Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 128

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 8
Chunk 128
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, 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% ofRevenuesSix Months Ended June 30, 2024% ofRevenuesOperating expenses:Service charges from agents and banks$196,045 64 %$211,303 66 %Salaries and benefits36,813 12 %34,999 11 %Other selling, general and administrative expenses23,343 8 %20,434 6 %Provision for credit losses3,924 1 %3,371 1 %Restructuring costs306 NM2,711 1 %Transaction costs3,393 1 %36 NMDepreciation and amortization8,083 3 %6,599 2