Company: IMXI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001683695-25-000030
Chunk: 140

Company: International Money Express, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 140
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 for the expected tax consequences of temporary differences between the book and tax bases of the Company’s assets and liabilities. The following table outlines the principal components of the deferred tax assets and liabilities (in thousands):December 31,20242023Deferred tax assets:U.S. federal and state net operating losses$2,809 $3,194 Foreign net operating losses7,132 6,452 Allowance for credit losses1,131 787 Share-based compensation1,280 1,673 Accrued compensation642 851 Deferred revenue848 1,447 Lease liabilities6,793 6,470 Other1,482 1,222 Total deferred tax assets22,117 22,096 Valuation allowance(6,537)(5,791)Total deferred tax assets, net of valuation allowance15,580 16,305 Deferred tax liabilitiesDepreciation(3,542)(3,065)Right-of-use assets(4,967)(5,391)Intangible amortization(7,321)(8,284)Debt origination costs— (224)Total deferred tax liabilities(15,830)(16,964)Net deferred tax liability$(250)$(659)At December 31, 2024, the Company had pre-tax federal, state and foreign net operating loss carryforwards of approximately $12.3 million, $6.8 million and $32.2 million, respectively, which are available to reduce future taxable income. With certain exceptions, these net operating loss carryforwards will expire from 2030 through 2037 for federal losses, from 2028 through 2038 for state losses, and from 2038 through 2044 for foreign losses. In addition, $28.0 million of the foreign net operating loss carryforwards in our European jurisdictions carryforward indefinitely. Utilization of the Company’s net operating loss carryforwards is subject to an annual limitation under Internal Revenue Code Section 382. The Company has recorded a deferred tax asset for only the portion of its net operating loss carryforward that it expects to realize before expiration. With few exceptions, the Company is no longer subject to U.S. federal, state or local income tax examinations by tax authorities for the years prior to 2021. However, the Company has certain net operating loss carryforwards from tax years 2010 through 2017 that are subject to examination. As of December 31, 2024 and