Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 28

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 28
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 the fair value of the assets or liabilities.The Company’s non-financial assets measured at fair value on a nonrecurring basis include goodwill and intangible assets. The determination of our intangible fair values is based on a discounted cash flows analysis that includes several assumptions and inputs to measure the economic benefit of these assets over their useful lives, such as the Company’s forecasted revenues, assumed turnover of agent locations, obsolescence assumptions for technology, market discount and royalty rates. These inputs are based on information not observable in the market and represent Level 3 measurements within the fair value hierarchy. The Company's financial assets and liabilities are carried at amortized cost. The Company’s cash and cash equivalents balances are representative of their fair values as these balances are comprised of deposits available on demand or overnight. The carrying amounts of accounts receivable, agent advances receivable, prepaid wires, accounts payable and wire transfers and money orders payable are representative of their fair values because of the short turnover of these instruments.The Company’s financial liabilities include its revolving credit facility. The estimated fair value of the revolving credit facility would approximate book value given the payment schedule and interest rate structure, which approximates current market interest rates.The following tables present the Company's financial instruments that are not measured at fair value, categorized based upon the fair value hierarchy (in thousands):March 31, 2025Level 1Level 2Level 3Cash and cash equivalents$151,764 $— $— Accounts receivable, net— 131,026 — Agent advances, net of allowance— 4,174 — Prepaid wires— 32,577 — Total assets$151,764 $167,777 $— Accounts payable$— $23,410 $— Wire transfers and money orders payable— 115,081 — Revolving credit facility— 147,365 — Total liabilities$— $285,856 $— December 31, 2024Level 1Level 2Level 3Cash and cash equivalents$130,503 $— $— Accounts receivable, net— 107,077 — Agent advances, net of allowance— 4,285 — Prepaid wires— 49,205 — Total assets$130,503 $160,567 $— Accounts payable$— $19,520 $— Wire transfers and money orders payable— 85,044