Company: IMXI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051013
Chunk: 124

Company: International Money Express, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 124
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2024. The decrease in Adjusted Net Income was primarily due to the decrease in Net Income discussed above, offset by the higher net effect of the adjusting items detailed in the table below.

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The following table presents the reconciliation of Net Income, our closest GAAP measure, to Adjusted Net Income:

Three Months Ended September 30,(in thousands, except for per share data)20252024Net Income$4,963 $17,297 Adjusted for:Share-based compensation (a)2,759 2,312 Restructuring costs (b)— 27 Transaction costs (c)5,353 50 Other charges and expenses (d)740 276 Amortization of intangibles (e)1,066 959 Income tax benefit related to adjustments (f)(3,402)(1,078)Adjusted Net Income$11,479 $19,843 Adjusted Earnings per ShareBasic$0.39 $0.61 Diluted$0.38 $0.61 Weighted-average common shares outstandingBasic29,616,788 32,366,831 Diluted29,816,620 32,732,465 

(a)Represents share-based compensation relating to equity awards granted primarily to employees and independent directors of the Company.

(b)Represents primarily severance related to the execution of restructuring plans.

(c)Represents primarily financial advisory, professional and legal fees related to evaluation of strategic alternatives, including the pending Merger with Western Union and business acquisition transactions.

(d)Represents primarily loss on disposal of fixed assets.

(e)Represents the amortization of certain intangible assets that resulted from business and asset acquisition transactions.

(f)Represents the current and deferred tax impact of the taxable adjustments to Net Income using the Company’s blended federal and state tax rate for each period. Relevant tax-deductible adjustments include all adjustments to Net Income.

Adjusted Earnings per Share - Basic for the three months ended September 30, 2025 was $0.39, representing a decrease of $0.22, or 36.1%, compared to $0.61 for the three months ended September 30, 2024. The decrease in Adjusted Earnings per Share - Basic was primarily due to the decrease in Net Income, partially offset by the effect of a lower weighted average common shares total for the period due to stock repurchases as well as the higher net effect of the adjusting items detailed in