What International Money Express, Inc. told the SEC could break it.

Intermex depends on a concentrated network of paying (payout) agents — a substantial portion are a few large banks/financial institutions and large retail chains, and its largest paying agent, Elektra, handled approximately 22% of total remittance volume in 2025 (25% in 2024), primarily on the U.S.-to-Mexico corridor; the loss of Elektra or another large paying agent (e.g., from regulation or bank failure) could have a material adverse impact on its ability to disburse remittances.

“Elektra, our largest paying agent by volume, accounted for approximately 22% of Intermex's total remittance volume in fiscal year 2025. The loss of Elektra as one of our paying agents could have a material adverse impact on our business and results of operations.”

Intermex derives a substantial portion of revenue from money-remittance transactions on the U.S.-to-LAC corridor, particularly Mexico, Guatemala, El Salvador, Honduras and the Dominican Republic, exposing it to political, economic and social instability, foreign-currency restrictions and volatility, and tariffs or restrictions on remittances/transfers in those countries; disruptions in any key corridor would materially affect transaction volume and earnings.

“We derive a substantial portion of our revenue from our money remittance transactions from the United States to the LAC corridor, particularly Mexico, Guatemala, El Salvador, Honduras and the Dominican Republic, and we are exposed to certain political, economic and other uncertainties not encountered in U.S. operations.”

Intermex is subject to a pending acquisition by Western Union, with completion dependent on obtaining regulatory (including antitrust) approvals and other closing conditions; the deal may not close on anticipated terms/timing or at all, a termination could require fees (Western Union owes a $27.3M fee if terminated due to antitrust restraints/clearance failures), and the pendency already led the company to suspend its share-repurchase program in June 2025, creating transaction and operating-restriction risk.

“the contemplated pending acquisition of the Company by Western Union, including: the completion of the pending transaction on anticipated terms and timing or at all, including obtaining regulatory approvals and other conditions to the completion of the transaction”

Money-remittance businesses are subject to strict legal and regulatory requirements (money-transmitter licensing, BSA/AML, GLBA privacy), and Intermex's volumes are highly sensitive to U.S. immigration, tariff and trade policy: changes in those policies can have positive or negative effects, and reduced or disrupted international migration would likely reduce remittance transactions, while tariff-driven FX moves could affect both demand and foreign-exchange earnings.

“changes to U.S. immigration, tariffs, trade, economic and other policies may have both positive and negative effects on our business, none of which can be predicted with any degree of certainty. Money remittance businesses have continued to be subject to strict legal and regulatory requirements”