Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 160

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 2
Chunk 160
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 a higher average principal sent per transaction. Therefore, the lower number of wire transfers sent resulted in lower fees paid by consumers.

Revenues from foreign exchange gain, net of $23.7 million for the three months ended June 30, 2025 increased by $0.9 million, or 3.9%, from $22.8 million for the three months ended June 30, 2024. This increase was primarily due to an increase in the average principal sent per transaction as well as a strengthening of the U.S. dollar against the Mexican peso.

Other income of $4.5 million for the three months ended June 30, 2025 increased by $1.6 million, or 55.2%, from $2.9 million for the three months ended June 30, 2024 primarily due to the effect of higher fees related to increased activity of our remittance-as-a-service relationships, as well as higher revenues primarily as a result of an increase of the base fees charged on money transfers and money orders deemed abandoned property.

Operating Expenses

Operating expenses for the above periods are presented below:

($ in thousands)Three Months Ended June 30, 2025% ofRevenuesThree Months Ended June 30, 2024% ofRevenuesOperating expenses:Service charges from agents and banks$102,257 63 %$113,369 66 %Salaries and benefits18,525 12 %16,893 10 %Other selling, general and administrative expenses12,354 8 %10,481 6 %Provision for credit losses1,858 1 %1,776 1 %Restructuring costs— — %2,711 2 %Transaction costs2,224 1 %26 NMDepreciation and amortization4,454 3 %3,371 2 %Total operating expenses$141,672 88 %$148,627 87 %

NM - Amounts round to less than 1%.

Service charges from agents and banks — Service charges from agents and banks were $102.3 million for the three months ended June 30, 2025 compared to $113.4 million for the three months ended June 30, 2024. The decrease of $11.1 million, or 9.8%, was primarily due to the decrease in transaction volume described above, as well as lower payer fees as a result of better pricing