Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 96

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 8
Chunk 96
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 by dividing net income by the weighted-average number of common shares outstanding for each period. Diluted earnings per share is calculated by dividing net income by the weighted-average number of common shares and common share equivalents outstanding for each period. Diluted earnings per share reflects the potential dilution that could occur if outstanding stock options at the presented dates are exercised and shares of RSUs, RSAs and PSUs have vested, using the treasury stock method. Shares of treasury stock are not considered outstanding and therefore are excluded from the weighted-average number of common shares outstanding calculation.

Segments

Our business is organized around one reportable segment that provides money transmittal services primarily between the United States and Canada, and certain countries in Europe to Mexico, Guatemala and other countries in Latin America, Africa, Asia and Europe through a network of authorized agents located in various unaffiliated retail establishments and 116 Company-operated stores throughout the United States, Canada, Spain, Italy, Germany and the United Kingdom, as well as digitally through the Internet via our websites and mobile device applications. This is based on the objectives of the business and how our chief operating decision maker, the CEO and President, monitors operating performance and allocates resources.

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Results of Operations

The following table summarizes the key components of our results of operations for the periods indicated:

Three Months Ended March 31,(in thousands, except for share data)20252024Revenues:Wire transfer and money order fees, net$120,167 $126,921 Foreign exchange gain, net20,181 20,346 Other income3,962 3,145 Total revenues144,310 150,412 Operating expenses:Service charges from agents and banks93,788 97,934 Salaries and benefits18,288 18,106 Other selling, general and administrative expenses10,989 9,953 Provision for credit losses2,066 1,595 Restructuring costs306 — Transaction costs1,169 10 Depreciation and amortization3,629 3,228 Total operating expenses130,235 130,826 Operating income14,075 19,586 Interest expense2,700 2,702 Income before income taxes11,375 16,884 Income tax provision3,606 4,778 Net income$7,769 $12,106 Earnings per common share:Basic$0.25 $0.36 Diluted$0.