Company: IMXI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051013
Chunk: 126

Company: International Money Express, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 126
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 in Net Income discussed above, offset by the higher net effect of the adjusting items detailed in the table below.

The following table presents the reconciliation of Net Income, our closest GAAP measure, to Adjusted EBITDA:

Three Months Ended September 30,(in thousands)20252024Net Income$4,963 $17,297 Adjusted for:Interest expense2,981 3,200 Income tax provision2,591 7,328 Depreciation and amortization4,410 3,382 EBITDA14,945 31,207 Share-based compensation (a)2,759 2,312 Restructuring costs (b)— 27 Transaction costs (c)5,353 50 Other charges and expenses (d)740 276 Adjusted EBITDA$23,797 $33,872 

(a)Represents share-based compensation relating to equity awards granted primarily to employees and independent directors of the Company.

(b)Represents primarily severance related to the execution of restructuring plans.

(c)Represents primarily financial advisory, professional and legal fees related to evaluation of strategic alternatives, including the pending  Merger with Western Union and business acquisition transactions.

(d)Represents primarily loss on disposal of fixed assets.

39

Nine Months Ended September 30, 2025 Compared to Nine Months Ended September 30, 2024

Revenues

Revenues for the above periods are presented below:

($ in thousands)Nine Months Ended September 30, 2025% ofRevenuesNine Months Ended September 30, 2024% ofRevenuesRevenues:Wire transfer and money order fees, net$380,932 83 %$417,358 84 %Foreign exchange gain, net66,140 14 %67,100 14 %Other income13,292 3 %9,432 2 %Total revenues$460,364 100 %$493,890 100 %

Wire transfer and money order fees, net of $380.9 million for the nine months ended September 30, 2025 decreased by $36.5 million, or 8.7%, from $417.4 million for the nine months ended September 30, 2024. The decrease was primarily due to a decrease in transaction volume processed through our retail network of sending agents and Company-operated stores in the nine months ended September 30, 2025 compared to the nine months