Company: IMXI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001683695-25-000030
Chunk: 92

Company: International Money Express, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 7
Chunk 92
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 million, or a per share price of $19.11, in a privately-negotiated transaction.

Operating Leases

We are party to operating leases for office space, warehouses and Company-operated store locations, which we use as part of our day-to-day operations. Operating lease expenses were $7.0 million for the year ended December 31, 2024. We have not entered into finance lease commitments. For additional information on operating lease obligations, refer to Part II, Item 8, Financial Statements and Supplementary Data, Note 8, “Leases”.

Cash Flows

The following table summarizes the changes to our cash flows for the periods presented:

Year Ended December 31,(in thousands)202420232022Statement of Cash Flows Data:Net cash provided by operating activities$53,085 $143,525 $15,174 Net cash used in investing activities(43,946)(18,280)(12,529)Net cash (used in) provided by financing activities(114,204)(37,120)14,058 Effect of exchange rate changes on cash and cash equivalents(3,635)1,585 316 Net (decrease) increase in cash and cash equivalents(108,700)89,710 17,019 Cash and cash equivalents, beginning of the year$239,203 $149,493 $132,474 Cash and cash equivalents, end of the year$130,503 $239,203 $149,493 

Operating Activities 

Net cash provided by operating activities was $53.1 million for the year ended December 31, 2024, a decrease of $90.4 million from net cash provided by operating activities of $143.5 million for the year ended December 31, 2023. The decrease is primarily a result of $93.1 million related to changes in working capital, which varies due to timing of remittance of consumer funds by sending agents, transmittal orders and payments, as well as prefunding of payers primarily for weekends, and additional cash generated by our operating results for the year ended December 31, 2024.

Investing Activities 

Net cash used in investing activities was $43.9 million for the year ended December 31, 2024, an increase of $25.6 million from $18.3 million for the year ended December 31, 2023. This increase in cash