Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 120

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 8
Chunk 120
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 5,776 8,967 10,554 Net income$11,007 $14,033 $18,776 $26,139 Earnings per common share:Basic$0.37 $0.43 $0.62 $0.79 Diluted$0.37 $0.42 $0.62 $0.78 

Three Months Ended June 30, 2025 Compared to Three Months Ended June 30, 2024

Revenues

Revenues for the above periods are presented below:

($ in thousands)Three Months Ended June 30, 2025% ofRevenuesThree Months Ended June 30, 2024% ofRevenuesRevenues:Wire transfer and money order fees, net$132,970 82 %$145,837 85 %Foreign exchange gain, net23,681 15 %22,800 13 %Other income4,482 3 %2,894 2 %Total revenues$161,133 100 %$171,531 100 %

Wire transfer and money order fees, net of $133.0 million for the three months ended June 30, 2025 decreased by $12.8 million, or 8.8%, from $145.8 million for the three months ended June 30, 2024. The decrease was primarily due to a lower transaction volume processed through our retail network of sending agents and Company-operated stores in the second quarter of 2025 compared to the second quarter of 2024 as a result of a contraction in the market, particularly the Mexico corridor coupled with a change in consumer behavior of 

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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.

Revenues from foreign exchange gain, net of $23.7 million for the three months ended June 30, 2025 increased by $0.9 million, or 3.9%, from $22.8 million for the three 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.

Other income of $4.5 million for the three months ended June 30, 2025 increased by $1.6 million, or 55