Company: IMXI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051013
Chunk: 75

Company: International Money Express, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 75
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 equivalents, end of period$151,589 $156,611 

Operating Activities

Net cash provided by operating activities was $52.5 million for the nine months ended September 30, 2025, a decrease of $5.5 million from net cash provided by operating activities of $58.0 million for the nine months ended September 30, 2024. The decrease is primarily a result of a $9.7 million change in working capital, which varies due to timing of remittances of consumer funds by sending agents and transmittal orders and payments, as well as prefunding of payers primarily for weekends, and also reflects the decrease in net income. 

Investing Activities

Net cash used in investing activities was $17.5 million for the nine months ended September 30, 2025, representing a decrease of $10.4 million from net cash used in investing activities of $27.9 million for the nine months ended September 30, 2024. This decrease in cash used was primarily due to the capitalization of leasehold improvements, furniture and equipment related to the Company's move to the new U.S. headquarters during the nine months ended September 30, 2024 in an amount of $9.9 million, which did not recur during the nine months ended September 30, 2025.

Financing Activities

Net cash used in financing activities was $16.1 million for the nine months ended September 30, 2025, which primarily consisted of $16.3 million used for repurchases of common stock and $1.1 million of payments for stock-based awards for shares withheld for tax payments in connection with share-based compensation arrangements. This was partially offset by $1.3 million of net borrowings under the revolving credit facility.

Net cash used in financing activities was $111.2 million for the nine months ended September 30, 2024, which primarily consisted of $24.2 million of net borrowings from the revolving credit facility, $75.5 million in regular quarterly pay-downs for the first half of the year and final payoff of the term loan facility, $54.9 million used for repurchases of common stock, $3.1 million in debt origination costs related to the Second A&R Credit Agreement and $2.0 million of payments for stock-based awards for shares withheld for tax payments in connection with share-based compensation arrangements.

46

Critical Accounting Estimates

The preparation of