10-Q - International Money Express, Inc. (0001683695) (Filer)

Fri, Nov 8, 12:33 PM (68 days ago)

International Money Express, Inc. (IMXI) reported its Q3 2024 results with total revenues of $171.9 million, slightly down from $172.4 million in Q3 2023. Wire transfer fees contributed $144.6 million, reflecting a 2% decline due to reduced transaction volume, although foreign exchange gains rose 6% to $24.0 million. Operating income increased to $27.8 million, up from $24.3 million, driven by lower operating expenses, which fell to $144.1 million from $148.2 million. Net income rose to $17.3 million, marking a 16.9% year-over-year increase. Cash flow from operations decreased to $58.0 million, influenced by a $27.7 million change in working capital. The company completed a strategic acquisition in the UK and initiated restructuring efforts, incurring $2.7 million in related costs. Debt levels included $138.2 million drawn from a new $425 million credit facility. Future operations may be impacted by ongoing strategic assessments, including potential sales or other alternatives. The company remains committed to maintaining liquidity and managing risks associated with currency and interest rate fluctuations.