Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 138

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 2
Chunk 138
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 31, 2025 and 2024, respectively, which we expect to be consistent throughout the year. We have not entered into finance lease commitments. For additional information on operating lease obligations, refer to Note 7, Leases, to the Condensed Consolidated Financial Statements.

38

Cash Flows

The following table summarizes the changes to our cash flows for the periods presented:

Three Months Ended March 31,(in thousands)20252024Statements of Cash Flows Data:Net cash provided by operating activities$41,282 $48,236 Net cash used in investing activities(5,313)(13,480)Net cash used in financing activities(15,145)(55,064)Effect of exchange rate changes on cash and cash equivalents437 (100)Net increase (decrease) in cash and cash equivalents21,261 (20,408)Cash and cash equivalents, beginning of period130,503 239,203 Cash and cash equivalents, end of period$151,764 $218,795 

Operating Activities

Net cash provided by operating activities was $41.3 million for the three months ended March 31, 2025, a decrease of $6.9 million from net cash provided by operating activities of $48.2 million for the three months ended March 31, 2024. The decrease is primarily a result of a $4.3 million decrease in Net Income and a $3.4 million change in working capital, which varies due to timing of remittances of consumer funds by sending agents and transmittal orders and payments, as well as prefunding of payers primarily for weekends.

Investing Activities

Net cash used in investing activities was $5.3 million for the three months ended March 31, 2025, representing a decrease of $8.2 million from net cash used in investing activities of $13.5 million for the three months ended March 31, 2024. This decrease in cash used was primarily due to the capitalization of leasehold improvements, furniture and equipment related to the Company's move to the new U.S. headquarters during the three months ended March 31, 2024 in an amount of $8.4 million, which did not recur during the three months ended March 31, 2025.

Financing Activities

Net cash used in financing activities was $15.1 million for the three months ended March 31, 2025, which primarily consisted