Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 24

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 24
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 appropriate jurisdiction. Applicable statutory abandonment periods range from three to seven years.

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NOTE 9 – ACCRUED AND OTHER LIABILITIES

Accrued and other liabilities consisted of the following (in thousands):March 31, 2025December 31, 2024Commissions payable to sending agents$17,925 $18,080 Accrued salaries and benefits4,152 5,581 Accrued bank charges1,960 1,839 Lease liability, current portion6,392 6,468 Accrued professional fees1,260 1,092 Accrued taxes5,333 2,965 Deferred revenue loyalty program2,039 2,692 Contingent consideration liability1,158 1,158 Acquisition related liabilities1,244 1,244 Accrued transaction costs74 1,600 Other6,440 4,715 $47,977 $47,434 The following table shows the changes in the deferred revenue loyalty program liability (in thousands):Three Months Ended March 31,20252024Beginning balance$2,692 $4,771 Revenue deferred during the period141 682 Revenue recognized during the period(794)(672)Ending balance$2,039 $4,781 

NOTE 10 – DEBT

Debt consisted primarily of the following (in thousands):March 31, 2025December 31, 2024Revolving credit facility$147,365 $156,600 Other20 23 $147,385 $156,623 Until August 28, 2024, the Company and certain of its domestic subsidiaries as borrowers and the other guarantors from time to time party thereto (collectively, the “Loan Parties”) maintained an Amended and Restated Credit Agreement (as amended, the “A&R Credit Agreement”) with a group of banking institutions. The A&R Credit Agreement provided for a $220.0 million revolving credit facility, an $87.5 million term loan facility and an uncommitted incremental facility, which may have been utilized for additional revolving or term loans, of up to $70.0 million. The A&R Credit Agreement also provided for the issuance of letters of credit, which would reduce availability under the revolving credit facility. The proceeds of the term loan were used to refinance the existing term loan facility under the Company’s previous credit agreement, and