Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 141

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 8
Chunk 141
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.95 20.75 17.10 U.S. dollar/Guatemalan Quetzal7.67 7.68 7.68 7.77 U.S. dollar/Canadian Dollar1.37 1.41 1.44 1.36 U.S. dollar/Dominican Peso59.47 60.89 61.10 58.85 U.S. dollar/Euro0.85 0.92 0.96 0.93 U.S. dollar/British Pound Sterling(3)0.73 0.77 0.80 — 

(1)Spot exchange rates are as of June 30, 2025 and December 31, 2024.

(2)Average exchange rates are for the six months ended June 30, 2025 and 2024.

(3)We commenced operations in the United Kingdom in connection with an acquisition of a money service entity in July 2024 and, therefore, no information is provided for the six months ended June 30, 2024.

Long-term sustained appreciation of the Mexican peso or Guatemalan quetzal as compared to the U.S. dollar could affect our revenues and profit margins.

Interest Rate Risk

As discussed above, interest under the Second A&R Credit Agreement is variable based on certain benchmark rates, including SOFR, EURIBOR and SONIA. Because interest expense is subject to fluctuation, if interest rates increase, our debt service obligations on such variable rate indebtedness would increase even though the amount borrowed may remain the same. Accordingly, an increase in interest rates would adversely affect our profitability.

During the six months ended June 30, 2025, the Federal Reserve maintained the fed funds rate at 4.50% as it continues monitoring any potential impact on the U.S. economy of recent trade actions and other measures implemented by the United States and other countries. Although the Federal Reserve has lowered short-term interest rates since September 2024, interest rates, particularly long-term rates, remain elevated and the timing, direction and extent of any future interest rate changes remain uncertain. As of June 30, 2025, we had $144.1 million in outstanding borrowings under the revolving credit facility. A hypothetical 1% increase or decrease in the interest rate on our indebtedness as of June 30, 2025 would have increased or decreased cash interest expense on our revolving credit facility by approximately $1