Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 20

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 20
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Accounts receivable, net$131,026 $107,077 Agent Advances ReceivableAgent advances receivable, net of allowance for credit losses, from sending agents is as follows (in thousands):March 31, 2025December 31, 2024Agent advances receivable, current$2,156 $2,260 Allowance for credit losses(212)(173)Net current$1,944 $2,087 Agent advances receivable, long-term$2,355 $2,315 Allowance for credit losses(125)(117)Net long-term$2,230 $2,198 The net current portion of agent advances receivable is included in prepaid expenses and other current assets (see Note 5), and the net long-term portion is included in other assets (see Note 5) in the condensed consolidated balance sheets. At March 31, 2025 and December 31, 2024, there were $4.5 million and $4.6 million, respectively, of agent advances receivable collateralized by personal guarantees from sending agents and assets from their businesses in case of a default by the agent.The maturities of agent advances receivable at March 31, 2025 are as follows (in thousands):Outstanding BalanceUnder 1 year$2,156 Between 1 and 2 years1,856 More than 2 years to 3 years499 Total$4,511 Allowance for Credit LossesThe changes in the allowance for credit losses related to accounts receivable and agent advances receivable are as follows (in thousands):Three Months Ended March 31,20252024Beginning balance$3,836 $2,794 Provision2,066 1,595 Charge-offs(1,757)(1,847)Recoveries170 458 Other117 (70)Ending Balance$4,432 $2,930 The allowance for credit losses allocated by financial instrument category is as follows (in thousands):

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March 31, 2025December 31, 2024Accounts receivable$4,095 $3,546 Agent advances receivable337 290 Allowance for credit losses$4,432 $3,836 

NOTE 5 – PREPAID EXPENSES AND OTHER ASSETS

Prepaid expenses and other current assets consisted of the following (in thousands):March 31, 2025December