Intermex postpones product assessment, focusing on digital expansion by 2025
In a significant move, global cross-border payments provider Intermex has announced a new newsletter offering extensive research and analysis on the industry, with a focus on digital market expansion. This comes after the company's decision to suspend potential sale or merger discussions, signalling a shift in strategic focus.
At its annual meeting in June 2025, Intermex shareholders approved an amended and restated omnibus equity compensation plan. This plan increases the share pool by 2.52 million shares and raises the cap on director compensation to $750,000 annually, extending through 2035. The plan includes provisions for share recycling, providing the company with flexibility to issue equity awards to attract and retain talent, a critical factor in competitive sectors like digital payments.
This move reflects shareholder support for management’s strategy to enhance compensation flexibility, signalling an emphasis on building leadership and employee commitment during a period of transition. While there is no detailed public statement about new digital market products or platforms, the increased equity incentive capacity suggests that Intermex is positioning itself to invest in growth areas such as digital money transfer and fintech services.
Despite a -0.8% decline in Intermex's annual principal sent, amounting to $24.4 billion, the company reported a 1% increase in its adjusted EBITDA, reaching $121.3 million in FY 2024. The company's revenue remained steady at $658.6 million during the same period.
Intermex has also announced plans to double down on capturing digital customers through aggressive expansion in 2025. Retail (cash-based remittances) remains crucial for Intermex's business growth, and the company will continue to invest in staff and marketing in the coming year.
Investors, however, have reacted negatively to Intermex's stifled growth, causing a significant drop in the company's share price. The newsletter, associated with a LinkedIn account represented by the user name "Joe Baker", includes an industry-leading newsletter and is available for free with the creation of a new account.
Intermex recently held an Investor Day event, its first since March 2022, where it shared its growth plans and strategic initiatives. The company mentioned last year that it was assessing potential sale or merger opportunities but has not received an offer that provides a "superior alternative" to its current business model and strategic plan.
Access to the newsletter is free with the creation of a new account, which includes a password reset option. The newsletter content is not specified in the provided paragraph. Intermex continues to navigate the complex landscape of global cross-border payments, with a renewed focus on digital expansion and talent retention.
- In light of its focus on digital market expansion, Intermex has initiated a move to boost its internal talent with an increased equity compensation, signaling a shift towards long-term business growth, particularly in digital money transfer and fintech services.
- As part of its digital customer capture strategy, Intermex plans to invest in staff and marketing, aiming to double down on retail services and broaden its reach in the digital sector, thereby emphasizing its commitment to the finance and investing world.
