Company: IMXI
Filing Date: 2025-05-08
Form Type: 10-Q
Source: 0001683695-25-000063
Chunk: 50

Company: International Money Express, Inc.
Filing Date: 2025-05-08
Form: 10-Q
Item: Item 1
Chunk 50
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 software developed and computer equipment acquired to support our digital business expansion initiatives and sending agent network. These increases were partially offset by a decrease of approximately $0.3 million in amortization related to our trade names, developed technology and agent relationships during the three months ended March 31, 2025, as these intangibles are being amortized on an accelerated basis, which declines over time.

Non-Operating Expenses

Interest expense — Interest expense of $2.7 million for the three months ended March 31, 2025 remained flat, from $2.7 million for the three months ended March 31, 2024. 

Income tax provision — Income tax provision was $3.6 million for the three months ended March 31, 2025, which represents a decrease of $1.2 million from an income tax provision of $4.8 million for the three months ended March 31, 2024. The decrease in income tax provision was mainly attributable to a decrease in income before taxes primarily due to the factors discussed above. 

Net Income

We reported Net Income of $7.8 million for the three months ended March 31, 2025 compared to Net Income of $12.1 million for the three months ended March 31, 2024, which resulted in a decrease of $4.3 million, or 35.5%, due to the same factors discussed above. 

Earnings Per Share

Earnings per Share - Basic for the three months ended March 31, 2025 was $0.25, representing a decrease of $0.11, or 30.6%, compared to $0.36 for the three months ended March 31, 2024.

Earnings per Share - Diluted for the three months ended March 31, 2025 was $0.25, representing a decrease of $0.10, or 28.6%, compared to $0.35 for the three months ended March 31, 2024.

The decrease in both basic and diluted EPS largely reflect the decrease in net income discussed above and a reduced share count as a result of the stock repurchases.

Non-GAAP Financial Measures

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We use Adjusted Net Income, Adjusted Earnings per Share and Adjusted EBITDA to evaluate our performance, both internally and as compared with our peers, because these measures exclude certain items that may not be indicative of our core operating results, as well as items that can vary