Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 70

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 70
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 other assets (see Note 5) in the condensed consolidated balance sheets. At March 31, 2025 and December 31, 2024, there were $4.5 million and $4.6 million, respectively, of agent advances receivable collateralized by personal guarantees from sending agents and assets from their businesses in case of a default by the agent.The maturities of agent advances receivable at March 31, 2025 are as follows (in thousands):Outstanding BalanceUnder 1 year$2,156 Between 1 and 2 years1,856 More than 2 years to 3 years499 Total$4,511 Allowance for Credit LossesThe changes in the allowance for credit losses related to accounts receivable and agent advances receivable are as follows (in thousands):Three Months Ended March 31,20252024Beginning balance$3,836 $2,794 Provision2,066 1,595 Charge-offs(1,757)(1,847)Recoveries170 458 Other117 (70)Ending Balance$4,432 $2,930 The allowance for credit losses allocated by financial instrument category is as follows (in thousands):

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March 31, 2025December 31, 2024Accounts receivable$4,095 $3,546 Agent advances receivable337 290 Allowance for credit losses$4,432 $3,836 

NOTE 5 – PREPAID EXPENSES AND OTHER ASSETS

Prepaid expenses and other current assets consisted of the following (in thousands):March 31, 2025December 31, 2024Prepaid insurance$778 $1,097 Prepaid fees and services3,481 2,823 Agent incentive advances2,586 2,494 Agent advances receivable, net of allowance1,944 2,087 Prepaid marketing298 502 Prepaid income taxes158 119 Prepaid expenses and other current assets1,316 1,876 $10,561 $10,998 Other assets consisted of the following (in thousands):March 31, 2025December 31, 2024Revolving credit facility origination fees$4,320 $4,576 Agent incentive advances3,469 3,702 Agent advances receivable, net of allowance2,230 2,198 Right