Company: IMXI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051013
Chunk: 24

Company: International Money Express, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 24
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 credit losses, consists of the following (in thousands):September 30, 2025December 31, 2024Accounts receivable$124,902 $110,623 Allowance for credit losses(5,684)(3,546)Accounts receivable, net$119,218 $107,077 Agent Advances ReceivableAgent advances receivable, net of allowance for credit losses, from sending agents is as follows (in thousands):September 30, 2025December 31, 2024Agent advances receivable, current$2,132 $2,260 Allowance for credit losses(211)(173)Net current$1,921 $2,087 Agent advances receivable, long-term$2,530 $2,315 Allowance for credit losses(190)(117)Net long-term$2,340 $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 September 30, 2025 and December 31, 2024, there were $4.7 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 September 30, 2025 are as follows (in thousands):Outstanding BalanceUnder 1 year$2,132 Between 1 and 2 years1,760 More than 2 years to 3 years770 Total$4,662 Allowance for Credit Losses

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The changes in the allowance for credit losses related to accounts receivable and agent advances receivable are as follows (in thousands):Three Months Ended September 30,Nine Months Ended September 30,2025202420252024Beginning balance$5,509 $3,910 $3,836 $2,794 Provision2,154 1,665 6,078 5,036 Charge-offs(1,811)(1,405)(4,905)(4,247)Recoveries229 224 701 904 Other4 16 375 (77)Ending Balance$6,085 $4,410 $6,085 $4,410