Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 178

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 2
Chunk 178
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 well as prefunding of payers primarily for weekends. This was partially offset by a $7.3 million decrease in net income.

Investing Activities

Net cash used in investing activities was $10.0 million for the six months ended June 30, 2025, representing a decrease of $10.2 million from net cash used in investing activities of $20.2 million for the six months ended June 30, 2024. This decrease in cash used was primarily due to the capitalization of leasehold improvements, furniture and equipment related to the Company's move to the new U.S. headquarters during the six months ended June 30, 2024 in an amount of $9.9 million, which did not recur during the six months ended June 30, 2025.

Financing Activities

Net cash used in financing activities was $29.8 million for the six months ended June 30, 2025, which primarily consisted of $12.5 million of net repayments under the revolving credit facility, $16.3 million used for repurchases of common stock and $0.9 million of payments for stock-based awards for shares withheld for tax payments in connection with share-based compensation arrangements.

Net cash provided by financing activities was $14.1 million for the six months ended June 30, 2024, which primarily consisted of $26.0 million of net borrowings from the revolving credit facility, $3.3 million in scheduled quarterly payments due on the term loan facility, $34.6 million used for repurchases of common stock and $2.2 million of payments for stock-based awards for shares withheld for tax payments in connection with share-based compensation arrangements.

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Critical Accounting Estimates

The preparation of financial statements in accordance with accounting principles generally accepted in the United States requires management to make estimates and assumptions about future events that affect amounts reported in our condensed consolidated financial statements and related notes, as well as the related disclosure of contingent assets and liabilities at the date of the financial statements. Management evaluates its accounting policies, estimates and judgments on an on-going basis. Management bases its estimates and judgments on historical experience and various other factors that are believed to be reasonable under the circumstances. Actual results may differ from these estimates under different assumptions and conditions.

An accounting policy is considered to be critical if it requires an accounting estimate to be made based on assumptions about matters that are highly uncertain at the time the estimate is made, and if different estimates that reasonably could have been used