Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 97

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 97
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25 $0.35 

31

Three Months Ended March 31, 2025 Compared to Three Months Ended March 31, 2024

Revenues

Revenues for the above periods are presented below:

($ in thousands)Three Months Ended March 31, 2025% ofRevenuesThree Months Ended March 31, 2024% ofRevenuesRevenues:Wire transfer and money order fees, net$120,167 83 %$126,921 84 %Foreign exchange gain, net20,181 14 %20,346 14 %Other income3,962 3 %3,145 2 %Total revenues$144,310 100 %$150,412 100 %

Wire transfer and money order fees, net of $120.2 million for the three months ended March 31, 2025 decreased by $6.7 million, or 5.3%, from $126.9 million for the three months ended March 31, 2024. The decrease was primarily due to a decrease in transaction volume processed through our retail network of sending agents and Company-operated stores in the three months ended March 31, 2025 compared to the three months ended March 31, 2024, which we primarily attribute to a change in consumer behavior of sending a lower number of money transfers combined with a higher 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 three months ended March 31, 2025, principal amount sent increased by approximately 3.7% to $5.6 billion, as compared to the same period in 2024.

Revenues from foreign exchange gain, net of $20.2 million for the three months ended March 31, 2025 decreased slightly by $0.1 million, or 0.5%, from $20.3 million for the three months ended March 31, 2024. This decrease was primarily due to lower transaction volume, offset by a higher foreign exchange spread on money transfers sent to certain countries in the LAC and a higher average principal amount sent per transaction to countries such as Mexico and Guatemala as a result of the factors mentioned above.

Other income of $4.0 million for the three months ended March 31, 2025 increased by $0.9 million, or 29.0