0001628280-26-033174 | 10-Q | XBRL Viewer | International Money Express INC

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INCOME TAXES - Schedule of Reconciliation of Tax Provision (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Income Tax Paid, by Individual Jurisdiction [Line Items]
Income before income taxes	$ 1,466	$ 11,375
U.S statutory tax rate	21.00%	21.00%
Income tax expense at statutory rate	$ 308	$ 2,389
State and local income taxes, net of federal income tax effect	121	867
Other	76	(19)
Share-based compensation expenses	49	97
Non-deductible officer compensation expenses	41	155
Other non-deductible expenses	2	18
Total income tax provision	955	3,606
Mexico
Income Tax Paid, by Individual Jurisdiction [Line Items]
Statutory tax rate difference between Mexico and the United States	4	19
Return to provision adjustments	347	0
Other foreign tax jurisdiction
Income Tax Paid, by Individual Jurisdiction [Line Items]
Other	$ 7	$ 80

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Narrative (Details) - USD ($) $ in Millions	Mar. 31, 2026	Dec. 31, 2025
Receivables [Abstract]
Notes collateralized	$ 5.2	$ 5.0

REVENUES

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

REVENUES

The Company recognized revenues from contracts with customers, sending agents, digital partners and others for the three months ended March 31, 2026 and 2025, as follows (in thousands):


	Three Months Ended March 31,
		2026		2025
Wire transfer and money order fees		$	99,921	$	120,889
Discounts and promotions		(169)		(722)
Wire transfer and money order fees, net		99,752		120,167
Foreign exchange gain, net		16,320		20,181
Other income		5,880		3,962
Total revenues		$	121,952	$	144,310

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 9) 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 consumer’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 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.

Wire transfers and money order fees include money order fees of $0.5 million and $0.6 million for the three months ended March 31, 2026 and 2025, 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.

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+ Details

ACQUISITIONS

3 Months Ended

Mar. 31, 2026

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

ACQUISITIONS

Restructuring costs

For the three months ended March 31, 2025, the Company incurred $306.0 thousand (none in 2026) in restructuring costs primarily for a reduction of workforce in certain locations in connection with a restructuring plan implemented in 2024. 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 and develop efficiencies within the Company. These expenses primarily consisted of severance payments and related benefits, which are included in restructuring costs in the condensed consolidated statement of income and comprehensive income.

The following table presents the changes in our liability balance related to restructuring costs for the three months ended March 31, 2026 and 2025 (in thousands):


	Three Months Ended March 31, 2026				Three Months Ended March 31, 2025
	Severance costs		Legal and professional fees		Severance costs		Legal and professional fees
Beginning balance	$	253	$	7	$	300	$	16
Charges incurred	—		—		297		9
Payments/other	(208)		(7)		(528)		(25)
Ending balance	$	45	$	—	$	69	$	—

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 were $1.2 million for both the three months ended March 31, 2026 and 2025, respectively.

- Definition

The entire disclosure for business combination.

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+ Details

ACCRUED AND OTHER LIABILITIES - Schedule of Changes in Deferred Revenue Loyalty Program Liability (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Contract With Customer, Liability [Roll Forward]
Beginning balance	$ 0	$ 2,692
Revenue deferred during the period	0	141
Revenue recognized during the period	0	(794)
Ending balance	$ 0	$ 2,039

EQUITY (Details) $ in Thousands		3 Months Ended
EQUITY (Details) $ in Thousands	Mar. 12, 2025 USD ($) shares	Mar. 31, 2026 USD ($) shares	Mar. 31, 2025 USD ($) shares	Aug. 26, 2024 USD ($)	Mar. 03, 2023 USD ($)	Aug. 18, 2021 USD ($)
Schedule of Capitalization [Line Items]
Stock repurchase program, authorized amount						$ 40,000
Increase in shares authorized (in shares)				$ 63,800	$ 100,000
Treasury stock repurchased (in shares) \| shares	100,000	0	367,873
Value of treasury stock repurchased	$ 1,300		$ 4,981
Stock repurchase program, remaining authorized repurchase amount		$ 48,300
A&R Credit Agreement
Schedule of Capitalization [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
A&R Credit Agreement \| Maximum
Schedule of Capitalization [Line Items]
Leverage ratio, restricted payments		2.50

SEGMENT REPORTING - Schedule of Segment Reporting Information, by Segment (Details) - USD ($)	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	$ 121,952,000	$ 144,310,000
Salaries and benefits	18,890,000	18,288,000
Provision for credit losses	2,891,000	2,066,000
Restructuring costs	0	306,000
Transaction costs	1,166,000	1,169,000
Depreciation and amortization	4,685,000	3,629,000
Total operating expenses	118,278,000	130,235,000
Operating income	3,674,000	14,075,000
Interest expense	2,208,000	2,700,000
Income before income taxes	1,466,000	11,375,000
Income tax provision	955,000	3,606,000
Net income	511,000	7,769,000
Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	121,952,000	144,310,000
Agent commissions	51,158,000	61,163,000
Payer commissions	18,827,000	23,811,000
Bank charges and fees	5,614,000	6,594,000
Salaries and benefits	18,890,000	18,288,000
Other segment items	15,047,000	13,209,000
Provision for credit losses	2,891,000	2,066,000
Restructuring costs	0	306,000
Transaction costs	1,166,000	1,169,000
Depreciation and amortization	4,685,000	3,629,000
Total operating expenses	118,278,000	130,235,000
Operating income	3,674,000	14,075,000
Interest expense	2,208,000	2,700,000
Income before income taxes	1,466,000	11,375,000
Income tax provision	955,000	3,606,000
Net income	511,000	7,769,000
Wire transfer and money order fees, net
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	99,752,000	120,167,000
Wire transfer and money order fees, net \| Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	99,752,000	120,167,000
Foreign exchange gain, net
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	16,320,000	20,181,000
Foreign exchange gain, net \| Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	16,320,000	20,181,000
Other income
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	5,880,000	3,962,000
Other income \| Reportable Segment
Segment Reporting, Revenue Reconciling Item [Line Items]
Total revenues	$ 5,880,000	$ 3,962,000

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Schedule of Maturities of Agent Advances Receivable (Details) $ in Thousands	Mar. 31, 2026 USD ($)
Receivables [Abstract]
Under 1 year	$ 2,042
Between 1 and 2 years	2,178
More than 2 years	991
Total	$ 5,211

- Definition

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

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+ Details

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET

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


	March 31, 2026		December 31, 2025
Wire transfers payable, net	$	21,340	$	26,708
Customer voided wires payable	34,464		34,298
Money orders payable	28,297		26,534
	$	84,101	$	87,540

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.

BUSINESS AND ACCOUNTING POLICIES (Policies)	3 Months Ended
BUSINESS AND ACCOUNTING POLICIES (Policies)	Mar. 31, 2026
Accounting Policies [Abstract]
Basis of Accounting	The accompanying condensed consolidated financial statements of the Company include 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 condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The Company’s interim condensed consolidated financial statements and related notes are unaudited. In the opinion of management, all adjustments (including normal recurring adjustments) and disclosures necessary for a fair presentation of these interim condensed consolidated financial statements have been included. The results reported in these interim condensed consolidated financial statements are not necessarily indicative of the results that may be reported for the entire year. Certain information and footnote disclosures required by GAAP have been condensed or omitted. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025.
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.
Accounting Pronouncements	Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued guidance, 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 2025-06, 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.

GOODWILL AND INTANGIBLE ASSETS (Tables)

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

Schedule of Changes in Goodwill and Intangible Assets

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


	Goodwill		Intangibles
Balance at December 31, 2025	$	53,986	$	25,404


Amortization expense	—		(1,032)
Balance at March 31, 2026	$	53,986	$	24,372

Schedule of Amortization Expense Related to Intangible Assets

Amortization expense related to intangible assets for the remainder of 2026 and thereafter is as follows (in thousands):


2026	$	3,035
2027	3,492
2028	3,010
2029	2,619
2030	2,340
Thereafter	9,876
	$	24,372

REVENUES - Schedule of Revenues from Contracts with Customers (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Disaggregation of Revenue [Line Items]
Total revenues	$ 121,952	$ 144,310
Wire transfer and money order fees, net
Disaggregation of Revenue [Line Items]
Wire transfer and money order fees	99,921	120,889
Discounts and promotions	(169)	(722)
Total revenues	99,752	120,167
Foreign exchange gain, net
Disaggregation of Revenue [Line Items]
Total revenues	16,320	20,181
Other income
Disaggregation of Revenue [Line Items]
Total revenues	$ 5,880	$ 3,962

- 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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- 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

FAIR VALUE MEASUREMENTS (Tables)

3 Months Ended

Mar. 31, 2026

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):


	March 31, 2026
	Level 1		Level 2		Level 3

Cash and cash equivalents	$	170,324	$	—	$	—
Accounts receivable	—		106,278		—
Agent advances	—		4,580		—
Prepaid wires	—		106,532		—
Total assets	$	170,324	$	217,390	$	—
Accounts payable	$	—	$	15,380	$	—
Wire transfers and money orders payable	—		84,101		—
Revolving credit facility	—		240,814		—
Total liabilities	$	—	$	340,295	$	—


	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	$	—

BUSINESS AND ACCOUNTING POLICIES (Details)	3 Months Ended
BUSINESS AND ACCOUNTING POLICIES (Details)	Mar. 31, 2026 store state	Aug. 10, 2025 $ / shares
Business Combination [Line Items]
Number of company-operated stores \| store	114
Number of states, transmissions approved \| state	51
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.

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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
-Topic 805
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Reference 40: http://www.xbrl.org/2003/role/disclosureRef
-Topic 805
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-Paragraph 2
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Reference 41: http://www.xbrl.org/2003/role/disclosureRef
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-Topic 805
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-URI https://asc.fasb.org/1943274/2147479328/805-10-50-2

+ Details

EARNINGS PER SHARE (Tables)

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

Schedule of Basic and Diluted Earnings Per Share

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


	Three Months Ended March 31,
		2026		2025

Net income		$	511	$	7,769

Shares:
Weighted-average common shares outstanding – basic		29,858,890		30,587,949
Effect of dilutive securities
RSUs		179,418		97,342
Stock options		31,942		44,316
RSAs		51,730		53,495
PSUs		260,837		48,531
Weighted-average common shares outstanding – diluted		30,382,817		30,831,633

Earnings per common share – basic		$	0.02	$	0.25
Earnings per common share – diluted		$	0.02	$	0.25

SHARE-BASED COMPENSATION (Tables)

3 Months Ended

Mar. 31, 2026

Share-Based Payment Arrangement [Abstract]

Schedule of schedule ofschedule ofStock Option Activity

A summary of stock option activity under the Plans during the three months ended March 31, 2026 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, 2025	146,125	$	12.21	3.38	$	4.38
Granted	—	$	—		$	—
Exercised	—	$	—		$	—
Forfeited	—	$	—		$	—
Expired	—	$	—		$	—
Outstanding at March 31, 2026	146,125	$	12.21	3.14	$	4.38

Exercisable at March 31, 2026(1)	146,125	$	12.21	3.14	$	4.38

(1) The aggregate fair value of all vested/exercisable options outstanding as of March 31, 2026 was $0.6 million, which was determined based on the market value of our stock as of that date.

Schedule of RSU Activity

A summary of RSU activity during the three months ended March 31, 2026 is presented below:


	Number of RSUs	Weighted-Average Grant Price
Outstanding (nonvested) at December 31, 2025	591,538	$	17.17
Granted(1)	336,969	$	15.55
Vested	(129,760)	$	18.90
Forfeited	(5,889)	$	15.07
Outstanding (nonvested) at March 31, 2026	792,858	$	16.21

(1) The aggregate fair value of all RSUs granted during the three months ended March 31, 2026 was approximately $5.2 million.

Schedule of RSA Activity

A summary of RSA activity during the three months ended March 31, 2026 is presented below:


	Number of RSAs	Weighted-Average Grant Price
Outstanding (nonvested) at December 31, 2025	257,169	$	20.12
Granted(1)	301,957	$	15.55
Vested	(99,015)	$	19.96
Forfeited	—	$	—
Outstanding (nonvested) at March 31, 2026	460,111	$	17.16

(1) The aggregate fair value of all RSAs granted during the three months ended March 31, 2026 was approximately $4.7 million, which was determined based on the market value of our stock as of that date.

Schedule of PSU Activity

A summary of PSU activity during the three months ended March 31, 2026 is presented below:


	Number of PSUs	Weighted-Average Remaining Contractual Term (Years)	Weighted-Average Grant Price
Outstanding (nonvested) at December 31, 2025	506,942	8.56	$	14.70
Granted	—		$	—
Vested/accelerated	—		$	—
Forfeited	—		$	—
Outstanding (nonvested) at March 31, 2026	506,942	8.66	$	14.70

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE

3 Months Ended

Mar. 31, 2026

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):


	March 31, 2026		December 31, 2025
Accounts receivable	$	111,115	$	110,899
Allowance for credit losses	(4,837)		(5,530)
Accounts receivable, net	$	106,278	$	105,369

Agent Advances Receivable

Agent advances receivable, net of allowance for credit losses, from sending agents is as follows (in thousands):


	March 31, 2026		December 31, 2025
Agent advances receivable, current	$	2,042	$	2,001
Allowance for credit losses	(246)		(203)
Net current	$	1,796	$	1,798

Agent advances receivable, long-term	$	3,169	$	2,960
Allowance for credit losses	(385)		(264)
Net long-term	$	2,784	$	2,696

The net current portion of agent advances receivable is included in prepaid expenses and other current assets (see Note 5), and the net long-term portion is included in other assets (see Note 5) in the condensed consolidated balance sheets. At March 31, 2026 and December 31, 2025, there were $5.2 million and $5.0 million, respectively, of agent advances receivable collateralized by personal guarantees from sending agents and assets from their businesses in case of a default by the agent.

The maturities of agent advances receivable at March 31, 2026 are as follows (in thousands):


	Outstanding Balance
Under 1 year	$	2,042
Between 1 and 2 years	2,178
More than 2 years	991
Total	$	5,211

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):


	Three Months Ended March 31,
		2026		2025
Beginning balance		$	5,997	$	3,836
Provision		2,891		2,066
Charge-offs		(3,615)		(1,757)
Recoveries		337		170
Other		(142)		117
Ending Balance		$	5,468	$	4,432

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


	March 31, 2026		December 31, 2025
Accounts receivable	$	4,837	$	5,530
Agent advances receivable	631		467
Allowance for credit losses	$	5,468	$	5,997

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET (Tables)

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

Schedule of Wire Transfer and Money Orders Payable

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


	March 31, 2026		December 31, 2025
Wire transfers payable, net	$	21,340	$	26,708
Customer voided wires payable	34,464		34,298
Money orders payable	28,297		26,534
	$	84,101	$	87,540

ACQUISITIONS - Narrative (Details) - USD ($)	3 Months Ended
ACQUISITIONS - Narrative (Details) - USD ($)	Mar. 31, 2026	Mar. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]
Restructuring costs	$ 0	$ 306,000
Transaction costs	$ 1,166,000	$ 1,169,000

- 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

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Schedule of Agent Advances Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Receivables [Abstract]
Agent advances receivable, current	$ 2,042	$ 2,001
Allowance for credit losses	(246)	(203)
Net current	1,796	1,798
Agent advances receivable, long-term	3,169	2,960
Allowance for credit losses	(385)	(264)
Net long-term	$ 2,784	$ 2,696

PREPAID EXPENSES AND OTHER ASSETS (Tables)

3 Months Ended

Mar. 31, 2026

Prepaid Expense and Other Assets [Abstract]

Schedule of Prepaid Expenses and Other Current Assets

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


	March 31, 2026		December 31, 2025
Prepaid insurance	$	721	$	1,343
Prepaid fees and services	2,450		3,057
Agent incentive advances	1,973		2,166
Agent advances receivable, net of allowance	1,796		1,798
Prepaid marketing expenditures	1,859		1,318
Prepaid income taxes	8,315		8,123

Prepaid expenses and other current assets	2,124		1,806
	$	19,238	$	19,611

Schedule of Other Assets

Other assets consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
Revolving credit facility origination fees	$	3,340	$	3,593
Agent incentive advances	1,385		1,750
Agent advances receivable, net of allowance	2,784		2,696
Right-of-use assets, net	15,660		15,878
Funds held by seized banking entities, net of allowance	1,765		1,774
Other assets	1,681		2,302
	$	26,615	$	27,993

ACCRUED AND OTHER LIABILITIES - Schedule of Accrued and Other Liabilities (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Payables and Accruals [Abstract]
Commissions payable to sending agents	$ 15,138	$ 16,381
Accrued salaries and benefits	4,318	3,785
Accrued bank charges	2,751	3,225
Lease liability, current portion	6,109	6,207
Accrued professional fees	1,043	2,156
Accrued taxes	9,475	1,940
Acquisition related liabilities	150	150
Accrued transaction costs	134	84
Other	3,235	4,172
Accrued and other liabilities	$ 42,353	$ 38,100

FAIR VALUE MEASUREMENTS - Schedule of Financial Instruments Categorized by Fair Value Hierarchy (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Level 1
Fair Value Disclosure, Asset and Liability, Not Measured at Fair Value [Line Items]
Cash and cash equivalents	$ 170,324	$ 168,682
Accounts receivable	0	0
Agent advances	0	0
Prepaid wires	0	0
Total assets	170,324	168,682
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	106,278	105,369
Agent advances	4,580	4,494
Prepaid wires	106,532	59,497
Total assets	217,390	169,360
Accounts payable	15,380	15,317
Wire transfers and money orders payable	84,101	87,540
Revolving credit facility	240,814	194,814
Total liabilities	340,295	297,671
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

Insider Trading Arrangements	3 Months Ended
Insider Trading Arrangements	Mar. 31, 2026
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

SEGMENT REPORTING (Tables)

3 Months Ended

Mar. 31, 2026

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:


	Three Months Ended March 31,
		2026		2025
Revenues:
Wire transfer and money order fees, net		$	99,752	$	120,167
Foreign exchange gain, net		16,320		20,181
Other income		5,880		3,962
Total revenues		121,952		144,310

Less:
Agent commissions		51,158		61,163
Payer commissions		18,827		23,811
Bank charges and fees		5,614		6,594
Salaries and benefits		18,890		18,288
Other segment items (1)		15,047		13,209
Provision for credit losses		2,891		2,066
Restructuring costs		—		306
Transaction costs		1,166		1,169
Depreciation and amortization		4,685		3,629
Total operating expenses		118,278		130,235

Operating income		3,674		14,075

Interest expense		2,208		2,700

Income before income taxes		1,466		11,375

Income tax provision		955		3,606

Net income		$	511	$	7,769

(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.

DEBT - Schedule of Debt Instruments (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Debt Instrument [Line Items]
Long-term debt, noncurrent	$ 240,814	$ 194,825
Other
Debt Instrument [Line Items]
Long-term debt, gross	0	11
Revolving credit facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 240,814	$ 194,814

- 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

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
-Topic 815
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Reference 2: http://www.xbrl.org/2003/role/disclosureRef
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Reference 3: http://www.xbrl.org/2009/role/commonPracticeRef
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+ Details

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025	Mar. 31, 2025	Dec. 31, 2024
Receivables [Abstract]
Accounts receivable	$ 4,837	$ 5,530
Agent advances receivable	631	467
Allowance for credit losses	$ 5,468	$ 5,997	$ 4,432	$ 3,836

- Definition

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

+ References + Details

FAIR VALUE MEASUREMENTS

3 Months Ended

Mar. 31, 2026

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):


	March 31, 2026
	Level 1		Level 2		Level 3

Cash and cash equivalents	$	170,324	$	—	$	—
Accounts receivable	—		106,278		—
Agent advances	—		4,580		—
Prepaid wires	—		106,532		—
Total assets	$	170,324	$	217,390	$	—
Accounts payable	$	—	$	15,380	$	—
Wire transfers and money orders payable	—		84,101		—
Revolving credit facility	—		240,814		—
Total liabilities	$	—	$	340,295	$	—


	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	$	—

- 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)
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Reference 2: http://www.xbrl.org/2003/role/exampleRef
-Topic 820
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Reference 3: http://www.xbrl.org/2003/role/exampleRef
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Reference 4: http://www.xbrl.org/2003/role/disclosureRef
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Reference 6: http://www.xbrl.org/2003/role/disclosureRef
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Reference 7: 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 12: http://www.xbrl.org/2003/role/disclosureRef
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+ Details

REVENUES - Narrative (Details)	3 Months Ended
REVENUES - Narrative (Details)	Mar. 31, 2026 USD ($) point obligation	Mar. 31, 2025 USD ($)
Revenue from Contract with Customer [Abstract]
Significant initial costs incurred to obtain contracts with customers	$ 0
Point earned for each wire transfer processed \| point	1
Number of performance obligation \| obligation	1
Money order fees	$ 500,000	$ 600,000

LEASES - Schedule of Future Minimum Lease Payments (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Leases [Abstract]
2026	$ 5,006
2027	5,170
2028	3,534
2029	2,298
2030	2,226
Thereafter	7,575
Total lease payments	25,809
Less: Imputed interest	(4,341)
Present value of lease liabilities	$ 21,468	$ 21,690

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details)	3 Months Ended
GOODWILL AND INTANGIBLE ASSETS - Narrative (Details)	Mar. 31, 2026 USD ($)
Finite-Lived Intangible Assets, Net [Abstract]
Goodwill and intangible asset impairment	$ 0
Agent Relationships
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets amortization period, under accelerated method	15 years
Trade Names
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets amortization period, under accelerated method	15 years
Developed Technology Rights
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets amortization period, under accelerated method	15 years
Number of development years for state-of-the-art system	20 years
Other Intangible Assets
Finite-Lived Intangible Assets, Net [Abstract]
Intangible asset, useful life	10 years
Non-Competition Agreements
Finite-Lived Intangible Assets, Net [Abstract]
Intangible asset, useful life	5 years

LEASES - Schedule of Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Leases [Abstract]
Operating lease cost	$ 1,798	$ 1,745

PREPAID EXPENSES AND OTHER ASSETS - Schedule of Other Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Prepaid Expense and Other Assets [Abstract]
Revolving credit facility origination fees	$ 3,340	$ 3,593
Agent incentive advances	1,385	1,750
Agent advances receivable, net of allowance	2,784	2,696
Right-of-use assets, net	15,660	15,878
Funds held by seized banking entities, net of allowance	1,765	1,774
Other assets	1,681	2,302
Other assets	$ 26,615	$ 27,993

DEBT

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

DEBT

Debt consisted primarily of the following (in thousands):


	March 31, 2026		December 31, 2025
Revolving credit facility	$	240,814	$	194,814
Other	—		11



	$	240,814	$	194,825

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.

On August 29, 2024, the Company entered into a Second Amended and Restated Credit Agreement (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.

The unamortized portion of debt origination costs primarily related to the Second A&R Credit Agreement totaled approximately $3.3 million and $3.6 million at March 31, 2026 and December 31, 2025, respectively. Amortization of debt origination costs is included as a component of interest expense in the condensed consolidated statements of income and comprehensive income and amounted to approximately $0.3 million for both the three months ended March 31, 2026 and 2025.

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) the 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 revolving credit facility was 2.10% and 2.57% for the three months ended March 31, 2026 and 2025, respectively.

The Second A&R Credit Agreement also provides the Company with increased flexibility to make certain restricted payments, including the repurchase of 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 March 31, 2026, we were 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
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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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+ Details

COVER - shares	3 Months Ended
COVER - shares	Mar. 31, 2026	May 06, 2026
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Mar. 31, 2026
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.
Entity Address, Address Line Two	Suite 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 Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		30,094,492
Central Index Key	0001683695
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2026
Document Fiscal Period Focus	Q1

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Schedule of Changes in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 5,997	$ 3,836
Provision	2,891	2,066
Charge-offs	(3,615)	(1,757)
Recoveries	337	170
Other	(142)	117
Ending Balance	$ 5,468	$ 4,432

EQUITY	3 Months Ended
EQUITY	Mar. 31, 2026
Equity [Abstract]
EQUITY	EQUITY On August 18, 2021, the Company’s Board of Directors approved a stock repurchase program that authorized the Company to purchase up to $40.0 million of outstanding shares of the Company’s common stock and 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 three months ended March 31, 2026, there were no share repurchases. During the three months ended March 31, 2025, including the shares previously mentioned, the Company purchased 367,873 shares for an aggregate purchase price of $5.0 million. As of March 31, 2026, 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

PREPAID EXPENSES AND OTHER ASSETS - Schedule of Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Prepaid Expense and Other Assets [Abstract]
Prepaid insurance	$ 721	$ 1,343
Prepaid fees and services	2,450	3,057
Agent incentive advances	1,973	2,166
Agent advances receivable, net of allowance	1,796	1,798
Prepaid marketing expenditures	1,859	1,318
Prepaid income taxes	8,315	8,123
Prepaid expenses and other current assets	2,124	1,806
Prepaid expenses and other assets	$ 19,238	$ 19,611

COMMITMENTS AND CONTINGENCIES	3 Months Ended
COMMITMENTS AND CONTINGENCIES	Mar. 31, 2026
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. 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 March 31, 2026, the Company’s subsidiaries were in compliance with these requirements.

ACQUISITIONS - Schedule of Restructuring Reserve by Type of Cost (Details) - USD ($)	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Restructuring Reserve [Roll Forward]
Charges incurred	$ 0	$ 306,000
Severance costs \| Foreign Operations and La Nacional
Restructuring Reserve [Roll Forward]
Beginning balance	253,000	300,000
Charges incurred	0	297,000
Payments/other	(208,000)	(528,000)
Ending balance	45,000	69,000
Legal and professional fees \| Foreign Operations and La Nacional
Restructuring Reserve [Roll Forward]
Beginning balance	7,000	16,000
Charges incurred	0	9,000
Payments/other	(7,000)	(25,000)
Ending balance	$ 0	$ 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

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Schedule of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Receivables [Abstract]
Accounts receivable	$ 111,115	$ 110,899
Allowance for credit losses	(4,837)	(5,530)
Accounts receivable, net	$ 106,278	$ 105,369

EARNINGS PER SHARE

3 Months Ended

Mar. 31, 2026

Earnings Per Share [Abstract]

EARNINGS PER SHARE

Basic earnings per share is calculated by dividing net income for the period 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):


	Three Months Ended March 31,
		2026		2025

Net income		$	511	$	7,769

Shares:
Weighted-average common shares outstanding – basic		29,858,890		30,587,949
Effect of dilutive securities
RSUs		179,418		97,342
Stock options		31,942		44,316
RSAs		51,730		53,495
PSUs		260,837		48,531
Weighted-average common shares outstanding – diluted		30,382,817		30,831,633

Earnings per common share – basic		$	0.02	$	0.25
Earnings per common share – diluted		$	0.02	$	0.25

As of March 31, 2026, there were approximately 382.3 thousand RSUs and 339.9 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 March 31, 2025, there were approximately 300.3 thousand RSUs and 168.0 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 discussed in Note 13, the Company repurchased 367,873 shares of its common stock in the three months ended March 31, 2025 (none in 2026).

LEASES (Tables)

3 Months Ended

Mar. 31, 2026

Leases [Abstract]

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

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


Leases	Classification	March 31, 2026		December 31, 2025
Assets
Right-of-use assets	Other assets(1)	$	15,660	$	15,878
Total leased assets		$	15,660	$	15,878

Liabilities
Current
Operating	Accrued and other liabilities	$	6,109	$	6,207
Noncurrent
Operating	Lease liabilities	15,359		15,483
Total Lease liabilities		$	21,468	$	21,690

(1) Operating right-of-use assets are recorded net of accumulated amortization of $14.6 million and $16.9 million as of March 31, 2026 and December 31, 2025, respectively.

Schedule of Lease Expense

Operating lease cost for the three months ended March 31, 2026 and 2025, respectively, was as follows (in thousands):


	Three Months Ended March 31,
Lease Cost		2026		2025
Operating lease cost (2)		$	1,798	$	1,745

(2) Operating lease cost is included in other selling, general and administrative expenses in the condensed consolidated statements of income and comprehensive income for the three months ended March 31, 2026 and 2025.

Schedule of Future Minimum Lease Payments

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


2026	$	5,006
2027	5,170
2028	3,534
2029	2,298
2030	2,226
Thereafter	7,575
Total lease payments	25,809
Less: Imputed interest	(4,341)
Present value of lease liabilities	$	21,468

GOODWILL AND INTANGIBLE ASSETS

3 Months Ended

Mar. 31, 2026

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETS

Goodwill and the majority of intangible assets on the condensed consolidated balance sheets of the Company were recognized from business acquisition transactions. Intangible assets on the condensed consolidated balance sheets of the Company consist of agent relationships, trade names, developed technology and other intangible assets. Agent relationships, trade names and developed technology are amortized over their estimated useful lives of up to 15 years using an accelerated method that correlates with the projected realization of the benefit. The agent relationships intangible represents the network of independent sending agents; trade names refers to the Intermex, La Nacional, Amigo Paisano and I-Transfer names, branded on all applicable agent locations and well recognized in the market; and developed technology includes the state-of-the-art system that the Company has continued to develop and improve over the past 20 years. Other intangible assets relate to the acquisition of Company-operated stores, which are amortized on a straight-line basis over 10 years, and non-competition agreements, which are amortized over the length of the agreement, typically 5 years. The determination of our intangible fair values includes several assumptions that are subject to various risks and uncertainties. Management believes it has made reasonable estimates and judgments concerning these risks and uncertainties, and no impairment charges were determined necessary to be recognized during the three months ended March 31, 2026.

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


	Goodwill		Intangibles
Balance at December 31, 2025	$	53,986	$	25,404


Amortization expense	—		(1,032)
Balance at March 31, 2026	$	53,986	$	24,372

Amortization expense related to intangible assets for the remainder of 2026 and thereafter is as follows (in thousands):


2026	$	3,035
2027	3,492
2028	3,010
2029	2,619
2030	2,340
Thereafter	9,876
	$	24,372

DEBT - Narrative (Details) - USD ($)	3 Months Ended
DEBT - Narrative (Details) - USD ($)	Mar. 31, 2026	Mar. 31, 2025	Dec. 31, 2025	Aug. 29, 2024
Debt Instrument [Line Items]
Debt origination costs amortization	$ 254,000	$ 256,000
Second A&R Credit Agreement
Debt Instrument [Line Items]
Debt instrument, covenant, restricted payment threshold	$ 30,300,000
Debt instrument, covenant, restricted payment threshold, percent of EBITDA	25.00%
Second A&R Credit Agreement \| Minimum
Debt Instrument [Line Items]
Fixed charge coverage ratio	3.00
Maximum consolidated leverage ratio	3.50
Second A&R Credit Agreement \| Maximum
Debt Instrument [Line Items]
Leverage ratio, restricted payments	2.50
Maximum 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%
Second A&R Credit Agreement \| Other
Debt Instrument [Line Items]
Commitment fee	0.30%
A&R Credit Agreement
Debt Instrument [Line Items]
Unamortized debt origination costs	$ 3,300,000		$ 3,600,000
Debt origination costs amortization	300,000	$ 300,000
Debt instrument, covenant, restricted payment threshold	$ 30,300,000
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
Revolving credit facility \| Second A&R Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 425,000,000.0
Revolving credit facility \| A&R Credit Agreement
Debt Instrument [Line Items]
Effective interest rate	2.10%	2.57%
Uncommitted Incremental Facility \| Second A&R Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 100,000,000.0

PREPAID EXPENSES AND OTHER ASSETS - Narrative (Details) - Mexico - USD ($) $ in Millions	3 Months Ended
	Mar. 31, 2026	Dec. 31, 2021
Prepaid Expense And Other Assets [Line Items]
Cash and cash equivalents		$ 6.1
Valuation allowance	$ 4.3

- 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.

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+ Details

SHARE-BASED COMPENSATION - Narrative (Details)		3 Months Ended
SHARE-BASED COMPENSATION - Narrative (Details)	Jun. 20, 2025 shares	Mar. 31, 2026 USD ($) shares	Mar. 31, 2025 USD ($)	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
Award vesting period		4 years
Share-based compensation expense		$ 0	$ 0
Stock options \| Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting of award		25.00%
Stock options \| Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting of award		25.00%
Stock options \| Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting of award		25.00%
Stock options \| Share-Based Payment Arrangement, Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting of award		25.00%
Stock options \| 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock approved for issuance (in shares) \| shares				3,700,000
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
Stock options \| A&R 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock approved for issuance (in shares) \| shares		2,800,000
Number of additional shares authorized (in shares) \| shares	2,500,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 1,200,000	900,000
Unrecognized compensation expense		$ 11,200,000
Weighted-average period for recognition		2 years
RSUs \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
RSUs \| Employees \| Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting of award		25.00%
RSUs \| Employees \| Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting of award		25.00%
RSUs \| Employees \| Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting of award		25.00%
RSUs \| Employees \| Share-Based Payment Arrangement, Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting of award		25.00%
RSUs \| Independent Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		1 year
RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense		$ 600,000	500,000
Unrecognized compensation expense		$ 7,600,000
Weighted-average period for recognition		2 years 1 month 6 days
RSAs \| Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		4 years
RSAs \| Employees \| Share-Based Payment Arrangement, Tranche One
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting of award		25.00%
RSAs \| Employees \| Share-Based Payment Arrangement, Tranche Three
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting of award		25.00%
RSAs \| Employees \| Share-Based Payment Arrangement, Tranche Two
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting of award		25.00%
RSAs \| Employees \| Share-Based Payment Arrangement, Tranche Four
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Percentage of vesting of award		25.00%
RSAs \| Independent Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 months
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period		3 years
Share-based compensation expense		$ 700,000	$ 300,000
Unrecognized compensation expense		$ 3,500,000
Weighted-average period for recognition		1 year 6 months
Conversion ratio		1
Award service period		3 years

GOODWILL AND INTANGIBLE ASSETS - Schedule of Changes in Goodwill and Intangible Assets (Details) $ in Thousands	3 Months Ended
	Mar. 31, 2026 USD ($)
Goodwill
Beginning balance	$ 53,986
Ending balance	53,986
Intangibles
Beginning balance	25,404
Amortization expense	(1,032)
Ending balance	$ 24,372

- Definition

The aggregate expense charged against earnings to allocate the cost of intangible assets (nonphysical assets not used in production) in a systematic and rational manner to the periods expected to benefit from such assets.

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- Definition

Amount, after accumulated impairment loss, of 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.

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+ Details

GOODWILL AND INTANGIBLE ASSETS - Schedule of Amortization Expense Related to Intangible Assets (Details) $ in Thousands	Mar. 31, 2026 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2026	$ 3,035
2027	3,492
2028	3,010
2029	2,619
2030	2,340
Thereafter	9,876
Net amortizable intangible assets	$ 24,372

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 170,324	$ 168,682
Accounts receivable, net of allowance of $4,837 and $5,530, respectively	106,278	105,369
Prepaid wires, net	106,532	59,497
Prepaid expenses and other current assets	19,238	19,611
Total current assets	402,372	353,159
Property and equipment, net	58,597	57,149
Goodwill	53,986	53,986
Intangible assets, net	24,372	25,404
Other assets	26,615	27,993
Total assets	565,942	517,691
Current liabilities:
Accounts payable	15,380	15,317
Wire transfers and money orders payable, net	84,101	87,540
Accrued and other liabilities	42,353	38,100
Total current liabilities	141,834	140,957
Long-term liabilities:
Debt, net	240,814	194,825
Lease liabilities, net	15,359	15,483
Deferred tax liability, net	5,243	5,372
Total long-term liabilities	261,416	215,680
Commitments and contingencies, see Note 17
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, 41,078,827 and 40,682,683 shares issued and 30,115,259 and 29,719,115 shares outstanding as of March 31, 2026 and December 31, 2025, respectively	4	4
Additional paid-in capital	89,433	87,835
Retained earnings	290,652	290,141
Accumulated other comprehensive (loss) income	(367)	104
Treasury stock, at cost; 10,963,568 shares as of both March 31, 2026 and December 31, 2025, respectively	(217,030)	(217,030)
Total stockholders’ equity	162,692	161,054
Total liabilities and stockholders’ equity	$ 565,942	$ 517,691

LEASES - Narrative (Details)	Mar. 31, 2026	Dec. 31, 2025
Leases [Abstract]
Operating lease, weighted average remaining lease terms	5 years 10 months 24 days	6 years 2 months 12 days
Operating lease, weighted average discount rate	6.36%	6.48%

SHARE-BASED COMPENSATION - RSU, RSA, and PSU Activity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	12 Months Ended
	Mar. 31, 2026	Dec. 31, 2025
RSUs
Number
Outstanding beginning balance (in shares)	591,538
Granted (in shares)	336,969
Vested/accelerated (in shares)	(129,760)
Forfeited (in shares)	(5,889)
Outstanding ending balance (in shares)	792,858	591,538
Weighted-Average Grant Price
Nonvested at beginning of period (in dollars per share)	$ 17.17
Granted (in dollars per share)	15.55
Vested/accelerated (in dollars per share)	18.90
Forfeited (in dollars per share)	15.07
Nonvested at end of period (in dollars per share)	$ 16.21	$ 17.17
Aggregate fair value of awards granted	$ 5.2
RSAs
Number
Outstanding beginning balance (in shares)	257,169
Granted (in shares)	301,957
Vested/accelerated (in shares)	(99,015)
Forfeited (in shares)	0
Outstanding ending balance (in shares)	460,111	257,169
Weighted-Average Grant Price
Nonvested at beginning of period (in dollars per share)	$ 20.12
Granted (in dollars per share)	15.55
Vested/accelerated (in dollars per share)	19.96
Forfeited (in dollars per share)	0
Nonvested at end of period (in dollars per share)	$ 17.16	$ 20.12
Aggregate fair value of awards granted	$ 4.7
PSUs
Number
Outstanding beginning balance (in shares)	506,942
Granted (in shares)	0
Vested/accelerated (in shares)	0
Forfeited (in shares)	0
Outstanding ending balance (in shares)	506,942	506,942
Weighted-Average Remaining Contractual Term (Years)	8 years 7 months 28 days	8 years 6 months 21 days
Weighted-Average Grant Price
Nonvested at beginning of period (in dollars per share)	$ 14.70
Granted (in dollars per share)	0
Vested/accelerated (in dollars per share)	0
Forfeited (in dollars per share)	0
Nonvested at end of period (in dollars per share)	$ 14.70	$ 14.70

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Revenues:
Total revenues	$ 121,952,000	$ 144,310,000
Operating expenses:
Service charges from agents and banks	79,091,000	93,788,000
Salaries and benefits	18,890,000	18,288,000
Other selling, general and administrative expenses	11,555,000	10,989,000
Provision for credit losses	2,891,000	2,066,000
Restructuring costs	0	306,000
Transaction costs	1,166,000	1,169,000
Depreciation and amortization	4,685,000	3,629,000
Total operating expenses	118,278,000	130,235,000
Operating income	3,674,000	14,075,000
Interest expense	2,208,000	2,700,000
Income before income taxes	1,466,000	11,375,000
Income tax provision	955,000	3,606,000
Net income	511,000	7,769,000
Other comprehensive (loss) income	(471,000)	348,000
Comprehensive income	$ 40,000	$ 8,117,000
Earnings per common share:
Basic (in dollars per share)	$ 0.02	$ 0.25
Diluted (in dollars per share)	$ 0.02	$ 0.25
Weighted-average common shares outstanding:
Basic (in shares)	29,858,890	30,587,949
Diluted (in shares)	30,382,817	30,831,633
Wire transfer and money order fees, net
Revenues:
Total revenues	$ 99,752,000	$ 120,167,000
Foreign exchange gain, net
Revenues:
Total revenues	16,320,000	20,181,000
Other income
Revenues:
Total revenues	$ 5,880,000	$ 3,962,000

ACCRUED AND OTHER LIABILITIES

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

ACCRUED AND OTHER LIABILITIES

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


	March 31, 2026		December 31, 2025
Commissions payable to sending agents	$	15,138	$	16,381
Accrued salaries and benefits	4,318		3,785
Accrued bank charges	2,751		3,225
Lease liability, current portion	6,109		6,207
Accrued professional fees	1,043		2,156
Accrued taxes	9,475		1,940


Acquisition related liabilities	150		150
Accrued transaction costs	134		84
Other	3,235		4,172
	$	42,353	$	38,100

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


	Three Months Ended March 31,
		2026		2025
Beginning balance		$	—	$	2,692
Revenue deferred during the period		—		141
Revenue recognized during the period		—		(794)
Ending balance		$	—	$	2,039

INCOME TAXES - Narrative (Details)	Mar. 31, 2026 USD ($)
Domestic Tax Authority
Valuation Allowance [Line Items]
Valuation allowance	$ 0
State and Local Jurisdiction
Valuation Allowance [Line Items]
Valuation allowance	$ 0

LEASES

3 Months Ended

Mar. 31, 2026

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 condensed consolidated balance sheets is as follows (in thousands):


Leases	Classification	March 31, 2026		December 31, 2025
Assets
Right-of-use assets	Other assets(1)	$	15,660	$	15,878
Total leased assets		$	15,660	$	15,878

Liabilities
Current
Operating	Accrued and other liabilities	$	6,109	$	6,207
Noncurrent
Operating	Lease liabilities	15,359		15,483
Total Lease liabilities		$	21,468	$	21,690

(1) Operating right-of-use assets are recorded net of accumulated amortization of $14.6 million and $16.9 million as of March 31, 2026 and December 31, 2025, respectively.

Operating lease cost for the three months ended March 31, 2026 and 2025, respectively, was as follows (in thousands):


	Three Months Ended March 31,
Lease Cost		2026		2025
Operating lease cost (2)		$	1,798	$	1,745

As of March 31, 2026 and December 31, 2025, the Company’s weighted-average remaining lease terms on its operating leases is 5.9 and 6.2 years, and the Company’s weighted-average discount rate is 6.36% and 6.48%, 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 are as follows (in thousands):


2026	$	5,006
2027	5,170
2028	3,534
2029	2,298
2030	2,226
Thereafter	7,575
Total lease payments	25,809
Less: Imputed interest	(4,341)
Present value of lease liabilities	$	21,468

SEGMENT REPORTING

3 Months Ended

Mar. 31, 2026

Segment Reporting [Abstract]

SEGMENT REPORTING

The Company is a leading global 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 one of the relevant metrics in his decision making process.

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


	Three Months Ended March 31,
		2026		2025
Revenues:
Wire transfer and money order fees, net		$	99,752	$	120,167
Foreign exchange gain, net		16,320		20,181
Other income		5,880		3,962
Total revenues		121,952		144,310

Less:
Agent commissions		51,158		61,163
Payer commissions		18,827		23,811
Bank charges and fees		5,614		6,594
Salaries and benefits		18,890		18,288
Other segment items (1)		15,047		13,209
Provision for credit losses		2,891		2,066
Restructuring costs		—		306
Transaction costs		1,166		1,169
Depreciation and amortization		4,685		3,629
Total operating expenses		118,278		130,235

Operating income		3,674		14,075

Interest expense		2,208		2,700

Income before income taxes		1,466		11,375

Income tax provision		955		3,606

Net income		$	511	$	7,769

(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

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET - Narrative (Details)	3 Months Ended
	Mar. 31, 2026
Payables And Accruals [Line Items]
Wires payable collection period	30 days
Minimum
Payables And Accruals [Line Items]
Statutory abandonment period	3 years
Maximum
Payables And Accruals [Line Items]
Statutory abandonment period	7 years

INCOME TAXES (Tables)

3 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

Schedule of Reconciliation of Tax Provision

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


	Three Months Ended March 31,
		2026			2025
Income before income taxes		$	1,466		$	11,375
U.S statutory tax rate		21		%	21		%
Income tax expense at statutory rate		308			2,389

State and local income taxes, net of federal income tax effect		121			867
Foreign tax effects:
Mexico
Statutory tax rate difference between Mexico and the United States		4			19
Return to provision adjustments		347			—
Other foreign jurisdictions		7			80
Non-taxable or Non-deductible expenses:
Share-based compensation expenses		49			97
Non-deductible officer compensation expenses		41			155
Other non-deductible expenses		2			18
Other		76			(19)
Total income tax provision		$	955		$	3,606

DEBT (Tables)

3 Months Ended

Mar. 31, 2026

Debt Disclosure [Abstract]

Schedule of Debt Instruments

Debt consisted primarily of the following (in thousands):


	March 31, 2026		December 31, 2025
Revolving credit facility	$	240,814	$	194,814
Other	—		11



	$	240,814	$	194,825

- 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.

+ References

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+ Details

SEGMENT REPORTING - Narrative (Details)	3 Months Ended
SEGMENT REPORTING - Narrative (Details)	Mar. 31, 2026 segment
Segment Reporting [Abstract]
Number of operating segments	1
Number of reportable segments	1

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET - Schedule of Wire Transfer and Money Orders Payable (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Payables and Accruals [Abstract]
Wire transfers payable, net	$ 21,340	$ 26,708
Customer voided wires payable	34,464	34,298
Money orders payable	28,297	26,534
Wire transfers and money orders payable, net	$ 84,101	$ 87,540

PREPAID EXPENSES AND OTHER ASSETS

3 Months Ended

Mar. 31, 2026

Prepaid Expense and Other Assets [Abstract]

PREPAID EXPENSES AND OTHER ASSETS

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


	March 31, 2026		December 31, 2025
Prepaid insurance	$	721	$	1,343
Prepaid fees and services	2,450		3,057
Agent incentive advances	1,973		2,166
Agent advances receivable, net of allowance	1,796		1,798
Prepaid marketing expenditures	1,859		1,318
Prepaid income taxes	8,315		8,123

Prepaid expenses and other current assets	2,124		1,806
	$	19,238	$	19,611

Other assets consisted of the following (in thousands):


	March 31, 2026		December 31, 2025
Revolving credit facility origination fees	$	3,340	$	3,593
Agent incentive advances	1,385		1,750
Agent advances receivable, net of allowance	2,784		2,696
Right-of-use assets, net	15,660		15,878
Funds held by seized banking entities, net of allowance	1,765		1,774
Other assets	1,681		2,302
	$	26,615	$	27,993

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 $4.3 million as of March 31, 2026 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.

BUSINESS AND ACCOUNTING POLICIES	3 Months Ended
BUSINESS AND ACCOUNTING POLICIES	Mar. 31, 2026
Accounting Policies [Abstract]
BUSINESS AND ACCOUNTING POLICIES	BUSINESS AND ACCOUNTING POLICIES 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 114 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 51 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 from one U.S. state. Additionally, the parties have received approval from all international money transmission regulators. 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 is working towards a consummation of the Merger in the second quarter of 2026. The accompanying condensed consolidated financial statements of the Company include 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 condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“GAAP”). The Company’s interim condensed consolidated financial statements and related notes are unaudited. In the opinion of management, all adjustments (including normal recurring adjustments) and disclosures necessary for a fair presentation of these interim condensed consolidated financial statements have been included. The results reported in these interim condensed consolidated financial statements are not necessarily indicative of the results that may be reported for the entire year. Certain information and footnote disclosures required by GAAP have been condensed or omitted. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2025. 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 three months ended March 31, 2026, the Company did not incur any losses on these uninsured foreign bank accounts. In addition, a substantial portion of our paying agents are concentrated in a few large banks and financial institutions and large retail chains in Latin American countries. Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued guidance, 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 2025-06, 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.

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Cash flows from operating activities:
Net income	$ 511	$ 7,769
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,685	3,629
Share-based compensation	2,526	2,112
Provision for credit losses	2,891	2,066
Debt origination costs amortization	254	256
Deferred income tax benefit, net	(129)	(268)
Non-cash lease expense	1,798	1,745
Loss on disposal of property and equipment	383	249
Total adjustments	12,408	9,789
Changes in operating assets and liabilities:
Accounts receivable	(3,862)	(25,911)
Prepaid wires, net	(47,192)	17,151
Prepaid expenses and other assets	1,248	726
Wire transfers and money orders payable, net	(3,390)	29,774
Lease liabilities	(1,787)	(1,993)
Accounts payable and accrued and other liabilities	4,700	3,977
Net cash (used in) provided by operating activities	(37,364)	41,282
Cash flows from investing activities:
Purchases of property and equipment	(5,493)	(5,275)
Acquisition of agent locations	0	(38)
Net cash used in investing activities	(5,493)	(5,313)
Cash flows from financing activities:
Borrowings under revolving credit facility	1,961,500	1,916,000
Repayments under revolving credit facility	(1,915,500)	(1,925,235)
Payments for stock-based awards	(928)	(929)
Repurchases of common stock	0	(4,981)
Other financing activities	(11)	0
Net cash provided by (used in) financing activities	45,061	(15,145)
Effect of exchange rate changes on cash and cash equivalents	(562)	437
Net increase in cash and cash equivalents	1,642	21,261
Cash and cash equivalents, beginning of period	168,682	130,503
Cash and cash equivalents, end of period	170,324	151,764
Supplemental disclosure of cash flow information:
Cash paid for interest	1,942	2,446
Cash paid for income taxes	965	1,294
Supplemental disclosure of non-cash investing activities:
Lease liabilities arising from obtaining right-of-use assets	$ 1,248	$ 478

EARNINGS PER SHARE - Narrative (Details) - shares		3 Months Ended
EARNINGS PER SHARE - Narrative (Details) - shares	Mar. 12, 2025	Mar. 31, 2026	Mar. 31, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Treasury stock repurchased (in shares)	100,000	0	367,873
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted earnings per share (in shares)		382,300	300,300
RSAs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted earnings per share (in shares)		339,900	168,000.0

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Statement of Financial Position [Abstract]
Accounts receivable, allowance for credit loss	$ 4,837	$ 5,530
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 shares, authorized (in shares)	200,000,000	200,000,000
Common shares, issued (in shares)	41,078,827	40,682,683
Common shares, outstanding (in shares)	30,115,259	29,719,115
Treasury stock (in shares)	10,963,568	10,963,568

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

3 Months Ended

Mar. 31, 2026

Receivables [Abstract]

Schedule 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):


	March 31, 2026		December 31, 2025
Accounts receivable	$	111,115	$	110,899
Allowance for credit losses	(4,837)		(5,530)
Accounts receivable, net	$	106,278	$	105,369

Agent advances receivable, net of allowance for credit losses, from sending agents is as follows (in thousands):


	March 31, 2026		December 31, 2025
Agent advances receivable, current	$	2,042	$	2,001
Allowance for credit losses	(246)		(203)
Net current	$	1,796	$	1,798

Agent advances receivable, long-term	$	3,169	$	2,960
Allowance for credit losses	(385)		(264)
Net long-term	$	2,784	$	2,696

Schedule of Maturities of Agent Advances Receivable

The maturities of agent advances receivable at March 31, 2026 are as follows (in thousands):


	Outstanding Balance
Under 1 year	$	2,042
Between 1 and 2 years	2,178
More than 2 years	991
Total	$	5,211

Schedule 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):


	Three Months Ended March 31,
		2026		2025
Beginning balance		$	5,997	$	3,836
Provision		2,891		2,066
Charge-offs		(3,615)		(1,757)
Recoveries		337		170
Other		(142)		117
Ending Balance		$	5,468	$	4,432

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


	March 31, 2026		December 31, 2025
Accounts receivable	$	4,837	$	5,530
Agent advances receivable	631		467
Allowance for credit losses	$	5,468	$	5,997

ACQUISITIONS (Tables)

3 Months Ended

Mar. 31, 2026

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 three months ended March 31, 2026 and 2025 (in thousands):


	Three Months Ended March 31, 2026				Three Months Ended March 31, 2025
	Severance costs		Legal and professional fees		Severance costs		Legal and professional fees
Beginning balance	$	253	$	7	$	300	$	16
Charges incurred	—		—		297		9
Payments/other	(208)		(7)		(528)		(25)
Ending balance	$	45	$	—	$	69	$	—

SHARE-BASED COMPENSATION

3 Months Ended

Mar. 31, 2026

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 (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 may be 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 and 2020 Plans, 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 March 31, 2026, 2.8 million shares remained available for future awards under the 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 installments beginning one year after the date of the grant. The Company recognized no compensation expense for stock options for both the three months ended March 31, 2026 and 2025, respectively. As of March 31, 2026, there is no unrecognized compensation expense related to stock options.

A summary of stock option activity under the Plans during the three months ended March 31, 2026 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, 2025	146,125	$	12.21	3.38	$	4.38
Granted	—	$	—		$	—
Exercised	—	$	—		$	—
Forfeited	—	$	—		$	—
Expired	—	$	—		$	—
Outstanding at March 31, 2026	146,125	$	12.21	3.14	$	4.38

Exercisable at March 31, 2026(1)	146,125	$	12.21	3.14	$	4.38

(1) The aggregate fair value of all vested/exercisable options outstanding as of March 31, 2026 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 Plans 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 generally vest on the one-year anniversary from the grant date. The Company recognized compensation expense for all RSUs of approximately $1.2 million and $0.9 million for the three months ended March 31, 2026 and 2025, respectively, which is included in salaries and benefits in the condensed consolidated statements of income and comprehensive income. As of March 31, 2026, unrecognized compensation expense related to RSUs of approximately $11.2 million is expected to be recognized over a weighted-average period of 2.0 years.

A summary of RSU activity during the three months ended March 31, 2026 is presented below:


	Number of RSUs	Weighted-Average Grant Price
Outstanding (nonvested) at December 31, 2025	591,538	$	17.17
Granted(1)	336,969	$	15.55
Vested	(129,760)	$	18.90
Forfeited	(5,889)	$	15.07
Outstanding (nonvested) at March 31, 2026	792,858	$	16.21

(1) The aggregate fair value of all RSUs granted during the three months ended March 31, 2026 was approximately $5.2 million.

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 $0.6 million and $0.5 million for the three months ended March 31, 2026 and 2025, respectively, which is included in salaries and benefits in the condensed consolidated statements of income and comprehensive income. As of March 31, 2026, there was $7.6 million of unrecognized compensation expense related to RSAs, which is expected to be recognized over a weighted-average period of 2.1 years.

A summary of RSA activity during the three months ended March 31, 2026 is presented below:


	Number of RSAs	Weighted-Average Grant Price
Outstanding (nonvested) at December 31, 2025	257,169	$	20.12
Granted(1)	301,957	$	15.55
Vested	(99,015)	$	19.96
Forfeited	—	$	—
Outstanding (nonvested) at March 31, 2026	460,111	$	17.16

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.

The Company recognized compensation expense for PSUs of $0.7 million and $0.3 million for the three months ended March 31, 2026 and 2025, respectively, which is included in salaries and benefits in the condensed consolidated statements of income and comprehensive income. As of March 31, 2026, there was $3.5 million of unrecognized compensation expense related to PSUs, which is expected to be recognized over a weighted-average period of 1.5 years.

A summary of PSU activity during the three months ended March 31, 2026 is presented below:


	Number of PSUs	Weighted-Average Remaining Contractual Term (Years)	Weighted-Average Grant Price
Outstanding (nonvested) at December 31, 2025	506,942	8.56	$	14.70
Granted	—		$	—
Vested/accelerated	—		$	—
Forfeited	—		$	—
Outstanding (nonvested) at March 31, 2026	506,942	8.66	$	14.70

REVENUES (Tables)

3 Months Ended

Mar. 31, 2026

Revenue from Contract with Customer [Abstract]

Schedule of Revenues from Contracts with Customers

The Company recognized revenues from contracts with customers, sending agents, digital partners and others for the three months ended March 31, 2026 and 2025, as follows (in thousands):


	Three Months Ended March 31,
		2026		2025
Wire transfer and money order fees		$	99,921	$	120,889
Discounts and promotions		(169)		(722)
Wire transfer and money order fees, net		99,752		120,167
Foreign exchange gain, net		16,320		20,181
Other income		5,880		3,962
Total revenues		$	121,952	$	144,310

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance, common (in shares) at Dec. 31, 2024		40,164,056
Beginning balance at Dec. 31, 2024	$ 134,924	$ 4	$ (200,696)	$ 79,592	$ 257,470	$ (1,446)
Beginning balance, treasury (in shares) at Dec. 31, 2024			(9,615,354)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	7,769				7,769
Issuance of common stock:
Other stock awards, net of shares withheld for taxes (in shares)		168,901
Other stock awards, net of shares withheld for taxes	(929)			(929)
Share-based compensation	2,112			2,112
Adjustment from foreign currency translation, net	$ 348					348
Acquisition of treasury stock, at cost (in shares)	(367,873)		(367,873)
Acquisition of treasury stock, at cost	$ (4,981)		$ (4,981)
Ending balance, common (in shares) at Mar. 31, 2025		40,332,957
Ending balance at Mar. 31, 2025	$ 139,243	$ 4	$ (205,677)	80,775	265,239	(1,098)
Ending balance, treasury (in shares) at Mar. 31, 2025			(9,983,227)
Beginning balance, common (in shares) at Dec. 31, 2025	29,719,115	40,682,683
Beginning balance at Dec. 31, 2025	$ 161,054	$ 4	$ (217,030)	87,835	290,141	104
Beginning balance, treasury (in shares) at Dec. 31, 2025	(10,963,568)		(10,963,568)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 511				511
Issuance of common stock:
Other stock awards, net of shares withheld for taxes (in shares)		396,144
Other stock awards, net of shares withheld for taxes	(928)			(928)
Share-based compensation	2,526			2,526
Adjustment from foreign currency translation, net	$ (471)					(471)
Acquisition of treasury stock, at cost (in shares)	0
Ending balance, common (in shares) at Mar. 31, 2026	30,115,259	41,078,827
Ending balance at Mar. 31, 2026	$ 162,692	$ 4	$ (217,030)	$ 89,433	$ 290,652	$ (367)
Ending balance, treasury (in shares) at Mar. 31, 2026	(10,963,568)		(10,963,568)

COMMITMENTS AND CONTINGENCIES (Details)	Mar. 31, 2026 state territory country
Commitments and Contingencies Disclosure [Abstract]
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

ACCRUED AND OTHER LIABILITIES (Tables)

3 Months Ended

Mar. 31, 2026

Payables and Accruals [Abstract]

Schedule of Accrued and Other Liabilities

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


	March 31, 2026		December 31, 2025
Commissions payable to sending agents	$	15,138	$	16,381
Accrued salaries and benefits	4,318		3,785
Accrued bank charges	2,751		3,225
Lease liability, current portion	6,109		6,207
Accrued professional fees	1,043		2,156
Accrued taxes	9,475		1,940


Acquisition related liabilities	150		150
Accrued transaction costs	134		84
Other	3,235		4,172
	$	42,353	$	38,100

Schedule of Changes in Deferred Revenue Loyalty Program Liability

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


	Three Months Ended March 31,
		2026		2025
Beginning balance		$	—	$	2,692
Revenue deferred during the period		—		141
Revenue recognized during the period		—		(794)
Ending balance		$	—	$	2,039

EARNINGS PER SHARE - Schedule of Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended
	Mar. 31, 2026	Mar. 31, 2025
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income	$ 511	$ 7,769
Shares:
Weighted-average common shares outstanding - basic (in shares)	29,858,890	30,587,949
Weighted-average common shares outstanding - diluted (in shares)	30,382,817	30,831,633
Earnings per common share – basic (in dollars per share)	$ 0.02	$ 0.25
Earnings per common share – diluted (in dollars per share)	$ 0.02	$ 0.25
RSUs
Shares:
Effect of dilutive securities (in shares)	179,418	97,342
Stock options
Shares:
Effect of dilutive securities (in shares)	31,942	44,316
RSAs
Shares:
Effect of dilutive securities (in shares)	51,730	53,495
PSUs
Shares:
Effect of dilutive securities (in shares)	260,837	48,531

LEASES - Schedule of Presentation of Right-of-Use Assets and Lease Liabilities in the Condensed Consolidated Balance Sheet (Details) - USD ($) $ in Thousands	Mar. 31, 2026	Dec. 31, 2025
Assets
Right-of-use assets	$ 15,660	$ 15,878
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Current
Operating	$ 6,109	$ 6,207
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued and other liabilities	Accrued and other liabilities
Noncurrent
Operating	$ 15,359	$ 15,483
Total Lease liabilities	21,468	21,690
Operating lease, right-of-use asset, accumulated amortization	$ 14,600	$ 16,900

SHARE-BASED COMPENSATION - Stock Option Activity (Details) - USD ($) $ / shares in Units, $ in Millions	3 Months Ended	6 Months Ended
	Mar. 31, 2026	Jun. 30, 2025
Number of Options
Outstanding, beginning balance (in shares)	146,125
Granted (in shares)	0
Exercised (in shares)	0
Forfeited (in shares)	0
Expired (in shares)	0
Outstanding, ending balance (in shares)	146,125
Exercisable, ending balance (in shares)	146,125
Weighted-Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 12.21
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Expired (in dollars per share)	0
Outstanding, ending balance (in dollars per share)	12.21
Exercisable, ending balance (in dollars per share)	$ 12.21
Weighted-Average Remaining Contractual Term (Years)
Weighted average remaining contractual term, outstanding	3 years 1 month 20 days	3 years 4 months 17 days
Weighted average remaining contractual term, exercisable	3 years 1 month 20 days
Weighted-Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share)	$ 4.38
Granted (in dollars per share)	0
Exercised (in dollars per share)	0
Forfeited (in dollars per share)	0
Expired (in dollars per share)	0
Outstanding ending balance (in dollars per share)	4.38
Exercisable ending balance (in dollars per share)	$ 4.38
Aggregate fair value	$ 0.6

INCOME TAXES

3 Months Ended

Mar. 31, 2026

Income Tax Disclosure [Abstract]

INCOME TAXES


	Three Months Ended March 31,
		2026			2025
Income before income taxes		$	1,466		$	11,375
U.S statutory tax rate		21		%	21		%
Income tax expense at statutory rate		308			2,389

State and local income taxes, net of federal income tax effect		121			867
Foreign tax effects:
Mexico
Statutory tax rate difference between Mexico and the United States		4			19
Return to provision adjustments		347			—
Other foreign jurisdictions		7			80
Non-taxable or Non-deductible expenses:
Share-based compensation expenses		49			97
Non-deductible officer compensation expenses		41			155
Other non-deductible expenses		2			18
Other		76			(19)
Total income tax provision		$	955		$	3,606

Effective income tax rates for interim periods are based upon our current estimated annual rate. The Company’s effective income tax rate varies based upon an estimate of taxable earnings as well as on the mix of taxable earnings in the various states and countries in which we operate. Changes in the annual allocation and apportionment of the Company’s activity among these jurisdictions results in changes to the effective rate utilized to measure the Company’s deferred tax assets and liabilities.

Our income tax provision includes the expected benefit of all deferred tax assets, including our net operating loss carryforwards. 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 2046 for foreign losses. After consideration of all evidence, both positive and negative, management has determined that no valuation allowance is required at March 31, 2026 on the Company’s U.S. federal or state deferred tax assets; however, a valuation allowance has been recorded at March 31, 2026 on deferred tax assets associated with Canadian, Spanish, Dutch and British net operating loss carryforwards as these foreign subsidiaries have a history of incurring taxable losses in recent years. The valuation allowance will be maintained until sufficient positive evidence exists to support their future realization. Utilization of the Company’s net operating loss carryforwards is subject to limitation under Internal Revenue Code Section 382 and similar tax provisions in the foreign jurisdictions in which we operate.

As presented in the income tax reconciliation above, the tax provision recognized on the condensed consolidated statements of income and comprehensive income was impacted by state taxes, non-deductible officer compensation and share-based compensation tax expenses, return-to-provision adjustments associated with the income tax returns of some of our subsidiaries in Mexico, and foreign tax rates applicable to the Company’s foreign subsidiaries that are higher or lower than the U.S. statutory rate.

- Definition

The entire disclosure for income tax.

+ References

Reference 1: http://www.xbrl.org/2003/role/disclosureRef
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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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+ Details