Company: IMXI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051013
Chunk: 121

Company: International Money Express, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 121
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 the three months ended September 30, 2025 increased by $0.5 million, or 29.4%, from $1.7 million for the three months ended September 30, 2024. The increase is primarily due to a higher 

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average balance outstanding of receivables balances from sending agents during the period, and an increase in write-offs of receivable balances primarily as a result of sending agents that were not able to pay in accordance with the original terms of their agreements with us and are, accordingly, subject to our normal collection procedures.

Transaction costs — Transaction costs of $5.4 million for the three months ended September 30, 2025 consist primarily of financial advisory fees as well as other professional fees and legal fees incurred in connection with the Company's evaluation of strategic alternatives, including the pending Merger with Western Union.

Depreciation and amortization — Depreciation and amortization of $4.4 million for the three months ended September 30, 2025 increased by $1.0 million or 29.4% from $3.4 million for the three months ended September 30, 2024. The increase is primarily the result of higher depreciation associated with additional software developed being placed into production and computer equipment acquired to support our proprietary software enhancements and increasing sending agent network, as well as amortization related to the Amigo Paisano brands acquired in December 2024. 

Non-Operating Expenses

Interest expense — Interest expense of $3.0 million for the three months ended September 30, 2025 decreased by $0.2 million, or 6.3%, from $3.2 million for the three months ended September 30, 2024. The decrease was primarily due to a loss on debt extinguishment of $0.3 million associated with the payoff of our term loan facility as a result of entering into the Second A&R Credit Agreement on August 29, 2024 and lower market interest rates, partly offset by a higher usage of our revolving credit facility.

Income tax provision — Income tax provision was $2.6 million for the three months ended September 30, 2025, which represents a decrease of $4.7 million from an income tax provision of $7.3 million for the three months ended September 30, 2024. The decrease in income tax provision was mainly attributable to lower income before taxes primarily due to the factors discussed above.

Net Income

We reported Net Income of $5