$IMXI

International Money Express, Inc.

CIK:0001683695|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenues:
Total revenues	$ 131,162	$ 161,133	$ 253,114	$ 305,443
Operating expenses:
Service charges from agents and banks	85,848	102,257	164,939	196,045
Salaries and benefits	17,380	18,525	36,270	37,110
Other selling, general and administrative expenses	11,106	12,354	22,661	23,352
Provision for credit losses	2,585	1,858	5,476	3,924
Transaction costs	700	2,224	1,866	3,393
Depreciation and amortization	4,792	4,454	9,477	8,083
Total operating expenses	122,411	141,672	240,689	271,907
Operating income	8,751	19,461	12,425	33,536
Interest expense	2,320	3,093	4,528	5,793
Income before income taxes	6,431	16,368	7,897	27,743
Income tax provision	2,226	5,361	3,181	8,967
Net income	4,205	11,007	4,716	18,776
Other comprehensive income (loss)	49	1,236	(422)	1,584
Comprehensive income	$ 4,254	$ 12,243	$ 4,294	$ 20,360
Earnings per common share:
Basic (in dollars per share)	$ 0.14	$ 0.37	$ 0.16	$ 0.62
Diluted (in dollars per share)	$ 0.14	$ 0.37	$ 0.15	$ 0.62
Weighted-average common shares outstanding:
Basic (in shares)	30,109,812	29,843,687	29,989,347	30,213,762
Diluted (in shares)	30,608,806	29,912,615	30,500,809	30,370,069
Wire transfer and money order fees, net
Revenues:
Total revenues	$ 107,585	$ 132,970	$ 207,337	$ 253,137
Foreign exchange gain, net
Revenues:
Total revenues	16,652	23,681	32,972	43,862
Other income
Revenues:
Total revenues	$ 6,925	$ 4,482	$ 12,805	$ 8,444

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Cash flows from operating activities:
Net income	$ 4,716	$ 18,776
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	9,477	8,083
Share-based compensation	5,155	4,245
Provision for credit losses	5,476	3,924
Debt origination costs amortization	507	512
Deferred income tax benefit, net	(439)	(1,377)
Non-cash lease expense	3,557	3,493
Loss on disposal of property and equipment	639	507
Total adjustments	24,372	19,387
Changes in operating assets and liabilities:
Accounts receivable	221	(39,298)
Prepaid wires, net	43,385	27,229
Prepaid expenses and other assets	1,449	9
Wire transfers and money orders payable, net	(2,771)	57,504
Lease liabilities	(3,663)	(4,119)
Accounts payable and accrued and other liabilities	7,645	1,696
Net cash provided by operating activities	75,354	81,184
Cash flows from investing activities:
Purchases of property and equipment	(10,986)	(9,845)
Acquisition of agent locations	0	(188)
Net cash used in investing activities	(10,986)	(10,033)
Cash flows from financing activities:
Borrowings under revolving credit facility	3,866,000	4,035,000
Repayments under revolving credit facility	(3,947,000)	(4,047,486)
Payments for stock-based awards	(954)	(942)
Repurchases of common stock	0	(16,334)
Other financing activities	(11)	(5)
Net cash used in financing activities	(81,965)	(29,767)
Effect of exchange rate changes on cash and cash equivalents	(449)	2,836
Net (decrease) increase in cash and cash equivalents	(18,046)	44,220
Cash and cash equivalents, beginning of period	168,682	130,503
Cash and cash equivalents, end of period	150,636	174,723
Supplemental disclosure of cash flow information:
Cash paid for interest	4,032	5,284
Cash paid for income taxes	4,708	11,998
Supplemental disclosure of non-cash investing activities:
Lease liabilities arising from obtaining right-of-use assets	2,925	660
Settlement of receivables from agent acquisitions	0	1,634
Accrued liabilities related to agent acquisitions	$ 0	$ 493

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 150,636	$ 168,682
Accounts receivable, net of allowance of $5,103 and $5,530, respectively	99,744	105,369
Prepaid wires, net	16,130	59,497
Prepaid expenses and other current assets	19,227	19,611
Total current assets	285,737	353,159
Property and equipment, net	60,074	57,149
Goodwill	53,986	53,986
Intangible assets, net	23,353	25,404
Other assets	26,491	27,993
Total assets	449,641	517,691
Current liabilities:
Accounts payable	21,728	15,317
Wire transfers and money orders payable, net	85,007	87,540
Accrued and other liabilities	39,096	38,100
Total current liabilities	145,831	140,957
Long-term liabilities:
Debt, net	113,814	194,825
Lease liabilities, net	15,513	15,483
Deferred tax liability, net	4,933	5,372
Total long-term liabilities	134,260	215,680
Commitments and contingencies, see Note 17
Stockholders’ equity:
Preferred stock $0.0001 par value; 5,000,000 shares authorized, none issued or outstanding	0	0
Common stock $0.0001 par value; 200,000,000 shares authorized, 41,166,291 and 40,682,683 shares issued and 30,202,723 and 29,719,115 shares outstanding as of June 30, 2026 and December 31, 2025, respectively	4	4
Additional paid-in capital	92,037	87,835
Retained earnings	294,857	290,141
Accumulated other comprehensive (loss) income	(318)	104
Treasury stock, at cost; 10,963,568 shares as of both June 30, 2026 and December 31, 2025, respectively	(217,030)	(217,030)
Total stockholders’ equity	169,550	161,054
Total liabilities and stockholders’ equity	$ 449,641	$ 517,691