Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 59

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 59
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$41,282 $48,236 Net cash used in investing activities(5,313)(13,480)Net cash used in financing activities(15,145)(55,064)Effect of exchange rate changes on cash and cash equivalents437 (100)Net increase (decrease) in cash and cash equivalents21,261 (20,408)Cash and cash equivalents, beginning of period130,503 239,203 Cash and cash equivalents, end of period$151,764 $218,795 

Operating Activities

Net cash provided by operating activities was $41.3 million for the three months ended March 31, 2025, a decrease of $6.9 million from net cash provided by operating activities of $48.2 million for the three months ended March 31, 2024. The decrease is primarily a result of a $4.3 million decrease in Net Income and a $3.4 million change in working capital, which varies due to timing of remittances of consumer funds by sending agents and transmittal orders and payments, as well as prefunding of payers primarily for weekends.

Investing Activities

Net cash used in investing activities was $5.3 million for the three months ended March 31, 2025, representing a decrease of $8.2 million from net cash used in investing activities of $13.5 million for the three months ended March 31, 2024. This decrease in cash used was primarily due to the capitalization of leasehold improvements, furniture and equipment related to the Company's move to the new U.S. headquarters during the three months ended March 31, 2024 in an amount of $8.4 million, which did not recur during the three months ended March 31, 2025.

Financing Activities

Net cash used in financing activities was $15.1 million for the three months ended March 31, 2025, which primarily consisted of $9.2 million of net repayments under the revolving credit facility, $5.0 million used for repurchases of common stock and $0.9 million of payments for stock-based awards for shares withheld for tax payments in connection with share-based compensation arrangements.

Net cash provided by financing activities was $55.1 million for the three months ended March 31, 2024, which primarily consisted of $28.5 million of net repayments of the Company's former revolving credit facility, $