Company: IMXI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001683695-25-000030
Chunk: 141

Company: International Money Express, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 141
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2023, the Company did not have any amounts accrued for interest and penalties or recorded for uncertain tax positions.After consideration of all evidence, both positive and negative, management has determined that no valuation allowance is required at December 31, 2024 or 2023 on the Company’s U.S. deferred tax assets. However, a valuation allowance of $6.5 million and $5.8 million as of December 31, 2024 and 2023, respectively, has been recorded on deferred tax assets associated with foreign net operating loss carryforwards. The valuation allowance increased by $0.7 million and $5.4 million during the years ended December 31, 2024 and 2023, respectively.

NOTE 18 – SEGMENT REPORTING

The Company is a leading omnichannel money remittance services company focused primarily on the U.S. to LAC corridor, which includes Mexico, Central and South America and the Caribbean. We also provide our remittances services to Africa and Asia from the United States and offer sending services from Canada to Latin America and Africa as well as remittance services from Spain, Italy, the United Kingdom and Germany to Africa, Asia, Europe and Latin America. The Company has identified one operating and reportable 

F-30

segment. The Company defines its segment on the basis of the way in which internally reported financial information is regularly reviewed by the Company’s chief operating decision maker (the “CODM”) to analyze financial performance, make decisions, and allocate resources. The Company’s CODM is Robert Lisy, Chairman, Chief Executive Officer and President. The CODM uses the Company’s consolidated financial results as a basis for making key operating decisions. Examples of key operating decisions include entering new markets, stock repurchases, and managing liquidity.  The CODM considers Net Income as one of the relevant metrics in his decision making process. The table below provides information about the Company's measure of segment performance and significant expense categories:Year Ended December 31,202420232022Revenues: Wire transfer and money order fees, net$554,801 $561,540 $469,162 Foreign exchange gain, net88,944 87,908 72,920 Other income14,904 9,287 4,723 Total revenues658,649 658,735 546,805 Less:Agent commissions281,157 284,157 241,471 Payer commissions108,697 110,865 93