Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 87

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 8
Chunk 87
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528)(25)Ending balance$69 $— $69 $— The following table presents the changes in our liability balance related to restructuring costs for the three and six months ended June 30, 2024 (in thousands):Three Months Ended June 30, 2024Six Months Ended June 30, 2024Severance costsLegal and professional feesSeverance costsLegal and professional feesBeginning balance$— $— $— $— Charges incurred1,664 376 1,664 376 Payments(703)(10)(703)(10)Ending balance$961 $366 $961 $366 Transaction CostsTransaction costs include all internal and external costs directly related to acquisition activities and the Company's evaluation of strategic alternatives, consisting primarily of legal, consulting, accounting and financial advisory fees. Transaction costs were $2.2 million and $26.0 thousand for the three months ended June 30, 2025 and 2024, respectively, and $3.4 million and $36.0 thousand for the six months ended June 30, 2025 and 2024, respectively.

NOTE 3 – REVENUES

The Company recognized revenues from contracts with customers, sending agents and others for the three and six months ended June 30, 2025 and 2024, as follows (in thousands):Three Months Ended June 30,Six Months Ended June 30,2025202420252024Wire transfer and money order fees$133,608 $146,557 $254,497 $274,041 Discounts and promotions(638)(720)(1,360)(1,283)Wire transfer and money order fees, net132,970 145,837 253,137 272,758 Foreign exchange gain, net23,681 22,800 43,862 43,146 Other income4,482 2,894 8,444 6,039 Total revenues$161,133 $171,531 $305,443 $321,943 There are no significant initial costs incurred to obtain contracts with customers. Until January 31, 2025, the Company had a loyalty program under which customers earned one point for each wire transfer completed. Points are redeemed for a discounted wire transaction fee or a foreign exchange rate that is more favorable to the customer. Because the loyalty program benefits represent a future performance obligation, a portion of the initial