Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 14

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 14
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The accompanying notes are an integral part of these unaudited condensed consolidated financial statements.6

INTERNATIONAL MONEY EXPRESS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS

(in thousands, unaudited)

Three Months Ended March 31,20252024Cash flows from operating activities:Net income$7,769 $12,106 Adjustments to reconcile net income to net cash provided by operating activities:Depreciation and amortization3,629 3,228 Share-based compensation2,112 2,153 Provision for credit losses2,066 1,595 Debt origination costs amortization256 301 Deferred income tax benefit, net(268)(502)Non-cash lease expense1,745 1,802 Loss on disposal of property and equipment249 400 Total adjustments9,789 8,977 Changes in operating assets and liabilities:Accounts receivable(25,911)4,485 Prepaid wires, net17,151 4,518 Prepaid expenses and other assets726 5,347 Wire transfers and money orders payable, net29,774 11,821 Lease liabilities(1,993)(1,355)Accounts payable and accrued and other liabilities3,977 2,337 Net cash provided by operating activities41,282 48,236 Cash flows from investing activities:Purchases of property and equipment(5,275)(13,480)Acquisition of agent locations(38)— Net cash used in investing activities(5,313)(13,480)Cash flows from financing activities:Repayments of term loan facility— (1,641)Borrowings under revolving credit facility1,916,000 — Repayments under revolving credit facility(1,925,235)(28,500)Proceeds from exercise of stock options— 98 Payments for stock-based awards(929)(1,598)Repurchases of common stock(4,981)(23,423)Net cash used in financing activities(15,145)(55,064)Effect of exchange rate changes on cash and cash equivalents437 (100)Net increase (decrease) in cash and cash equivalents21,261 (20,408)Cash and cash equivalents, beginning of period130,503 239,203 Cash and cash equivalents, end of period$151,764 $218,795 

The accompanying notes are an integral part of