International Money Express Reports Record Revenue; Shares Pop By Investing.com
© Reuters By Sam Boughedda
Investing.com — On Monday, International Money Express Inc (NASDAQ:) posted its fourth-quarter and full-year results, which revealed a record number of transactions and record revenue, prompting its stock to rise 10.55%.
The Miami-based company delivered its best quarter with revenue coming in at $127.2 million, beating analysts’ forecasts of $121.85 million and increasing 28.1% compared to the prior-year period. At 40 cents, earnings per share also exceeded expectations of 28 cents a share.
The company’s record earnings came after an 11.7% increase in the number of agents and a 20.5% increase in active users. In addition, the number of digital clients also increased by 76.3%.
Full-year earnings further emphasized the company’s growth in revenue after a record year of $459.2 million for 2021. This represented an increase of 28.6% compared to 2020.
“Record results for the fourth quarter and the full year 2021 again reflected growth across all of our primary markets and our emerging geographies, as well as further advances in the digital sector, in which we believe Intermex has a significant and sustainable opportunity to gain market share,” said Bob Lisy, CEO and president.
The company expects to generate another year of double-digit revenue growth in 2022, increasing 17% to 19% to between $537 million and $546 million. Furthermore, net income is expected to be between $66 million and $67.5 million.
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