Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 23

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 23
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 lease cost for the three months ended March 31, 2025 and 2024, was as follows (in thousands):Three Months Ended March 31,Lease Cost20252024Operating lease cost (2)$1,745 $1,802 (2) Operating lease cost is included in other selling, general and administrative expenses in the condensed consolidated statements of income and comprehensive income for the three months ended March 31, 2025 and 2024.As of March 31, 2025 and December 31, 2024, the Company’s weighted-average remaining lease terms on its operating leases is 6.5 and 6.6 years, and the Company’s weighted-average discount rate is 6.32% and 6.31%, respectively, which is the Company’s incremental 

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borrowing rate. The Company used its incremental borrowing rate for all leases, as none of the Company’s lease agreements provide a readily determinable implicit rate. Lease PaymentsFuture minimum lease payments for assets under non-cancelable operating lease agreements with original terms of more than one year are as follows (in thousands):2025$5,218 20265,661 20274,046 20282,879 20292,305 Thereafter9,807 Total lease payments29,916 Less: Imputed interest(6,031)Present value of lease liabilities$23,885 

NOTE 8 – WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET

Wire transfers and money orders payable, net consisted of the following (in thousands):March 31, 2025December 31, 2024Wire transfers payable, net$46,064 $22,437 Customer voided wires payable34,527 32,583 Money orders payable34,490 30,024 $115,081 $85,044 Customer voided wires payable consist primarily of wire transfers that were not completed because the recipient did not collect the funds within 30 days and the sender has not claimed the funds and, therefore, are considered unclaimed property. Unclaimed property laws of each state in the United States in which we operate, the District of Columbia, and Puerto Rico require us to track certain information for all of our money remittances and payment instruments and, if the funds underlying such remittances and instruments are unclaimed at the end of an applicable statutory abandonment period, require us to remit the proceeds of the unclaimed property to the