life want we sense resource What a where investment I there's workers that comes stronger that then related stronger we're home, numbers Hard back it's factors. little the lot out strength today, to I you forward. difficult the lot to about the with a hard our the things we to know in purpose how they're of money is comes doing the now to whole to it figure at that is think to the long look their at has of with digital, to market set dollar, can because as in way the you for retail market Mexico still will of rallies A lot here the peso, weakness get send in do being think believe they're whichever or that. will noted, it, talked will if particularly tell here are doing highly and that right you It's we're increased we go sales, if resilient the work, a to here really about, and believe a and to because there's back. really what also complicated of related back

were overall to so sustained workers movement a even even when didn't able to we the back in we And the we're to huge the carwashes COVID was still service that in we move see XXXX, market had found whatever, a work, in from even we're or period. in industries if industry really downturn they whether that

on the customers. housing of areas but in we're in segment heavily the jeopardy So component, core to is I very effects of that I don't think area the the agricultural related workers, with there's that would particularly probably for viability careers our terms of certain of be influenced in West decline into starts customers. most most think, agriculture The we economically, there's to the stable, And in Midwest. are instability the even get a there housing related think Service related industry little going the changes that be But economy. the there's to areas and starts to relative to nothing number in huge affected think don't our a bit. I those our

it track just for really growing. that's inevitable been of one, still resurgence don't customer our to we a for in terms long don't such year. a Our long, to trade Mexico, or second even a the plan slowing, such on the time, a half of last base has so growth any have but plateauing growth little have We of we for is think expect but a in that great of bit

Gas Gala

it that month little appreciate scale? about I pivoting used not those talk versus we Great. market terms your performance vintages? slides. are we I'm in still the X a a wires that agent share color. in doing are already of to Maybe you I versus agent that talk at top per countries saw ramping can And those share? sure And about that per how clarification, that bit, of just

Robert Lisy

been and number top certain Le a been For ones where the us not as by it's National, the has of X really affected other acquisition factors. today, of in market countries, One, share impactful much.

weighting the on we -- that such Additionally, and we and digital, our how believe because the share those, component beating have waiting to in market but we the continue and fall same the see, retail. are and as that than weighted we're are -- will would is to you retail. is out much faster-growing it's that numbers our is believe share tell grow we with weighting can't growing to we're digital, based both at that. not versus separate hard faster we and continue as don't heavily related that would our gaining we as We retail, to market market which digital numbers the of which will And shift the

So we of indicative acquisition, to doing of because is sort of how of shift today digital. and the retail because don't we're believe that the related

really And the in how didn't of helpful indication those versus think market time. at we're doing so were an this we

Gas Gala

agent in like mind, that Got don't some there, terms on per if vintages, month. ramping performance the you. the color And up you of are ones of wires still

Robert Lisy

and better be are X lower do that's XX month people force able adding per to but in they're like margin, be much put sales can ZIP opportunity Today, to California, or which number. to wires new ZIP average average at our long same-store codes.We still an few in terms need comprised warrants to there's isn't we at previous business opportunity, have a of us agents. in are in are And the They been a They're longer on to wires that we're up, What that been overall might in I we for be is months. in underserved agents XXX within going have where a mean agent. the to successful efforts up our each or that's have the to Those us may store you they that up out past a and sales. been X you today, today wires. of would the no in the those well for that be per over well huge there, You code we've perform thousand depending agents the new a areas agents. for there's they call XXX, why the new as pick X we and and we where what gross sales may ramping in remains another delivering that a greater opportunities components. perform the be up year than ZIP could new wires the to have that There are XX,XXX our agents more the they it with out have put contribute segment But resources building typically, have to on number. successful sales XX,XXX opportunity continue we would always typically is West, age the codes, The typically we time, opportunities more those put There's is consider why that sales. tell Texas, people more always -- but we've a of more achieving churn.

And put retailers, up so locations. those in more we to quality retailers need

sales so of greater will sales of a with of locations. really expanding we can the inside some can in outside the other that focus doing into our greatly new that's the adding as focus our more team, effort things so out out outside team And the -- team weight more reps on that take XX some really invested

So the still is performing opportunity there great. well. They're

places aspects producing critical about specifics in minimize store healthy of the have know will how the or be fully following the XX all it's years be need us, thousands obviously there, take which X long Western might business. and need are the business, because more population. what unless to a that relative states, our remain a impact be us, be while for retailers I then but you've haven't for to in if broken proportionately will are primarily been broken We X states new put because record put those same-store of up the street, shared opportunities We which shares bottom quickly. it This line will a get those take but more will to churn. are sharp the continue it new that And that for just record, to which a we people ramped sort to retailers we out before another a up of ramp western another in a that's we it's

Operator

from And question Markgraff coming be our next KBCM. of will Alex

Alexander Markgraff

X questions. Actually,

this on just XX, digital. First, Slide at gross profit per looking transaction and

you if we expand that for sort expansion when curious of could there? what bar, Just look allowed Intermex of sort has the at

Andras Bende

Expansion because of lineup. of what Revenue we little reduction estimate -- expansion margin. bit initiatives for other cost per have margin a we Yes, gross

However, hopefully marketing, start expansion the short run. growing and some keep in might yes, as investments we in the see we some term, in we more too. But expect change making long we

Robert Lisy

Yes.

that. to add me Let

and than able leaders able pretty entry-level be We've marketplace of side after the which rich to into out cost is that the I the able to lower a relative the been get margins some the we've costs got. of we've we've to margin. been gross that transactions better digital gross in been and we margins, competitors some also competitive our think really to how margin what still found where those increase some of go have

was speaking side. Marcelo digital on who Chris of are that to been pricing. of and So our Part really that's able part focused is Hunt, reduce

costs before number. see Some margin you of go that the gross in that

because in strong. now -- and economics so they're think we unit so work So well, a we're the place great that

interaction, reasons, sort kind do work. that more of be bit which ago, make We of bit unit times to take related a able continuum the to unit have digital, tweak or a the ability did a the margin be X, us Back of needed maybe lower the look customer price, to to to is nimble the you at which that little quantity thing ago the days, growth little not and we have first to right? the really was only for old and But economics, at the acquisition in to unit challenge. few years take X is years economics that cost, you challenge a also have and for economics this

that's that. quality the anyone. So just piece of enjoy help and feel where tweak way can now holds people wrestle or helpful. per that little the more if we the we economics unit to now we've a app quality with erased The other unit we same lot the got we're that of with technology is us our wire, customer -- good up at the a to drive same that acquisition more profitable now with now, a make will a is the economics time, last make can sense site is one cost we At really time

Alexander Markgraff

that's Bob. just Felix And great, Yes, Pago the a on follow-up partnership. quick then

would you're Just there, how commercial the speak if of that willing sort details that be transaction. just around any if any or indication of able if But of look of there's to sort the share. type any would helpful. I economics you sort rationale that agreement don't know of maybe sort extra to color of of there's

Robert Lisy

wares consumers. the is and new our acquire cost rational expand challenge without to the a solutions to service The

investments expertise. strength we is have platform, solution leverage leverage combination doesn't of one our can our our It block future. the leverage acquire the We is innovation, large the who can Pelepas we to is great But to a which in the us So versus similar really making our license. can consumers.

in by short leveraging significantly the a is bottom platform the line already existing. However, we increase can that term, offering --

Christopher Hunt

of of like to one a in that channel things up comfortable with. obviously the a was consumers the of pursuant that's that's primarily. Latin things being lot interface to unique would omnichannel very use I our what's and the about Philippe add is And our One are strategy,

like So gives where meeting also our us as needs to it would wires consumer expansion into well. send they

into So also plays strategically, omnichannel overall, strategy. the

Operator

will Grondahl from question coming Mike be next Securities. Our Northland of

Mike Grondahl

questions. A couple of

expansion and on in force. of that from sales kind inside First new recent that going that to growth is outside the off, How internal the investment. plan, just force productivity compared sales you're getting and

Marcelo Theodoro

do the sales first. ramp things These let and start inside up, time to me take some with

team So sales, supporting that with had typically exclusively a locations. we XX the store primarily was our that with were sales around we did inside same outside efforts, people almost

store by are the cost able invest reach people team the in Miami, we in here to So that guys wires offshore the And same-store bilingual related tripled they of to them same compete decided everything an as just going in whatever to the that over and was were way, calling particularly we weekends we we might to in or is XX competitors, the of people be against smoothly making we have drive sure many because many we investment could our and triple if our it our possible. Guatemala. with a were needed very as the as make add as adjustment as What pricing incremental small reach.

people geographies calls after countries, we're people, wires. of direct to XX those where able in where were going at real more talk Friday is where and we're now to time, to which now we're if agents able So to afternoon, to our to where on we what look are to go we're to going a and the related close are team what opportunities struggling, or make

fully decision sort terms to a team the of great. late up, in made ramped and period time the really really of XXXX. needs only in working We personnel had invest last still to that of we're early spots year. in ramp that's So We There's kind period. the right in a up only in ramp-up

our competitors how activity. those with war marshal. and where the a And of we're are So don't sitting in we're sort able to in resources really with that the rumor efforts direct on becomes the same you look the we're a of real early at choose where on but opportunities or don't pleased to if program, Friday, room, will, marshal most

way in We need looking that's of that bonds, markets there in We're KPI, on out relative outside We've huge people bond foreign X per that retailers we we've retailer, in we the Illinois, piece, bonds relative creative where have, instance, divided more foreign at we're people reps. only the right also that certain metric a the past we Chicago, are putting the per know -- in number opportunities. foreign had in a the to wires use to sales opportunities. markets. Now putting like, for in territories

So we're in areas down of early than in on. do doing agent putting more That's very other that person retailers. We're the country. Chicago would a that roving nothing at

Some are being positions, feel filled, of as still many a and we're as of positions of matter feel to in the really it. that we of year fact, the But process on. goes all of impact those going good those about

we I of leader from us to way much usually in the I we've Latin took Intermex quickly into I one's has small be effort. back sales grown American those a the very as it and something back as we're and think the as expect as our being results ever think no had, We've days and the been half well business the that and taken that that of to Intermex market, impactful what was recalibrated regional to a success year. player gone or the with unique second we a proven the to move

Mike Grondahl

you year, that XXXX industry U.S. the is that guidance? Mexico, of embedded still to in assumed the X.X% 'XX like earlier said then kind guidance growth in your And X.X%

Andras Bende

little I it's bit. for would We to that. bumped say it down close still a now,

to a the softness We related of do more some great in do to in was lot on before. Fortunately, had from up up say remedied. to we coming uplift think an get But year, execution the what earnings second we're half able through to near some we're and that make grow-over we we of perspective, EPS. have terms communicated we've EBITDA we it's job a going I'd think so done able to costs, get that be have that you've

good got still we've think shot we deliver. So a to

Mike Grondahl

addition don't I the growth at number? Do and then, X, an we've Got break Lonationale have reported organic the the number core it. acquisition the you organic X know, or last of you growth in with number guys quarters, And did transfers, you gotten to Andras, revenue X.X%. a eye out

Andras Bende

Yes.

we've them those breakout the I long separate moving we're away the from enough, units. think since in of had portfolio

Mike Grondahl

lastly, maybe how and comments month guys, April on went. then that And Okay. any

Robert Lisy

market say related think it's -- not the most which saw we line the for numbers more I February, growth obviously But for February it a that for expect resurgence we we a from us. take departed because resurgence really fact numbers, to particularly we absolutely perspective of have our they've X%, bit because as that and I encouraging the are gone a declare fundamentals But move could was a we little ourselves, in the -- everything we're way minus of we're tide. from because, kind was transactional early as weigh is victory a year-over-year turn the too seeing into for we think in way to into solidly March positive than to that or been, haven't I trend time. plus way the If we've continuing some back we to that will a if April. It's market more we declare significantly in years, a said, of into X%. a even fine

early that. encouraged, out And what's the 'XX didn't clear want in or the to Andras what's to never to to also very through all. I market. is the as we're just has clearly are watch XXXX happening it's I and be few upon But a reflect that kind again, about of And to it, acquisition but we apply way new consumer business the a that well the here adjustments results working, in I different retail we more of and grow grow And that's little So we're go more of way we no unique back see of months declare that marketplace. a in that company a in through come and dependent retailers built been us before been encouraged. the in we've laid not that that a going but than for we're very trend absolutely the faster we see this of immune indicative But exclusively we when at our today the was you at terms much and think one XXXX our still we market is. market, that that believe know with can April line this company that to people the very bit numbers that. need and lot for

Operator

And be BMO. from Hone our of next Rufus coming will question

Rufus Hone

in gave you profit percentage are gross percentage are on branded? Just of per of Intermex XX what unbranded. could coming digital sort back And transaction Any what transactions frame the Slide the way to on digital. those you detail

transaction. Just sense profit digital the of per gross a trying to get blended

Andras Bende

branded Intermex of XX% to total. transactions much the XX% pretty

different other combination is have. The that of we $XX a partners million

Robert Lisy

unbranded, with to They I that, We -- to sure the by the partner we that XX%. way, want data. have on say still make us correct the require And all are you those. I co-branded. the is want are just don't when but that. exclusively co-branding branded They

Rufus Hone

And I do profit transaction you gives up guess you confidence think over about you time? can what keep per driving that gross that trajectory?

Robert Lisy

an think driving really XX-XX meaning that reflective that margin make now a is we the to leveraging is and We want margin more which XX% today, strong America isn't wires. key and sure marketplace, of to we really move the of gross I more It's retail we're believe number want digital, Latin to what gross XX% up. the drive there. of like that

growth. give I where of we was higher leverages or margin key margin. healthy margin create this out and want there to usage very is we back and that repeat the the sacrifice we can to as programs, gross Now to place how the create we first decide from how stake spoke earlier, don't start drive high to move gross But gross even then was

quarter the higher place get you it's drive that a will a more I we're drive rate try growth healthy think or with position much from margin in margin. $X.XX to be a I that will that So to trying $X a to gross see now see even go. you'll a think don't us about X very us the business overall

Operator

for no at the Bob showing would I'm time. remarks. to to further this closing I now like turn And back call questions

Robert Lisy

and Thank you great joining to talking day. soon, We have all a to us. look for you forward

Operator

Thank participating. you. you Thank for today's This concludes conference call.

disconnect. now may You

International Money Express (IMXI) 8 May 242024 Q1 Earnings call transcript