Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 167

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 2
Chunk 167
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 %Foreign exchange gain, net43,862 14 %43,146 13 %Other income8,444 3 %6,039 2 %Total revenues$305,443 100 %$321,943 100 %

Wire transfer and money order fees, net of $253.1 million for the six months ended June 30, 2025 decreased by $19.7 million, or 7.2%, from $272.8 million for the six months ended June 30, 2024. The decrease was primarily due to a decrease in transaction volume processed through our retail network of sending agents and Company-operated stores in the six months ended June 30, 2025 compared to the six months ended June 30, 2024, which we primarily attribute to a contraction in the remittance market, particularly the Mexico corridor coupled with a change in consumer behavior of sending a lower number of money transfers at a higher average principal sent per transaction. Therefore, the lower number of wire transfers sent resulted in lower fees paid by consumers. As noted in the overview section above, for the six months ended June 30, 2025, principal amount sent decreased by approximately 0.8% to $11.8 billion whereas the number of transactions decreased by approximately 6.3% to 26.9 million, as compared to the same period in 2024 

Revenues from foreign exchange gain, net of $43.9 million for the six months ended June 30, 2025 increased by $0.8 million, or 1.9%, from $43.1 million for the six months ended June 30, 2024. This increase was primarily due to an increase in the average principal sent per transaction as well as a strengthening of the U.S. dollar against the Mexican peso.

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Other income of $8.4 million for the six months ended June 30, 2025 increased by $2.4 million, or 40.0%, from $6.0 million for the six months ended June 30, 2024 primarily due to the effect of higher fees related to increased activity of our remittance-as-a-service relationships, as well as higher revenues primarily as a result of an increase of the base fees charged on money transfers and money orders deemed abandoned property.

Operating Expenses

Operating expenses for the above periods are presented below:

($ in thousands)Six Months Ended June 30, 2025