Company: IMXI
Filing Date: 2025-08-11
Form Type: 10-Q
Source: 0001683695-25-000100
Chunk: 166

Company: International Money Express, Inc.
Filing Date: 2025-08-11
Form: 10-Q
Item: Item 2
Chunk 166
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 taxes, and also adjusted to add back certain charges and expenses, such as non-cash share-based compensation costs and other items set forth in the table below, as these charges and expenses are not considered a part of our core business operations and are not an indicator of ongoing, future company performance.

Adjusted EBITDA for the three months ended June 30, 2025 was $28.8 million, representing a decrease of $2.3 million, or 7.4%, from $31.1 million for the three months ended June 30, 2024. The decrease in Adjusted EBITDA was primarily due to the decrease in Net Income discussed above offset by the higher net effect of the adjusting items detailed in the table below.

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The following table presents the reconciliation of Net Income, our closest GAAP measure, to Adjusted EBITDA:

Three Months Ended June 30,(in thousands)20252024Net Income$11,007 $14,033 Adjusted for:Interest expense3,093 3,095 Income tax provision5,361 5,776 Depreciation and amortization4,454 3,371 EBITDA23,915 26,275 Share-based compensation (a)2,133 2,392 Restructuring costs (b)— 2,711 Transaction costs (c)2,224 26 Legal contingency settlement (d)— (570)Other charges and expenses (e)516 218 Adjusted EBITDA$28,788 $31,052 

(a)Represents share-based compensation relating to equity awards granted primarily to employees and independent directors of the Company.

(b)Represents primarily severance, write-off of assets and legal and professional fees related to the execution of restructuring plans.

(c)Represents primarily financial advisory, professional and legal fees related to evaluation of strategic alternatives and business acquisition transactions.

(d)Represents a gain contingency related to a legal settlement.

(e)Represents primarily loss on disposal of fixed assets.

Six Months Ended June 30, 2025 Compared to Six Months Ended June 30, 2024

Revenues

Revenues for the above periods are presented below:

($ in thousands)Six Months Ended June 30, 2025% ofRevenuesSix Months Ended June 30, 2024% ofRevenuesRevenues:Wire transfer and money order fees, net$253,137 83 %$272,758 85