Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 108

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 108
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 the three months ended March 31, 2024, the Company purchased 1,124,476 shares for an aggregate purchase price of $23.4 million. As of March 31, 2025, there was $59.5 million available for future share repurchases under the Repurchase Program.

Privately-Negotiated Share Repurchase Transaction

On March 12, 2025, the Company entered into an agreement with Latin-American Investment Holdings Inc., a related party, for the purchase of 100,000 shares of the Company’s common stock for a total purchase price of $1.3 million, or a per share price of $13.30 (reflecting a discount of 2.6% from the last reported sale price as reported on the Nasdaq Stock Market of the Company’s Common Stock on March 10, 2025), in a privately-negotiated transaction.

Operating Leases

We are party to operating leases for office space, warehouses and Company-operated store locations and vehicles, which we use as part of our day-to-day operations. Operating lease expenses were $1.7 million and $1.8 million for the three months ended March 31, 2025 and 2024, respectively, which we expect to be consistent throughout the year. We have not entered into finance lease commitments. For additional information on operating lease obligations, refer to Note 7, Leases, to the Condensed Consolidated Financial Statements.

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Cash Flows

The following table summarizes the changes to our cash flows for the periods presented:

Three Months Ended March 31,(in thousands)20252024Statements of Cash Flows Data:Net cash provided by operating activities$41,282 $48,236 Net cash used in investing activities(5,313)(13,480)Net cash used in financing activities(15,145)(55,064)Effect of exchange rate changes on cash and cash equivalents437 (100)Net increase (decrease) in cash and cash equivalents21,261 (20,408)Cash and cash equivalents, beginning of period130,503 239,203 Cash and cash equivalents, end of period$151,764 $218,795 

Operating Activities

Net cash provided by operating activities was $41.3 million for the three months ended March 31, 2025, a decrease of $6.9 million from net cash provided by operating activities of $48.2 million for the three months ended March