Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 22

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 22
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 Intermex, La Nacional, Amigo Paisano and I-Transfer names, branded on all applicable agent locations and well recognized in the market; and developed technology includes the state-of-the-art system that the Company has continued to develop and improve over the past 20 years. Other intangible assets relate to the acquisition of Company-operated stores, which are amortized on a straight line basis over 10 years, and non-competition agreements, which are amortized over the length of the agreement, typically 5 years. The determination of our intangible fair values includes several assumptions that are subject to various risks and uncertainties. Management believes it has made reasonable estimates and judgments concerning these risks and uncertainties, and no impairment charges were determined necessary to be recognized during the three months ended March 31, 2025.

13

The following table presents the changes in goodwill and intangible assets (in thousands):GoodwillIntangiblesBalance at December 31, 2024$55,195 $26,847 Acquisition of agent locations— 38 Amortization expense— (827)Balance at March 31, 2025$55,195 $26,058 Amortization expense related to intangible assets for the remainder of 2025 and thereafter is as follows (in thousands):2025$3,645 20263,753 20273,178 20282,696 20292,305 Thereafter10,481 $26,058 

NOTE 7 – LEASES

To conduct certain of our operations, the Company is a party to leases for office space, warehouses and Company-operated store locations and vehicles. The presentation of right-of-use assets and lease liabilities in the condensed consolidated balance sheets is as follows (in thousands):LeasesClassificationMarch 31, 2025December 31, 2024AssetsRight-of-use assetsOther assets(1)$17,677 $18,511 Total leased assets$17,677 $18,511 LiabilitiesCurrentOperatingAccrued and other liabilities$6,392 $6,468 NoncurrentOperatingLease liabilities17,493 18,582 Total Lease liabilities$23,885 $25,050 (1) Operating right-of-use assets are recorded net of accumulated amortization of $14.0 million and $14.5 million as of March 31, 2025 and December 31, 2024, respectively.Operating