International Money Express, Inc. (NASDAQ:IMXI) Q1 2024 Earnings Conference Call May 8, 2024 9:00 AM ET
Company Participants
Alex Sadowski – Investor Relations Coordinator
Bob Lisy – Chairman, Chief Executive Officer and President
Andras Bende – Chief Financial Officer
Chris Hunt – Chief Operating Officer
Conference Call Participants
Gus Gala – Monness, Crespi, Hardt and Company
Alex Markgraff – KBCM
Mike Grondahl – Northland Securities
Rufus Hone – BMO
Operator
Good day and thank you for standing by. Welcome to the International Money Express, Inc. First Quarter 2024 Earnings Conference Call. At this time all participants are in a listen-only mode. After speakers’ presentation, there will be a question-and-answer session. [Operator 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. Please go ahead.
Alex Sadowski
Good morning, and welcome to the Intermex first quarter 2024 earnings call. I would like to remind everyone that today’s call includes forward-looking statements, including our 2024 guidance, and actual results may differ materially from expectations. For additional information on International Money Express, which we refer to as Intermex or the Company, please see our SEC filings, including the risk factors described therein. All forward-looking statements on this call are based on assumptions and beliefs as of today. You should not rely on our forward-looking statements as predictions of future events. Please refer to Slide 2 of our presentation for a description of certain forward-looking statements. The company undertakes no obligation to update such information except as required by applicable law.
On this conference call, we discuss certain non-GAAP financial measures. Information required by Regulation G under the Securities and Exchange Act for such non-GAAP financial measures is included in the presentation slide, our earnings press release, and our annual report on Form 10-K, and quarterly reports on Form 10-Q including reconciliation of certain non-GAAP financial measures to the appropriate GAAP measures. These can be obtained in the Investors section of our website at intermexonline.com. Presenting on today’s call is our Chairman, Chief Executive Officer and President, Bob Lisy; and Chief Financial Officer, Andras Bende; as well as other members of the senior leadership team.
Let me now turn the call over to Bob.
Bob Lisy
Good morning shareholders, analysts, partners and media representatives. Thank you for joining us today. It’s our pleasure to report that International Money Express has not only delivered a strong start to 2024, but has also achieved record breaking performance, the company’s revenue of $150.4 million and adjusted EBITDA of $25.4 million, our first quarter milestones. EPS and adjusted EPS have surged to new first quarter records of $0.35 and $0.43 respectively surpassing market expectations and demonstrating our exceptional operational efficiency. Despite slower than expected market growth, particularly in Mexico, we definitely navigated some top line headwinds to deliver exceptional results and double digit earnings growth.