Company: IMXI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051013
Chunk: 67

Company: International Money Express, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 67
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2025, which represents a decrease of $6.3 million from an income tax provision of $17.9 million for the nine months ended September 30, 2024. The decrease in income tax provision was mainly attributable to a decrease in income before taxes primarily due to the factors discussed above. 

Net Income

We reported Net Income of $23.7 million for the nine months ended September 30, 2025 compared to Net Income of $43.4 million for the nine months ended September 30, 2024, which resulted in a decrease of $19.7 million, or 45.4%, due to the same factors discussed above. 

Earnings Per Share

Earnings per Share - Basic for the nine months ended September 30, 2025 was $0.79, representing a decrease of $0.53, or 40.2%, compared to $1.32 for the nine months ended September 30, 2024.

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Earnings per Share - Diluted for the nine months ended September 30, 2025 was $0.79, representing a decrease of $0.51, or 39.2%, compared to $1.30 for the nine months ended September 30, 2024.

The decrease in both basic and diluted EPS largely reflects the decrease in net income discussed above, offset by a reduced share count as a result of the stock repurchases.

Adjusted Net Income and Adjusted Earnings per Share

Adjusted Net Income (previously defined and used as described above) for the nine months ended September 30, 2025 was $37.8 million, representing a decrease of $14.8 million, or 28.1%, from Adjusted Net Income of $52.6 million for the nine months ended September 30, 2024. The decrease in Adjusted Net Income was primarily due to the decrease in Net Income as 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 Net Income:

Nine Months Ended September 30,(in thousands, except for per share data)20252024Net Income$23,739 $43,436 Adjusted for:Share-based compensation (a)7,004 6,857 Restructuring costs (b)306 2,738 Transaction costs (c)8,746 86 Legal contingency settlement (