Company: IMXI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051013
Chunk: 77

Company: International Money Express, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 77
---
31, 2024, there are $17.3 million and $23.0 million, respectively, of wires payable denominated in foreign currencies, primarily Mexican pesos and Guatemalan quetzales.

Also, included in prepaid wires, net in our condensed consolidated balance sheets as of September 30, 2025 and December 31, 2024, there are $12.6 million and $29.8 million, respectively, of prepaid wires denominated in foreign currencies, primarily Mexican pesos and Guatemalan quetzales.

We are also exposed to changes in currency rates as a result of our investments in foreign operations and revenues generated in currencies other than the U.S. dollar. Revenues and profits generated by our international operations will increase or decrease because of changes in foreign currency exchange rates. This foreign currency risk is related primarily to our operations in our foreign subsidiaries. Revenues from our foreign subsidiaries represents approximately 3% of our consolidated revenues for the nine months ended September 30, 2025. Therefore, a 10% increase or decrease in these currency rates against the U.S. Dollar would result in a de minimis change to our overall operating results.

The spot and average exchange rates for the currencies in which we operate to U.S. dollar are as follows:

20252024Spot(1)Average(2)Spot(1)Average(2)U.S. dollar/Mexican Peso18.32 19.50 20.75 17.71 U.S. dollar/Guatemalan Quetzal7.65 7.67 7.68 7.76 U.S. dollar/Canadian Dollar1.39 1.40 1.44 1.36 U.S. dollar/Dominican Peso61.91 61.11 61.10 59.10 U.S. dollar/Euro0.85 0.90 0.96 0.92 U.S. dollar/British Pound Sterling0.74 0.76 0.80 0.76 

(1)Spot exchange rates are as of September 30, 2025 and December 31, 2024.

(2)Average exchange rates are for the nine months ended September 30, 2025 and 2024.

Long-term sustained appreciation of the Mexican peso or Guatemalan quetzal as compared to the U.S. dollar could affect our revenues and profit margins.