Company: IMXI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051013
Chunk: 1

Company: International Money Express, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 3
Chunk 1
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.50 20.75 17.71 U.S. dollar/Guatemalan Quetzal7.65 7.67 7.68 7.76 U.S. dollar/Canadian Dollar1.39 1.40 1.44 1.36 U.S. dollar/Dominican Peso61.91 61.11 61.10 59.10 U.S. dollar/Euro0.85 0.90 0.96 0.92 U.S. dollar/British Pound Sterling0.74 0.76 0.80 0.76 

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

(2)Average exchange rates are for the nine months ended September 30, 2025 and 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 nine months ended September 30, 2025, the Federal Reserve lowered the fed funds rate from 4.50% to 4.25%. As a consequence, other benchmark interest rates such as SOFR started to decrease during September 2025. The Company expects that the Federal Reserve will continue to monitor inflation and other economic indicators to assess if additional interest rate decreases in 2025 are warranted. As of September 30, 2025, we had $157.9 million in outstanding borrowings under the revolving credit facility. A hypothetical 1% increase or decrease in the interest rate on our indebtedness as of September 30, 2025 would have increased or decreased cash interest expense on our revolving credit facility by approximately $1.6 million per annum, respectively.

48

Index

Credit Risk

We maintain certain cash balances in various U.S. banks, which at times, may exceed federally insured limits. We have not incurred any losses on these accounts. In addition, we maintain cash in various bank accounts in Mexico,