Intermex's retail emphasis discussed by Bob Lisy in Q1 2022 financial outcomes
Intermex, a leading remittances provider focusing on Latin America, has announced significant growth and expansion plans following a successful Q1 2022. The company reported a 21.2% Year-over-Year (YoY) increase in revenue to $114.7 million, with a 23% YoY growth in adjusted EBITDA, reaching $20.7 million.
One of the key growth drivers for Q1 2022 was a 28.5% increase in transactions across emerging markets. This growth was further boosted by the rollout of Intermex's new mobile app, which led to a 104.6% YoY increase in digital marketing transactions.
Intermex has set its sights on further expansion, with the recent acquisition of La Nacional being a significant step in this direction. This move is expected to provide access to more corridors in Europe, including Germany, France, and the United Kingdom.
Despite the growth in digital marketing transactions, Intermex continues to prioritize retail as a key part of its growth strategy. The company is differentiated from competitors by its continued focus on retail transfers, while many competitors are increasingly prioritizing digital marketing transfers.
In an interview conducted by Daniel Webber, Intermex CEO Bob Lisy discussed the key growth drivers for Q1 and plans moving forward. Lisy emphasised the importance of retail customers in the industry, as demonstrated by Intermex's continued focus on this segment.
Intermex has expanded its market share in core countries, including Mexico, Guatemala, Honduras, and El Salvador, to 21.4%. The company is facing competition from cross-border challengers, but Lisy highlighted Intermex's unique position in the market, focusing on retail transfers.
For those interested in comprehensive research and analysis on cross-border payments globally, including the industry-leading newsletter, creating a free account is recommended. With Intermex's continued growth and expansion, it is an exciting time to keep a close eye on this innovative remittances provider.
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