Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 122

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 8
Chunk 122
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 $10.5 million for the three months ended June 30, 2024.

The increase was primarily the result of: 

•$1.1 million - increase in advertising related expenses primarily as a result of campaigns to promote our digital channel services; and

•$0.6 million - related to a gain on a legal contingency settlement that was recorded in the second quarter of 2024.

Restructuring costs — Restructuring costs of $2.7 million for the three months ended June 30, 2024 included primarily severance costs related to the restructuring of La Nacional and our foreign operations (none for the three months ended June 30, 2025).

Transaction costs — Transaction costs of $2.2 million for the three months ended June 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 and business acquisition transactions.

Depreciation and amortization — Depreciation and amortization of $4.5 million for the three months ended June 30, 2025 increased by $1.1 million or 32.4% from $3.4 million for the three months ended June 30, 2024. The increase is primarily the result of higher 

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depreciation associated with additional software developed being placed into production and computer equipment acquired to support our digital channels services expansion initiatives and sending agent network, as well as amortization related to the Amigo Paisano brands. 

Non-Operating Expenses

Interest expense — Interest expense of $3.1 million for the three months ended June 30, 2025 remained virtually flat as compared to the three months ended June 30, 2024. 

Income tax provision — Income tax provision was $5.4 million for the three months ended June 30, 2025, which represents a decrease of $0.4 million from an income tax provision of $5.8 million for the three months ended June 30, 2024. The decrease in income tax provision was mainly attributable to lower income before taxes primarily due to the factors discussed above.

Net Income

We reported Net Income of $11.0 million for the three months ended June 30, 2025 compared to Net Income of $14.0 million for the three months ended June 30, 2024, which resulted in a decrease of $3.0 million, or 21.4%, due to the same factors