Company: IMXI
Filing Date: 2025-11-10
Form Type: 10-Q
Source: 0001628280-25-051013
Chunk: 65

Company: International Money Express, Inc.
Filing Date: 2025-11-10
Form: 10-Q
Item: Item 1
Chunk 65
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237 11 %Other selling, general and administrative expenses37,475 8 %30,846 6 %Provision for credit losses6,078 1 %5,036 1 %Restructuring costs306 NM2,738 1 %Transaction costs8,746 2 %86 NMDepreciation and amortization12,493 3 %9,981 2 %Total operating expenses$416,293 90 %$423,575 86 %

NM - Amounts round to less than 1%.

Service charges from agents and banks — Service charges from agents and banks were $294.7 million for the nine months ended September 30, 2025 compared to $322.7 million for the nine months ended September 30, 2024. The decrease of $28.0 million, or 8.7%, 

40

was primarily due to the decrease in transaction volume described above, as well as lower payer fees as a result of better pricing negotiated with our paying agents.

Salaries and benefits — Salaries and benefits of $56.5 million for the nine months ended September 30, 2025 increased by $4.3 million, or 8.2%, from $52.2 million for the nine months ended September 30, 2024. The increase is primarily due to the Company's investment in talent acquisition and improved compensation for our sales force and other departments supporting our digital channel services expansion as well as severance payments made in the normal course of business.

Other selling, general and administrative expenses — Other selling, general and administrative expenses of $37.5 million for the nine months ended September 30, 2025 increased by $6.7 million, or 21.8%, from $30.8 million for the nine months ended September 30, 2024.

The increase was primarily the result of: 

•$3.9 million - increase in advertising and marketing related expenses primarily as a result of campaigns to promote our digital channel services;

•$1.0 million - higher IT related expenses incurred to sustain our business expansion and to improve our technology environment; and

•$0.6 million - related to a gain on legal contingency settlement that was recorded in the second quarter of 2024.

Provision for credit losses — Provision for credit losses of $6.1 million for the nine months ended September 30, 2025 increased by $