Earnings

Intermex Reports 12.6% Drop in Principal Sent for First Nine Months of 2026

The Tip Desk · November 12, 2026 · 3 min read

Principal sent fell 12.6% to $15.7 billion in the nine months to September 30 as the agent network shrank 9.3%.

International Money Express (IMXI), the omnichannel money-remittance company focused on the United States to Latin America and the Caribbean corridor, said principal amount sent declined about 12.6% to $15.7 billion for the nine months ended September 30, 2026, compared with the same period in 2025, and that total remittances processed fell about 12.8% to approximately 35.4 million. The company attributed the decline primarily to a contraction in the retail remittance market, particularly the LAC corridor, and said the overall decrease was partially offset by increased volume from digital channels.

The agent network decreased about 9.3% for the nine months ended September 30, 2026, versus a 5.5% decrease for the six months ended June 30, 2026, and a slight 0.6% decrease for the three months ended March 31, 2026. The company said the decline was primarily the result of fewer agents onboarded relative to ordinary-course terminations.

Company-operated stores stood at 115 as of the September 30, 2026 disclosure, up from 114 in the June 30 and March 31, 2026 reports. Services remain available through more than 100,000 independent sending and paying agents, the company-operated stores, websites, co-branded partner sites and mobile applications.

The Western Union merger is now on a compressed regulatory clock. The original HSR waiting period expired October 6, 2025, and clearance was effective only for one year. Because that period lapsed, the company and Western Union each filed new Premerger Notification and Report Forms on October 2, 2026. The new 30-day waiting period expired November 2, 2026. Stockholders approved the deal at a special meeting on December 9, 2025. The Merger Agreement still provides $16.00 a share in cash and contains termination rights for either party if the transaction is not completed by November 10, 2026. Remaining closing conditions include a remaining regulatory approval, money-transmitter-license clearances and the absence of a restraint.

During 2026 the company executed a restructuring plan related to certain U.S. and foreign subsidiaries, aimed at reorganizing the workforce, streamlining operational processes and developing efficiencies. For the nine months ended September 30, 2026 it incurred about $0.9 million of expenses for a workforce reduction, primarily severance and related benefits, and paid out all of those charges, leaving no liability on the balance sheet at September 30, 2026. The company said it expects the plan to reduce compensation expense by about $3.0 million a year, with the anticipated effect primarily in the fourth quarter of 2026 and fiscal 2027, and that it does not expect a material reduction in revenues or an increase in ongoing operating expenses.

The company said it continues to expect to invest in digital penetration, digital customers and digital revenues in 2026 while maintaining retail offerings, and that those investments are likely to adversely affect results of operations in the shorter term. It also said current political, social, economic and market conditions in the United States, including recent economic, trade and immigration-enforcement actions, remain volatile, and that continued enhanced immigration enforcement, prolonged market volatility, global economic and geopolitical uncertainty, and long-term sustained appreciation of the Mexican peso or Guatemalan quetzal versus the U.S. dollar could negatively affect revenues and profitability.

The effective interest rate on the revolving credit facility was 2.05% for the nine months ended September 30, 2026. Unrecognized share-based compensation expense related to RSUs, RSAs and PSUs was about $17.2 million, expected to be recognized over a weighted-average 1.7 years.

The company said it does not expect the 2026 restructuring to result in any material reduction of revenues or increase of ongoing operating expenses.