Company: IMXI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001683695-25-000030
Chunk: 125

Company: International Money Express, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 125
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 technology, market discount and royalty rates. These inputs are based on information not observable in the market and represent Level 3 measurements within the fair value hierarchy. 

F-19

Management believes it has made reasonable estimates and judgments concerning these risks and uncertainties. A change in the conditions, circumstances or strategy of the Company may result in a need to recognize an impairment charge. As a result of the annual impairment tests, the Company determined that goodwill was not impaired as of December 31, 2024 and 2023. The following table presents the changes in goodwill and intangible assets (in thousands):GoodwillIntangible AssetsBalance at December 31, 2021$36,260 $15,392 Acquisition of La Nacional13,514 8,450 Acquisition of agent locations— 225 Amortization expense— (4,241)Balance at December 31, 2022$49,774 $19,826 Measurement period adjustment(635)— Acquisition of LAN Holdings4,847 3,200 Amortization expense— (4,883)Balance at December 31, 2023$53,986 $18,143 Acquisition of Amigo Paisano brands— 12,000 Acquisition of entities1,209 — Acquisition of agent locations— 700 Amortization expense— (3,996)Balance at December 31, 2024$55,195 $26,847 Acquisition of Amigo Paisano brandsOn December 4, 2024, the Company completed the acquisition of the Amigo Paisano brands and trademarks (“Amigo Paisano”) from a Guatemala-based third-party company, primarily concentrated in the United States to Guatemala corridor. Amigo Paisano provides the Company the opportunity to enhance its digital channel offerings and strengthen its presence in Central America.The total consideration transferred by the Company in connection with the acquisition of Amigo Paisano was $12.0 million. The acquisition was funded with cash on hand. The allocation of the consideration transferred resulted in intangible assets that consisted of trade names of approximately $12.0 million, which will be amortized over an estimated useful life of 15 years. In addition, due to the timing of the acquisition of Amigo Paisano, the potential income tax consequences of this transaction have not been fully determined.Amortization expense related to intangible assets for the next five years and thereafter is as follows (in thousands