Company: IMXI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001683695-25-000030
Chunk: 79

Company: International Money Express, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 79
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 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 Operating expenses:Service charges from agents and banks428,968 430,865 364,804 Salaries and benefits68,247 70,203 52,224 Other selling, general and administrative expenses47,894 47,652 34,394 Restructuring costs3,060 1,214 — Transaction costs1,819 445 3,005 Depreciation and amortization13,645 12,866 9,470 Total operating expenses563,633 563,245 463,897 Operating income95,016 95,490 82,908 Interest expense11,745 10,426 5,629 Income before income taxes83,271 85,064 77,279 Income tax provision24,450 25,549 19,948 Net income$58,821 $59,515 $57,331 Earnings per common share:Basic$1.81 $1.67 $1.52 Diluted$1.79 $1.63 $1.48 

Year Ended December 31, 2024 Compared to the Year Ended December 31, 2023

Revenues

Revenues for the above periods are presented below:

Year Ended December 31,($ in thousands)2024% ofRevenues2023% ofRevenuesRevenues:Wire transfer and money order fees, net$554,801 84 %$561,540 86 %Foreign exchange gain, net88,944 14 %87,908 13 %Other income14,904 2 %9,287 1 %Total revenues$658,649 100 %$658,735 100 %

Wire transfer and money order fees, net of $554.8 million, for the year ended December 31, 2024 decreased by $6.7 million, or 1.2%, from $561.5 million for the year ended December 31, 2023. The decrease was primarily due to a decrease in transaction volume processed through our retail network of sending agents and Company