Company: IMXI
Filing Date: 2025-02-27
Form Type: 10-K
Source: 0001683695-25-000030
Chunk: 121

Company: International Money Express, Inc.
Filing Date: 2025-02-27
Form: 10-K
Item: Item 8
Chunk 121
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ance for credit losses(117)(102)Net long-term$2,198 $2,897 The net current portion of agent advances receivable is included in prepaid expenses and other current assets (see Note 6), and the net long-term portion is included in other assets in the consolidated balance sheets. At December 31, 2024 and 2023, there were $4.6 million and $4.6 million, respectively, of agent advances receivable collateralized by personal guarantees from the sending agents and assets from their businesses in case of a default by the agent.The maturities of agent advances receivable at December 31, 2024 are as follows (in thousands):OutstandingBalanceUnder 1 year$2,260 Between 1 and 2 years2,106 Between 2 and 3 years209 Total$4,575 Allowance for Credit LossesThe changes in the allowance for credit losses related to accounts receivable and agent advances receivable are as follows (in thousands):Year Ended December 31,202420232022Beginning balance$2,794 $2,648 $2,249 Provision6,411 4,997 2,572 Charge-offs(6,248)(5,852)(2,982)Recoveries1,174 987 809 Other(295)14 — Ending Balance$3,836 $2,794 $2,648 The allowance for credit losses allocated by financial instrument category is as follows (in thousands):December 31,202420232022Accounts receivable$3,546 $2,610 $2,555 Agent advances receivable290 184 93 Allowance for credit losses$3,836 $2,794 $2,648 

F-16

NOTE 6 – PREPAID EXPENSES AND OTHER ASSETS

Prepaid expenses and other current assets consisted of the following (in thousands):December 31,20242023Prepaid insurance$1,097 $1,205 Prepaid fees and services2,823 2,299 Agent incentives advances2,494 1,692 Agent advances receivable, net of allowance2,087 1,514 Prepaid marketing502 — Prepaid income taxes119 747 Tenant allowance— 1,621 Prepaid expenses and other current assets1,876 990 $10,998