Company: IMXI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001683695-25-000030
Chunk: 124

Company: International Money Express, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 124
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2022.As of December 31, 2024 and 2023, the Company’s weighted-average remaining lease terms on its operating leases is 6.6 and 6.7 years, and the Company’s weighted-average discount rate is 6.31% and 6.06%, respectively, which is the Company's incremental borrowing rate. The Company used its incremental borrowing rate for all leases, as none of the Company’s lease agreements provide a readily determinable implicit rate.Lease PaymentsFuture minimum lease payments for assets under non-cancelable operating lease agreements with original terms of more than one year for the next five years and thereafter are as follows (in thousands):2025$6,899 20265,521 20273,907 20282,877 20292,305 Thereafter9,807 Total lease payments31,316 Less: Imputed interest(6,266)Present value of lease liabilities$25,050 

NOTE 9 – GOODWILL AND INTANGIBLE ASSETS

Goodwill consists of the following (in thousands):December 31,20242023Indefinite life:Goodwill$55,195 $53,986 Total indefinite life$55,195 $53,986 Intangible assets consist of the following (in thousands):December 31, 2024December 31, 2023Gross CarryingValueAccumulatedAmortizationNetCarryingValueGross CarryingValueAccumulated AmortizationNetCarryingValueAmortizable:Agent relationships$49,020 $(40,489)$8,531 $49,020 $(38,212)$10,808 Trade names30,598 (13,846)16,752 18,598 (12,428)6,170 Developed technology6,600 (6,326)274 6,600 (6,194)406 Other intangibles2,253 (963)1,290 1,554 (795)759 Net amortizable intangible assets$88,471 $(61,624)$26,847 $75,772 $(57,629)$18,143 Goodwill and the majority of intangible assets on the consolidated balance sheets of the Company were primarily recognized from business acquisition transactions. The fair value measurements were based on significant inputs, such as the Company’s forecasted revenues, assumed turnover of agent locations, obsolescence assumptions for