Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 169

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 2
Chunk 169
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 the second quarter of 2024.

Provision for credit losses — Provision for credit losses of $3.9 million for the six months ended June 30, 2025 increased by $0.5 million, or 14.7%, from $3.4 million for the six months ended June 30, 2024. The increase is primarily due to a higher average balance outstanding of receivable balances from sending agents during the period, and a slight increase in write-offs of receivable balances primarily as a result of sending agents that were not able to pay in accordance with the original terms of their agreements with us and are, accordingly, subject to our normal collection procedures.

Restructuring costs — Restructuring costs of $0.3 million for the six months ended June 30, 2025 decreased by $2.4 million, or 89%, from $2.7 million for the six months ended June 30, 2024. Restructuring costs included primarily severance costs related to the restructuring of La Nacional and our foreign operations. 

Transaction Costs — Transaction costs of $3.4 million for the six 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 alternative and business acquisition transactions. 

Depreciation and amortization — Depreciation and amortization of $8.1 million for the six months ended June 30, 2025 increased by $1.5 million from $6.6 million or 22.7%, for the six 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 $5.8 million for the six months ended June 30, 2025 remained virtually flat, from $5.8 million for the six months ended June 30, 2024. 

Income tax provision — Income tax provision was $9.0 million for the six months ended June 30, 2025, which represents a decrease of $1.6 million from an income tax provision of $10.6 million for the six months ended June 30, 2024. The decrease in income tax provision was mainly attributable to