Company: IMXI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001683695-25-000030
Chunk: 102

Company: International Money Express, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 102
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 to address this critical audit matter included: 

•Involving IT auditors in the performance of the following procedures:

◦Identifying the relevant systems used to calculate, transmit and record revenue from wire transfer fees and net foreign exchange gain.

◦Testing the IT general controls over the relevant systems, including testing user access controls, change management controls, and IT operations controls. 

◦Testing the relevant automated application controls, including system interfaces.

•Performing substantive analytical procedures over revenue from wire transfer fees and net foreign exchange gain, including testing the underlying information from the IT systems.

•Testing a sample of individual wire transfer fee revenue transactions by comparing amounts recognized by the Company to relevant contracts and related transaction support.

 /s/ BDO USA, P.C.

We have served as the Company's auditor since 2017.

Miami, Florida

February 27, 2025

F-2

INTERNATIONAL MONEY EXPRESS, INC.CONSOLIDATED BALANCE SHEETS(in thousands, except for share data)

December 31, 20242023ASSETSCurrent assets:Cash and cash equivalents$130,503 $239,203 Accounts receivable, net of allowance of $3,546 and $2,610, respectively107,077 155,237 Prepaid wires, net49,205 28,366 Prepaid expenses and other current assets10,998 10,068 Total current assets297,783 432,874 Property and equipment, net50,354 31,656 Goodwill55,195 53,986 Intangible assets, net26,847 18,143 Other assets32,198 40,153 Total assets$462,377 $576,812 LIABILITIES AND STOCKHOLDERS’ EQUITYCurrent liabilities:Current portion of long-term debt, net$— $7,163 Accounts payable19,520 36,507 Wire transfers and money orders payable, net85,044 125,042 Accrued and other liabilities47,434 54,661 Total current liabilities151,998 223,373 Long-term liabilities:Debt, net156,623 181,073 Lease liabilities, net18,582 22,670 Deferred tax liability, net250 659 Total long-term liabilities175,455 204,402 Commitments and contingencies, see Note 19Stockholders’ equity:Preferred stock $0.0001 par