Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 76

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 1
Chunk 76
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, to the Condensed Consolidated Financial Statements.

Merger Agreement

Until the Merger closes, or the Merger Agreement is terminated, our liquidity requirements will primarily be funded by our cash flow from operations, borrowings under our existing credit facility and certain other capital activities allowed under the Merger Agreement. In particular, we are subject to various restrictions under the Merger Agreement (except for under limited exceptions) on assuming additional debt, issuing additional equity or debt, repurchasing equity, making certain capital expenditures, and entering into certain acquisition, disposition and leasing transactions, among other restrictions, subject to the restrictions under the Merger Agreement.

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Cash Flows

The following table summarizes the changes to our cash flows for the periods presented:

Six Months Ended June 30,(in thousands)20252024Statements of Cash Flows Data:Net cash provided by operating activities$81,184 $28,666 Net cash used in investing activities(10,033)(20,150)Net cash used in financing activities(29,767)(14,066)Effect of exchange rate changes on cash and cash equivalents2,836 (444)Net increase (decrease) in cash and cash equivalents44,220 (5,994)Cash and cash equivalents, beginning of period130,503 239,203 Cash and cash equivalents, end of period$174,723 $233,209 

Operating Activities

Net cash provided by operating activities was $81.2 million for the six months ended June 30, 2025, an increase of $52.5 million from net cash provided by operating activities of $28.7 million for the six months ended June 30, 2024. The increase is primarily a result of a $58.8 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. This was partially offset by a $7.3 million decrease in net income.

Investing Activities

Net cash used in investing activities was $10.0 million for the six months ended June 30, 2025, representing a decrease of $10.2 million from net cash used in investing activities of $20.2 million for the six months ended June 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