Company: IMXI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051013
Chunk: 129

Company: International Money Express, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 8
Chunk 129
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 Restructuring costs of $0.3 million for the nine months ended September 30, 2025 decreased by $2.4 million, or 89%, from $2.7 million for the nine months ended September 30, 2024. Restructuring costs included primarily severance costs related to the restructuring of La Nacional and our foreign operations, which were primarily incurred during 2024. 

Transaction Costs — Transaction costs of $8.7 million for the nine months ended September 30, 2025 consist primarily of financial advisory fees as well as other professional fees and legal fees incurred in connection with the Company's evaluation of strategic alternatives, including the pending Merger with Western Union and business acquisition transactions. 

Depreciation and amortization — Depreciation and amortization of $12.5 million for the nine months ended September 30, 2025 increased by $2.5 million from $10.0 million or 25.0%, for the nine months ended September 30, 2024. The increase is primarily the result of higher depreciation associated with additional software developed being placed into production and computer equipment acquired to support our proprietary software enhancements and increasing sending agent network, as well as amortization related to the Amigo Paisano brands acquired in December 2024.

Non-Operating Expenses

Interest expense — Interest expense of $8.8 million for the nine months ended September 30, 2025 decreased slightly, from $9.0 million for the nine months ended September 30, 2024. The decrease was primarily due to a loss on debt extinguishment of $0.3 million associated with the payoff of our term loan facility as a result of entering into the Second A&R Credit Agreement on August 29, 2024 and lower market interest rates paid during 2025, offset by a higher usage of our revolving credit facility.

Income tax provision — Income tax provision was $11.6 million for the nine months ended September 30, 2025, which represents a decrease of $6.3 million from an income tax provision of $17.9 million for the nine months ended September 30, 2024. The decrease in income tax provision was mainly attributable to a decrease in income before taxes primarily due to the factors discussed above. 

Net Income

We reported Net Income of $23.7 million for the nine months ended September 30, 2025 compared to Net Income of $43.4 million for the nine months ended September