Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 121

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 8
Chunk 121
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.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 negotiated with paying agents.

Salaries and benefits — Salaries and benefits of $18.5 million for the three months ended June 30, 2025 increased by $1.6 million, or 9.5%, from $16.9 million for the three months ended June 30, 2024. The increase is primarily due to the Company's investment in talent acquisition and improved compensation for our sales force and digital channel services, as well as severance payments.

Other selling, general and administrative expenses — Other selling, general and administrative expenses of $12.4 million for the three months ended June 30, 2025 increased by $1.9 million, or 18.1%, from