Company: IMXI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051013
Chunk: 120

Company: International Money Express, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 120
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 and benefits19,701 13 %17,238 10 %Other selling, general and administrative expenses14,132 9 %10,412 6 %Provision for credit losses2,154 1 %1,665 1 %Restructuring costs— — %27 NMTransaction costs5,353 3 %50 NMDepreciation and amortization4,410 3 %3,382 2 %Total operating expenses$144,386 93 %$144,122 84 %

NM - Amounts round to less than 1%.

Service charges from agents and banks — Service charges from agents and banks were $98.6 million for the three months ended September 30, 2025 compared to $111.3 million for the three months ended September 30, 2024. The decrease of $12.7 million, or 11.4%, was primarily due to the decrease in transaction volume described above, as well as lower payer fees as a result of better pricing negotiated with paying agents.

Salaries and benefits — Salaries and benefits of $19.7 million for the three months ended September 30, 2025 increased by $2.5 million, or 14.5%, from $17.2 million for the three months ended September 30, 2024. The increase is primarily due to the Company's investment in talent acquisition and improved compensation for our sales force and digital channel services, as well as severance payments incurred in the normal course of business.

Other selling, general and administrative expenses — Other selling, general and administrative expenses of $14.1 million for the three months ended September 30, 2025 increased by $3.7 million, or 35.6%, from $10.4 million for the three months ended September 30, 2024.

The increase was primarily the result of: 

•$2.1 million - increase in advertising and marketing related expenses primarily as a result of campaigns to promote our digital channel services;

•$0.4 million - loss on disposal of assets primarily relating to asset disposals due to the integration of La Nacional;

•$0.4 million - higher IT related expenses incurred to sustain our business expansion and to improve our technology environment; and

•$0.3 million - related to other professional and legal fees.

Provision for credit losses — Provision for credit losses of $2.2 million for