Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 91

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 8
Chunk 91
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 method that correlates with the projected realization of the benefit. The agent relationships intangible represents the network of independent sending agents; trade names refers to the Intermex, La Nacional, Amigo Paisano and I-Transfer names, branded on all applicable agent locations and well recognized in the market; and developed technology includes the state-of-the-art system that the Company has continued to develop and improve over the past 20 years. Other intangible assets relate to the acquisition of Company-operated stores, which are amortized on a straight line basis over 10 years, and non-competition agreements, which are amortized over the length of the agreement, typically 5 years. The determination of our intangible fair values includes several assumptions that are subject to various risks and uncertainties. Management believes it has made reasonable estimates and judgments concerning these risks and uncertainties, and no impairment charges were determined necessary to be recognized during the three and six months ended June 30, 2025.The following table presents the changes in goodwill and intangible assets (in thousands):GoodwillIntangiblesBalance at December 31, 2024$55,195 $26,847 Acquisition of agent locations— 2,315 Amortization expense— (2,257)Balance at June 30, 2025$55,195 $26,905 Other intangible assets of approximately $2.3 million resulting from the acquisition of agent locations during the three and six months ended June 30, 2025 have a weighted average useful life of 10 years.Amortization expense related to intangible assets for the remainder of 2025 and thereafter is as follows (in thousands):2025$2,328 20263,981 20273,405 20282,923 20292,532 Thereafter11,736 $26,905 

NOTE 7 – LEASES

To conduct certain of our operations, the Company is a party to leases for office space, warehouses and Company-operated store locations and vehicles. The presentation of right-of-use assets and lease liabilities in the condensed consolidated balance sheets is as follows (in thousands):

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LeasesClassificationJune 30, 2025December 31, 2024AssetsRight-of-use assetsOther assets(1)$16,558 $18,511 Total leased assets$16,558 $18,511 LiabilitiesCurrentOperatingAccrued and other liabilities$6,498 $6,468