Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 86

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 86
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 remittances services to Africa and Asia from the United States and offer sending services from Canada to Latin America and Africa, as well as remittance services from Spain, Italy, the United Kingdom and Germany to Africa, Asia, Europe and Latin America. The Company has identified one operating and reportable segment. The Company defines its segment on the basis of the way in which internally reported financial information is regularly reviewed by the Company’s chief operating decision maker (the “CODM”) to analyze financial performance, make decisions, and allocate resources. The Company’s CODM is Robert Lisy, Chairman, Chief Executive Officer and President. The CODM uses the Company’s consolidated financial results as a basis for making key operating decisions. Examples of key operating decisions include entering new markets, stock repurchases, and managing liquidity.  The CODM considers Net Income as one of the relevant metrics in his decision making process. The table below provides information about the Company's measure of segment performance and significant expense categories:

23

Three Months EndedMarch 31,20252024Revenues: Wire transfer and money order fees, net$120,167 $126,921 Foreign exchange gain, net20,181 20,346 Other income3,962 3,145 Total revenues144,310 150,412 Less:Agent commissions61,163 64,137 Payer commissions23,811 25,116 Bank charges and fees6,594 6,014 Salaries and benefits18,288 18,106 Other segment items (1)13,209 12,620 Provision for credit losses2,066 1,595 Restructuring costs306 — Transaction costs1,169 10 Depreciation and amortization3,629 3,228 Total operating expenses130,235 130,826 Operating income14,075 19,586 Interest expense2,700 2,702 Income before income taxes11,375 16,884 Income tax provision3,606 4,778 Net income$7,769 $12,106 (1) Other segment items included in segment net income is primarily composed of other selling, general and administrative expenses, transaction processing costs, and other overhead expenses.

NOTE 17 – COMMITMENTS AND CONTINGENCIES

Contingencies and Legal ProceedingsThe Company is subject to legal proceedings and claims that have arisen in the ordinary course of its business and have not been finally adjudicated. Although