0001628280-26-015647 | 10-K | XBRL Viewer | International Money Express INC

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INCOME TAXES - Provision (Benefit) for Income Taxes (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Current tax provision:
Federal	$ 5,830	$ 17,086	$ 18,590
State	3,060	7,252	9,050
Foreign	340	560	532
Total Current	9,230	24,898	28,172
Deferred tax benefit:
Federal	3,715	(112)	(1,811)
State	1,239	(305)	(806)
Foreign	245	(31)	(6)
Total deferred	5,199	(448)	(2,623)
Total tax provision	$ 14,429	$ 24,450	$ 25,549

EQUITY (Details) $ in Thousands		12 Months Ended
EQUITY (Details) $ in Thousands	Mar. 12, 2025 USD ($) shares	Dec. 31, 2025 USD ($) shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($)	Aug. 26, 2024 USD ($)	Mar. 03, 2023 USD ($)	Aug. 18, 2021 USD ($)
Debt and Equity Securities, FV-NI [Line Items]
Stock repurchase program, authorized amount						$ 100,000	$ 40,000
Share repurchase program, increase in authorized amount					$ 63,800
Stock repurchased (in shares) \| shares	100,000	1,348,214	3,765,320
Purchase price	$ 1,300	$ 16,334	$ 75,132	$ 66,264
Available for future share repurchases		48,300
A&R Credit Agreement
Debt and Equity Securities, FV-NI [Line Items]
Debt instrument, covenant, restricted payment threshold		$ 30,300
Debt instrument, covenant, restricted payment threshold, percent of EBITDA		25.00%
Debt instrument, covenant, repurchase of common stock threshold		$ 15,000
Maximum \| A&R Credit Agreement
Debt and Equity Securities, FV-NI [Line Items]
Leverage ratio, restricted payments		2.50

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Narrative (Details)	12 Months Ended
	Dec. 31, 2025 USD ($) store businessDay segment	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Significant Accounting Policies [Line Items]
Losses, uninsured amount	$ 0
Losses, uninsured amount on foreign bank accounts	0
Write off from financial institution closure	$ 4,400,000
Accounts receivable, past due, charged off period	90 days
Invoice due from sending agent	5 days
Advertising costs	$ 6,400,000	$ 1,200,000	$ 300,000
Gain (loss) from foreign currency transactions	$ (900,000)	100,000	$ 200,000
Foreign currency transactions, settlement, threshold business days \| businessDay	2
Amount of foreign exchange contracts opened	$ 4,700,000	12,700,000
Unrealized gain, foreign currency transaction	0	0
Wire transfers payable denominated in foreign currencies	20,200,000	23,000,000.0
Prepaid wires denominated in foreign currencies	$ 33,200,000	$ 29,800,000
Number of reportable segments \| segment	1
Number of company-operated stores \| store	118
Other intangibles
Significant Accounting Policies [Line Items]
Intangible assets, useful life (in years)	10 years
Development of Internal Use Computer Software
Significant Accounting Policies [Line Items]
Internal use software, useful life (in years)	5 years
Maximum
Significant Accounting Policies [Line Items]
Number of days recorded upon initiation of wire transfer	5 days
Maximum \| Agent relationships
Significant Accounting Policies [Line Items]
Intangible assets, useful life (in years)	15 years
Maximum \| Trade names
Significant Accounting Policies [Line Items]
Intangible assets, useful life (in years)	15 years
Maximum \| Developed technology
Significant Accounting Policies [Line Items]
Intangible assets, useful life (in years)	15 years
Maximum \| Other intangibles
Significant Accounting Policies [Line Items]
Intangible assets, useful life (in years)	10 years
Maximum \| Development of Internal Use Computer Software
Significant Accounting Policies [Line Items]
Internal use software, useful life (in years)	5 years
Banking, Financial Services, and Retail \| Remittance Volume \| Paying Agent Concentration Risk
Significant Accounting Policies [Line Items]
Largest paying agent by volume, percentage	22.00%	25.00%

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	1 Months Ended	12 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Nov. 30, 2025 USD ($)	Dec. 31, 2025 USD ($) state territory country	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Commitments and Contingencies Disclosure [Abstract]
Gain contingency \| $	$ 3,300	$ 3,286	$ 0	$ 0
Number of states in which entity operates \| state		50
Number of territories in which entity operates \| territory		2
Number of countries in which entity operates \| country		8

BASIS OF PRESENTATION AND BUSINESS	12 Months Ended
BASIS OF PRESENTATION AND BUSINESS	Dec. 31, 2025
Organization, Consolidation and Presentation of Financial Statements [Abstract]
BASIS OF PRESENTATION AND BUSINESS	BASIS OF PRESENTATION AND BUSINESS International Money Express, Inc. (the “Company” or “us” or “we”) operates as a money transmitter between the United States of America (“United States” or “U.S.”), Canada, Spain, Italy and Germany primarily to Mexico, Guatemala and other countries in Latin America, Europe, Africa and Asia through a network of authorized agents located in various unaffiliated retail establishments and 118 Company-operated stores throughout those jurisdictions. Current political, social, economic and market conditions in the United States, including recent economic, trade and immigration enforcement actions taken by the current administration in the U.S., as well as in foreign countries, including those that are destinations for money transfers or in which we currently operate, remain volatile. There is uncertainty as to the economic and financial impact of such conditions. On August 10, 2025, the Company entered into an Agreement and Plan of Merger (the “Merger Agreement”), by and among the Company, The Western Union Company, a Delaware corporation (“Western Union”), and Ivey Merger Sub, Inc., a Delaware corporation and wholly owned subsidiary of Western Union (“Merger Sub”). Pursuant to the Merger Agreement, on the terms and subject to the conditions set forth therein, Merger Sub will merge with and into the Company (the “Merger”), with the Company continuing as the surviving corporation in the Merger and becoming a wholly owned subsidiary of Western Union. The Merger Agreement provides that each share of the Company’s common stock issued and outstanding immediately prior to the effective time of the Merger (subject to limited exceptions, such as treasury shares or shares as to which dissenters’ rights have been properly exercised in accordance with Delaware law) will be cancelled and converted into the right to receive $16.00 per share in cash, without interest. Consummation of the Merger is subject to various remaining customary closing conditions, including: (i) the absence of any judgment by any governmental authority of competent jurisdiction or any applicable law that enjoins, restrains or otherwise makes illegal, prevents or prohibits consummation of the Merger, (ii) the receipt of applicable consents, approvals or other clearances required to be obtained under the Merger Agreement, including with respect to the Company’s or its subsidiaries’ money transmitter licenses, and (iii) other customary closing conditions. In addition, the consummation of the Merger was conditioned upon (i) the expiration or termination of the applicable waiting period under the Hart-Scott-Rodino Antitrust Improvements Act of 1976, as amended (the “HSR Act”), which waiting period expired on October 6, 2025, and (ii) approval of the stockholders of the Company, which approval was received at a special meeting of stockholders of the Company on December 9, 2025. To date, money transmission regulators in 48 applicable U.S. states and territories have provided their approval of or non-objection to the Merger, and approval or non-objection is currently pending with the remaining 4 U.S. states and territories. Additionally, the parties have received approval from the United Kingdom Financial Conduct Authority and, therefore, the only approval from international money transmission regulators that remains pending is from the Bank of Spain. The Company cannot predict with certainty whether and when any of the remaining required closing conditions will be satisfied or if the Merger will close but currently anticipates that the Merger will be consummated in the second quarter of 2026. The accompanying consolidated financial statements of the Company include the accounts of International Money Express, Inc. and other entities in which the Company has a controlling financial interest. All significant inter-company balances and transactions have been eliminated in consolidation. The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”).

LEASES - Lease Payments (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
2026	$ 6,220
2027	4,550
2028	3,094
2029	2,301
2030	2,231
Thereafter	7,575
Total lease payments	25,971
Less: Imputed interest	(4,281)
Present value of lease liabilities	$ 21,690	$ 25,050

GOODWILL AND INTANGIBLE ASSETS - Amortization Expense Related to Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Goodwill and Intangible Assets Disclosure [Abstract]
2026	$ 4,067
2027	3,492
2028	3,010
2029	2,619
2030	2,340
Thereafter	9,876
Net Carrying Value	$ 25,404	$ 26,847

PREPAID EXPENSES AND OTHER ASSETS

12 Months Ended

Dec. 31, 2025

Prepaid Expense and Other Assets [Abstract]

PREPAID EXPENSES AND OTHER ASSETS

Prepaid expenses and other current assets consisted of the following (in thousands):


	December 31,
	2025		2024
Prepaid insurance	$	1,343	$	1,097
Prepaid fees and services	3,057		2,823
Agent incentive advances	2,166		2,494
Agent advances receivable, net of allowance	1,798		2,087
Prepaid marketing expenditures	1,318		502
Prepaid income taxes	8,123		119
Prepaid expenses and other current assets	1,806		1,876
	$	19,611	$	10,998

Other assets consisted of the following (in thousands):


	December 31,
	2025		2024
Revolving credit facility origination fees	$	3,593	$	4,576
Agent incentive advances	1,750		3,702
Agent advances receivable, net of allowance	2,696		2,198
Right-of-use assets, net	15,878		18,511
Funds held by seized banking entities, net of allowance	1,774		1,539
Other assets	2,302		1,672
	$	27,993	$	32,198

During 2021, local banking regulators in Mexico resolved to close and liquidate a local financial institution, citing a lack of compliance with minimum capital requirements. The Company has approximately $6.1 million of exposure from deposits it held with this bank when it was closed. In accordance with the banking regulations in Mexico, large depositors such as the Company will be paid once the assets of the financial institution are liquidated. Currently, it is difficult to predict the length of the liquidation process or if the proceeds from the asset liquidation will be sufficient to recover a portion or all of its funds on deposit. The Company maintains a valuation allowance of approximately $4.4 million as of December 31, 2025, in connection with the balance of deposits held by the financial institution as a result of its closure, which has not materially changed since 2022.

PREPAID EXPENSES AND OTHER ASSETS - Narrative (Details) - MEXICO - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2021
Property, Plant and Equipment [Line Items]
Exposure from deposits		$ 6.1
Write off from financial institution closure, valuation allowance	$ 4.4

- Definition

Amount of currency on hand as well as demand deposits with banks or financial institutions. Includes other kinds of accounts that have the general characteristics of demand deposits. Excludes cash and cash equivalents within disposal group and discontinued operation.

+ References

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+ Details

EQUITY	12 Months Ended
EQUITY	Dec. 31, 2025
Equity [Abstract]
EQUITY	EQUITY On August 18, 2021, the Company’s Board of Directors approved a stock repurchase program that authorizes the Company to purchase up to $40.0 million of outstanding shares of the Company’s common stock which was increased on March 3, 2023 to an additional $100.0 million and on August 26, 2024 to an additional $63.8 million of its outstanding shares (the “Repurchase Program”). Under the Repurchase Program, the Company is authorized to repurchase shares from time to time in accordance with applicable laws, both on the open market and in privately negotiated transactions and may include the use of derivative contracts or structured share repurchase agreements. The timing and amount of repurchases depends on several factors, including market and business conditions, the trading price of the Company’s common stock and the nature of other investment opportunities. The Repurchase Program may be limited, suspended or discontinued at any time without prior notice. The Repurchase Program does not have an expiration date. The Second A&R Credit Agreement permits the Company to make restricted payments (including share repurchases, among others), (i) without limitation so long as the Consolidated Leverage Ratio (as defined in the Second A&R Credit Agreement), as of the then most recently completed four fiscal quarters of the Company, after giving pro forma effect to such restricted payments, is 2.50:1.00 or less, (ii) that do not exceed, in the aggregate during any fiscal year, the greater of (x) $30.3 million and (y) 25.00% of Consolidated EBITDA (as defined in the Second A&R Credit Agreement) for the then most recently completed four fiscal quarters of the Company and (iii) to repurchase Company common stock from current or former employees in an aggregate amount of up to $15.0 million per calendar year. The Company accounts for purchases of treasury stock under the cost method. Any direct costs incurred to acquire treasury stock are considered stock issue costs and added to the cost of the treasury stock. Separately from the Repurchase Program, on March 12, 2025 the Company entered into an agreement with Latin-American Investment Holdings Inc., a related party, for the purchase of 100,000 shares of the Company's common stock for a total purchase price of $1.3 million, in a privately-negotiated transaction. During the years ended December 31, 2025 and 2024, including the shares previously mentioned, the Company purchased 1,348,214 shares and 3,765,320 shares, respectively, for an aggregate purchase price of $16.3 million and $75.1 million, respectively. As of December 31, 2025, there was $48.3 million available for future share repurchases under the Repurchase Program. Effective in June 2025, the Company suspended activity under the Repurchase Program and does not intend to make further repurchases under it during the pendency of the Merger Agreement.

- Definition

The entire disclosure for equity.

+ References

+ Details

SEGMENT REPORTING - Narrative (Details)	12 Months Ended
SEGMENT REPORTING - Narrative (Details)	Dec. 31, 2025 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

LEASES - Lease Expense (Details) - USD ($) $ in Thousands	12 Months Ended
LEASES - Lease Expense (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Leases [Abstract]
Operating lease cost	$ 7,019	$ 7,028	$ 7,848

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET (Tables)

12 Months Ended

Dec. 31, 2025

Payables and Accruals [Abstract]

Summary of Wire Transfer and Money Orders Payable, Net

Wire transfers and money orders payable, net, consisted of the following (in thousands):


	December 31,
	2025		2024
Wire transfers payable, net	$	26,708	$	22,437
Customer voided wires payable	34,298		32,583
Money orders payable	26,534		30,024
	$	87,540	$	85,044

INCOME TAXES (Tables)

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

Schedule of Income before Income Tax, Domestic and Foreign

The components of income (loss) before income taxes are as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Domestic	$	46,258	$	84,676	$	84,170
Foreign	842		(1,405)		894
Income before income taxes	$	47,100	$	83,271	$	85,064

Schedule of Provision (Benefit) for Income Taxes

The provision (benefit) for income taxes consists of the following (in thousands):


	Year Ended December 31,
	2025		2024		2023
Current tax provision:
Federal	$	5,830	$	17,086	$	18,590
State	3,060		7,252		9,050
Foreign	340		560		532
Total Current	9,230		24,898		28,172

Deferred tax benefit:
Federal	3,715		(112)		(1,811)
State	1,239		(305)		(806)
Foreign	245		(31)		(6)
Total deferred	5,199		(448)		(2,623)
Total tax provision	$	14,429	$	24,450	$	25,549

Schedule of Reconciliation Between Income Tax Provision (Benefit) at US Statutory Tax Rate

A reconciliation between the income tax provision at the U.S. statutory tax rate and the Company’s income tax provision on the consolidated statements of income and comprehensive income is below (in thousands):


	Year Ended December 31,
	2025					2024					2023
Income before income taxes	$	47,100				$	83,271				$	85,064
U.S. statutory tax rate	21		%			21		%			21		%
Income tax expense at statutory rate	9,891					17,487					17,863

State and local income taxes, net of federal income tax effect (1)	3,396			7.2	%	5,488			6.6	%	6,513			7.7	%
Foreign tax effects	455			1.0	%	871			1.0	%	480			0.6	%



Non-taxable or Non-deductible items:
Share-based compensation expenses	553			1.2	%	(683)			(0.8)	%	(1,126)			(1.3)	%
Non-deductible officer compensation expenses	487			1.0	%	1,188			1.4	%	1,817			2.1	%
Non-taxable gain contingency	(693)			(1.5)	%	—			—	%	—			—	%
Other Non-deductible expenses	325			0.7	%	87			0.1	%	2			—	%

Other adjustments	15			—	%	12			—	%	—			—	%
Total tax provision	$	14,429		30.6	%	$	24,450		29.4	%	$	25,549		30.0	%

(1) State taxes in Florida, New York, California, and New York City make up the majority (greater than 50 percent) of the effect of this category.

Schedule of Deferred Tax Assets and Liabilities

The following table outlines the principal components of the deferred tax assets and liabilities (in thousands):


	December 31,
	2025		2024
Deferred tax assets:
U.S. federal and state net operating losses	$	2,434	$	2,809
Foreign net operating losses	8,415		7,132
Allowance for credit losses	1,421		1,131
Share-based compensation	1,943		1,280
Accrued compensation	479		642
Deferred revenue	75		848
Transaction costs	3,422		493
Lease liabilities	6,057		6,793
Other	1,139		989
Total deferred tax assets	25,385		22,117

Valuation allowance	(8,042)		(6,537)

Total deferred tax assets, net of valuation allowance	17,343		15,580

Deferred tax liabilities:
Depreciation	(11,892)		(3,542)
Right-of-use assets	(4,426)		(4,967)
Intangible amortization	(6,397)		(7,321)

Total deferred tax liabilities	(22,715)		(15,830)

Net deferred tax liability	$	(5,372)	$	(250)

Schedule of Cash Paid for Income Taxes, Net of Refunds Received

Cash paid for income taxes, net of refunds received, by jurisdiction for the years ended December 31, 2025, 2024, and 2023 is as follows (in thousands):


	Year ended December 31,
	2025		2024		2023
Federal	$	10,662	$	17,050	$	13,665
State:
California	748		1,227		1,198
Florida	1,181		1,978		2,580
New York	2,167		1,297		982
Other States	2,328		3,039		3,078
Foreign	803		—		—
Cash paid for income taxes, net of refunds received	$	17,889	$	24,591	$	21,503

REVENUE - Narrative (Details) $ in Millions	12 Months Ended
REVENUE - Narrative (Details) $ in Millions	Dec. 31, 2025 USD ($) point obligation	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Revenue from Contract with Customer [Abstract]
Initial costs incurred to obtain contracts with customers	$ 0.0	$ 0.0	$ 0.0
Point earned for each wire transfer processed \| point	1
Number of performance obligations \| obligation	1
Money order fees	$ 2.1	$ 2.2	$ 2.2

SEGMENT REPORTING - Schedule of Segment Reporting Information, by Segment (Details) - USD ($) $ in Thousands	1 Months Ended	3 Months Ended	12 Months Ended
	Nov. 30, 2025	Dec. 31, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues			$ 607,776	$ 658,649	$ 658,735
Salaries and benefits			75,036	68,247	70,203
Provision for credit losses			7,916	6,411	4,997
Restructuring costs			742	3,060	1,214
Transaction costs			10,464	1,819	445
Goodwill impairment		$ 1,200	1,209	0	0
Depreciation and amortization			17,161	13,645	12,866
Total operating expenses			552,126	563,633	563,245
Operating income			55,650	95,016	95,490
Gain contingency	$ 3,300		3,286	0	0
Interest expense			11,836	11,745	10,426
Income before income taxes			47,100	83,271	85,064
Total tax provision			14,429	24,450	25,549
Net income			32,671	58,821	59,515
Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues			607,776	658,649	658,735
Agent commissions			255,333	281,157	284,157
Payer commissions			96,543	108,697	110,865
Bank charges and fees			26,573	26,497	25,065
Salaries and benefits			75,036	68,247	70,203
Other segment items			61,149	54,100	53,433
Provision for credit losses			7,916	6,411	4,997
Restructuring costs			742	3,060	1,214
Transaction costs			10,464	1,819	445
Goodwill impairment			1,209	0	0
Depreciation and amortization			17,161	13,645	12,866
Total operating expenses			552,126	563,633	563,245
Operating income			55,650	95,016	95,490
Gain contingency			3,286	0	0
Interest expense			11,836	11,745	10,426
Income before income taxes			47,100	83,271	85,064
Total tax provision			14,429	24,450	25,549
Net income			32,671	58,821	59,515
Wire transfer and money order fees, net
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues			502,155	554,801	561,540
Wire transfer and money order fees, net \| Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues			502,155	554,801	561,540
Foreign exchange gain, net
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues			87,160	88,944	87,908
Foreign exchange gain, net \| Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues			87,160	88,944	87,908
Other income
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues			18,461	14,904	9,287
Other income \| Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues			$ 18,461	$ 14,904	$ 9,287

REVENUE

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

REVENUE

The Company recognized in revenues from contracts with customers, sending agents and others for the years ended December 31, 2025, 2024 and 2023, the following (in thousands):


	December 31,
	2025		2024		2023
Wire transfer and money order fees	$	503,995	$	557,697	$	564,337
Discounts and promotions	(1,840)		(2,896)		(2,797)
Wire transfer and money order fees, net	502,155		554,801		561,540
Foreign exchange gain, net	87,160		88,944		87,908
Other income	18,461		14,904		9,287
Total revenues	$	607,776	$	658,649	$	658,735

There are no significant initial costs incurred to obtain contracts with customers. Until January 31, 2025, the Company had a loyalty program under which customers earned one point for each wire transfer completed. Points were redeemed for a discounted wire transaction fee or a foreign exchange rate that was more favorable to the customer. Because the loyalty program benefits represented a future performance obligation, a portion of the initial consideration was recorded as deferred revenue loyalty program (see Note 11) and a corresponding loyalty program entry was recorded as contra revenue. Revenue from this performance obligation was recognized upon customers redeeming points or upon expiration of any points outstanding. Effective February 1, 2025, the loyalty program was terminated. Under the termination conditions, customers were able to redeem their points by July 31, 2025. Any points not redeemed by that date expired automatically.

Except for the loyalty program discussed above, our revenues include only one performance obligation, which is to collect the customer’s money and make funds available for payment, generally on the same day, to a designated recipient in the currency requested.

The Company also offers several other services, including money orders, and check cashing through its sending agents and Company-operated stores, for which revenue is derived from a fee charged at the time the transaction takes place. For substantially all of the Company’s revenues, the Company acts as principal in the transactions and reports revenue on a gross basis, because the Company controls the service at all times prior to transfer to the customer, is primarily responsible for fulfilling the customer contracts, has the risk of loss and has the ability to establish transaction prices. In addition, we generate revenue from our RaaS relationships with digital partners where we receive a fee for facilitating money transfers processed through our proprietary software systems, using our money transmitter licenses and payer network relationships, which are recognized at the time the transaction is processed. The Company acts primarily as the agent for these transactions.

Wire transfers and money order fees include money order fees of $2.1 million, $2.2 million and $2.2 million for the years ended December 31, 2025, 2024 and 2023, respectively.

- Definition

The entire disclosure of revenue from contract with customer to transfer good or service and to transfer nonfinancial asset. Includes, but is not limited to, disaggregation of revenue, credit loss recognized from contract with customer, judgment and change in judgment related to contract with customer, and asset recognized from cost incurred to obtain or fulfill contract with customer. Excludes insurance and lease contracts.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 7
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147479806/606-10-50-7

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 606
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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-Section 50
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-Subparagraph (a)
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-Subparagraph (b)
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-Section 50
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-Subparagraph (c)
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-Section 50
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-Topic 606
-SubTopic 10
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-Name Accounting Standards Codification
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-URI https://asc.fasb.org/606/tableOfContent

+ Details

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE (Tables)

12 Months Ended

Dec. 31, 2025

Receivables [Abstract]

Summary of Accounts Receivable, Net and Agent Advances Receivable, Net

The outstanding balance of accounts receivable, net of allowance for credit losses, consists of the following (in thousands):


	December 31,
	2025		2024
Accounts receivable	$	110,899	$	110,623
Allowance for credit losses	(5,530)		(3,546)
Accounts receivable, net	$	105,369	$	107,077

The Company had agent advances receivable, net of allowance for credit losses, from sending agents as follows (in thousands):


	December 31,
	2025		2024
Agent advances receivable, current	$	2,001	$	2,260
Allowance for credit losses	(203)		(173)
Net current	$	1,798	$	2,087

Agent advances receivable, long-term	$	2,960	$	2,315
Allowance for credit losses	(264)		(117)
Net long-term	$	2,696	$	2,198

Maturities of Agent Advances Receivable

The maturities of agent advances receivable at December 31, 2025 are as follows (in thousands):


	Outstanding Balance
Under 1 year	$	2,001
Between 1 and 2 years	1,886
Between 2 and 3 years	1,074
Total	$	4,961

Summary of Changes in Allowance for Credit Losses

The changes in the allowance for credit losses related to accounts receivable and agent advances receivable are as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Beginning balance	$	3,836	$	2,794	$	2,648
Provision	7,916		6,411		4,997
Charge-offs	(7,705)		(6,248)		(5,852)
Recoveries	1,597		1,174		987
Other	353		(295)		14
Ending Balance	$	5,997	$	3,836	$	2,794

The allowance for credit losses allocated by financial instrument category is as follows (in thousands):


	December 31,
	2025		2024		2023
Accounts receivable	$	5,530	$	3,546	$	2,610
Agent advances receivable	467		290		184
Allowance for credit losses	$	5,997	$	3,836	$	2,794

DEBT (Tables)

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

Schedule of Debt Instruments

Debt consisted of the following (in thousands):


	December 31,
	2025		2024
Revolving credit facility	$	194,814	$	156,600
Other	11		23



	$	194,825	$	156,623

- Definition

Tabular disclosure of long-debt instruments or arrangements, including identification, terms, features, collateral requirements and other information necessary to a fair presentation. These are debt arrangements that originally required repayment more than twelve months after issuance or greater than the normal operating cycle of the entity, if longer.

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+ Details

INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
INCOME TAXES - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Income Tax Disclosure, Line Items [Line Items]
Accrued interest and penalties	$ 0	$ 0
Uncertain tax positions	0	0
Valuation allowance	8,042	6,537
Increase in valuation allowance	1,500	700
Federal
Income Tax Disclosure, Line Items [Line Items]
Net operating loss carryforwards	10,800
Valuation allowance	0	0
State
Income Tax Disclosure, Line Items [Line Items]
Net operating loss carryforwards	5,500
Valuation allowance	0	0
Foreign
Income Tax Disclosure, Line Items [Line Items]
Net operating loss carryforwards	37,700
Net operating loss carryforwards, indefinite	32,300
Valuation allowance	$ 8,000	$ 6,500

REVENUE (Tables)

12 Months Ended

Dec. 31, 2025

Revenue from Contract with Customer [Abstract]

Revenues from Contracts with Customers

The Company recognized in revenues from contracts with customers, sending agents and others for the years ended December 31, 2025, 2024 and 2023, the following (in thousands):


	December 31,
	2025		2024		2023
Wire transfer and money order fees	$	503,995	$	557,697	$	564,337
Discounts and promotions	(1,840)		(2,896)		(2,797)
Wire transfer and money order fees, net	502,155		554,801		561,540
Foreign exchange gain, net	87,160		88,944		87,908
Other income	18,461		14,904		9,287
Total revenues	$	607,776	$	658,649	$	658,735

DEBT - Schedule of Debt Instruments (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Debt Instrument [Line Items]
Long-term debt, noncurrent	$ 194,825	$ 156,623
Other
Debt Instrument [Line Items]
Long-term debt, gross	11	23
Revolving credit facility \| Line of Credit
Debt Instrument [Line Items]
Long-term debt, gross	$ 194,814	$ 156,600

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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+ Details

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Narrative (Details) - USD ($) $ in Millions	Dec. 31, 2025	Dec. 31, 2024
Receivables [Abstract]
Notes collateralized	$ 5.0	$ 4.6

CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Cash flows from operating activities:
Net income	$ 32,671	$ 58,821	$ 59,515
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	17,161	13,645	12,866
Share-based compensation	9,276	7,043	8,111
Provision for credit losses	7,916	6,411	4,997
Fair value of contingent consideration	0	0	(763)
Debt origination costs amortization	1,024	1,416	1,130
Deferred income tax provision (benefit), net	5,199	(448)	(2,623)
Gain contingency	3,286	0	0
Goodwill impairment	1,209	0	0
Non-cash lease expense	7,019	7,028	7,848
Loss on disposal of property and equipment	1,464	1,592	1,785
Total adjustments	53,554	36,687	33,351
Changes in operating assets and liabilities:
Accounts receivable	(7,053)	41,598	(29,243)
Prepaid wires, net	(7,405)	(24,457)	68,366
Prepaid expenses and other assets	(9,187)	5,693	(6,852)
Lease liabilities	(7,902)	(5,852)	(6,235)
Wire transfers and money orders payable, net	36	(36,280)	3,987
Accounts payable and accrued and other liabilities	(17,827)	(23,125)	20,636
Net cash provided by operating activities	36,887	53,085	143,525
Cash flows from investing activities:
Cash used in business acquisitions, net of cash and cash equivalents acquired	0	(1,249)	(5,477)
Cash used in asset acquisitions	0	(12,000)	0
Purchases of property and equipment	(21,074)	(29,997)	(12,803)
Proceeds from sale of real estate property	407	0	0
Acquisition of agent locations	(1,399)	(700)	0
Net cash used in investing activities	(22,066)	(43,946)	(18,280)
Cash flows from financing activities:
Repayments of term loan facility	0	(75,469)	(5,469)
Borrowings under revolving credit facility	8,084,500	3,019,200	38,000
Repayments of Lines of Credit	(8,046,286)	(2,976,600)	0
Debt origination costs	0	(3,066)	(751)
Proceeds (payments) from exercise of options	46	(669)	1,298
Payments for stock-based awards	(1,079)	(2,468)	(3,934)
Repurchases of common stock	(16,334)	(75,132)	(66,264)
Other financing activities	(52)	0	0
Net cash provided by (used in) financing activities	20,795	(114,204)	(37,120)
Effect of exchange rate changes on cash and cash equivalents	2,563	(3,635)	1,585
Net increase (decrease) in cash and cash equivalents	38,179	(108,700)	89,710
Cash and cash equivalents, beginning of the year	130,503	239,203	149,493
Cash and cash equivalents, end of the year	168,682	130,503	239,203
Supplemental disclosure of cash flow information:
Cash paid for interest	10,809	10,430	9,180
Cash paid for income taxes	17,889	24,591	21,503
Supplemental disclosure of non-cash investing activities:
Lease liabilities arising from obtaining right-of-use assets	2,997	2,413	6,034
Settlement of receivables from agent acquisitions	1,634	0	0
Accrued liabilities related to agent acquisitions	150	0	0
Contingent consideration liability	0	0	600
Settlement of preexisting receivable balance from LAN Holdings against the consideration transferred	0	0	2,534
Supplemental disclosure of non-cash financing activities:
Issuance of common stock for cashless exercise of options	0	4,359	0
Settlement of contingent consideration and acquisition related liabilities	$ 2,001	$ 0	$ 0

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	12 Months Ended
SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Policies)	Dec. 31, 2025
Accounting Policies [Abstract]
Basis of Presentation	All significant inter-company balances and transactions have been eliminated in consolidation. The consolidated financial statements are prepared in accordance with accounting principles generally accepted in the U.S. (“GAAP”).
Use of Estimates	Use of Estimates The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses. Actual results could differ from these estimates.
Earnings per Share	Earnings per Share Basic earnings per share is calculated by dividing net income by the weighted-average number of common shares outstanding for each period. Diluted earnings per share is calculated by dividing net income by the weighted-average number of common shares and common share equivalents outstanding for each period. Diluted earnings per share reflects the potential dilution that could occur if outstanding stock options at the presented dates are exercised and shares of restricted stock units (“RSUs”), restricted stock awards (“RSAs”) and performance stock units (“PSUs”) have vested, using the treasury stock method. Potential common shares are excluded from the computation of diluted earnings per common share when the effect would be anti-dilutive. Treasury stock shares that have been repurchased are not considered outstanding and therefore are excluded from the weighted average number of common shares outstanding calculation.
Cash and Cash equivalents	Cash and Cash equivalents Cash is comprised of deposits in U.S. and foreign banks and cash in hand held at our Company-operated stores. The Company recognizes interest income from its cash deposits on an accrual basis. The Company considers cash equivalents to be short term, highly liquid investments with original maturities of three months or less. Cash equivalents include cash on deposit in overnight deposit accounts.
Concentrations	Concentrations The Company maintains certain of its cash balances in various U.S. banks, which at times, may exceed federally insured limits. The Company has not incurred any losses on these accounts. In addition, the Company maintains various bank accounts in Mexico, Guatemala, Canada, the Dominican Republic, Spain, Italy, Germany and the United Kingdom, which may not be fully insured. During the year ended December 31, 2025, the Company has not incurred any losses on these uninsured foreign bank accounts; however, the Company maintains a $4.4 million reserve on the balance of deposits held as a result of the closure of a financial institution in Mexico in 2021 (see Note 6). Management believes it is not exposed to any significant credit risk regarding these accounts as it performs periodic reviews of the creditworthiness of the financial institutions the Company uses.
Revenue Recognition	Revenue Recognition Revenues for wire transfer and money order fees are recognized at the time the transaction is processed. The Company acts as the principal for these transactions as the Company controls the service at all times prior to transferring the funds to the beneficiary, is primarily responsible for fulfilling the customer contracts, has the risk of loss and has the ability to establish transaction prices. Therefore, these fees are recognized on a gross basis equal to the full amount of the fee charged to the customer. These fees also vary by transaction primarily depending upon, the principal amount sent, the send and receive locations, as well as the respective currencies of the send and receive locations. Foreign exchange gain, net, which represents the difference between the exchange rate set by the Company and the rate realized, is initially recognized when the customer's wire transfer transaction is processed and the purchase of foreign currency is completed. Other income primarily represents revenues for technology services provided to the independent network of agents who utilize the Company’s technology in processing transactions paid by credit or debit card, check cashing services and maintenance fees, for which revenue is derived by a fee per transaction that is recognized when the transactions is processed.
Business Combinations	Business Combinations The Company accounts for its business combinations using the acquisition method, which requires that intangible assets be recognized apart from goodwill if they are contractual in nature or separately identifiable. Acquisitions are measured based on the fair value of consideration transferred and, if the consideration transferred is not cash, measurement is based on the fair value of the consideration transferred or the fair value of the assets acquired, whichever is more reliably measurable. The excess of the consideration transferred over the fair value of identifiable assets acquired and liabilities assumed is allocated to goodwill. The valuation and allocation processes rely on significant assumptions made by management. In certain situations, the allocations of excess purchase price are based upon preliminary estimates and assumptions. Accordingly, the allocations are subject to revision when the Company receives updated information, including valuations and other analyses, which are completed within one year of the acquisition. Revisions to the preliminary fair values, which may be significant, are recorded through goodwill until pending information is finalized, not to exceed one year from the acquisition date. Any revisions to the fair values after they have been finalized will be accounted for as a gain or loss in the consolidated statement of income and comprehensive income. Consideration transferred may consist of potential future payments that are contingent upon the acquired business achieving certain levels of earnings in the future, also referred to as “contingent consideration” or “earn-out.” Earn-out liabilities are measured at their estimated fair value as of the date of acquisition. Changes in the fair value of earn-out liabilities are recorded as a component of operating income in the consolidated statement of income and comprehensive income. Earn-out liabilities are included within accrued current and other liabilities within the consolidated balance sheet. Earn-out payments, to the extent they relate to the estimated earn-out liability as of the date of acquisition, are classified within financing activities in the consolidated statement of cash flows. Earn-out payments in excess of the acquisition date earn-out liability are classified within operating activities. Direct costs incurred in connection with business combination transactions are expensed as incurred and are included as Transaction Costs in the consolidated statements of income and comprehensive income.
Accounts Receivable and Allowance for Credit Losses	Accounts Receivable and Allowance for Credit Losses Accounts receivable and agent advances receivable are recorded at amortized cost, reflecting the amount outstanding, net of an allowance for credit losses. Accounts receivable are recorded upon initiation of the wire transfer and are typically due to the Company within five days. The Company maintains an allowance for credit losses for estimated losses resulting from the inability of its sending agents or digital partners to make required payments. The Company calculates its allowance for credit losses using expected credit loss rates on financial instruments based on the total estimated amount to be collected over the lifetime of the instruments. Expected credit losses for uncollectible receivable balances consider both current conditions and reasonable and supportable forecasts of future conditions. Current conditions include pre-defined aging criteria, as well as specified events that indicate the balance due is not collectible. Reasonable and supportable forecasts used in determining the probability of future collection consider publicly available macroeconomic data and whether future credit losses are expected to differ from historical losses. Accounts receivable that are more than 90 days past due are charged off against the allowance for credit losses. Receivable balances from sending agents and digital partners are usually due to the Company within five days from the invoice date. Any balances not collected after that time are considered past due. The Company is not party to any off-balance sheet arrangements that would require an allowance for credit losses.
Prepaid Wires, Net	Prepaid Wires, Net Prepaid wires, net represents funds provided to certain paying agents in advance of a transaction, net of wires pending to be picked up by the beneficiary of the money transfer.
Prepaid Expenses and Other Assets	Prepaid Expenses and Other Assets Prepaid expenses and other assets consist primarily of right-of-use assets (see Note 8), prepaid expenses for services, tenant allowance, agent advances receivable (see Note 6) and deferred financing costs. Fees earned on agent advances receivable are recognized on a cash basis at the advance origination date.
Wire Transfers Payable, Net	Wire Transfers Payable, Net Wire transfers payable, net represent wires pending to be picked up by the beneficiary of the money transfer net of funds provided to certain paying agents in advance of a transaction.
Leases	Leases The Company is a party to leases for office space, warehouses and Company-operated store locations. The Company determines if a contract contains a lease arrangement at the inception of the contract. For leases in which the Company is the lessee, leases are classified as either finance or operating, with classification affecting the pattern of expense recognition. At commencement date, lease right-of-use (“ROUs”) assets consist of the amount of the initial measurement of the lease liability, any lease payments made to the lessor at or before the commencement date, minus any lease incentive received, and any initial direct costs. If a lease does not provide a discount rate and the rate cannot be readily determined, an incremental borrowing rate is used to determine the present value of future lease payments. Lease and variable non-lease components within the Company’s lease agreements are not accounted for separately. Certain leases contain escalation provisions and/or renewal options, which give the Company the option to extend the lease. However, due to uncertainty surrounding the likelihood of lease renewal these options are not reflected in the calculation of the ROU asset and operating lease liability for a significant portion of our leases.
Property and Equipment	Property and Equipment Property and equipment, including leasehold improvements, are stated at cost, or the allocated fair value in purchase accounting, less accumulated depreciation and amortization. The costs of additions and betterments that substantially extend the useful life of an asset are capitalized and the expenditures for ordinary repairs and maintenance are expensed in the period incurred as part of other selling, general and administrative expenses in the consolidated statements of income and comprehensive income. Land is not depreciated. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized over the lease term or the estimated useful life of the improvement, whichever is shorter. At the time depreciable assets are retired or otherwise disposed, the cost and the related accumulated depreciation of such assets are eliminated from the accounts and any gain or loss is recognized in the current period. The Company capitalizes costs incurred for the development of internal use computer software, which are depreciated over five years using the straight-line method.
Goodwill and Intangible Assets	Goodwill and Intangible Assets Goodwill and intangible assets result primarily from business and asset acquisition transactions. Intangible assets include primarily agent relationships, trade names, developed technology and other intangibles, all with finite lives. Other intangibles primarily relate to the acquisition of certain agent locations and non-competition agreements. Upon the acquisition, the purchase price is first allocated to identifiable assets and liabilities, including trade name and other intangibles, with any remaining purchase price recorded as goodwill. Goodwill is not amortized; however, it is assessed for impairment at least annually, at the beginning of the fourth quarter, or more frequently if triggering events occur. For purposes of the annual assessment, management initially performs a qualitative assessment, which includes consideration of the economic, industry and market conditions in addition to our overall financial performance and the performance of these assets. If our qualitative assessment does not conclude that it is more likely than not that the estimated fair value of the reporting unit is greater than the carrying value, we perform a quantitative analysis. In a quantitative test, the fair value of a reporting unit is determined based on a discounted cash flow analysis. A discounted cash flow analysis requires us to make various assumptions, including assumptions about future cash flows, growth rates and discount rates. The assumptions about future cash flows and growth rates are based on our long-term projections. Assumptions used in our impairment testing are consistent with our internal forecasts and operating plans. If the fair value of the reporting unit exceeds its carrying amount, there is no impairment. If not, we recognize an impairment equal to the difference between the carrying amount of the reporting unit and its fair value, not to exceed the carrying amount of goodwill. The Company’s agent relationships, trade names and developed technology are amortized utilizing an accelerated method over their estimated useful lives of up to 15 years. Other intangible assets are amortized on a straight-line basis over a useful life of up to 10 years. The Company reviews for impairment indicators of finite-lived intangibles and other long-lived assets as described below in “Impairment of Long-Lived Assets.”
Impairment of Long-Lived Assets	Impairment of Long-Lived Assets The Company evaluates long-lived assets, including amortizable intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Upon such an occurrence, recoverability of assets to be held and used is measured by comparing the carrying amount of an asset to forecasted undiscounted future net cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset. For long-lived assets held for sale, assets are written down to fair value, less cost to sell. Fair value is determined based on discounted cash flows, appraised values or management’s estimates, depending upon the nature of the assets.
Debt Origination Costs	Debt Origination Costs The Company incurred debt origination costs related to the Second A&R Credit Agreement (as defined herein), consisting of a revolving credit facility, and amortizes these costs over the life of the related debt using the straight-line method. The unamortized portion of debt origination costs related to deferred up-front commitment fees paid directly to the lender related to the revolving credit facility are recorded within other assets in the consolidated balance sheets. Amortization of debt origination costs is included as a component of interest expense in the consolidated statements of income and comprehensive income.
Advertising Costs	Advertising Costs Advertising costs are included in other selling, general and administrative expenses in the consolidated statements of income and comprehensive income and are expensed as incurred.
Income Taxes	Income Taxes The Company is subject to U.S. federal and various state income and other taxes and our foreign subsidiaries are subject to taxation by local tax authorities. The Company accounts for income taxes in accordance with GAAP which requires, among other things, recognition of future tax benefits measured at enacted rates attributable to deductible temporary differences between financial statement and income tax bases of assets and liabilities and to tax net operating loss carryforwards to the extent that realization of said benefits is more likely than not. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets to the amount which we believe we are more likely than not will be realized based on an assessment of positive and negative evidence. The Company accounts for tax contingencies by assessing all material positions, including all significant uncertain positions, for all tax years that are open to assessment or challenge under tax statutes. Those positions that have only timing consequences are separately analyzed based on the recognition and measurement model provided in the tax guidance. As required by the uncertain tax position guidance, the Company recognizes the financial statement benefit of a position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company is subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. The Company applies the uncertain tax position guidance to all tax positions for which the statute of limitations remains open. The Company’s policy is to classify interest accrued as interest expense and penalties as other selling, general and administrative expenses.
Foreign Currency Translation and Transactions	Foreign Currency Translation and Transactions The financial statements and transactions of the Company’s foreign operations are maintained in their functional currency, which is other than the U.S. dollar. Assets and liabilities are translated at current exchange rates in effect at the balance sheet date. Revenue and expenses are translated at the average exchange rate for each period. Translation adjustments, which result from the process of translating the financial statements of the Company’s foreign operations into U.S. dollars, are recorded as a component of accumulated other comprehensive income (loss). Gains or losses from foreign currency transactions amounted to approximately a loss of $0.9 million, a gain of $0.1 million and a gain of $0.2 million for the years ended December 31, 2025, 2024 and 2023, respectively, and are included in other selling, general and administrative expenses in the consolidated statements of income and comprehensive income. We manage foreign currency risk through the structure of the business and an active risk management process. We currently settle with our payers in Latin America primarily by entering into foreign exchange tom and spot transactions with local and foreign currency providers (“counterparties”). There are no collateral posting requirements for these transactions. The foreign exchange tom and spot transactions are derivatives that are carried at fair value in Prepaid expenses and other current assets or Accrued and other liabilities on the Consolidated Balance Sheets. The foreign currency exposure on our foreign exchange tom and spot transactions is limited by the fact that all transactions are settled within two business days from trade date. Foreign currency fluctuations, however, may negatively affect our average exchange gain per transaction. Changes in fair value are recognized in foreign exchange gain, net on the consolidated statements of income and comprehensive income. We do not elect hedge accounting, but rather use these derivatives for economic hedging purposes.
Comprehensive Income (Loss)	Comprehensive Income (Loss) Comprehensive income (loss) consists of net income (loss) and the net foreign currency translation adjustment and is presented in the consolidated statements of income and comprehensive income.
Share-Based Compensation	Share-Based Compensation The Company accounts for its share-based compensation expense related to equity awards granted to employees, independent directors and service providers based on estimated fair values on the date of grant. We have elected to account for forfeitures as they occur. The Company may use either authorized and unissued shares or treasury shares to meet share issuance requirements.
Segments	Segments The Company’s business is organized around one reportable segment that provides money transmittal services between the U.S., Canada and certain countries in Europe to Mexico, Guatemala and other countries in Latin America, Europe, Africa and Asia through a network of authorized agents located in various unaffiliated retail establishments and 118 Company-operated stores throughout the U.S., Canada, Spain, Italy and Germany, as well as digitally through the Internet via our websites, co-branded websites with digital partners and mobile device applications. This is based on the objectives of the business and how our chief operating decision maker, the CEO and President, monitors operating performance and allocates resources.
Reclassifications	Reclassifications Certain prior year amounts have been reclassified to conform with current year presentation primarily as it relates to disclosure of the provision for credit losses as a separate item in the consolidated statements of income and comprehensive income.
Accounting Pronouncements	Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued guidance, ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which focuses on the rate reconciliation and income taxes paid. This guidance requires a public entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. The new standard was adopted by the Company effective January 1, 2025 on a retrospective basis. The adoption of this ASU did not have any effect on our consolidated balance sheets or statements of income and comprehensive income. The new disclosures under this ASU are described in more detail in Note 17. The FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires more detailed disclosures about specified categories of expenses (including purchases of inventory, employee compensation, intangible asset amortization, and depreciation) included in certain expense captions presented on the face of the statement of income. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026 and interim reporting periods within fiscal years beginning one year later. Early adoption is permitted. The Company is currently evaluating the impact this guidance will have on the consolidated financial statements. The FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. This amendment introduces a practical expedient, under which an entity may elect to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset when developing reasonable and supportable forecasts as part of estimating expected credit losses. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025 and interim reporting periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact this guidance will have on the consolidated financial statements. The FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This amendment simplifies the software capitalization guidance by removing all references to software development project stages so that the guidance is neutral to different software development methods. ASU 2025-06 is effective for fiscal years beginning after December 15, 2027, and interim reporting periods within those fiscal years, with early adoption permitted. The amendments in this update permit an entity to apply the new guidance using a prospective, retrospective or modified transition approach. The Company is currently evaluating the impact this guidance will have on the consolidated financial statements.
Fair Value Measurements	The Company determines fair value in accordance with the provisions of FASB guidance, Fair Value Measurements and Disclosures, which defines fair value as an exit price, representing the amount that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, a three-level fair value hierarchy that prioritizes the inputs used to measure fair value was established. There are three levels of inputs used to measure fair value and for disclosure purposes. Level 1 relates to quoted market prices for identical assets or liabilities in active markets. Level 2 relates to observable inputs other than quoted prices included in Level 1. Level 3 relates to unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company’s non-financial assets measured at fair value on a nonrecurring basis include goodwill and intangible assets. The determination of our intangible fair values is based on a discounted cash flows analysis that includes several assumptions and inputs to measure the economic benefit of these assets over their useful lives, such as the Company’s forecasted revenues, assumed turnover of agent locations, obsolescence assumptions for technology, market discount and royalty rates. These inputs are based on information not observable in the market and represent Level 3 measurements within the fair value hierarchy. The Company's financial assets and liabilities are carried at amortized cost. The Company’s cash and cash equivalents balances are representative of their fair values as these balances are comprised of deposits available on demand or overnight. The carrying amounts of accounts receivable, agent advances receivable, prepaid wires, accounts payable and wire transfers and money orders payable are representative of their fair values because of the short turnover of these instruments. The Company’s financial liabilities include its revolving credit facility. The estimated fair value of the revolving credit facility would approximate book value given the payment schedule and interest rate structure, which approximates current market interest rates.

PREPAID EXPENSES AND OTHER ASSETS (Tables)

12 Months Ended

Dec. 31, 2025

Prepaid Expense and Other Assets [Abstract]

Prepaid Expenses and Other Current Assets

Prepaid expenses and other current assets consisted of the following (in thousands):


	December 31,
	2025		2024
Prepaid insurance	$	1,343	$	1,097
Prepaid fees and services	3,057		2,823
Agent incentive advances	2,166		2,494
Agent advances receivable, net of allowance	1,798		2,087
Prepaid marketing expenditures	1,318		502
Prepaid income taxes	8,123		119
Prepaid expenses and other current assets	1,806		1,876
	$	19,611	$	10,998

Schedule of Other Assets

Other assets consisted of the following (in thousands):


	December 31,
	2025		2024
Revolving credit facility origination fees	$	3,593	$	4,576
Agent incentive advances	1,750		3,702
Agent advances receivable, net of allowance	2,696		2,198
Right-of-use assets, net	15,878		18,511
Funds held by seized banking entities, net of allowance	1,774		1,539
Other assets	2,302		1,672
	$	27,993	$	32,198

DEFINED CONTRIBUTION PLAN (Details) $ in Millions	12 Months Ended
DEFINED CONTRIBUTION PLAN (Details) $ in Millions	Dec. 31, 2025 USD ($) plan	Dec. 31, 2024 USD ($)	Dec. 31, 2023 USD ($)
Defined Contribution Plan Disclosure [Line Items]
Number of defined contribution plans \| plan	2
Selling, General and Administrative Expenses
Defined Contribution Plan Disclosure [Line Items]
Employer contribution expense \| $	$ 0.4	$ 0.4	$ 0.4

- Definition

Amount of contribution received by defined benefit plan from employer which increases plan assets.

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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/exampleRef
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Reference 11: http://www.xbrl.org/2003/role/exampleRef
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-Paragraph 1
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

SHARE-BASED COMPENSATION - Narrative (Details)		3 Months Ended	12 Months Ended
SHARE-BASED COMPENSATION - Narrative (Details)	Jun. 20, 2025 shares	Dec. 31, 2024 USD ($)	Dec. 31, 2025 USD ($) installment shares	Dec. 31, 2024 USD ($) shares	Dec. 31, 2023 USD ($) shares	Jun. 26, 2020 shares
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Unrecognized compensation expense related to options			$ 0
Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options term			10 years
Number of equal installments for options vesting \| installment			4
Vesting period			1 year
Compensation expense			$ 0	$ 100,000	$ 500,000
Stock options \| 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Authorized (in shares) \| shares						3,700,000
Number of shares available for grant (in shares) \| shares			3,400,000
Number of additional shares authorized (in shares) \| shares	2,500,000
Stock options \| 2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares) \| shares			0			400,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			$ 4,900,000	3,300,000	2,900,000
Unrecognized compensation expense			$ 7,200,000
Weighted-average period			1 year 8 months 12 days
Granted (in shares) \| shares			424,132
RSUs \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equal installments for options vesting \| installment			4
Vesting period			1 year
RSUs \| Independent Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			1 year
Share Awards \| 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Compensation expense			$ 0	$ 20,100	$ 80,500
Granted (in shares) \| shares			0	1,803	3,617
RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equal installments for options vesting \| installment			4
Vesting period			1 year
Compensation expense			$ 2,000,000.0	$ 1,900,000	$ 1,200,000
Unrecognized compensation expense			$ 3,500,000
Weighted-average period			1 year 8 months 12 days
Granted (in shares) \| shares			126,755
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Vesting period			3 years
Compensation expense reversal		$ 2,100,000	$ 0
Compensation expense			2,400,000	$ 1,600,000	$ 3,500,000
Unrecognized compensation expense			$ 4,200,000
Weighted-average period			1 year 8 months 12 days
Granted (in shares) \| shares			337,814
Conversion ratio			1
Service period			3 years

CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Revenues:
Total revenues	$ 607,776	$ 658,649	$ 658,735
Operating expenses:
Service charges from agents and banks	388,866	428,968	430,865
Salaries and benefits	75,036	68,247	70,203
Other selling, general and administrative expenses	50,732	41,483	42,655
Provision for credit losses	7,916	6,411	4,997
Restructuring costs	742	3,060	1,214
Transaction costs	10,464	1,819	445
Goodwill impairment	1,209	0	0
Depreciation and amortization	17,161	13,645	12,866
Total operating expenses	552,126	563,633	563,245
Operating income	55,650	95,016	95,490
Gain contingency	3,286	0	0
Interest expense	11,836	11,745	10,426
Income before income taxes	47,100	83,271	85,064
Income tax provision	14,429	24,450	25,549
Net income	32,671	58,821	59,515
Other comprehensive income (loss)	1,550	(1,708)	404
Comprehensive income	$ 34,221	$ 57,113	$ 59,919
Earnings per common share:
Basic (in dollars per share)	$ 1.09	$ 1.81	$ 1.67
Diluted (in dollars per share)	$ 1.08	$ 1.79	$ 1.63
Weighted-average common shares outstanding:
Basic (in shares)	29,938,268	32,430,755	35,604,582
Diluted (in shares)	30,181,194	32,850,497	36,429,714
Wire transfer and money order fees, net
Revenues:
Total revenues	$ 502,155	$ 554,801	$ 561,540
Foreign exchange gain, net
Revenues:
Total revenues	87,160	88,944	87,908
Other income
Revenues:
Total revenues	$ 18,461	$ 14,904	$ 9,287

Cybersecurity Risk Management and Strategy Disclosure	12 Months Ended
Cybersecurity Risk Management and Strategy Disclosure	Dec. 31, 2025
Cybersecurity Risk Management, Strategy, and Governance [Line Items]
Cybersecurity Risk Management Processes for Assessing, Identifying, and Managing Threats [Text Block]	The Company faces risks from cybersecurity incidents that could have a material adverse effect on our business, financial condition, results of operations, cash flows or reputation. Cybersecurity incidents may target and compromise our systems, as well as confidential consumer, employer, and agent information that we store and manage in connection with some of our services. Any cybersecurity incidents affecting our computer networks, databases, third-party services or facilities could lead to potential interruptions of our operations or our ability to manage and report our operating results. Cybersecurity incidents may also result in the inappropriate use or disclosure of personal information, which could adversely affect consumers’ confidence in our or our agents’ or digital partners' business and expose us to liabilities. As a result, we are required to expend significant capital and other resources to protect us against these security breaches or to alleviate problems caused by these breaches. Intermex has experienced, and may continue to experience, cybersecurity threats in the normal course of its business. To date, however, these events have not had a material adverse effect on the Company’s business, financial condition, results of operations, cash flows or reputation. See Item 1A. Risk Factors for additional information on how risks could materially affect the Company. To mitigate cybersecurity risks, the Company has designed and implemented a Cybersecurity and Information Security Program (“Cybersecurity Program”), which is managed and executed by our Chief Information Officer (“CIO”). Our CIO has over 20 years of experience in information technology and cybersecurity primarily focused in the financial services industry. Our CIO is an experienced professional in technology, security, risk management, and compliance principles related to most United States and global financial services related regulations. Also, our CIO holds and maintains an active Certified Information Systems Security Professional certification as well as other relevant technical certifications. The Board of Directors of the Company (the “Board”) generally oversees management’s processes for identifying and mitigating risks we are exposed to, including cybersecurity risks, to help align our risk exposure with our strategic objectives, and has delegated specific oversight of cybersecurity risk management to the Board’s Audit Committee. At least on a quarterly basis, or more frequently as may be warranted, the Board and the Audit Committee are apprised of cybersecurity incidents, if any, and initiatives related to any identified heightened risks. In addition, the CIO provides a comprehensive annual report on cybersecurity as well as quarterly updates to the Audit Committee, the Board and Internal Technology Steering Committee (“IT Steering Committee”), which is composed of members from our Executive Management team and key Information Technology (“IT”) personnel. The foundation of our Cybersecurity Program is based on recognized best practices and standards for cybersecurity and information technology that include the Center of Internet Security (“CIS”) Controls Framework. The CIS Critical Security Controls Framework is a prioritized set of safeguards to mitigate the most prevalent cyber-attacks against systems and networks. They are mapped to and referenced by multiple legal, regulatory, and policy frameworks. This framework is employed to guide cybersecurity investments similar to third party audits and risk assessments. Our Cybersecurity Program employs a practical risk-based approach with a focus on addressing risk factors with the highest possible impact, high levels of likelihood, and least amount of existing compensating controls. Key risk factors, along with action plans and a status of identified matters are communicated to Executive Management, the Audit Committee and the Board as part of the CIO's quarterly updates. We have created and continually update, as required, a detailed cybersecurity incident response plan, which outlines the steps to be followed from incident detection to eradication, recovery and notification and which we will implement in the event of a cybersecurity incident, including the determination of materiality of cybersecurity incidents to ensure accurate and timely disclosures of those events in accordance with current regulatory requirements. The Company engages a third party to perform an annual cybersecurity audit, which attests compliance with our Cybersecurity Program and industry best practices. The results of the third-party audit and internal vulnerability reviews are used by the CIO to guide investments in cybersecurity capabilities, solutions, and services to reduce the Company's exposure to cybersecurity risks. To aid managing, prioritizing and remediating any identified cybersecurity, software engineering, and IT infrastructure risks, the Company has implemented a risk register. The risk register is maintained by the Technology Audit & Compliance Department and the status of remediation efforts is communicated to management during the quarterly meetings of the IT Steering Committee. Any significant, control failure, weakness or cybersecurity incident is reported by the CIO to the Company's incident response team and prioritized for remediation in accordance with our cybersecurity incident response plan. In addition to the third-party audit, we perform ongoing vulnerability reviews and conduct annual penetration testing of certain external and internal systems based on selected criteria as determined by Management in conjunction with external consultants. These tests are conducted by qualified external consultants and all findings are reported to the CIO and any deficiency is tracked until it has been fully remediated. A risk assessment is conducted regularly based on NIST and CIS frameworks to determine gaps in controls that exposes the Company to a risk level that requires mitigation efforts. The Company requires in depth security monitoring continuous and real-time, detection of, and responses to cybersecurity threats and has partnered with industry leading managed service providers to accomplish this objective. Our cybersecurity partners maintain continuous security operations centers, threat intelligence, response capabilities, and incident response services. These services are tested for effectiveness annually as part of the internal penetration testing process. As mentioned above, the Company has implemented an incident response plan and incident response team that meets at least annually to assess breach scenarios and improve our response capabilities. All findings from testing, vulnerability analysis, breach scenarios, and event detection are reported quarterly by the CIO to the IT Steering Committee and Audit Committee.
Cybersecurity Risk Management Processes Integrated [Flag]	true
Cybersecurity Risk Management Processes Integrated [Text Block]	The foundation of our Cybersecurity Program is based on recognized best practices and standards for cybersecurity and information technology that include the Center of Internet Security (“CIS”) Controls Framework. The CIS Critical Security Controls Framework is a prioritized set of safeguards to mitigate the most prevalent cyber-attacks against systems and networks. They are mapped to and referenced by multiple legal, regulatory, and policy frameworks. This framework is employed to guide cybersecurity investments similar to third party audits and risk assessments. Our Cybersecurity Program employs a practical risk-based approach with a focus on addressing risk factors with the highest possible impact, high levels of likelihood, and least amount of existing compensating controls. Key risk factors, along with action plans and a status of identified matters are communicated to Executive Management, the Audit Committee and the Board as part of the CIO's quarterly updates. We have created and continually update, as required, a detailed cybersecurity incident response plan, which outlines the steps to be followed from incident detection to eradication, recovery and notification and which we will implement in the event of a cybersecurity incident, including the determination of materiality of cybersecurity incidents to ensure accurate and timely disclosures of those events in accordance with current regulatory requirements.
Cybersecurity Risk Management Third Party Engaged [Flag]	true
Cybersecurity Risk Third Party Oversight and Identification Processes [Flag]	true
Cybersecurity Risk Materially Affected or Reasonably Likely to Materially Affect Registrant [Flag]	false
Cybersecurity Risk Board of Directors Oversight [Text Block]	The Board of Directors of the Company (the “Board”) generally oversees management’s processes for identifying and mitigating risks we are exposed to, including cybersecurity risks, to help align our risk exposure with our strategic objectives, and has delegated specific oversight of cybersecurity risk management to the Board’s Audit Committee. At least on a quarterly basis, or more frequently as may be warranted, the Board and the Audit Committee are apprised of cybersecurity incidents, if any, and initiatives related to any identified heightened risks. In addition, the CIO provides a comprehensive annual report on cybersecurity as well as quarterly updates to the Audit Committee, the Board and Internal Technology Steering Committee (“IT Steering Committee”), which is composed of members from our Executive Management team and key Information Technology (“IT”) personnel.
Cybersecurity Risk Board Committee or Subcommittee Responsible for Oversight [Text Block]	To mitigate cybersecurity risks, the Company has designed and implemented a Cybersecurity and Information Security Program (“Cybersecurity Program”), which is managed and executed by our Chief Information Officer (“CIO”).
Cybersecurity Risk Process for Informing Board Committee or Subcommittee Responsible for Oversight [Text Block]	At least on a quarterly basis, or more frequently as may be warranted, the Board and the Audit Committee are apprised of cybersecurity incidents, if any, and initiatives related to any identified heightened risks. In addition, the CIO provides a comprehensive annual report on cybersecurity as well as quarterly updates to the Audit Committee, the Board and Internal Technology Steering Committee (“IT Steering Committee”), which is composed of members from our Executive Management team and key Information Technology (“IT”) personnel.
Cybersecurity Risk Role of Management [Text Block]	To mitigate cybersecurity risks, the Company has designed and implemented a Cybersecurity and Information Security Program (“Cybersecurity Program”), which is managed and executed by our Chief Information Officer (“CIO”). Our CIO has over 20 years of experience in information technology and cybersecurity primarily focused in the financial services industry. Our CIO is an experienced professional in technology, security, risk management, and compliance principles related to most United States and global financial services related regulations. Also, our CIO holds and maintains an active Certified Information Systems Security Professional certification as well as other relevant technical certifications. The Board of Directors of the Company (the “Board”) generally oversees management’s processes for identifying and mitigating risks we are exposed to, including cybersecurity risks, to help align our risk exposure with our strategic objectives, and has delegated specific oversight of cybersecurity risk management to the Board’s Audit Committee. At least on a quarterly basis, or more frequently as may be warranted, the Board and the Audit Committee are apprised of cybersecurity incidents, if any, and initiatives related to any identified heightened risks. In addition, the CIO provides a comprehensive annual report on cybersecurity as well as quarterly updates to the Audit Committee, the Board and Internal Technology Steering Committee (“IT Steering Committee”), which is composed of members from our Executive Management team and key Information Technology (“IT”) personnel. The foundation of our Cybersecurity Program is based on recognized best practices and standards for cybersecurity and information technology that include the Center of Internet Security (“CIS”) Controls Framework. The CIS Critical Security Controls Framework is a prioritized set of safeguards to mitigate the most prevalent cyber-attacks against systems and networks. They are mapped to and referenced by multiple legal, regulatory, and policy frameworks. This framework is employed to guide cybersecurity investments similar to third party audits and risk assessments. Our Cybersecurity Program employs a practical risk-based approach with a focus on addressing risk factors with the highest possible impact, high levels of likelihood, and least amount of existing compensating controls. Key risk factors, along with action plans and a status of identified matters are communicated to Executive Management, the Audit Committee and the Board as part of the CIO's quarterly updates. We have created and continually update, as required, a detailed cybersecurity incident response plan, which outlines the steps to be followed from incident detection to eradication, recovery and notification and which we will implement in the event of a cybersecurity incident, including the determination of materiality of cybersecurity incidents to ensure accurate and timely disclosures of those events in accordance with current regulatory requirements.
Cybersecurity Risk Management Positions or Committees Responsible [Flag]	true
Cybersecurity Risk Management Positions or Committees Responsible [Text Block]	To mitigate cybersecurity risks, the Company has designed and implemented a Cybersecurity and Information Security Program (“Cybersecurity Program”), which is managed and executed by our Chief Information Officer (“CIO”)
Cybersecurity Risk Management Expertise of Management Responsible [Text Block]	Our CIO has over 20 years of experience in information technology and cybersecurity primarily focused in the financial services industry. Our CIO is an experienced professional in technology, security, risk management, and compliance principles related to most United States and global financial services related regulations. Also, our CIO holds and maintains an active Certified Information Systems Security Professional certification as well as other relevant technical certifications.
Cybersecurity Risk Process for Informing Management or Committees Responsible [Text Block]	In addition to the third-party audit, we perform ongoing vulnerability reviews and conduct annual penetration testing of certain external and internal systems based on selected criteria as determined by Management in conjunction with external consultants. These tests are conducted by qualified external consultants and all findings are reported to the CIO and any deficiency is tracked until it has been fully remediated. A risk assessment is conducted regularly based on NIST and CIS frameworks to determine gaps in controls that exposes the Company to a risk level that requires mitigation efforts. The Company requires in depth security monitoring continuous and real-time, detection of, and responses to cybersecurity threats and has partnered with industry leading managed service providers to accomplish this objective. Our cybersecurity partners maintain continuous security operations centers, threat intelligence, response capabilities, and incident response services. These services are tested for effectiveness annually as part of the internal penetration testing process. As mentioned above, the Company has implemented an incident response plan and incident response team that meets at least annually to assess breach scenarios and improve our response capabilities. All findings from testing, vulnerability analysis, breach scenarios, and event detection are reported quarterly by the CIO to the IT Steering Committee and Audit Committee.
Cybersecurity Risk Management Positions or Committees Responsible Report to Board [Flag]	true

SHARE-BASED COMPENSATION - RSU, RSA, and PSU Activity (Details) - USD ($) $ / shares in Units, $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
RSUs
Number of Awards
Nonvested, beginning balance (in shares)	432,316
Granted (in shares)	424,132
Vested (in shares)	(197,946)
Forfeited (in shares)	(66,964)
Nonvested, ending balance (in shares)	591,538	432,316
Weighted-Average Grant Price
Nonvested, beginning balance (in dollars per share)	$ 20.71
Granted (in dollars per share)	14.16
Vested (in dollars per share)	20.01
Forfeited (in dollars per share)	17.09
Nonvested, ending balance (in dollars per share)	$ 17.17	$ 20.71
Aggregate fair value of awards granted	$ 6.0
RSAs
Number of Awards
Nonvested, beginning balance (in shares)	227,518
Granted (in shares)	126,755
Vested (in shares)	(97,104)
Forfeited (in shares)	0
Nonvested, ending balance (in shares)	257,169	227,518
Weighted-Average Grant Price
Nonvested, beginning balance (in dollars per share)	$ 20.65
Granted (in dollars per share)	18.19
Vested (in dollars per share)	18.83
Forfeited (in dollars per share)	0
Nonvested, ending balance (in dollars per share)	$ 20.12	$ 20.65
Aggregate fair value of awards granted	$ 2.3
PSUs
Number of Awards
Nonvested, beginning balance (in shares)	321,530
Granted (in shares)	337,814
Vested (in shares)	(14,451)
Forfeited (in shares)	(137,951)
Nonvested, ending balance (in shares)	506,942	321,530
Weighted-Average Grant Price
Nonvested, beginning balance (in dollars per share)	$ 21.88
Granted (in dollars per share)	12.11
Vested (in dollars per share)	12.11
Forfeited (in dollars per share)	25.38
Nonvested, ending balance (in dollars per share)	$ 14.70	$ 21.88
Weighted-Average Remaining Contractual Term (Years)	8 years 6 months 21 days	8 years 9 months 7 days
Aggregate fair value of awards granted	$ 4.1

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET

12 Months Ended

Dec. 31, 2025

Payables and Accruals [Abstract]

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET

Wire transfers and money orders payable, net, consisted of the following (in thousands):


	December 31,
	2025		2024
Wire transfers payable, net	$	26,708	$	22,437
Customer voided wires payable	34,298		32,583
Money orders payable	26,534		30,024
	$	87,540	$	85,044

Customer voided wires payable consist primarily of wire transfers that were not completed because the recipient did not collect the funds within 30 days and the sender has not claimed the funds and, therefore, are considered unclaimed property. Unclaimed property laws of each state in the United States in which we operate, the District of Columbia, and Puerto Rico require us to track certain information for all of our money remittances and payment instruments and, if the funds underlying such remittances and instruments are unclaimed at the end of an applicable statutory abandonment period, require us to remit the proceeds of the unclaimed property to the appropriate jurisdiction. Applicable statutory abandonment periods range from three to seven years.

LEASES - Narrative (Details)	Dec. 31, 2025	Dec. 31, 2024
Leases [Abstract]
Operating lease, weighted average remaining lease terms	6 years 2 months 12 days	6 years 7 months 6 days
Operating lease, weighted average discount rate (percent)	6.48%	6.31%

BASIS OF PRESENTATION AND BUSINESS (Details)	Dec. 31, 2025 store	Aug. 10, 2025 $ / shares
Organization, Consolidation and Presentation of Financial Statements [Abstract]
Number of company-operated stores \| store	118
Merger Agreement
Business Combination [Line Items]
Merger, price per share (in dollars per share) \| $ / shares		$ 16.00

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

+ References

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Reference 36: http://www.xbrl.org/2003/role/disclosureRef
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Reference 37: http://www.xbrl.org/2009/role/commonPracticeRef
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Reference 38: http://www.xbrl.org/2003/role/disclosureRef
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Reference 39: http://www.xbrl.org/2003/role/disclosureRef
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Reference 42: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

+ Details

SEGMENT REPORTING (Tables)

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

Schedule of Segment Reporting Information, by Segment

The table below provides information about the Company's measure of segment performance and significant expense categories:


	Year Ended December 31,
	2025		2024		2023
Revenues:
Wire transfer and money order fees, net	$	502,155	$	554,801	$	561,540
Foreign exchange gain, net	87,160		88,944		87,908
Other income	18,461		14,904		9,287
Total revenues	607,776		658,649		658,735

Less:
Agent commissions	255,333		281,157		284,157
Payer commissions	96,543		108,697		110,865
Bank charges and fees	26,573		26,497		25,065
Salaries and benefits	75,036		68,247		70,203
Other segment items (1)	61,149		54,100		53,433
Provision for credit losses	7,916		6,411		4,997
Restructuring costs	742		3,060		1,214
Transaction costs	10,464		1,819		445
Goodwill impairment	1,209		—		—
Depreciation and amortization	17,161		13,645		12,866
Total operating expenses	552,126		563,633		563,245

Operating income	55,650		95,016		95,490

Gain contingency	3,286		—		—

Interest expense	11,836		11,745		10,426

Income before income taxes	47,100		83,271		85,064

Income tax provision	14,429		24,450		25,549

Net income	$	32,671	$	58,821	$	59,515

(1) Other segment items included in Segment net income is primarily composed of other selling, general and administrative expenses, transaction processing costs, and other overhead expenses.

CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Current assets:
Cash and cash equivalents	$ 168,682	$ 130,503
Accounts receivable, net of allowance of $$5,530 and $$3,546, respectively	105,369	107,077
Prepaid wires, net	59,497	49,205
Prepaid expenses and other current assets	19,611	10,998
Total current assets	353,159	297,783
Property and equipment, net	57,149	50,354
Goodwill	53,986	55,195
Intangible assets, net	25,404	26,847
Other assets	27,993	32,198
Total assets	517,691	462,377
Current liabilities:
Accounts payable	15,317	19,520
Wire transfers and money orders payable, net	87,540	85,044
Accrued and other liabilities	38,100	47,434
Total current liabilities	140,957	151,998
Long-term liabilities:
Debt, net	194,825	156,623
Lease liabilities, net	15,483	18,582
Deferred tax liability, net	5,372	250
Total long-term liabilities	215,680	175,455
Commitments and contingencies, see Note 19
Stockholders’ equity:
Preferred stock $0.0001 par value; 5,000,000 shares authorized, none issued or outstanding	0	0
Common stock $0.0001 par value; 200,000,000 shares authorized, 40,682,683 and 40,164,056 shares issued and 29,719,115 and 30,548,702 shares outstanding as of December 31, 2025 and 2024, respectively	4	4
Additional paid-in capital	87,835	79,592
Retained earnings	290,141	257,470
Accumulated other comprehensive income (loss)	104	(1,446)
Treasury stock, at cost; 10,963,568 and 9,615,354 shares as of December 31, 2025 and 2024, respectively	(217,030)	(200,696)
Total stockholders’ equity	161,054	134,924
Total liabilities and stockholders’ equity	$ 517,691	$ 462,377

ACCRUED AND OTHER LIABILITIES

12 Months Ended

Dec. 31, 2025

Payables and Accruals [Abstract]

ACCRUED AND OTHER LIABILITIES

Accrued and other liabilities consisted of the following (in thousands):


	December 31,
	2025		2024
Commissions payable to sending agents	$	16,381	$	18,080
Accrued salaries and benefits	3,785		5,581
Accrued bank charges	3,225		1,839
Lease liability, current portion	6,207		6,468
Accrued professional fees	2,156		1,092
Accrued taxes	1,940		2,965
Deferred revenue loyalty program	—		2,692
Contingent consideration liability	—		1,158
Acquisition related liabilities	150		1,244
Accrued transaction costs	84		1,600
Other	4,172		4,715
	$	38,100	$	47,434

The following table shows the changes in the deferred revenue loyalty program liability (in thousands):


Balance, December 31, 2022	$	4,212
Revenue deferred during the year	3,230
Revenue recognized during the year	(2,671)
Balance, December 31, 2023	4,771
Revenue deferred during the year	2,783
Revenue recognized during the year	(4,862)
Balance, December 31, 2024	2,692
Revenue deferred during the year	141
Revenue recognized during the year	(2,833)
Balance, December 31, 2025	$	—

DEFINED CONTRIBUTION PLAN	12 Months Ended
DEFINED CONTRIBUTION PLAN	Dec. 31, 2025
Retirement Benefits [Abstract]
DEFINED CONTRIBUTION PLAN	DEFINED CONTRIBUTION PLANS The Company has two defined contribution plans available to most of its employees, where the Company makes contributions to the plans based on employee contributions. Total employer contribution expense included in salaries and benefits in the consolidated statements of income and comprehensive income was approximately $0.4 million for the years ended December 31, 2025, 2024 and 2023, respectively.

- Definition

The entire disclosure for retirement benefits.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
-SubTopic 20
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (o)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480266/715-60-50-3

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 715
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-Name Accounting Standards Codification
-Section S99
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480126/715-20-S99-2

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480794/715-70-50-1

Reference 7: http://www.xbrl.org/2003/role/exampleRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480482/715-20-55-17

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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Reference 12: http://www.xbrl.org/2003/role/disclosureRef
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Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (r)(2)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480506/715-20-50-1

+ Details

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE

12 Months Ended

Dec. 31, 2025

Receivables [Abstract]

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE

Accounts Receivable

Accounts receivable represents primarily outstanding balances from sending agents for pending wire transfers or money orders from our customers. The outstanding balance of accounts receivable, net of allowance for credit losses, consists of the following (in thousands):


	December 31,
	2025		2024
Accounts receivable	$	110,899	$	110,623
Allowance for credit losses	(5,530)		(3,546)
Accounts receivable, net	$	105,369	$	107,077

Agent Advances Receivable

The Company had agent advances receivable, net of allowance for credit losses, from sending agents as follows (in thousands):


	December 31,
	2025		2024
Agent advances receivable, current	$	2,001	$	2,260
Allowance for credit losses	(203)		(173)
Net current	$	1,798	$	2,087

Agent advances receivable, long-term	$	2,960	$	2,315
Allowance for credit losses	(264)		(117)
Net long-term	$	2,696	$	2,198

The net current portion of agent advances receivable is included in prepaid expenses and other current assets (see Note 6), and the net long-term portion is included in other assets (see Note 6) in the consolidated balance sheets. At December 31, 2025 and 2024, there were $5.0 million and $4.6 million, respectively, of agent advances receivable collateralized by personal guarantees from the sending agents and assets from their businesses in case of a default by the agent.

The maturities of agent advances receivable at December 31, 2025 are as follows (in thousands):


	Outstanding Balance
Under 1 year	$	2,001
Between 1 and 2 years	1,886
Between 2 and 3 years	1,074
Total	$	4,961

Allowance for Credit Losses

The changes in the allowance for credit losses related to accounts receivable and agent advances receivable are as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Beginning balance	$	3,836	$	2,794	$	2,648
Provision	7,916		6,411		4,997
Charge-offs	(7,705)		(6,248)		(5,852)
Recoveries	1,597		1,174		987
Other	353		(295)		14
Ending Balance	$	5,997	$	3,836	$	2,794

The allowance for credit losses allocated by financial instrument category is as follows (in thousands):


	December 31,
	2025		2024		2023
Accounts receivable	$	5,530	$	3,546	$	2,610
Agent advances receivable	467		290		184
Allowance for credit losses	$	5,997	$	3,836	$	2,794

EARNINGS PER SHARE - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
	Mar. 12, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Stock repurchased (in shares)	100,000	1,348,214	3,765,320
Aggregate purchase price of stock repurchased	$ 1,300	$ 16,334	$ 75,132	$ 66,264
Stock repurchase program, decrease in weighted average shares outstanding (in shares)		916,155	1,775,956
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted earnings per share (in shares)		30,000.0
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted earnings per share (in shares)		206,300	241,100	144,200
RSAs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted earnings per share (in shares)		159,500	113,000.0	58,400
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted earnings per share (in shares)				136,900

SHARE-BASED COMPENSATION

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

SHARE-BASED COMPENSATION

International Money Express, Inc. Omnibus Equity Compensation Plans

The International Money Express, Inc. 2020 Omnibus Equity Compensation Plan, as amended (the “2020 Plan”) provided for the granting of stock-based incentive awards, including stock options, restricted stock units (“RSUs”), restricted stock awards (“RSAs”) and performance stock units (“PSUs”) to employees, certain service providers and independent directors of the Company. There were 3.7 million shares of the Company’s common stock approved for issuance under the 2020 Plan, which included 0.4 million shares that were previously subject to awards granted under the International Money Express, Inc. 2018 Omnibus Equity Compensation Plan (the “2018 Plan”). Although awards remain outstanding under the 2018 Plan, which was terminated effective June 26, 2020, no additional awards were granted under the 2018 Plan.

On June 20, 2025, the Company’s stockholders approved the Amended and Restated International Money Express, Inc. 2020 Omnibus Equity Compensation Plan (the “A&R 2020 Plan” and together with the 2018 Plan, the “Plans”), which amends and restates the 2020 Plan. The A&R 2020 Plan increased the number of shares of common stock authorized for issuance under the 2020 Plan by an additional 2.5 million shares. As of December 31, 2025, 3.4 million shares remained available for grant of future awards under the A&R 2020 Plan.

Stock Options

The value of each option grant is estimated on the grant date using the Black-Scholes option pricing model (“BSM”). The option pricing model requires the input of certain assumptions, including the grant date fair value of our common stock, expected volatility, risk-free interest rates, expected term and expected dividend yield. To determine the grant date fair value of the Company’s common stock, we use the closing market price of our common stock at the grant date. We also use an expected volatility based on the historical volatility of the Company’s common stock and the “simplified” method for calculating the expected life of our stock options as the options are “plain

vanilla” and we do not have any significant historical post-vesting activity. We have elected to account for forfeitures as they occur. The risk-free interest rates are obtained from publicly available U.S. Treasury yield curve rates.

Share-based compensation is recognized as an expense on a straight-line basis over the requisite service period, which is generally the vesting period. The stock options issued under the Plans have 10-year terms and generally vest in four equal annual installments beginning one year after the date of the grant. The Company recognized compensation expense for stock options of approximately $0.1 million, and $0.5 million for the years ended December 31, 2024 and 2023 (none for the year ended December 31, 2025), respectively, which is included in salaries and benefits in the consolidated statements of income and comprehensive income. As of December 31, 2025, there is no unrecognized compensation expense related to stock options.

A summary of the stock option activity during the year ended December 31, 2025 is presented below:


	Number of Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)	Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2024	151,125	$	12.13	4.36	$	4.35
Granted	—	$	—		$	—
Exercised(1)	(5,000)	$	9.91		$	3.32
Forfeited	—	$	—		$	—
Expired	—	$	—		$	—
Outstanding at December 31, 2025	146,125	$	12.21	3.38	$	4.38

Exercisable at December 31, 2025(2)	146,125	$	12.21	3.38	$	4.38

(1) The aggregate intrinsic value of stock options exercised during the years ended December 31, 2025, 2024 and 2023 was $22.5 thousand, $4.0 million, and $1.3 million respectively.

(2) The aggregate fair value of all vested/exercisable options outstanding as of December 31, 2025 was $0.6 million, which was determined based on the market value of our stock as of that date.

Restricted Stock Units

The RSUs granted under the A&R 2020 Plan to the Company’s employees or certain service providers generally vest in four equal annual installments beginning one year after the date of the grant, while RSUs issued to the Company’s independent directors vest on or around the one-year anniversary from the grant date (or, if earlier, upon the consummation of a change in control). The Company recognized compensation expense for all RSUs of approximately $4.9 million, $3.3 million and $2.9 million for the years ended December 31, 2025, 2024 and 2023, respectively, which is included in salaries and benefits in the consolidated statements of income and comprehensive income. As of December 31, 2025, unrecognized compensation expense of approximately $7.2 million is expected to be recognized over a weighted-average period of 1.7 years.

A summary of the RSU grant activity during the year ended December 31, 2025 is presented below:


	Number of RSUs	Weighted-Average Grant Price
Outstanding (nonvested) at December 31, 2024	432,316	$	20.71
Granted(1)	424,132	$	14.16
Vested	(197,946)	$	20.01
Forfeited	(66,964)	$	17.09
Outstanding (nonvested) at December 31, 2025	591,538	$	17.17

(1) The aggregate fair value of all RSUs granted during the year ended December 31, 2025 was approximately $6.0 million, which was determined based on the market value of our stock as of that date.

Share Awards

During the years ended December 31, 2024 and 2023, 1,803 and 3,617 fully vested shares (none in 2025), respectively, were granted to the Lead Independent Director and Chairs of the Committees of the Board of Directors. Compensation expense related to the fully vested share awards of $20.1 thousand and $80.5 thousand for the years ended December 31, 2024 and 2023 (none in 2025), respectively, was recorded and included in salaries and benefits in the consolidated statements of income and comprehensive income. Effective in the second quarter

of 2024, the grant of share awards to certain of the Company's independent directors was replaced with the grant of RSAs as described below.

Restricted Stock Awards

The RSAs issued under the A&R 2020 Plan to the Company’s employees generally vest in four equal annual installments beginning one year after the date of grant while RSAs issued to certain of the Company’s independent directors vest at the end of the three-month calendar quarter in which the grant is made (or, if earlier, upon the consummation of a change in control). The Company recognized compensation expense for RSAs granted of $2.0 million, $1.9 million and $1.2 million for the years ended December 31, 2025, 2024 and 2023, respectively, which is included in salaries and benefits in the consolidated statements of income and comprehensive income. As of December 31, 2025, there was $3.5 million of unrecognized compensation expense related to RSAs, which is expected to be recognized over a weighted-average period of 1.7 years.

A summary of the RSA activity during the year ended December 31, 2025 is presented below:


	Number of RSAs	Weighted-Average Grant Price
Outstanding (nonvested) at December 31, 2024	227,518	$	20.65
Granted(1)	126,755	$	18.19
Vested	(97,104)	$	18.83
Forfeited	—	$	—
Outstanding (nonvested) at December 31, 2025	257,169	$	20.12

(1) The aggregate fair value of all RSAs granted during the year ended December 31, 2025 was approximately $2.3 million, which was determined based on the market value of our stock as of that date.

Performance Stock Units

PSUs granted under the A&R 2020 Plan to the Company’s employees generally vest subject to attainment of performance criteria during the service period established by the Compensation Committee. Each PSU represents the right to receive one share of common stock, and the actual number of shares issuable upon vesting is determined based upon performance compared to financial performance targets. The PSUs vest based on the achievement of certain adjusted earnings per share targets for a period of up to three years combined with a service period of three years. Compensation cost is recognized over the requisite service period when it is probable that the performance condition will be satisfied. During the fourth quarter of 2024, the Company reassessed the probability of vesting for the PSU awards granted in 2023 and determined that it was not probable that the performance targets will be achieved. Therefore, the Company recognized an adjustment of approximately $2.1 million to reverse compensation expense on a cumulative basis in the fourth quarter of 2024 (none in 2025).

The Company recognized compensation expense for PSUs of $2.4 million, $1.6 million and $3.5 million for the years ended December 31, 2025, 2024 and 2023, respectively, which is included in salaries and benefits in the consolidated statements of income and comprehensive income. As of December 31, 2025, there was $4.2 million of unrecognized compensation expense related to PSUs, which is expected to be recognized over a weighted-average period of 1.7 years.

A summary of the PSU activity during the year ended December 31, 2025 is presented below:


	Number of PSUs	Weighted-Average Remaining Contractual Term (Years)	Weighted-Average Grant Price
Outstanding (nonvested) at December 31, 2024	321,530	8.77	$	21.88
Granted(1)	337,814		$	12.11
Vested	(14,451)		$	12.11
Forfeited	(137,951)		$	25.38
Outstanding (nonvested) at December 31, 2025	506,942	8.56	$	14.70

(1) The aggregate fair value of all PSUs granted during the year ended December 31, 2025 was approximately $4.1 million, which was determined based on the market value of our stock as of that date.

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Summary of Agent Advances Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Receivables [Abstract]
Agent advances receivable, current	$ 2,001	$ 2,260
Allowance for credit losses	(203)	(173)
Net current	1,798	2,087
Agent advances receivable, long-term	2,960	2,315
Allowance for credit losses	(264)	(117)
Net long-term	$ 2,696	$ 2,198

LEASES

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

LEASES

To conduct certain of our operations, the Company is a party to leases for office space, warehouses, Company-operated store locations and vehicles.

The presentation of right-of-use assets and lease liabilities in the consolidated balance sheets is as follows (in thousands):


Leases	Classification	December 31, 2025		December 31, 2024
Assets
Right-of-use assets	Other assets(1)	$	15,878	$	18,511
Total leased assets		$	15,878	$	18,511

Liabilities
Current
Operating	Accrued and other liabilities	$	6,207	$	6,468
Noncurrent
Operating	Lease liabilities	15,483		18,582
Total Lease liabilities		$	21,690	$	25,050

(1) Operating right of-use assets are recorded net of accumulated amortization of $16.9 million and $14.5 million as of December 31, 2025 and 2024, respectively.

Operating lease cost for the years ended December 31, 2025, 2024 and 2023, respectively, was as follows (in thousands):


	Year Ended
Lease Cost	December 31, 2025		December 31, 2024		December 31, 2023
Operating lease cost(1)	$	7,019	$	7,028	$	7,848

(1) Operating lease cost is included in other selling, general and administrative expenses in the consolidated statements of income and comprehensive income for the years ended December 31, 2025, 2024 and 2023.

As of December 31, 2025 and 2024, the Company’s weighted-average remaining lease terms on its operating leases is 6.2 and 6.6 years, and the Company’s weighted-average discount rate is 6.48% and 6.31%, respectively, which is the Company's incremental borrowing rate. The Company used its incremental borrowing rate for all leases, as none of the Company’s lease agreements provide a readily determinable implicit rate.

Lease Payments

Future minimum lease payments for assets under non-cancelable operating lease agreements with original terms of more than one year for the next five years and thereafter are as follows (in thousands):


2026	$	6,220
2027	4,550
2028	3,094
2029	2,301
2030	2,231
Thereafter	7,575
Total lease payments	25,971
Less: Imputed interest	(4,281)
Present value of lease liabilities	$	21,690

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) - USD ($) $ in Thousands		3 Months Ended	12 Months Ended
	Dec. 04, 2024	Dec. 31, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
Goodwill impairment		$ 1,200	$ 1,209	$ 0	$ 0
Amigo Paisano
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired				$ 12,000
Consideration transferred	$ 12,000
Other intangibles
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired			$ 3,200
Intangible assets, useful life (in years)		10 years	10 years
Trade names \| Amigo Paisano
Finite-Lived Intangible Assets [Line Items]
Intangible assets acquired	$ 12,000
Intangible assets, useful life (in years)	15 years

- Definition

Line items represent financial concepts included in a table. These concepts are used to disclose reportable information associated with domain members defined in one or many axes to the table.

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+ Details

- Definition

Amount of impairment loss from asset representing future economic benefit arising from other asset acquired in business combination or from joint venture formation or both, that is not individually identified and separately recognized.

+ References + Details

REVENUE - Revenues from Contract with Customers (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Disaggregation of Revenue [Line Items]
Wire transfer and money order fees	$ 503,995	$ 557,697	$ 564,337
Discounts and promotions	(1,840)	(2,896)	(2,797)
Total revenues	607,776	658,649	658,735
Wire transfer and money order fees, net
Disaggregation of Revenue [Line Items]
Total revenues	502,155	554,801	561,540
Foreign exchange gain, net
Disaggregation of Revenue [Line Items]
Total revenues	87,160	88,944	87,908
Other income
Disaggregation of Revenue [Line Items]
Total revenues	$ 18,461	$ 14,904	$ 9,287

- Definition

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- Definition

Amount, including tax collected from customer, of revenue from satisfaction of performance obligation by transferring promised good or service to customer. Tax collected from customer is tax assessed by governmental authority that is both imposed on and concurrent with specific revenue-producing transaction, including, but not limited to, sales, use, value-added and excise.

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+ Details

GOODWILL AND INTANGIBLE ASSETS

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill consists of the following (in thousands):


	December 31,
	2025		2024
Indefinite life:
Goodwill	$	53,986	$	55,195
Total indefinite life	$	53,986	$	55,195

Intangible assets consist of the following (in thousands):


	December 31, 2025						December 31, 2024
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Amortizable:
Agent relationships	$	49,020	$	(42,257)	$	6,763	$	49,020	$	(40,489)	$	8,531
Trade names	30,599		(16,229)		14,370		30,598		(13,846)		16,752
Developed technology	6,600		(6,422)		178		6,600		(6,326)		274
Other intangibles	5,437		(1,344)		4,093		2,253		(963)		1,290
Net amortizable intangible assets	$	91,656	$	(66,252)	$	25,404	$	88,471	$	(61,624)	$	26,847

Goodwill and the majority of intangible assets on the consolidated balance sheets of the Company were primarily recognized from business acquisition transactions. The fair value measurements were based on significant inputs, such as the Company’s forecasted revenues, assumed turnover of agent locations, obsolescence assumptions for technology, market discount and royalty rates. These inputs are based on information not observable in the market and represent Level 3 measurements within the fair value hierarchy.

Management believes it has made reasonable estimates and judgments concerning these risks and uncertainties. A change in the conditions, circumstances or strategy of the Company may result in a need to recognize an impairment charge. During the fourth quarter of 2025, a foreign subsidiary ceased operations as a money transmitter and is in the process of being liquidated, which resulted in an impairment charge of goodwill related to that investment in an amount of $1.2 million. As a result of the annual impairment test, the Company determined that there was no additional impairment to goodwill as of December 31, 2025. As a result of the annual impairment test, the Company determined that goodwill was not impaired as of December 31, 2024.

The following table presents the changes in goodwill and intangible assets (in thousands):


	Goodwill		Intangible Assets
Balance at December 31, 2022	$	49,774	$	19,826
Measurement period adjustment	(635)		—
Acquisition of LAN Holdings	4,847		3,200
Acquisition of agent locations	—		—
Amortization expense	—		(4,883)
Balance at December 31, 2023	$	53,986	$	18,143
Acquisition of Amigo Paisano brands	—		12,000
Acquisition of entities	1,209		—
Acquisition of agent locations	—		700
Amortization expense	—		(3,996)
Balance at December 31, 2024	$	55,195	$	26,847

Goodwill impairment	(1,209)		—
Acquisition of agent locations	—		3,183
Amortization expense	—		(4,626)
Balance at December 31, 2025	$	53,986	$	25,404

Acquisition of Agent Locations

Other intangible assets of approximately $3.2 million resulting from the acquisition of agent locations during the year ended December 31, 2025 have a weighted average useful life of 10 years.

Acquisition of Amigo Paisano brands

On December 4, 2024, the Company completed the acquisition of the Amigo Paisano brands and trademarks (“Amigo Paisano”) from a Guatemala-based third-party company, primarily concentrated in the United States to Guatemala corridor. Amigo Paisano provides the Company the opportunity to enhance its digital channel offerings and strengthen its presence in Central America.

The total consideration transferred by the Company in connection with the acquisition of Amigo Paisano was $12.0 million. The acquisition was funded with cash on hand. The allocation of the consideration transferred resulted in intangible assets that consisted of trade names of approximately $12.0 million, which will be amortized over an estimated useful life of 15 years.

Amortization expense related to intangible assets for the next five years and thereafter is as follows (in thousands):


2026	$	4,067
2027	3,492
2028	3,010
2029	2,619
2030	2,340
Thereafter	9,876
	$	25,404

INCOME TAXES - Reconciliation of Tax Provision (Benefit) (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Income before income taxes	$ 47,100	$ 83,271	$ 85,064
U.S. statutory tax rate	21.00%	21.00%	21.00%
Income tax expense at statutory rate	$ 9,891	$ 17,487	$ 17,863
Amount [Abstract]
State and local income taxes, net of federal income tax effect	3,396	5,488	6,513
Foreign tax effects	455	871	480
Non-taxable or Non-deductible items:
Share-based compensation expenses	553	(683)	(1,126)
Non-deductible officer compensation expenses	487	1,188	1,817
Non-taxable gain contingency	(693)	0	0
Other Non-deductible expenses	325	87	2
Other adjustments	15	12	0
Total tax provision	$ 14,429	$ 24,450	$ 25,549
Percent [Abstract]
State and local income taxes, net of federal income tax effect	7.20%	6.60%	7.70%
Foreign tax effects	1.00%	1.00%	0.60%
Non-taxable or Non-deductible items:
Share-based compensation expenses	1.20%	(0.80%)	(1.30%)
Non-deductible officer compensation expenses	1.00%	1.40%	2.10%
Non-taxable gain contingency	(1.50%)	0.00%	0.00%
Other Non-deductible expenses	0.70%	0.10%	0.00%
Other adjustments	0.00%	0.00%	0.00%
Total tax provision	30.60%	29.40%	30.00%
State And local income tax	50.00%

FAIR VALUE MEASUREMENTS (Tables)

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

Schedule of Financial Instruments Categorized by Fair Value Hierarchy

The following tables present the fair value of the Company's financial instruments, categorized based upon the fair value hierarchy (in thousands):


	December 31, 2025
	Level 1		Level 2		Level 3

Cash and cash equivalents	$	168,682	$	—	$	—
Accounts receivable	—		105,369		—
Agent advances	—		4,494		—
Prepaid wires	—		59,497		—
Total assets	$	168,682	$	169,360	$	—
Accounts payable	$	—	$	15,317	$	—
Wire transfers and money orders payable	—		87,540		—
Revolving credit facility	—		194,814		—
Total liabilities	$	—	$	297,671	$	—


	December 31, 2024
	Level 1		Level 2		Level 3

Cash and cash equivalents	$	130,503	$	—	$	—
Accounts receivable	—		107,077		—
Agent advances	—		4,285		—
Prepaid wires	—		49,205		—
Total assets	$	130,503	$	160,567	$	—
Accounts payable	$	—	$	19,520	$	—
Wire transfers and money orders payable	—		85,044		—
Revolving credit facility	—		156,600		—

Total liabilities	$	—	$	261,164	$	—

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024
Wire Transfer and Money Orders Payable [Line Items]
Wire transfers payable, net	$ 26,708	$ 22,437
Customer voided wires payable	34,298	32,583
Money orders payable	26,534	30,024
Total wire transfers and money orders payable, net	$ 87,540	$ 85,044
Wires payable collection period	30 days
Minimum
Wire Transfer and Money Orders Payable [Line Items]
Statutory abandonment period	3 years
Maximum
Wire Transfer and Money Orders Payable [Line Items]
Statutory abandonment period	7 years

DEBT

12 Months Ended

Dec. 31, 2025

Debt Disclosure [Abstract]

DEBT

Debt consisted of the following (in thousands):


	December 31,
	2025		2024
Revolving credit facility	$	194,814	$	156,600
Other	11		23



	$	194,825	$	156,623

Until August 28, 2024, the Company and certain of its domestic subsidiaries as borrowers and the other guarantors from time to time party thereto (collectively, the “Loan Parties”) maintained an Amended and Restated Credit Agreement (as amended, the “A&R Credit Agreement”) with a group of banking institutions. The A&R Credit Agreement provided for a $220.0 million revolving credit facility, an $87.5 million term loan facility and an uncommitted incremental facility, which may have been utilized for additional revolving or term loans, of up to $70.0 million. The A&R Credit Agreement also provided for the issuance of letters of credit, which would reduce availability under the revolving credit facility. The proceeds of the term loan were used to refinance the existing term loan facility under the Company’s previous credit agreement, and the revolving credit facility was available for working capital, general corporate purposes and to pay fees and expenses in connection with entry into the A&R Credit Agreement.

At the election of the Company, interest on the term loan facility and revolving loans under the A&R Credit Agreement were determined by reference to the secured overnight financing rate as administered by the Federal Reserve Bank of New York (“SOFR”) plus an index adjustment of 0.10% and an applicable margin ranging between 2.50% and 3.00% based upon the Company’s consolidated leverage ratio, as calculated pursuant to the terms of the A&R Credit Agreement. Loans (other than Term Loans, as defined in the A&R Credit Agreement), were subject to interest at the base rate plus an applicable margin ranging between 1.50% and 2.00% based upon the Company’s consolidated leverage ratio, as so calculated. The Company was also required to pay a fee on the unused portion of the revolving credit facility equal to 0.35% per annum.

On August 29, 2024, the Company entered into the Second A&R Credit Agreement with a group of banking institutions, which amended and restated in its entirety the A&R Credit Agreement. The Second A&R Credit Agreement provides for a new $425.0 million, multi-currency, revolving credit facility and an uncommitted incremental facility, which may be utilized for additional term and revolving loans of up to $100.0 million. The Second A&R Credit Agreement also provides for the issuance of letters of credit, which would reduce availability under the revolving credit facility. The maturity date of the Second A&R Credit Agreement is August 29, 2029. A portion of the initial borrowings under the new revolving credit facility were used to repay in full the remaining outstanding balance of the Company’s term loan under the A&R Credit Agreement and to pay the costs associated with establishing the new revolving credit facility. Borrowings under the Second A&R Credit Agreement are available for general corporate purposes to support the Company’s growth, as well as to fund share repurchases.

Entering into the Second A&R credit agreement was accounted for as a debt modification. The unamortized portion of debt origination costs primarily related to the Second A&R Credit Agreement totaled approximately $3.6 million and $4.6 million at December 31, 2025 and 2024, respectively. Amortization of debt origination costs is included as a component of interest expense in the consolidated statements of income and comprehensive income and amounted to approximately $1.0 million, $1.4 million and $1.1 million for the years ended December 31, 2025, 2024, and 2023, respectively. Amortization of debt origination costs for the year ended December 31, 2024 includes a loss on debt extinguishment of approximately $0.3 million related to the payoff of the term loan facility to the banking institutions that ceased to participate in the credit facility.

Under the Second A&R Credit Agreement and at the election of the Company, interest on the revolving loans denominated in U.S. Dollars is determined by reference to either (i) SOFR, (ii) the daily simple SOFR or (iii) a defined “base rate,” in each case, plus an applicable margin ranging from 1.75% to 2.25% for SOFR rate loans and from 0.75% to 1.25% for base rate loans based upon the Company’s consolidated leverage ratio, as so calculated pursuant to the terms of the Second A&R Credit Agreement. Interest on revolving loans denominated in Euros or Pounds Sterling is determined by reference to the Euro Interbank Offered Rate (“EURIBOR”) or Sterling Overnight Index Average (“SONIA”), in each case, plus an applicable margin ranging from 1.75% to 2.25% based upon the Company’s consolidated leverage ratio, as so calculated.

The revolving loans may be borrowed, repaid, and reborrowed from time to time in accordance with the terms and conditions of the Second A&R Credit Agreement. Interest is payable quarterly for base rate loans, daily simple SOFR loans, and daily simple SONIA loans, and on the expiration of the applicable interest period for term SOFR loans and EURIBOR loans. The Company also pays an annual commitment fee of up to 0.30% of the actual daily amount by which the maximum availability under the revolving credit facility exceeds the sum of the outstanding amount of revolving credit loans.

The effective interest rate for the year ended December 31, 2025 for the revolving credit facility was 2.78%. The effective interest rates for the year ended December 31, 2024 for the term loan facility and revolving credit facility were 9.02% and 2.51%, respectively.

The Second A&R Credit Agreement also provides the Company with increased flexibility to make certain restricted payments, including the repurchase shares of its common stock, without limitation so long as the Company’s consolidated leverage ratio, as of the then most recently completed four fiscal quarters, after giving pro forma effect to such restricted payments, is 2.50 to 1.00 or less. In addition, the Company may make restricted payments that do not exceed in the aggregate during any fiscal year the greater of (i) $30.3 million and (ii) 25% of Consolidated EBITDA (as defined in the Second A&R Credit Agreement) for the then most recently completed four fiscal quarters of the Company.

The Second A&R Credit Agreement also contains customary covenants that limit the ability of the Company and its subsidiaries to, among other things, grant liens, incur additional indebtedness, make acquisitions or investments, dispose of certain assets, issue dividends and distributions (other than to the Company and certain of its subsidiaries), change the nature of their businesses, enter into certain transactions with affiliates, or amend the terms of material indebtedness, in each case subject to certain thresholds and exceptions.

Under the Second A&R Credit Agreement, the Company is required to maintain a quarterly minimum interest coverage ratio of 3.00:1.00 and a quarterly maximum consolidated leverage ratio of 3.50 with a step-up to 3.75 in the quarter during which the Company completes a material acquisition, in each case, as computed in accordance with the terms of the Second A&R Credit Agreement. As of December 31, 2025, the Company was in compliance with these covenants.

The obligations under the Second A&R Credit Agreement are guaranteed by the Company and certain domestic subsidiaries of the Company and secured by liens on substantially all of the assets of the Loan Parties, subject to certain exclusions and limitations.

- Definition

The entire disclosure for information about short-term and long-term debt arrangements, which includes amounts of borrowings under each line of credit, note payable, commercial paper issue, bonds indenture, debenture issue, own-share lending arrangements and any other contractual agreement to repay funds, and about the underlying arrangements, rationale for a classification as long-term, including repayment terms, interest rates, collateral provided, restrictions on use of assets and activities, whether or not in compliance with debt covenants, and other matters important to users of the financial statements, such as the effects of refinancing and noncompliance with debt covenants.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 8A
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480434/815-10-50-8A

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S50
-Paragraph 1
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480738/235-10-S50-1

Reference 3: http://www.xbrl.org/2003/role/disclosureRef
-Topic 235
-SubTopic 10
-Name Accounting Standards Codification
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08(c))
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147480678/235-10-S99-1

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (b)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 470
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-Name Accounting Standards Codification
-Section 50
-Paragraph 6
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147481544/470-10-50-6

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
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-Subparagraph (d)
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Reference 7: http://www.xbrl.org/2003/role/disclosureRef
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Reference 8: http://www.xbrl.org/2003/role/disclosureRef
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Reference 9: http://www.xbrl.org/2003/role/disclosureRef
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Reference 10: http://www.xbrl.org/2003/role/disclosureRef
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Reference 11: http://www.xbrl.org/2003/role/disclosureRef
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-URI https://asc.fasb.org/1943274/2147481139/470-20-50-1B

Reference 12: http://fasb.org/us-gaap/role/ref/legacyRef
-Topic 470
-Name Accounting Standards Codification
-Publisher FASB
-URI https://asc.fasb.org/470/tableOfContent

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
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-Name Accounting Standards Codification
-Section 45
-Paragraph 2
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482925/835-30-45-2

Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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Reference 15: http://www.xbrl.org/2003/role/disclosureRef
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Reference 16: http://www.xbrl.org/2003/role/disclosureRef
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Reference 17: http://www.xbrl.org/2003/role/disclosureRef
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Reference 18: http://www.xbrl.org/2003/role/disclosureRef
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Reference 19: http://www.xbrl.org/2003/role/disclosureRef
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Reference 20: http://www.xbrl.org/2003/role/disclosureRef
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Reference 21: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

INCOME TAXES

12 Months Ended

Dec. 31, 2025

Income Tax Disclosure [Abstract]

INCOME TAXES

The components of income (loss) before income taxes are as follows (in thousands):


	Year Ended December 31,
	2025		2024		2023
Domestic	$	46,258	$	84,676	$	84,170
Foreign	842		(1,405)		894
Income before income taxes	$	47,100	$	83,271	$	85,064

The provision (benefit) for income taxes consists of the following (in thousands):


	Year Ended December 31,
	2025		2024		2023
Current tax provision:
Federal	$	5,830	$	17,086	$	18,590
State	3,060		7,252		9,050
Foreign	340		560		532
Total Current	9,230		24,898		28,172

Deferred tax benefit:
Federal	3,715		(112)		(1,811)
State	1,239		(305)		(806)
Foreign	245		(31)		(6)
Total deferred	5,199		(448)		(2,623)
Total tax provision	$	14,429	$	24,450	$	25,549


	Year Ended December 31,
	2025					2024					2023
Income before income taxes	$	47,100				$	83,271				$	85,064
U.S. statutory tax rate	21		%			21		%			21		%
Income tax expense at statutory rate	9,891					17,487					17,863

State and local income taxes, net of federal income tax effect (1)	3,396			7.2	%	5,488			6.6	%	6,513			7.7	%
Foreign tax effects	455			1.0	%	871			1.0	%	480			0.6	%



Non-taxable or Non-deductible items:
Share-based compensation expenses	553			1.2	%	(683)			(0.8)	%	(1,126)			(1.3)	%
Non-deductible officer compensation expenses	487			1.0	%	1,188			1.4	%	1,817			2.1	%
Non-taxable gain contingency	(693)			(1.5)	%	—			—	%	—			—	%
Other Non-deductible expenses	325			0.7	%	87			0.1	%	2			—	%

Other adjustments	15			—	%	12			—	%	—			—	%
Total tax provision	$	14,429		30.6	%	$	24,450		29.4	%	$	25,549		30.0	%

(1) State taxes in Florida, New York, California, and New York City make up the majority (greater than 50 percent) of the effect of this category.

As presented in the income tax reconciliation above, the tax provision recognized on the consolidated statements of income and comprehensive income was impacted by state taxes, non-deductible officer compensation, share-based compensation tax benefits, non-taxable gain contingencies from La Nacional, and foreign tax rates applicable to the Company’s foreign subsidiaries that are higher or

lower than the U.S. statutory rate. The Company is also subject to tax in various U.S. state and foreign jurisdictions. Changes in the annual allocation and apportionment of the Company’s activity amongst these jurisdictions results in changes to the blended tax rate utilized to measure the Company’s deferred tax assets and liabilities.

Deferred tax assets and liabilities are recognized for the expected tax consequences of temporary differences between the book and tax bases of the Company’s assets and liabilities. The following table outlines the principal components of the deferred tax assets and liabilities (in thousands):


	December 31,
	2025		2024
Deferred tax assets:
U.S. federal and state net operating losses	$	2,434	$	2,809
Foreign net operating losses	8,415		7,132
Allowance for credit losses	1,421		1,131
Share-based compensation	1,943		1,280
Accrued compensation	479		642
Deferred revenue	75		848
Transaction costs	3,422		493
Lease liabilities	6,057		6,793
Other	1,139		989
Total deferred tax assets	25,385		22,117

Valuation allowance	(8,042)		(6,537)

Total deferred tax assets, net of valuation allowance	17,343		15,580

Deferred tax liabilities:
Depreciation	(11,892)		(3,542)
Right-of-use assets	(4,426)		(4,967)
Intangible amortization	(6,397)		(7,321)

Total deferred tax liabilities	(22,715)		(15,830)

Net deferred tax liability	$	(5,372)	$	(250)

At December 31, 2025, the Company had pre-tax federal, state and foreign net operating loss carryforwards of approximately $10.8 million, $5.5 million and $37.7 million, respectively, which are available to reduce future taxable income. With certain exceptions, these net operating loss carryforwards will expire from 2031 through 2037 for federal losses, from 2029 through 2038 for state losses, and from 2038 through 2045 for foreign losses. In addition, $32.3 million of the foreign net operating loss carryforwards in our European jurisdictions carryforward indefinitely. Utilization of the Company’s net operating loss carryforwards is subject to an annual limitation under Internal Revenue Code Section 382. The Company has recorded a deferred tax asset for only the portion of its net operating loss carryforward that it expects to realize before expiration.

With few exceptions, the Company is no longer subject to U.S. federal, state or local income tax examinations by tax authorities for the years prior to 2022. However, the Company has certain net operating loss carryforwards from tax years 2010 through 2017 that are subject to examination. As of December 31, 2025 and 2024, the Company did not have any amounts accrued for interest and penalties or recorded for uncertain tax positions.

At December 31, 2025 and 2024, after consideration of all evidence, both positive and negative, management has determined that no valuation allowance is required on the Company’s U.S. deferred tax assets. However, a valuation allowance of $8.0 million and $6.5 million as of December 31, 2025 and 2024, respectively, has been recorded on deferred tax assets associated with foreign net operating loss carryforwards. The valuation allowance increased by $1.5 million and $0.7 million during the years ended December 31, 2025 and 2024, respectively.

Cash paid for income taxes, net of refunds received, by jurisdiction for the years ended December 31, 2025, 2024, and 2023 is as follows (in thousands):


	Year ended December 31,
	2025		2024		2023
Federal	$	10,662	$	17,050	$	13,665
State:
California	748		1,227		1,198
Florida	1,181		1,978		2,580
New York	2,167		1,297		982
Other States	2,328		3,039		3,078
Foreign	803		—		—
Cash paid for income taxes, net of refunds received	$	17,889	$	24,591	$	21,503

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 942
-SubTopic 740
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147477617/942-740-50-1

Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 14: http://www.xbrl.org/2003/role/disclosureRef
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-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482603/740-30-50-2

+ Details

COMMITMENTS AND CONTINGENCIES	12 Months Ended
COMMITMENTS AND CONTINGENCIES	Dec. 31, 2025
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Contingencies and Legal Proceedings The Company is subject to legal proceedings and claims that have arisen in the ordinary course of its business and have not been finally adjudicated. Although there can be no assurance as to the ultimate disposition of these matters, it is the opinion of the Company’s management, based upon the information available at this time and the stage of the proceedings, that it is not possible to determine the probability of loss or estimate of damages, and therefore, the Company has not established a reserve for any of these proceedings. In November 2025, the Company entered into a settlement agreement in connection with a dispute regarding representations and warranties related to a business acquisition under which the Company recorded a gain contingency of approximately $3.3 million. The Company operates in all 50 states in the United States, two U.S. territories and eight other countries. Money transmitters and their agents are under regulation by state and federal laws. Violations may result in civil or criminal penalties or a prohibition from providing money transfer services in a particular jurisdiction. It is the opinion of the Company’s management, based on information available at this time, that the expected outcome of regulatory examinations will not have a material adverse effect on either the results of operations or financial condition of the Company. Regulatory Requirements Pursuant to applicable licensing laws, certain domestic and foreign subsidiaries of the Company are required to maintain minimum tangible net worth and liquid assets (eligible securities) to cover the amount outstanding of wire transfers and money orders payable. As of December 31, 2025 and 2024, the Company’s subsidiaries were in compliance with these requirements.

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES - Summary of Cash and Cash Equivalents (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Accounting Policies [Abstract]
Cash and cash equivalents in U.S. dollars in U.S. banks	$ 152,064	$ 117,295
Cash and cash equivalents in foreign banks and foreign currency	14,084	10,819
Cash on hand	2,534	2,389
Cash	$ 168,682	$ 130,503

LEASES - Right-Of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Assets
Right-of-use assets	$ 15,878	$ 18,511
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Current
Operating	$ 6,207	$ 6,468
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued and other liabilities	Accrued and other liabilities
Noncurrent
Operating	$ 15,483	$ 18,582
Total Lease liabilities	21,690	25,050
Operating lease, right-of-use asset, accumulated amortization	$ 16,900	$ 14,500

PROPERTY AND EQUIPMENT - Summary of Property and Equipment (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 103,962	$ 93,922
Less: accumulated depreciation	(46,813)	(43,568)
Property and equipment, net	57,149	50,354
Land
Property, Plant and Equipment [Line Items]
Property and equipment, gross	0	36
Building
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 103	658
Estimated Useful Life (in years)	30 years
Computer equipment
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 42,422	43,055
Computer equipment \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	3 years
Computer equipment \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	5 years
Computer software
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 46,631	31,451
Estimated Useful Life (in years)	5 years
Computer software \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	3 years
Computer software \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	5 years
Office improvements
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 12,251	14,349
Office improvements \| Minimum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	2 years
Office improvements \| Maximum
Property, Plant and Equipment [Line Items]
Estimated Useful Life (in years)	10 years
Furniture and fixtures
Property, Plant and Equipment [Line Items]
Property and equipment, gross	$ 2,555	$ 4,373
Estimated Useful Life (in years)	7 years

GOODWILL AND INTANGIBLE ASSETS - Summary of Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Indefinite life:
Goodwill	$ 53,986	$ 55,195	$ 53,986	$ 49,774
Total indefinite life	53,986	55,195
Amortizable:
Gross Carrying Value	91,656	88,471
Accumulated Amortization	(66,252)	(61,624)
Net Carrying Value	25,404	26,847
Agent relationships
Amortizable:
Gross Carrying Value	49,020	49,020
Accumulated Amortization	(42,257)	(40,489)
Net Carrying Value	6,763	8,531
Trade names
Amortizable:
Gross Carrying Value	30,599	30,598
Accumulated Amortization	(16,229)	(13,846)
Net Carrying Value	14,370	16,752
Developed technology
Amortizable:
Gross Carrying Value	6,600	6,600
Accumulated Amortization	(6,422)	(6,326)
Net Carrying Value	178	274
Other intangibles
Amortizable:
Gross Carrying Value	5,437	2,253
Accumulated Amortization	(1,344)	(963)
Net Carrying Value	$ 4,093	$ 1,290

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Summary of Changes in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 3,836	$ 2,794	$ 2,648
Provision	7,916	6,411	4,997
Charge-offs	(7,705)	(6,248)	(5,852)
Recoveries	1,597	1,174	987
Other	353	(295)	14
Ending Balance	$ 5,997	$ 3,836	$ 2,794

GOODWILL AND INTANGIBLE ASSETS (Tables)

12 Months Ended

Dec. 31, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

Summary of Goodwill and Intangible Assets

Goodwill consists of the following (in thousands):


	December 31,
	2025		2024
Indefinite life:
Goodwill	$	53,986	$	55,195
Total indefinite life	$	53,986	$	55,195

Intangible assets consist of the following (in thousands):


	December 31, 2025						December 31, 2024
	Gross Carrying Value		Accumulated Amortization		Net Carrying Value		Gross Carrying Value		Accumulated Amortization		Net Carrying Value
Amortizable:
Agent relationships	$	49,020	$	(42,257)	$	6,763	$	49,020	$	(40,489)	$	8,531
Trade names	30,599		(16,229)		14,370		30,598		(13,846)		16,752
Developed technology	6,600		(6,422)		178		6,600		(6,326)		274
Other intangibles	5,437		(1,344)		4,093		2,253		(963)		1,290
Net amortizable intangible assets	$	91,656	$	(66,252)	$	25,404	$	88,471	$	(61,624)	$	26,847

The following table presents the changes in goodwill and intangible assets (in thousands):


	Goodwill		Intangible Assets
Balance at December 31, 2022	$	49,774	$	19,826
Measurement period adjustment	(635)		—
Acquisition of LAN Holdings	4,847		3,200
Acquisition of agent locations	—		—
Amortization expense	—		(4,883)
Balance at December 31, 2023	$	53,986	$	18,143
Acquisition of Amigo Paisano brands	—		12,000
Acquisition of entities	1,209		—
Acquisition of agent locations	—		700
Amortization expense	—		(3,996)
Balance at December 31, 2024	$	55,195	$	26,847

Goodwill impairment	(1,209)		—
Acquisition of agent locations	—		3,183
Amortization expense	—		(4,626)
Balance at December 31, 2025	$	53,986	$	25,404

Amortization Expense Related to Intangible Assets

Amortization expense related to intangible assets for the next five years and thereafter is as follows (in thousands):


2026	$	4,067
2027	3,492
2028	3,010
2029	2,619
2030	2,340
Thereafter	9,876
	$	25,404

PROPERTY AND EQUIPMENT - Narrative (Details) - USD ($) $ in Millions	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Property, Plant and Equipment [Abstract]
Depreciation expense	$ 12.5	$ 9.6	$ 8.0
Repairs and maintenance expenses	$ 7.3	$ 6.1	$ 5.4

EARNINGS PER SHARE - Basic and Diluted Earnings per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income for basic and diluted income per common share	$ 32,671	$ 58,821	$ 59,515
Shares:
Weighted-average common shares outstanding - basic (in shares)	29,938,268	32,430,755	35,604,582
Weighted-average common shares outstanding - diluted (in shares)	30,181,194	32,850,497	36,429,714
Earnings per common share - basic (in dollars per share)	$ 1.09	$ 1.81	$ 1.67
Earnings per common share - diluted (in dollars per share)	$ 1.08	$ 1.79	$ 1.63
Stock options
Shares:
Effect of dilutive securities (in shares)	23,473	119,503	290,830
PSUs
Shares:
Effect of dilutive securities (in shares)	88,049	159,146	366,321
RSUs
Shares:
Effect of dilutive securities (in shares)	97,006	89,121	109,886
RSAs
Shares:
Effect of dilutive securities (in shares)	34,398	51,972	58,095

AUDIT INFORMATION	12 Months Ended
AUDIT INFORMATION	Dec. 31, 2025
Audit Information [Abstract]
Auditor Name	BDO USA, P.C.
Auditor Location	Miami, FL
Auditor Firm ID	243

Insider Trading Policies and Procedures	12 Months Ended
Insider Trading Policies and Procedures	Dec. 31, 2025
Insider Trading Policies and Procedures [Line Items]
Insider Trading Policies and Procedures Adopted	true

ACQUISITIONS

12 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

ACQUISITIONS

On July 2, 2024, the Company completed the acquisition of 100% of the issued and outstanding stock of a money services entity incorporated in the United Kingdom. This acquisition provided the Company the opportunity to enter into the outbound remittance market from the United Kingdom.

The total consideration transferred by the Company in connection with the acquisition was approximately $1.4 million in cash, subject to customary purchase price adjustments. The acquisition was funded with cash on hand.

The fair value of identifiable net assets acquired and goodwill in the acquisition on July 2, 2024 amounted to approximately $0.2 million and $1.2 million, respectively. The measurement period ended June 30, 2025 and no adjustments were recorded through that date.

The goodwill balance for this acquisition represented the estimated values of the Company’s assembled workforce and synergies expected to be achieved from the combined operations of the acquired entity and the Company. Goodwill resulting from this acquisition was not deductible for tax purposes.

Restructuring costs

During 2025, the Company executed a restructuring plan related to certain of its domestic and foreign operations. For the year ended December 31, 2025, the Company incurred approximately $0.7 million in expenses primarily for a reduction of workforce in certain locations. These restructuring costs are part of the Company's plan, for which the objectives are to reorganize the workforce, streamline operational processes, close certain facilities and develop efficiencies within the Company. These expenses primarily consisted of severance payments and related benefits, which are included in restructuring costs in the consolidated statement of income and comprehensive income.

The following table presents the changes in our liability balance related to restructuring costs for the year ended December 31, 2025 (in thousands):


	Year Ended December 31, 2025
	Severance costs		Legal and professional fees
Beginning balance	$	300	$	16
Charges incurred	709		16
Payments	(756)		(25)
Ending balance	$	253	$	7

During 2024, the Company executed a restructuring plan related to certain of its foreign operations and Envios de Valores La Nacional Corp. These restructuring costs were part of the Company's plan, for which the objectives were to reorganize the workforce, streamline operational processes, integrate technology functionality, as well as to develop efficiencies within the Company. For the year ended December 31, 2024, the Company incurred approximately $3.1 million in expenses for a reduction of workforce in certain locations, closing of certain facilities, discontinuing technology and disposal of obsolete assets. These expenses include approximately $2.3 million in severance payments and related benefits, $0.4 million in software and software development costs write-offs and $0.4 million in legal and professional fees, which are included in restructuring costs in the consolidated statement of income and comprehensive income.

The following table presents the changes in our liability balance related to restructuring costs for the year ended December 31, 2024 (in thousands):


	Year Ended December 31, 2024
	Severance costs		Legal and professional fees
Beginning balance	$	—	$	—
Charges incurred	2,254		376
Payments	(1,954)		(360)
Ending balance	$	300	$	16

Transaction Costs

Transaction costs include all internal and external costs directly related to acquisition activities and the Company's evaluation of strategic alternatives including the pending Merger with Western Union, consisting primarily of legal, consulting, accounting and financial advisory fees. Transaction costs for the years ended December 31, 2025, 2024, and 2023 amounted to $10.5 million, $1.8 million and $0.4 million, respectively.

- Definition

The entire disclosure for business combination.

+ References

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+ Details

ACCRUED AND OTHER LIABILITIES - Changes in Deferred Revenue Loyalty Program Liability (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Movement in Deferred Revenue [Roll Forward]
Beginning balance	$ 2,692	$ 4,771	$ 4,212
Revenue deferred during the year	141	2,783	3,230
Revenue recognized during the year	(2,833)	(4,862)	(2,671)
Ending balance	$ 0	$ 2,692	$ 4,771

FAIR VALUE MEASUREMENTS

12 Months Ended

Dec. 31, 2025

Fair Value Disclosures [Abstract]

FAIR VALUE MEASUREMENTS

The Company determines fair value in accordance with the provisions of FASB guidance, Fair Value Measurements and Disclosures, which defines fair value as an exit price, representing the amount that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, a three-level fair value hierarchy that prioritizes the inputs used to measure fair value was established. There are three levels of inputs used to measure fair value and for disclosure purposes. Level 1 relates to quoted market prices for identical assets or liabilities in active markets. Level 2 relates to observable inputs other than quoted prices included in Level 1. Level 3 relates to unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities.

The Company’s non-financial assets measured at fair value on a nonrecurring basis include goodwill and intangible assets. The determination of our intangible fair values is based on a discounted cash flows analysis that includes several assumptions and inputs to measure the economic benefit of these assets over their useful lives, such as the Company’s forecasted revenues, assumed turnover of agent locations, obsolescence assumptions for technology, market discount and royalty rates. These inputs are based on information not observable in the market and represent Level 3 measurements within the fair value hierarchy.

The Company's financial assets and liabilities are carried at amortized cost. The Company’s cash and cash equivalents balances are representative of their fair values as these balances are comprised of deposits available on demand or overnight. The carrying amounts of accounts receivable, agent advances receivable, prepaid wires, accounts payable and wire transfers and money orders payable are representative of their fair values because of the short turnover of these instruments.

The Company’s financial liabilities include its revolving credit facility. The estimated fair value of the revolving credit facility would approximate book value given the payment schedule and interest rate structure, which approximates current market interest rates.

The following tables present the fair value of the Company's financial instruments, categorized based upon the fair value hierarchy (in thousands):


	December 31, 2025
	Level 1		Level 2		Level 3

Cash and cash equivalents	$	168,682	$	—	$	—
Accounts receivable	—		105,369		—
Agent advances	—		4,494		—
Prepaid wires	—		59,497		—
Total assets	$	168,682	$	169,360	$	—
Accounts payable	$	—	$	15,317	$	—
Wire transfers and money orders payable	—		87,540		—
Revolving credit facility	—		194,814		—
Total liabilities	$	—	$	297,671	$	—


	December 31, 2024
	Level 1		Level 2		Level 3

Cash and cash equivalents	$	130,503	$	—	$	—
Accounts receivable	—		107,077		—
Agent advances	—		4,285		—
Prepaid wires	—		49,205		—
Total assets	$	130,503	$	160,567	$	—
Accounts payable	$	—	$	19,520	$	—
Wire transfers and money orders payable	—		85,044		—
Revolving credit facility	—		156,600		—

Total liabilities	$	—	$	261,164	$	—

- Definition

The entire disclosure for the fair value of financial instruments (as defined), including financial assets and financial liabilities (collectively, as defined), and the measurements of those instruments as well as disclosures related to the fair value of non-financial assets and liabilities. Such disclosures about the financial instruments, assets, and liabilities would include: (1) the fair value of the required items together with their carrying amounts (as appropriate); (2) for items for which it is not practicable to estimate fair value, disclosure would include: (a) information pertinent to estimating fair value (including, carrying amount, effective interest rate, and maturity, and (b) the reasons why it is not practicable to estimate fair value; (3) significant concentrations of credit risk including: (a) information about the activity, region, or economic characteristics identifying a concentration, (b) the maximum amount of loss the entity is exposed to based on the gross fair value of the related item, (c) policy for requiring collateral or other security and information as to accessing such collateral or security, and (d) the nature and brief description of such collateral or security; (4) quantitative information about market risks and how such risks are managed; (5) for items measured on both a recurring and nonrecurring basis information regarding the inputs used to develop the fair value measurement; and (6) for items presented in the financial statement for which fair value measurement is elected: (a) information necessary to understand the reasons for the election, (b) discussion of the effect of fair value changes on earnings, (c) a description of [similar groups] items for which the election is made and the relation thereof to the balance sheet, the aggregate carrying value of items included in the balance sheet that are not eligible for the election; (7) all other required (as defined) and desired information.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (bbb)(1)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 107
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-107

Reference 3: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 55
-Paragraph 100
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482078/820-10-55-100

Reference 4: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (c)(3)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 5: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 6: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2E
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2E

Reference 7: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 8: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (f)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 9: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (e)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 10: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 6A
-Subparagraph (d)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-6A

Reference 11: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (h)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 12: http://www.xbrl.org/2003/role/disclosureRef
-Topic 820
-SubTopic 10
-Name Accounting Standards Codification
-Section 50
-Paragraph 2
-Subparagraph (g)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147482106/820-10-50-2

Reference 13: http://www.xbrl.org/2003/role/disclosureRef
-Topic 940
-SubTopic 820
-Name Accounting Standards Codification
-Section 50
-Paragraph 1
-Subparagraph (a)
-Publisher FASB
-URI https://asc.fasb.org/1943274/2147478119/940-820-50-1

+ Details

LEASES (Tables)

12 Months Ended

Dec. 31, 2025

Leases [Abstract]

Presentation of Right-of-Use Assets and Lease Liabilities in Condensed Consolidated Balance Sheet

The presentation of right-of-use assets and lease liabilities in the consolidated balance sheets is as follows (in thousands):


Leases	Classification	December 31, 2025		December 31, 2024
Assets
Right-of-use assets	Other assets(1)	$	15,878	$	18,511
Total leased assets		$	15,878	$	18,511

Liabilities
Current
Operating	Accrued and other liabilities	$	6,207	$	6,468
Noncurrent
Operating	Lease liabilities	15,483		18,582
Total Lease liabilities		$	21,690	$	25,050

(1) Operating right of-use assets are recorded net of accumulated amortization of $16.9 million and $14.5 million as of December 31, 2025 and 2024, respectively.

Schedule of Lease Expense

Operating lease cost for the years ended December 31, 2025, 2024 and 2023, respectively, was as follows (in thousands):


	Year Ended
Lease Cost	December 31, 2025		December 31, 2024		December 31, 2023
Operating lease cost(1)	$	7,019	$	7,028	$	7,848

Schedule of Future Minimum Lease Payments


2026	$	6,220
2027	4,550
2028	3,094
2029	2,301
2030	2,231
Thereafter	7,575
Total lease payments	25,971
Less: Imputed interest	(4,281)
Present value of lease liabilities	$	21,690

ACQUISITIONS - Schedule of Liability Balances Related to Restructuring (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Restructuring Reserve [Roll Forward]
Restructuring costs	$ 742	$ 3,060	$ 1,214
Severance costs \| Foreign Operations and Envios de Valores La Nacional Corp.
Restructuring Reserve [Roll Forward]
Beginning balance	300	0
Restructuring costs	709	2,254
Payments	(756)	(1,954)
Ending balance	253	300	0
Legal And Professional Fees \| Foreign Operations and Envios de Valores La Nacional Corp.
Restructuring Reserve [Roll Forward]
Beginning balance	16	0
Restructuring costs	16	376
Payments	(25)	(360)
Ending balance	$ 7	$ 16	$ 0

- Definition

Amount of expenses associated with exit or disposal activities pursuant to an authorized plan. Excludes expenses related to a discontinued operation or an asset retirement obligation.

+ References + Details

ACQUISITIONS (Tables)

12 Months Ended

Dec. 31, 2025

Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]

Schedule of Restructuring Reserve by Type of Cost

The following table presents the changes in our liability balance related to restructuring costs for the year ended December 31, 2025 (in thousands):


	Year Ended December 31, 2025
	Severance costs		Legal and professional fees
Beginning balance	$	300	$	16
Charges incurred	709		16
Payments	(756)		(25)
Ending balance	$	253	$	7

The following table presents the changes in our liability balance related to restructuring costs for the year ended December 31, 2024 (in thousands):


	Year Ended December 31, 2024
	Severance costs		Legal and professional fees
Beginning balance	$	—	$	—
Charges incurred	2,254		376
Payments	(1,954)		(360)
Ending balance	$	300	$	16

PROPERTY AND EQUIPMENT

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

PROPERTY AND EQUIPMENT

Property and equipment consists of the following (in thousands):


	December 31,				Estimated Useful Life (in years)
	2025		2024
Land	$	—	$	36
Building	103		658		30
Computer equipment	42,422		43,055		3 to 5
Computer software	46,631		31,451		3 to 5
Office improvements	12,251		14,349		2 to 10
Furniture and fixtures	2,555		4,373		7
	103,962		93,922
Less: accumulated depreciation	(46,813)		(43,568)
	$	57,149	$	50,354

Depreciation expense included in depreciation and amortization expense in the consolidated statements of income and comprehensive income was approximately $12.5 million, $9.6 million and $8.0 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Repairs and maintenance expenses included in other selling, general and administrative expenses in the consolidated statements of income and comprehensive income were approximately $7.3 million, $6.1 million and $5.4 million for the years ended December 31, 2025, 2024 and 2023, respectively.

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Receivables [Abstract]
Accounts receivable	$ 5,530	$ 3,546	$ 2,610
Agent advances receivable	467	290	184
Allowance for credit losses	$ 5,997	$ 3,836	$ 2,794	$ 2,648

- Definition

Amount of allowance for credit loss on financing receivable. Excludes allowance for financing receivable covered under loss sharing agreement.

+ References + Details

EARNINGS PER SHARE (Tables)

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

Basic and Diluted Earnings per Share

Below are basic and diluted earnings per share for the periods indicated (in thousands, except for share data):


	Year Ended December 31,
	2025		2024		2023
Net income for basic and diluted income per common share	$	32,671	$	58,821	$	59,515
Shares:
Weighted-average common shares outstanding – basic	29,938,268		32,430,755		35,604,582
Effect of dilutive securities
Stock options	23,473		119,503		290,830
PSUs	88,049		159,146		366,321
RSUs	97,006		89,121		109,886
RSAs	34,398		51,972		58,095
Weighted-average common shares outstanding – diluted	30,181,194		32,850,497		36,429,714

Earnings per common share - basic	$	1.09	$	1.81	$	1.67
Earnings per common share - diluted	$	1.08	$	1.79	$	1.63

GOODWILL AND INTANGIBLE ASSETS - Changes in Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands	3 Months Ended	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Goodwill
Goodwill, beginning balance		$ 55,195	$ 53,986	$ 49,774
Measurement period adjustments				(635)
Goodwill impairment	$ (1,200)	(1,209)	0	0
Goodwill, ending balance	53,986	53,986	55,195	53,986
Intangible Assets
Intangible assets, beginning balance		26,847	18,143	19,826
Measurement period adjustments				0
Amortization expense		(4,626)	(3,996)	(4,883)
Intangible assets, ending balance	$ 25,404	25,404	26,847	18,143
La Nacional
Goodwill
Acquisition				4,847
Intangible Assets
Acquisition				3,200
Agent Locations
Goodwill
Acquisition		0	0	0
Intangible Assets
Acquisition		3,183	700	$ 0
Amigo Paisano
Goodwill
Acquisition			0
Intangible Assets
Acquisition			12,000
Other Entities
Goodwill
Acquisition			1,209
Goodwill impairment		$ (1,209)
Intangible Assets
Acquisition			$ 0

CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Statement of Financial Position [Abstract]
Accounts receivable	$ 5,530	$ 3,546
Preferred stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Preferred stock, authorized (in shares)	5,000,000	5,000,000
Preferred stock, issued (in shares)	0	0
Preferred stock, outstanding (in shares)	0	0
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common stock, authorized (in shares)	200,000,000	200,000,000
Common stock, issued (in shares)	40,682,683	40,164,056
Common stock, outstanding (in shares)	29,719,115	30,548,702
Treasury stock (in shares)	10,963,568	9,615,354

INCOME TAXES - Schedule of Cash Paid for Income Taxes, Net of Refunds Received (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Line Items]
Federal	$ 10,662	$ 17,050	$ 13,665
Foreign	803	0	0
Cash paid for income taxes, net of refunds received	17,889	24,591	21,503
California
Income Tax Disclosure [Line Items]
State	748	1,227	1,198
Florida
Income Tax Disclosure [Line Items]
State	1,181	1,978	2,580
New York
Income Tax Disclosure [Line Items]
State	2,167	1,297	982
Other States
Income Tax Disclosure [Line Items]
State	$ 2,328	$ 3,039	$ 3,078

SHARE-BASED COMPENSATION - Stock Option Activity (Details) - 2018 and 2020 Plans - USD ($)	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Number of Options
Outstanding at beginning of period (in shares)	151,125
Granted (in shares)	0
Exercised (in shares)	(5,000)
Forfeited (in shares)	0
Expired (in shares)	0
Outstanding at end of period (in shares)	146,125	151,125
Exercisable at end of period (in shares)	146,125
Weighted-Average Exercise Price
Outstanding at beginning of period (in dollars per share)	$ 12.13
Granted (in dollars per share)	0
Exercised (in dollars per share)	9.91
Forfeited (in dollars per share)	0
Expired (in dollars per share)	0
Outstanding at end of period (in dollars per share)	12.21	$ 12.13
Exercisable at end of period (in dollars per share)	$ 12.21
Weighted-Average Remaining Contractual Term (Years)
Weighted average remaining contractual term, outstanding	3 years 4 months 17 days	4 years 4 months 9 days
Weighted average remaining contractual term, exercisable	3 years 4 months 17 days
Weighted-Average Grant Date Fair Value
Outstanding at beginning of period (in dollars per share)	$ 4.35
Granted (in dollars per share)	0
Exercised (in dollars per share)	3.32
Forfeited (in dollars per share)	0
Expired (in dollars per share)	0
Outstanding at end of period (in dollars per share)	4.38	$ 4.35
Exercisable at end of period (in dollars per share)	$ 4.38
Aggregate intrinsic value of stock options exercised	$ 22,500	$ 4,000,000.0	$ 1,300,000
Aggregate fair value of vested/exercisable options	$ 600,000

PREPAID EXPENSES AND OTHER ASSETS - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Prepaid Expense and Other Assets [Abstract]
Prepaid insurance	$ 1,343	$ 1,097
Prepaid fees and services	3,057	2,823
Agent incentive advances	2,166	2,494
Agent advances receivable, net of allowance	1,798	2,087
Prepaid marketing expenditures	1,318	502
Prepaid income taxes	8,123	119
Prepaid expenses and other current assets	1,806	1,876
Prepaid expenses and other current assets	$ 19,611	$ 10,998

DEBT - Narrative (Details) - USD ($) $ in Thousands	12 Months Ended
DEBT - Narrative (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Apr. 30, 2023	Mar. 31, 2023
Debt Instrument [Line Items]
Amortization of debt origination costs	$ 1,024	$ 1,416	$ 1,130
Extinguishment of debt	300
A&R Credit Agreement
Debt Instrument [Line Items]
Unamortized portion of debt origination costs	3,600	4,600
Amortization of debt origination costs	1,000	$ 1,400	$ 1,100
Debt instrument, covenant, restricted payment threshold	$ 30,300
Debt instrument, covenant, restricted payment threshold, percent of EBITDA	25.00%
A&R Credit Agreement \| Maximum
Debt Instrument [Line Items]
Leverage ratio, restricted payments	2.50
A&R Credit Agreement \| SOFR
Debt Instrument [Line Items]
Interest rate	0.10%
A&R Credit Agreement \| SOFR \| Minimum
Debt Instrument [Line Items]
Interest rate	2.50%
A&R Credit Agreement \| SOFR \| Maximum
Debt Instrument [Line Items]
Interest rate	3.00%
A&R Credit Agreement \| Base Rate \| Minimum
Debt Instrument [Line Items]
Interest rate	1.50%
A&R Credit Agreement \| Base Rate \| Maximum
Debt Instrument [Line Items]
Interest rate	2.00%
Second A&R Credit Agreement
Debt Instrument [Line Items]
Debt instrument, covenant, restricted payment threshold	$ 30,300
Debt instrument, covenant, restricted payment threshold, percent of EBITDA	25.00%
Second A&R Credit Agreement \| Loans Payable
Debt Instrument [Line Items]
Commitment fee	0.30%
Second A&R Credit Agreement \| Minimum
Debt Instrument [Line Items]
Fixed charge coverage ratio	3.00
Consolidated leverage ratio	3.50
Second A&R Credit Agreement \| Maximum
Debt Instrument [Line Items]
Leverage ratio, restricted payments	2.50
Consolidated leverage ratio	3.75
Second A&R Credit Agreement \| SOFR \| Minimum
Debt Instrument [Line Items]
Interest rate	1.75%
Second A&R Credit Agreement \| SOFR \| Maximum
Debt Instrument [Line Items]
Interest rate	2.25%
Second A&R Credit Agreement \| Base Rate \| Minimum
Debt Instrument [Line Items]
Interest rate	0.75%
Second A&R Credit Agreement \| Base Rate \| Maximum
Debt Instrument [Line Items]
Interest rate	1.25%
Second A&R Credit Agreement \| EURIBOR Or SONIA \| Minimum
Debt Instrument [Line Items]
Interest rate	1.75%
Second A&R Credit Agreement \| EURIBOR Or SONIA \| Maximum
Debt Instrument [Line Items]
Interest rate	2.25%
Revolving credit facility \| A&R Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 425,000	$ 220,000
Unused line fee percentage	0.35%
Effective interest rate	2.78%	2.51%
Term Loan Facility \| A&R Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity					87,500
Effective interest rate		9.02%
Uncommitted Incremental Facility \| A&R Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 100,000	$ 70,000

SHARE-BASED COMPENSATION (Tables)

12 Months Ended

Dec. 31, 2025

Share-Based Payment Arrangement [Abstract]

Summary of Stock Option Activity

A summary of the stock option activity during the year ended December 31, 2025 is presented below:


	Number of Options	Weighted-Average Exercise Price		Weighted-Average Remaining Contractual Term (Years)	Weighted-Average Grant Date Fair Value
Outstanding at December 31, 2024	151,125	$	12.13	4.36	$	4.35
Granted	—	$	—		$	—
Exercised(1)	(5,000)	$	9.91		$	3.32
Forfeited	—	$	—		$	—
Expired	—	$	—		$	—
Outstanding at December 31, 2025	146,125	$	12.21	3.38	$	4.38

Exercisable at December 31, 2025(2)	146,125	$	12.21	3.38	$	4.38

(1) The aggregate intrinsic value of stock options exercised during the years ended December 31, 2025, 2024 and 2023 was $22.5 thousand, $4.0 million, and $1.3 million respectively.

(2) The aggregate fair value of all vested/exercisable options outstanding as of December 31, 2025 was $0.6 million, which was determined based on the market value of our stock as of that date.

Summary of RSU Activity

A summary of the RSU grant activity during the year ended December 31, 2025 is presented below:


	Number of RSUs	Weighted-Average Grant Price
Outstanding (nonvested) at December 31, 2024	432,316	$	20.71
Granted(1)	424,132	$	14.16
Vested	(197,946)	$	20.01
Forfeited	(66,964)	$	17.09
Outstanding (nonvested) at December 31, 2025	591,538	$	17.17

(1) The aggregate fair value of all RSUs granted during the year ended December 31, 2025 was approximately $6.0 million, which was determined based on the market value of our stock as of that date.

Summary of RSA Activity

A summary of the RSA activity during the year ended December 31, 2025 is presented below:


	Number of RSAs	Weighted-Average Grant Price
Outstanding (nonvested) at December 31, 2024	227,518	$	20.65
Granted(1)	126,755	$	18.19
Vested	(97,104)	$	18.83
Forfeited	—	$	—
Outstanding (nonvested) at December 31, 2025	257,169	$	20.12

(1) The aggregate fair value of all RSAs granted during the year ended December 31, 2025 was approximately $2.3 million, which was determined based on the market value of our stock as of that date.

Summary of PSU Activity

A summary of the PSU activity during the year ended December 31, 2025 is presented below:


	Number of PSUs	Weighted-Average Remaining Contractual Term (Years)	Weighted-Average Grant Price
Outstanding (nonvested) at December 31, 2024	321,530	8.77	$	21.88
Granted(1)	337,814		$	12.11
Vested	(14,451)		$	12.11
Forfeited	(137,951)		$	25.38
Outstanding (nonvested) at December 31, 2025	506,942	8.56	$	14.70

(1) The aggregate fair value of all PSUs granted during the year ended December 31, 2025 was approximately $4.1 million, which was determined based on the market value of our stock as of that date.

ACCRUED AND OTHER LIABILITIES (Tables)

12 Months Ended

Dec. 31, 2025

Payables and Accruals [Abstract]

Accrued and Other Liabilities

Accrued and other liabilities consisted of the following (in thousands):


	December 31,
	2025		2024
Commissions payable to sending agents	$	16,381	$	18,080
Accrued salaries and benefits	3,785		5,581
Accrued bank charges	3,225		1,839
Lease liability, current portion	6,207		6,468
Accrued professional fees	2,156		1,092
Accrued taxes	1,940		2,965
Deferred revenue loyalty program	—		2,692
Contingent consideration liability	—		1,158
Acquisition related liabilities	150		1,244
Accrued transaction costs	84		1,600
Other	4,172		4,715
	$	38,100	$	47,434

Changes in Deferred Revenue Loyalty Program Liability

The following table shows the changes in the deferred revenue loyalty program liability (in thousands):


Balance, December 31, 2022	$	4,212
Revenue deferred during the year	3,230
Revenue recognized during the year	(2,671)
Balance, December 31, 2023	4,771
Revenue deferred during the year	2,783
Revenue recognized during the year	(4,862)
Balance, December 31, 2024	2,692
Revenue deferred during the year	141
Revenue recognized during the year	(2,833)
Balance, December 31, 2025	$	—

ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands		12 Months Ended
ACQUISITIONS - Narrative (Details) - USD ($) $ in Thousands	Jul. 02, 2024	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Restructuring Cost and Reserve [Line Items]
Goodwill		$ 53,986	$ 55,195	$ 53,986	$ 49,774
Restructuring costs		742	3,060	1,214
Transaction costs		10,464	1,819	$ 445
United Kingdom Money Services Entity
Restructuring Cost and Reserve [Line Items]
Ownership interest acquired	100.00%
Consideration transferred	$ 1,400
Assets acquired	200
Goodwill	$ 1,200
Foreign Operations and Envios de Valores La Nacional Corp.
Restructuring Cost and Reserve [Line Items]
Restructuring expenses paid			3,100
Foreign Operations and Envios de Valores La Nacional Corp. \| Severance Payments and Related Benefits
Restructuring Cost and Reserve [Line Items]
Restructuring costs		709	2,254
Restructuring expenses paid			2,300
Foreign Operations and Envios de Valores La Nacional Corp. \| Software And Software Development Costs Writeoff
Restructuring Cost and Reserve [Line Items]
Restructuring expenses paid			400
Foreign Operations and Envios de Valores La Nacional Corp. \| Legal And Professional Fees
Restructuring Cost and Reserve [Line Items]
Restructuring costs		$ 16	376
Restructuring expenses paid			$ 400

PROPERTY AND EQUIPMENT (Tables)

12 Months Ended

Dec. 31, 2025

Property, Plant and Equipment [Abstract]

Summary of Property and Equipment

Property and equipment consists of the following (in thousands):


	December 31,				Estimated Useful Life (in years)
	2025		2024
Land	$	—	$	36
Building	103		658		30
Computer equipment	42,422		43,055		3 to 5
Computer software	46,631		31,451		3 to 5
Office improvements	12,251		14,349		2 to 10
Furniture and fixtures	2,555		4,373		7
	103,962		93,922
Less: accumulated depreciation	(46,813)		(43,568)
	$	57,149	$	50,354

INCOME TAXES - Schedule of Income before Income Tax, Domestic and Foreign (Details) - USD ($) $ in Thousands	12 Months Ended
	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023
Income Tax Disclosure [Abstract]
Domestic	$ 46,258	$ 84,676	$ 84,170
Foreign	842	(1,405)	894
Income before income taxes	$ 47,100	$ 83,271	$ 85,064

- Definition

Amount of income (loss) from continuing operations, including income (loss) from equity method investments, before deduction of income tax expense (benefit), and income (loss) attributable to noncontrolling interest.

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+ Details

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Dec. 31, 2025
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

ACCRUED AND OTHER LIABILITIES - Accrued and Other Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024	Dec. 31, 2023	Dec. 31, 2022
Accrued Liabilities and Other Liabilities [Abstract]
Commissions payable to sending agents	$ 16,381	$ 18,080
Accrued salaries and benefits	3,785	5,581
Accrued bank charges	3,225	1,839
Lease liability, current portion	6,207	6,468
Accrued professional fees	2,156	1,092
Accrued taxes	1,940	2,965
Deferred revenue loyalty program	0	2,692	$ 4,771	$ 4,212
Contingent consideration liability	0	1,158
Acquisition related liabilities	150	1,244
Accrued transaction costs	84	1,600
Other	4,172	4,715
Accrued and other liabilities	$ 38,100	$ 47,434

FAIR VALUE MEASUREMENTS - Schedule of Financial Instruments Categorized by Fair Value Hierarchy (Details) - Fair Value, Recurring - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Level 1
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash and cash equivalents	$ 168,682	$ 130,503
Accounts receivable	0	0
Agent advances	0	0
Prepaid wires	0	0
Total assets	168,682	130,503
Accounts payable	0	0
Wire transfers and money orders payable	0	0
Revolving credit facility	0	0
Total liabilities	0	0
Level 2
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash and cash equivalents	0	0
Accounts receivable	105,369	107,077
Agent advances	4,494	4,285
Prepaid wires	59,497	49,205
Total assets	169,360	160,567
Accounts payable	15,317	19,520
Wire transfers and money orders payable	87,540	85,044
Revolving credit facility	194,814	156,600
Total liabilities	297,671	261,164
Level 3
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash and cash equivalents	0	0
Accounts receivable	0	0
Agent advances	0	0
Prepaid wires	0	0
Total assets	0	0
Accounts payable	0	0
Wire transfers and money orders payable	0	0
Revolving credit facility	0	0
Total liabilities	$ 0	$ 0

PREPAID EXPENSES AND OTHER ASSETS - Other Assets (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Prepaid Expense and Other Assets [Abstract]
Revolving credit facility origination fees	$ 3,593	$ 4,576
Agent incentive advances	1,750	3,702
Agent advances receivable, net of allowance	2,696	2,198
Right-of-use assets, net	15,878	18,511
Funds held by seized banking entities, net of allowance	1,774	1,539
Other assets	2,302	1,672
Total other assets	$ 27,993	$ 32,198

SEGMENT REPORTING

12 Months Ended

Dec. 31, 2025

Segment Reporting [Abstract]

SEGMENT REPORTING

The Company is a leading omnichannel money remittance services company focused primarily on the U.S. to LAC corridor, which includes Mexico, Central and South America and the Caribbean. We also provide our remittances services to Africa and Asia from the United States and offer sending services from Canada to Latin America and Africa as well as remittance services from Spain, Italy and Germany to Africa, Asia, Europe and Latin America. The Company has identified one operating and reportable segment. The Company defines its segment on the basis of the way in which internally reported financial information is regularly reviewed by the Company’s chief operating decision maker (the “CODM”) to analyze financial performance, make decisions, and allocate resources.

The Company’s CODM is Robert Lisy, Chairman, Chief Executive Officer and President. The CODM uses the Company’s consolidated financial results as a basis for making key operating decisions. Examples of key operating decisions include entering new markets, stock repurchases, and managing liquidity. The CODM considers Net Income as the primary measure of segment performance. Segment assets are consistent with total assets as presented on the consolidated balance sheets.

The table below provides information about the Company's measure of segment performance and significant expense categories:


	Year Ended December 31,
	2025		2024		2023
Revenues:
Wire transfer and money order fees, net	$	502,155	$	554,801	$	561,540
Foreign exchange gain, net	87,160		88,944		87,908
Other income	18,461		14,904		9,287
Total revenues	607,776		658,649		658,735

Less:
Agent commissions	255,333		281,157		284,157
Payer commissions	96,543		108,697		110,865
Bank charges and fees	26,573		26,497		25,065
Salaries and benefits	75,036		68,247		70,203
Other segment items (1)	61,149		54,100		53,433
Provision for credit losses	7,916		6,411		4,997
Restructuring costs	742		3,060		1,214
Transaction costs	10,464		1,819		445
Goodwill impairment	1,209		—		—
Depreciation and amortization	17,161		13,645		12,866
Total operating expenses	552,126		563,633		563,245

Operating income	55,650		95,016		95,490

Gain contingency	3,286		—		—

Interest expense	11,836		11,745		10,426

Income before income taxes	47,100		83,271		85,064

Income tax provision	14,429		24,450		25,549

Net income	$	32,671	$	58,821	$	59,515

(1) Other segment items included in Segment net income is primarily composed of other selling, general and administrative expenses, transaction processing costs, and other overhead expenses.

- Definition

The entire disclosure for reporting segments including data and tables. Reportable segments include those that meet any of the following quantitative thresholds a) it's reported revenue, including sales to external customers and intersegment sales or transfers is 10 percent or more of the combined revenue, internal and external, of all operating segments b) the absolute amount of its reported profit or loss is 10 percent or more of the greater, in absolute amount of 1) the combined reported profit of all operating segments that did not report a loss or 2) the combined reported loss of all operating segments that did report a loss c) its assets are 10 percent or more of the combined assets of all operating segments.

+ References

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+ Details

CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive (Loss) Income
Beginning balance, common stock (in shares) at Dec. 31, 2022		39,453,236
Beginning balance at Dec. 31, 2022	$ 149,906	$ 4	$ (59,300)	$ 70,210	$ 139,134	$ (142)
Beginning balance, treasury stock (in shares) at Dec. 31, 2022			(2,822,266)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	59,515				59,515
Issuance of common stock:
Exercise of stock options, net of shares withheld for taxes (in shares)		111,125
Exercise of stock options, net of shares withheld for taxes	1,298			1,298
Other stock awards, net of shares withheld for taxes (in shares)		105,293
Other stock awards, net of shares withheld for taxes	(3,933)			(3,933)
Fully vested shares (in shares)		3,617
Share-based compensation	8,111			8,111
Adjustment from foreign currency translation, net	404					404
Acquisition of treasury stock, at cost (in shares)			(3,027,768)
Acquisition of treasury stock, at cost	(66,264)		$ (66,264)
Ending balance, common stock (in shares) at Dec. 31, 2023		39,673,271
Ending balance at Dec. 31, 2023	149,037	$ 4	$ (125,564)	75,686	198,649	262
Ending balance, treasury stock (in shares) at Dec. 31, 2023			(5,850,034)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	58,821				58,821
Issuance of common stock:
Exercise of stock options, net of shares withheld for taxes (in shares)		165,154
Exercise of stock options, net of shares withheld for taxes	(669)			(669)
Other stock awards, net of shares withheld for taxes (in shares)		323,828
Other stock awards, net of shares withheld for taxes	(2,468)			(2,468)
Fully vested shares (in shares)		1,803
Share-based compensation	7,043			7,043
Adjustment from foreign currency translation, net	$ (1,708)					(1,708)
Acquisition of treasury stock, at cost (in shares)	(3,765,320)		(3,765,320)
Acquisition of treasury stock, at cost	$ (75,132)		$ (75,132)
Ending balance, common stock (in shares) at Dec. 31, 2024	30,548,702	40,164,056
Ending balance at Dec. 31, 2024	$ 134,924	$ 4	$ (200,696)	79,592	257,470	(1,446)
Ending balance, treasury stock (in shares) at Dec. 31, 2024	(9,615,354)		(9,615,354)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 32,671				32,671
Issuance of common stock:
Exercise of stock options, net of shares withheld for taxes (in shares)		5,000
Exercise of stock options, net of shares withheld for taxes	46			46
Other stock awards, net of shares withheld for taxes (in shares)		513,627
Other stock awards, net of shares withheld for taxes	(1,079)			(1,079)
Share-based compensation	9,276			9,276
Adjustment from foreign currency translation, net	$ 1,550					1,550
Acquisition of treasury stock, at cost (in shares)	(1,348,214)		(1,348,214)
Acquisition of treasury stock, at cost	$ (16,334)		$ (16,334)
Ending balance, common stock (in shares) at Dec. 31, 2025	29,719,115	40,682,683
Ending balance at Dec. 31, 2025	$ 161,054	$ 4	$ (217,030)	$ 87,835	$ 290,141	$ 104
Ending balance, treasury stock (in shares) at Dec. 31, 2025	(10,963,568)		(10,963,568)

INCOME TAXES - Deferred Tax Assets and Liabilities (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Deferred tax assets:
U.S. federal and state net operating losses	$ 2,434	$ 2,809
Foreign net operating losses	8,415	7,132
Allowance for credit losses	1,421	1,131
Share-based compensation	1,943	1,280
Accrued compensation	479	642
Deferred revenue	75	848
Transaction costs	3,422	493
Lease liabilities	6,057	6,793
Other	1,139	989
Total deferred tax assets	25,385	22,117
Valuation allowance	(8,042)	(6,537)
Total deferred tax assets, net of valuation allowance	17,343	15,580
Deferred tax liabilities:
Depreciation	(11,892)	(3,542)
Right-of-use assets	(4,426)	(4,967)
Intangible amortization	(6,397)	(7,321)
Total deferred tax liabilities	(22,715)	(15,830)
Net deferred tax liability	$ (5,372)	$ (250)

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Summary of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Dec. 31, 2025	Dec. 31, 2024
Receivables [Abstract]
Accounts receivable	$ 110,899	$ 110,623
Allowance for credit losses	(5,530)	(3,546)
Accounts receivable, net	$ 105,369	$ 107,077

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

Summary Cash and Cash Equivalents Balances

Cash and cash equivalents balances were as follows (in thousands):


	December 31,
	2025		2024
Cash and cash equivalents in U.S. dollars in U.S. banks	$	152,064	$	117,295
Cash and cash equivalents in foreign banks and foreign currency	14,084		10,819
Cash on hand	2,534		2,389
	$	168,682	$	130,503

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Maturities of Agent Advances Receivable (Details) $ in Thousands	Dec. 31, 2025 USD ($)
Receivables [Abstract]
Under 1 year	$ 2,001
Between 1 and 2 years	1,886
Between 2 and 3 years	1,074
Total	$ 4,961

- Definition

Amortized cost, before allowance for credit loss, of financing receivable. Excludes financing receivable covered under loss sharing agreement and net investment in lease.

+ References

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+ Details

COVER - USD ($)	12 Months Ended
COVER - USD ($)	Dec. 31, 2025	Mar. 03, 2026	Jun. 30, 2025
Cover [Abstract]
Document Type	10-K
Document Annual Report	true
Document Period End Date	Dec. 31, 2025
Current Fiscal Year End Date	--12-31
Document Transition Report	false
Entity File Number	001-37986
Entity Registrant Name	INTERNATIONAL MONEY EXPRESS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-4219082
Entity Address, Address Line One	9100 South Dadeland Blvd., Ste. 1100
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33156
City Area Code	305
Local Phone Number	671-8000
Title of 12(b) Security	Common stock ($0.0001 par value)
Trading Symbol	IMXI
Security Exchange Name	NASDAQ
Entity Well-known Seasoned Issuer	No
Entity Voluntary Filers	No
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
ICFR Auditor Attestation Flag	true
Document Financial Statement Error Correction	false
Entity Shell Company	false
Entity Public Float			$ 281,367,974
Entity Common Stock, Shares Outstanding		30,136,733
Documents Incorporated by Reference	Part III of this Form 10-K is incorporated by reference to an amendment of this Form 10-K or a definitive Proxy Statement to be delivered to stockholders at a later date in connection with the 2026 Annual Meeting of Stockholders.
Entity Central Index Key	0001683695
Amendment Flag	false
Document Fiscal Year Focus	2025
Document Fiscal Period Focus	FY

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

12 Months Ended

Dec. 31, 2025

Accounting Policies [Abstract]

SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES

Use of Estimates

The preparation of consolidated financial statements in conformity with GAAP requires management to make estimates and assumptions that affect the reported amounts of assets and liabilities, the disclosure of contingent assets and liabilities, and the reported amounts of revenues and expenses. Actual results could differ from these estimates.

Earnings per Share

Basic earnings per share is calculated by dividing net income by the weighted-average number of common shares outstanding for each period. Diluted earnings per share is calculated by dividing net income by the weighted-average number of common shares and common share equivalents outstanding for each period. Diluted earnings per share reflects the potential dilution that could occur if outstanding stock options at the presented dates are exercised and shares of restricted stock units (“RSUs”), restricted stock awards (“RSAs”) and performance stock units (“PSUs”) have vested, using the treasury stock method. Potential common shares are excluded from the computation of diluted earnings per common share when the effect would be anti-dilutive. Treasury stock shares that have been repurchased are not considered outstanding and therefore are excluded from the weighted average number of common shares outstanding calculation.

Cash and Cash equivalents

Cash is comprised of deposits in U.S. and foreign banks and cash in hand held at our Company-operated stores. The Company recognizes interest income from its cash deposits on an accrual basis. The Company considers cash equivalents to be short term, highly liquid investments with original maturities of three months or less. Cash equivalents include cash on deposit in overnight deposit accounts.

Concentrations

The Company maintains certain of its cash balances in various U.S. banks, which at times, may exceed federally insured limits. The Company has not incurred any losses on these accounts. In addition, the Company maintains various bank accounts in Mexico, Guatemala, Canada, the Dominican Republic, Spain, Italy, Germany and the United Kingdom, which may not be fully insured. During the year ended December 31, 2025, the Company has not incurred any losses on these uninsured foreign bank accounts; however, the Company maintains a $4.4 million reserve on the balance of deposits held as a result of the closure of a financial institution in Mexico in 2021 (see Note 6). Management believes it is not exposed to any significant credit risk regarding these accounts as it performs periodic reviews of the creditworthiness of the financial institutions the Company uses. Cash and cash equivalents balances were as follows (in thousands):


	December 31,
	2025		2024
Cash and cash equivalents in U.S. dollars in U.S. banks	$	152,064	$	117,295
Cash and cash equivalents in foreign banks and foreign currency	14,084		10,819
Cash on hand	2,534		2,389
	$	168,682	$	130,503

A substantial portion of our paying agents are concentrated in a few large banks and financial institutions and large retail chains. Our largest paying agent by volume accounted for approximately 22% and 25% of the Company’s total remittance volume for the years ended December 31, 2025 and 2024, respectively, primarily from the U.S. to Mexico.

Revenue Recognition

Revenues for wire transfer and money order fees are recognized at the time the transaction is processed. The Company acts as the principal for these transactions as the Company controls the service at all times prior to transferring the funds to the beneficiary, is primarily responsible for fulfilling the customer contracts, has the risk of loss and has the ability to establish transaction prices. Therefore, these fees are recognized on a gross basis equal to the full amount of the fee charged to the customer. These fees also vary by transaction primarily depending upon, the principal amount sent, the send and receive locations, as well as the respective currencies of the send and receive locations. Foreign exchange gain, net, which represents the difference between the exchange rate set by the Company and the rate realized, is initially recognized when the customer's wire transfer transaction is processed and the purchase of foreign currency is completed. Other income primarily represents revenues for technology services provided to the independent network of agents who utilize the Company’s technology in processing transactions paid by credit or debit card, check cashing services and maintenance fees, for which revenue is derived by a fee per transaction that is recognized when the transactions is processed. In addition, we generate revenue from our remittance-as-a-service (“RaaS”) relationships with digital partners where we receive a fee for facilitating money transfers processed through our proprietary software systems, using our money transmitter licenses and payer network relationships, which are recognized at the time the transaction is processed. The Company acts primarily as the agent for these transactions.

Refer to Note 4 for the discussion related to revenue recognition and additional information on the Company’s revenue.

Business Combinations

The Company accounts for its business combinations using the acquisition method, which requires that intangible assets be recognized apart from goodwill if they are contractual in nature or separately identifiable. Acquisitions are measured based on the fair value of consideration transferred and, if the consideration transferred is not cash, measurement is based on the fair value of the consideration transferred or the fair value of the assets acquired, whichever is more reliably measurable. The excess of the consideration transferred over the fair value of identifiable assets acquired and liabilities assumed is allocated to goodwill.

The valuation and allocation processes rely on significant assumptions made by management. In certain situations, the allocations of excess purchase price are based upon preliminary estimates and assumptions. Accordingly, the allocations are subject to revision when the Company receives updated information, including valuations and other analyses, which are completed within one year of the acquisition. Revisions to the preliminary fair values, which may be significant, are recorded through goodwill until pending information is finalized, not to exceed one year from the acquisition date. Any revisions to the fair values after they have been finalized will be accounted for as a gain or loss in the consolidated statement of income and comprehensive income.

Consideration transferred may consist of potential future payments that are contingent upon the acquired business achieving certain levels of earnings in the future, also referred to as “contingent consideration” or “earn-out.” Earn-out liabilities are measured at their estimated fair value as of the date of acquisition. Changes in the fair value of earn-out liabilities are recorded as a component of operating income in the consolidated statement of income and comprehensive income. Earn-out liabilities are included within accrued current and other liabilities within the consolidated balance sheet. Earn-out payments, to the extent they relate to the estimated earn-out liability as of the date of acquisition, are classified within financing activities in the consolidated statement of cash flows. Earn-out payments in excess of the acquisition date earn-out liability are classified within operating activities.

Direct costs incurred in connection with business combination transactions are expensed as incurred and are included as Transaction Costs in the consolidated statements of income and comprehensive income.

Accounts Receivable and Allowance for Credit Losses

Accounts receivable and agent advances receivable are recorded at amortized cost, reflecting the amount outstanding, net of an allowance for credit losses. Accounts receivable are recorded upon initiation of the wire transfer and are typically due to the Company within five days. The Company maintains an allowance for credit losses for estimated losses resulting from the inability of its sending agents or digital partners to make required payments.

The Company calculates its allowance for credit losses using expected credit loss rates on financial instruments based on the total estimated amount to be collected over the lifetime of the instruments. Expected credit losses for uncollectible receivable balances consider both current conditions and reasonable and supportable forecasts of future conditions. Current conditions include pre-defined aging criteria, as well as specified events that indicate the balance due is not collectible. Reasonable and supportable forecasts used in determining the probability of future collection consider publicly available macroeconomic data and whether future credit losses are expected to differ from historical losses. Accounts receivable that are more than 90 days past due are charged off against the allowance for credit losses.

Receivable balances from sending agents and digital partners are usually due to the Company within five days from the invoice date. Any balances not collected after that time are considered past due.

The Company is not party to any off-balance sheet arrangements that would require an allowance for credit losses.

Prepaid Wires, Net

Prepaid wires, net represents funds provided to certain paying agents in advance of a transaction, net of wires pending to be picked up by the beneficiary of the money transfer.

Prepaid Expenses and Other Assets

Prepaid expenses and other assets consist primarily of right-of-use assets (see Note 8), prepaid expenses for services, tenant allowance, agent advances receivable (see Note 6) and deferred financing costs. Fees earned on agent advances receivable are recognized on a cash basis at the advance origination date.

Wire Transfers Payable, Net

Wire transfers payable, net represent wires pending to be picked up by the beneficiary of the money transfer net of funds provided to certain paying agents in advance of a transaction.

Leases

The Company is a party to leases for office space, warehouses and Company-operated store locations. The Company determines if a contract contains a lease arrangement at the inception of the contract. For leases in which the Company is the lessee, leases are classified as either finance or operating, with classification affecting the pattern of expense recognition. At commencement date, lease right-of-use (“ROUs”) assets consist of the amount of the initial measurement of the lease liability, any lease payments made to the lessor at or before the commencement date, minus any lease incentive received, and any initial direct costs. If a lease does not provide a discount rate and the rate cannot be readily determined, an incremental borrowing rate is used to determine the present value of future lease payments. Lease and variable non-lease components within the Company’s lease agreements are not accounted for separately. Certain leases contain escalation provisions and/or renewal options, which give the Company the option to extend the lease. However, due to uncertainty surrounding the likelihood of lease renewal these options are not reflected in the calculation of the ROU asset and operating lease liability for a significant portion of our leases.

Property and Equipment

Property and equipment, including leasehold improvements, are stated at cost, or the allocated fair value in purchase accounting, less accumulated depreciation and amortization. The costs of additions and betterments that substantially extend the useful life of an asset are capitalized and the expenditures for ordinary repairs and maintenance are expensed in the period incurred as part of other selling, general and administrative expenses in the consolidated statements of income and comprehensive income. Land is not depreciated. Depreciation is computed using the straight-line method over the estimated useful lives of the related assets. Leasehold improvements are amortized over the lease term or the estimated useful life of the improvement, whichever is shorter. At the time depreciable assets are retired or otherwise disposed, the cost and the related accumulated depreciation of such assets are eliminated from the accounts and any gain or loss is recognized in the current period. The Company capitalizes costs incurred for the development of internal use computer software, which are depreciated over five years using the straight-line method.

Goodwill and Intangible Assets

Goodwill and intangible assets result primarily from business and asset acquisition transactions. Intangible assets include primarily agent relationships, trade names, developed technology and other intangibles, all with finite lives. Other intangibles primarily relate to the acquisition of certain agent locations and non-competition agreements. Upon the acquisition, the purchase price is first allocated to identifiable assets and liabilities, including trade name and other intangibles, with any remaining purchase price recorded as goodwill.

Goodwill is not amortized; however, it is assessed for impairment at least annually, at the beginning of the fourth quarter, or more frequently if triggering events occur. For purposes of the annual assessment, management initially performs a qualitative assessment, which includes consideration of the economic, industry and market conditions in addition to our overall financial performance and the performance of these assets. If our qualitative assessment does not conclude that it is more likely than not that the estimated fair value of the reporting unit is greater than the carrying value, we perform a quantitative analysis. In a quantitative test, the fair value of a reporting unit is determined based on a discounted cash flow analysis. A discounted cash flow analysis requires us to make various assumptions, including assumptions about future cash flows, growth rates and discount rates. The assumptions about future cash flows and growth rates are based on our long-term projections. Assumptions used in our impairment testing are consistent with our internal forecasts and operating plans. If the fair value of the reporting unit exceeds its carrying amount, there is no impairment. If not, we recognize an impairment equal to the difference between the carrying amount of the reporting unit and its fair value, not to exceed the carrying amount of goodwill.

The Company’s agent relationships, trade names and developed technology are amortized utilizing an accelerated method over their estimated useful lives of up to 15 years. Other intangible assets are amortized on a straight-line basis over a useful life of up to 10 years. The Company reviews for impairment indicators of finite-lived intangibles and other long-lived assets as described below in “Impairment of Long-Lived Assets.”

Impairment of Long-Lived Assets

The Company evaluates long-lived assets, including amortizable intangible assets, for impairment whenever events or changes in circumstances indicate that the carrying amount of an asset may not be recoverable. Upon such an occurrence, recoverability of assets to be held and used is measured by comparing the carrying amount of an asset to forecasted undiscounted future net cash flows expected to be generated by the asset. If the carrying amount of the asset exceeds its estimated future cash flows, an impairment charge is recognized for the amount by which the carrying amount of the asset exceeds the fair value of the asset. For long-lived assets held for sale, assets are written down to fair value, less cost to sell. Fair value is determined based on discounted cash flows, appraised values or management’s estimates, depending upon the nature of the assets.

Debt Origination Costs

The Company incurred debt origination costs related to the Second A&R Credit Agreement (as defined herein), consisting of a revolving credit facility, and amortizes these costs over the life of the related debt using the straight-line method. The unamortized portion of debt origination costs related to deferred up-front commitment fees paid directly to the lender related to the revolving credit facility are recorded within other assets in the consolidated balance sheets. Amortization of debt origination costs is included as a component of interest expense in the consolidated statements of income and comprehensive income.

Advertising Costs

Advertising costs are included in other selling, general and administrative expenses in the consolidated statements of income and comprehensive income and are expensed as incurred. The Company incurred advertising costs of approximately $6.4 million, $1.2 million and $0.3 million for the years ended December 31, 2025, 2024 and 2023, respectively.

Income Taxes

The Company is subject to U.S. federal and various state income and other taxes and our foreign subsidiaries are subject to taxation by local tax authorities. The Company accounts for income taxes in accordance with GAAP which requires, among other things, recognition of future tax benefits measured at enacted rates attributable to deductible temporary differences between financial statement and income tax bases of assets and liabilities and to tax net operating loss carryforwards to the extent that realization of said benefits is more likely than not. A valuation allowance is recorded to reduce the carrying amounts of deferred tax assets to the amount which we believe we are more likely than not will be realized based on an assessment of positive and negative evidence.

The Company accounts for tax contingencies by assessing all material positions, including all significant uncertain positions, for all tax years that are open to assessment or challenge under tax statutes. Those positions that have only timing consequences are separately analyzed based on the recognition and measurement model provided in the tax guidance.

As required by the uncertain tax position guidance, the Company recognizes the financial statement benefit of a position only after determining that the relevant tax authority would more likely than not sustain the position following an audit. For tax positions meeting the more likely-than-not threshold, the amount recognized in the financial statements is the largest benefit that has a greater than 50 percent likelihood of being realized upon ultimate settlement with the relevant tax authority. The Company is subject to income taxes in the U.S. federal jurisdiction and various state jurisdictions. Tax regulations within each jurisdiction are subject to the interpretation of the related tax laws and regulations and require significant judgment to apply. The Company applies the uncertain tax position guidance to all tax positions for which the statute of limitations remains open. The Company’s policy is to classify interest accrued as interest expense and penalties as other selling, general and administrative expenses.

Foreign Currency Translation and Transactions

The financial statements and transactions of the Company’s foreign operations are maintained in their functional currency, which is other than the U.S. dollar. Assets and liabilities are translated at current exchange rates in effect at the balance sheet date. Revenue and expenses are translated at the average exchange rate for each period. Translation adjustments, which result from the process of translating the financial statements of the Company’s foreign operations into U.S. dollars, are recorded as a component of accumulated other comprehensive income (loss).

Gains or losses from foreign currency transactions amounted to approximately a loss of $0.9 million, a gain of $0.1 million and a gain of $0.2 million for the years ended December 31, 2025, 2024 and 2023, respectively, and are included in other selling, general and administrative expenses in the consolidated statements of income and comprehensive income.

We manage foreign currency risk through the structure of the business and an active risk management process. We currently settle with our payers in Latin America primarily by entering into foreign exchange tom and spot transactions with local and foreign currency providers (“counterparties”). There are no collateral posting requirements for these transactions.

The foreign exchange tom and spot transactions are derivatives that are carried at fair value in Prepaid expenses and other current assets or Accrued and other liabilities on the Consolidated Balance Sheets. The foreign currency exposure on our foreign exchange tom and spot transactions is limited by the fact that all transactions are settled within two business days from trade date. Foreign currency fluctuations, however, may negatively affect our average exchange gain per transaction. Changes in fair value are recognized in foreign exchange gain, net on the consolidated statements of income and comprehensive income. We do not elect hedge accounting, but rather use these derivatives for economic hedging purposes. The Company had open tom and spot foreign exchange contracts for Mexico and Guatemala with a notional amount of approximately $4.7 million and $12.7 million at December 31, 2025 and 2024, respectively. Unrealized gain, net on these open contracts was not material at December 31, 2025 and 2024. Realized gains or losses on tom and spot transactions are recorded in foreign exchange gain, net in the statements of income and comprehensive income.

In addition, included in wire transfers and money orders payable, net in our consolidated balance sheets as of December 31, 2025 and 2024, there are $20.2 million and $23.0 million, respectively, of wire transfers payable denominated in foreign currencies, primarily in Mexican pesos and Guatemalan quetzales.

Also, included in prepaid wires, net in our consolidated balance sheets as of December 31, 2025 and 2024, there are $33.2 million and $29.8 million, respectively, of prepaid wires denominated in foreign currencies, primarily in Mexican pesos and Guatemalan quetzales.

Comprehensive Income (Loss)

Comprehensive income (loss) consists of net income (loss) and the net foreign currency translation adjustment and is presented in the consolidated statements of income and comprehensive income.

Share-Based Compensation

The Company accounts for its share-based compensation expense related to equity awards granted to employees, independent directors and service providers based on estimated fair values on the date of grant. We have elected to account for forfeitures as they occur. The Company may use either authorized and unissued shares or treasury shares to meet share issuance requirements. See Note 14 for further discussion related to the Company’s share-based compensation plans.

Segments

The Company’s business is organized around one reportable segment that provides money transmittal services between the U.S., Canada and certain countries in Europe to Mexico, Guatemala and other countries in Latin America, Europe, Africa and Asia through a network of authorized agents located in various unaffiliated retail establishments and 118 Company-operated stores throughout the U.S., Canada, Spain, Italy and Germany, as well as digitally through the Internet via our websites, co-branded websites with digital partners and mobile device applications. This is based on the objectives of the business and how our chief operating decision maker, the CEO and President, monitors operating performance and allocates resources.

Reclassifications

Certain prior year amounts have been reclassified to conform with current year presentation primarily as it relates to disclosure of the provision for credit losses as a separate item in the consolidated statements of income and comprehensive income.

Accounting Pronouncements

The Financial Accounting Standards Board (“FASB”) issued guidance, ASU 2023-09, Income Taxes (Topic 740): Improvements to Income Tax Disclosures, which focuses on the rate reconciliation and income taxes paid. This guidance requires a public entity to disclose, on an annual basis, a tabular rate reconciliation using both percentages and currency amounts, broken out into specified categories with certain reconciling items further broken out by nature and jurisdiction to the extent those items exceed a specified threshold. In addition, all entities are required to disclose income taxes paid, net of refunds received disaggregated by federal, state/local, and foreign and by jurisdiction if the amount is at least 5% of total income tax payments, net of refunds received. The new standard was adopted by the Company effective January 1, 2025 on a retrospective basis. The adoption of this ASU did not have any effect on our consolidated balance sheets or statements of income and comprehensive income. The new disclosures under this ASU are described in more detail in Note 17.

The FASB issued ASU 2024-03, Income Statement - Reporting Comprehensive Income - Expense Disaggregation Disclosures (Subtopic 220-40): Disaggregation of Income Statement Expenses, which requires more detailed disclosures about specified categories of expenses (including purchases of inventory, employee compensation, intangible asset amortization, and depreciation) included in certain expense captions presented on the face of the statement of income. ASU 2024-03 is effective for fiscal years beginning after December 15, 2026 and interim reporting periods within fiscal years beginning one year later. Early adoption is permitted. The Company is currently evaluating the impact this guidance will have on the consolidated financial statements.

The FASB issued ASU 2025-05, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses for Accounts Receivable and Contract Assets. This amendment introduces a practical expedient, under which an entity may elect to assume that current conditions as of the balance sheet date do not change for the remaining life of the asset when developing reasonable and supportable forecasts as part of estimating expected credit losses. ASU 2025-05 is effective for fiscal years beginning after December 15, 2025 and interim reporting periods within those fiscal years. Early adoption is permitted. The Company is currently evaluating the impact this guidance will have on the consolidated financial statements.

The FASB issued ASU 2025-06, Intangibles - Goodwill and Other - Internal-Use Software (Subtopic 350-40): Targeted Improvements to the Accounting for Internal-Use Software. This amendment simplifies the software capitalization guidance by removing all references to software development project stages so that the guidance is neutral to different software development methods. ASU 2025-06 is effective

for fiscal years beginning after December 15, 2027, and interim reporting periods within those fiscal years, with early adoption permitted. The amendments in this update permit an entity to apply the new guidance using a prospective, retrospective or modified transition approach. The Company is currently evaluating the impact this guidance will have on the consolidated financial statements.

EARNINGS PER SHARE

12 Months Ended

Dec. 31, 2025

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net income for the year by the weighted average number of common shares outstanding for the period. In computing dilutive earnings per share, basic earnings per share is adjusted for the assumed issuance of all applicable potentially dilutive share-based awards, including common stock options, RSUs, RSAs and PSUs. Shares of treasury stock are not considered outstanding and therefore are excluded from the weighted-average number of common shares outstanding calculation.

Below are basic and diluted earnings per share for the periods indicated (in thousands, except for share data):


	Year Ended December 31,
	2025		2024		2023
Net income for basic and diluted income per common share	$	32,671	$	58,821	$	59,515
Shares:
Weighted-average common shares outstanding – basic	29,938,268		32,430,755		35,604,582
Effect of dilutive securities
Stock options	23,473		119,503		290,830
PSUs	88,049		159,146		366,321
RSUs	97,006		89,121		109,886
RSAs	34,398		51,972		58,095
Weighted-average common shares outstanding – diluted	30,181,194		32,850,497		36,429,714

Earnings per common share - basic	$	1.09	$	1.81	$	1.67
Earnings per common share - diluted	$	1.08	$	1.79	$	1.63

As of December 31, 2025, there were 30.0 thousand stock options, 206.3 thousand RSUs and 159.5 thousand RSAs excluded from the diluted earnings per share calculation because, under the treasury stock method, the inclusion of these would be anti-dilutive.

As of December 31, 2024, there were 241.1 thousand RSUs and 113.0 thousand RSAs excluded from the diluted earnings per share calculation because, under the treasury stock method, the inclusion of these would be anti-dilutive.

As of December 31, 2023, there were 144.2 thousand RSUs, 58.4 thousand RSAs, and 136.9 thousand PSUs excluded from the diluted earnings per share calculation because, under the treasury stock method, the inclusion of these would be anti-dilutive.

As discussed in Note 15, during the years ended December 31, 2025 and 2024, the Company purchased 1,348,214 shares and 3,765,320 shares, respectively, for an aggregate purchase price of $16.3 million and $75.1 million, respectively. The effect of these repurchases on the Company’s weighted average shares outstanding for the years ended December 31, 2025 and 2024 was a reduction of 916,155 and 1,775,956 shares, respectively, due to the timing of the repurchases.