Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 158

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 2
Chunk 158
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 expense, and foreign tax rates applicable to the Company’s foreign subsidiaries that are higher or lower than the U.S. statutory rate.

Net Income

Net income is determined by subtracting operating and non-operating expenses from revenues.

Earnings per Share

Basic earnings per share is calculated 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 117 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.

Results of Operations

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

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Three Months Ended June 30,Six Months Ended June 30,(in thousands, except for share data)2025202420252024Revenues:Wire transfer and money order fees, net$132,970 $145,837 $253,137 $272,758 Foreign exchange gain, net23,681 22,800 43,862 43,146 Other income4,482 2,894 8,444 6,039 Total revenues161,133 171,531 305,443 321,943 Operating expenses:Service charges from agents and banks102,257 113,369 196,045 211,303 Salaries and benefits18,525 16,893 36,813 34,999 Other selling, general and administrative expenses12,354 10,481 23,343 20,434 Provision for credit losses1,858