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Document and Entity Information - shares	6 Months Ended
Document and Entity Information - shares	Jun. 30, 2019	Aug. 06, 2019
Document and Entity Information [Abstract]
Entity Registrant Name	International Money Express, Inc.
Entity Central Index Key	0001683695
Current Fiscal Year End Date	--12-31
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Shell Company	false
Entity Filer Category	Non-accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Common Stock, Shares Outstanding		37,982,848
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Jun. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q2
Entity Address, State or Province	FL

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($)
$ in Thousands

Jun. 30, 2019

Dec. 31, 2018

Current assets:

Cash

$ 106,884

$ 73,029

Accounts receivable, net of allowance of $670 and $842, respectively

93,029

35,795

Prepaid wires

8,890

26,655

Other prepaid expenses and current assets

2,260

3,171

Total current assets

211,063

138,650

Property and equipment, net

11,071

10,393

Goodwill

36,260

Intangible assets, net

32,058

36,395

Deferred tax asset, net

1,932

2,267

Other assets

1,993

1,874

Total assets

294,377

225,839

Current liabilities:

Current portion of long-term debt, net

^[1]

5,767

3,936

Accounts payable

14,451

11,438

Wire transfers and money orders payable

83,780

36,311

Accrued and other liabilities

19,275

16,355

Total current liabilities

123,273

68,040

Long-term liabilities:

Debt, net

126,144

113,326

Total long-term liabilities

126,144

113,326

Commitments and Contingencies, see Note 13

Stockholders' equity:

Common stock $0.0001 par value; 230,000,000 shares authorized, 37,982,848 and 36,182,783 shares issued and outstanding as of June 30, 2019 and December 31, 2018, respectively

Additional paid-in capital

53,118

61,889

Accumulated deficit

(8,203)

(17,418)

Accumulated other comprehensive income (loss)

(2)

Total stockholders' equity

44,960

44,473

Total liabilities and stockholders' equity

$ 294,377

$ 225,839

[1]	Current portion of long-term debt is net of debt origination costs of $0.6 million at June 30, 2019 and December 31, 2018.

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
Current assets:
Accounts receivable, allowance	$ 670	$ 842
Stockholders' equity:
Common stock, par value (in dollars per share)	$ 0.0001	$ 0.0001
Common shares, authorized (in shares)	230,000,000	230,000,000
Common shares, issued (in shares)	37,982,848	36,182,783
Common shares, outstanding (in shares)	37,982,848	36,182,783

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (Unaudited) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Revenues:
Wire transfer and money order fees	$ 70,490	$ 59,368	$ 128,941	$ 107,222
Foreign exchange	11,623	10,585	21,025	18,316
Other income	562	426	1,058	797
Total revenues	82,675	70,379	151,024	126,335
Operating expenses:
Service charges from agents and banks	54,622	46,323	100,191	84,260
Salaries and benefits	7,597	7,441	15,194	13,673
Other selling, general and administrative expenses	5,337	4,184	11,061	8,185
Transaction costs	0	2,553	0	4,014
Depreciation and amortization	3,155	3,818	6,307	7,607
Total operating expenses	70,711	64,319	132,753	117,739
Operating income	11,964	6,060	18,271	8,596
Interest expense	2,288	3,392	4,358	6,676
Income before income taxes	9,676	2,668	13,913	1,920
Income tax provision	2,602	824	3,683	616
Net income	7,074	1,844	10,230	1,304
Other comprehensive income (loss)	35	(36)	43	(15)
Comprehensive income	$ 7,109	$ 1,808	$ 10,273	$ 1,289
Income per common share:
Basic and diluted (in dollars per share)	$ 0.19	$ 0.11	$ 0.28	$ 0.08
Weighted-average common shares outstanding:
Basic (in shares)	37,505,598	17,227,682	36,847,845	17,227,682
Diluted (in shares)	37,594,151	17,227,682	36,898,462	17,227,682

CONDENSED CONSOLIDATED STATEMENT OF CHANGES IN STOCKHOLDERS' EQUITY (Unaudited) - USD ($) $ in Thousands	Common Stock [Member]	Additional Paid-in Capital [Member]	Accumulated Deficit [Member]	Accumulated Other Comprehensive Income (Loss) [Member]	Total
Balance at Dec. 31, 2017	$ 2	$ 46,076	$ (10,174)	$ (2)	$ 35,902
Balance (in shares) at Dec. 31, 2017	17,227,682
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	0	1,304	0	1,304
Share-based compensation	0	713	0	0	713
Adjustment from foreign currency translation, net	0	0	0	(15)	(15)
Balance at Jun. 30, 2018	$ 2	46,789	(8,870)	(17)	37,904
Balance (in shares) at Jun. 30, 2018	17,227,682
Balance at Mar. 31, 2018	$ 2	46,304	(10,714)	19	35,611
Balance (in shares) at Mar. 31, 2018	17,227,682
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 0	0	1,844	0	1,844
Share-based compensation	0	485	0	0	485
Adjustment from foreign currency translation, net	0	0	0	(36)	(36)
Balance at Jun. 30, 2018	$ 2	46,789	(8,870)	(17)	37,904
Balance (in shares) at Jun. 30, 2018	17,227,682
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Adoption of new accounting pronouncement \| ASU 2014-09 [Member]	$ 0	0	(1,015)	0	(1,015)
Balance at Dec. 31, 2018	$ 4	61,889	(17,418)	(2)	44,473
Balance (in shares) at Dec. 31, 2018	36,182,783
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Warrant exchange	$ 0	(10,031)	0	0	(10,031)
Warrant exchange (in shares)	1,800,065
Net income	$ 0	0	10,230	0	10,230
Share-based compensation	0	1,260	0	0	1,260
Adjustment from foreign currency translation, net	0	0	0	43	43
Balance at Jun. 30, 2019	$ 4	53,118	(8,203)	41	44,960
Balance (in shares) at Jun. 30, 2019	37,982,848
Balance at Mar. 31, 2019	$ 4	62,515	(15,277)	6	47,248
Balance (in shares) at Mar. 31, 2019	36,182,783
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Warrant exchange	$ 0	(10,031)	0	0	(10,031)
Warrant exchange (in shares)	1,800,065
Net income	$ 0	0	7,074	0	7,074
Share-based compensation	0	634	0	0	634
Adjustment from foreign currency translation, net	0	0	0	35	35
Balance at Jun. 30, 2019	$ 4	$ 53,118	$ (8,203)	$ 41	$ 44,960
Balance (in shares) at Jun. 30, 2019	37,982,848

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018
Cash flows from operating activities:
Net income	$ 10,230	$ 1,304
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	6,307	7,607
Share-based compensation	1,260	713
Provision for bad debt	552	385
Debt origination costs amortization	358	464
Deferred taxes	672	(1,031)
Loss on disposal of property and equipment	113	104
Total adjustments	9,262	8,242
Changes in operating assets and liabilities:
Accounts receivable	(57,861)	(4,821)
Prepaid wires	17,954	(6,662)
Other prepaid expenses and assets	726	(19)
Wire transfers and money orders payable	47,222	1,787
Accounts payable and accrued and other liabilities	4,553	7,099
Net cash provided by operating activities	32,086	6,930
Cash flows from investing activities:
Purchases of property and equipment	(2,413)	(2,238)
Acquisition of agent locations	(250)	0
Net cash used in investing activities	(2,663)	(2,238)
Cash flows from financing activities:
Borrowings under term loan	12,000	0
Borrowings (repayments) under revolving loan, net	5,000	(2,425)
Repayment of term loan	(2,402)	0
Debt origination costs	(240)	0
Cash paid in warrant exchange	(10,031)	0
Net cash provided by (used in) financing activities	4,327	(2,425)
Effect of exchange rate changes on cash	105	(86)
Net increase in cash and restricted cash	33,855	2,181
Cash and restricted cash, beginning of the period	73,029	59,795
Cash and restricted cash, end of the period	106,884	61,976
Supplemental disclosure of cash flow information:
Cash paid for interest	3,783	6,205
Cash paid for income taxes	1,060	1,480
Supplemental disclosure of non-cash investing activity:
Agent business acquired in exchange for receivables	$ 85	$ 0

BUSINESS AND ACCOUNTING POLICIES	6 Months Ended
BUSINESS AND ACCOUNTING POLICIES	Jun. 30, 2019
BUSINESS AND ACCOUNTING POLICIES [Abstract]
BUSINESS AND ACCOUNTING POLICIES	NOTE 1 - BUSINESS AND ACCOUNTING POLICIES On July 26, 2018 (the “Closing Date”), International Money Express, Inc. (formerly FinTech Acquisition Corp. II) consummated the previously announced transaction (the “Merger”) by and among FinTech Acquisition Corp. II, a Delaware corporation (“FinTech”), FinTech II Merger Sub Inc., a wholly-owned subsidiary of FinTech (“Merger Sub 1”), FinTech II Merger Sub 2 LLC, a wholly-owned subsidiary of FinTech (“Merger Sub 2”), Intermex Holdings II, Inc. (“Intermex”) and SPC Intermex Representative LLC (“SPC Intermex”)(See Note 2). As a result of the Merger, the separate corporate existence of Intermex ceased and Merger Sub 2 (which changed its name to International Money Express Sub 2, LLC in connection with the closing of the Merger) continued as the surviving entity. In connection with the closing of the Merger, FinTech changed its name to International Money Express, Inc. (the “Company”). Unless the context below otherwise provides, the “Company” refers to the combined company following the Merger and, together with their respective subsidiaries, “FinTech” refers to the registrant prior to the closing of the Merger and “Intermex” refers to Intermex Holdings II, Inc. prior to the closing of Merger. The Merger was accounted for as a reverse recapitalization where FinTech was treated as the “acquired” company for financial reporting purposes. This determination was primarily based on the facts that following the Merger, the former stockholders of Intermex control the majority of the voting rights in respect of the board of directors of the Company, Intermex comprising the ongoing operations of the Company and Intermex’s senior management comprising the senior management of the Company. Accordingly, the Merger was treated as the equivalent of Intermex issuing stock for the net assets of FinTech, accompanied by a recapitalization. The net assets of FinTech were stated at historical cost, with no goodwill or other intangible assets resulting from the Merger. The consolidated assets, liabilities and results of operations prior to the Closing Date of the Merger are those of Intermex, and FinTech’s assets, liabilities and results of operations are consolidated with Intermex beginning on the Closing Date. The shares and corresponding capital amounts included in common stock and additional paid-in capital, pre-merger, have been retroactively restated as shares reflecting the exchange ratio in the Merger. The historical financial information and operating results of FinTech prior to the Merger have not been separately presented in these condensed consolidated financial statements as they were not significant or meaningful. The Company operates as a money transmitter, primarily between the United States of America (“U.S.”) and Mexico, Guatemala and other countries in Latin America and Africa through a network of authorized agents located in various unaffiliated retail establishments throughout the U.S. The condensed consolidated financial statements of the Company include Intermex, its wholly-owned indirect subsidiary, Intermex Wire Transfer, LLC (“LLC”), Intermex Wire Transfers de Guatemala, S.A. (“Intermex Guatemala”) - 99.8% owned by LLC, Intermex Wire Transfer de Mexico, S.A. and Intermex Transfers de Mexico, S.A. (“Intermex Mexico”) - 98% owned by LLC, Intermex Wire Transfer Corp. - 100% owned by LLC, Intermex Wire Transfer II, LLC - 100% owned by LLC and Canada International Transfers Corp. - 100% owned by LLC. Non-controlling interest in the results of operations of consolidated subsidiaries represents the minority stockholders’ share of the profit or (loss) of Intermex Mexico and Intermex Guatemala. The non-controlling interest asset and non-controlling interest in the portion of the profit or (loss) from operations of these subsidiaries were not recorded by the Company as they are considered immaterial. The condensed consolidated financial statements are prepared in accordance with U.S. generally accepted accounting principles (“GAAP”). All significant inter-company balances and transactions have been eliminated from the condensed consolidated financial statements. 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 statements have been included. The results reported in these interim 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 condensed consolidated financial statements should be read in conjunction with the financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2018. Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued guidance, Revenue from Contracts with Customers, which amended the existing accounting standards for revenue recognition. Refer to Note 3 for additional discussion on the adoption of this standard on January 1, 2019. The FASB issued amended guidance, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments, which clarifies how certain cash receipts and cash payments are presented and classified in the condensed consolidated statements of cash flows. The amendments are aimed at reducing the existing diversity in practice. The Company adopted this guidance in the first quarter of 2019 applying a retrospective approach for each period presented. The adoption of this guidance did not have a material impact on the condensed consolidated financial statements. The FASB issued guidance, Leases, to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under previous accounting rules. The guidance requires that a lessee recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term on the balance sheet. This guidance is required to be adopted by the Company beginning in the first quarter of 2020 and must be applied using a modified retrospective approach. The Company is currently evaluating the impact this guidance will have on the consolidated financial statements. The FASB issued amended guidance, Intangibles – Goodwill and other (Topic 350): Simplifying the Test for Goodwill Impairment. The amended standard simplifies how an entity tests goodwill by eliminating Step 2 of the goodwill impairment test related to measuring an impairment charge. Instead, impairment will be recorded for the amount that the carrying amount of a reporting unit exceeds its fair value. This new guidance is effective for the Company beginning in the first quarter of 2021. The adoption of this guidance is not expected to have a material impact on the consolidated financial statements. The FASB issued guidance, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, regarding the measurement of credit losses for certain financial instruments. The new standard replaces the incurred loss model with a current expected credit loss (“CECL”) model. The CECL model is based on historical experience, adjusted for current conditions and reasonable and supportable forecasts. The Company is required to adopt the new standard beginning in the first quarter of 2022. The Company is currently evaluating the impact this guidance will have on the consolidated financial statements.

FINTECH MERGER

6 Months Ended

Jun. 30, 2019

FINTECH MERGER [Abstract]

FINTECH MERGER

NOTE 2 – FINTECH MERGER

Reclassifications

Certain reclassifications have been made to prior-year amounts to conform with current presentation.

FinTech Merger

As discussed in Note 1, on July 26, 2018 Intermex and FinTech consummated the Merger, which was accounted for as a reverse recapitalization. Immediately prior to the Merger, FinTech’s shareholders exercised their right to redeem certain of their outstanding shares for cash, resulting in the redemption of 4.9 million shares of FinTech for gross redemption payments of $49.8 million. Subsequent to this redemption, there were 18.9 million outstanding shares. The aggregate consideration paid in the Merger by FinTech to the Intermex shareholders consisted of approximately (i) $102.0 million in cash and (ii) 17.2 million shares of FinTech common stock. In accounting for the reverse recapitalization, the net cash proceeds received in the third quarter of 2018 from FinTech amounted to $5.0 thousand as shown in the table below (in thousands):

Cash balance available to Intermex prior to the consummation of the Merger	$	110,726
Less:
Intermex Merger costs paid from acquisition proceeds at closing		(9,062	)
Cash consideration to Intermex shareholders		(101,659	)
Net cash proceeds from reverse recapitalization	$	5

Cash balance available to Intermex prior to the consummation of the Merger	$	110,726
Less:
Cash consideration to Intermex shareholders		(101,659	)
Other FinTech assets acquired and liabilities assumed in the Merger:
Prepaid expenses		76
Accrued liabilities		(136	)
Deferred tax assets		982
Net equity infusion from FinTech	$	9,989

Cash consideration to Intermex shareholders includes the payout of all vested Incentive Units issued to employees of the Company as discussed in Note 10.

After the completion of the Merger on July 26, 2018, there were 36.2 million shares of International Money Express, Inc. common stock outstanding, warrants to purchase 9 million shares of common stock and 3.4 million shares reserved for issuance under the International Money Express, Inc. 2018 Omnibus Equity Compensation Plan (See Note 10).

Transaction Costs

Direct costs related to the Merger were expensed as incurred and included as “transaction costs” in the condensed consolidated statements of operations and comprehensive income. Transaction costs included all internal and external costs directly related to the Merger, consisting primarily of legal, consulting, accounting, advisory and financing fees and certain incentive bonuses directly related to the Merger. Transaction costs for the three and six months ended June 30, 2018 amounted to $2.6 million and $4.0 million, respectively.

REVENUE RECOGNITION STANDARD	6 Months Ended
REVENUE RECOGNITION STANDARD	Jun. 30, 2019
REVENUE RECOGNITION STANDARD [Abstract]
REVENUE RECOGNITION STANDARD	NOTE 3 – REVENUE RECOGNITION STANDARD On January 1, 2019, the Company adopted the new accounting standard, Revenue from Contracts with Customers, as amended, which modified the existing accounting standards for revenue recognition. The guidance establishes that an entity should recognize revenue to depict the transfer of promised goods or services, that is, the satisfaction of performance obligations, to customers in an amount that reflects the consideration to which the entity expects to be entitled in exchange for those goods or services. The guidance establishes a five-step model to determine when revenue recognition is appropriate. The Company adopted the guidance using the modified retrospective approach recording the cumulative effect of initially applying the new guidance as an adjustment to the opening balance of accumulated deficit in the condensed consolidated balance sheet, amounting to $1.0 million, net of tax, with a corresponding increase to deferred revenue liability, included within accrued and other liabilities in the condensed consolidated balance sheet. In accordance with the modified retrospective approach, the comparative information has not been restated and continues to be reported under the accounting standards in effect for that period. For the three and six months ended June 30, 2019, the Company recognized $82.7 million and $151.0 million in revenues from contracts with customers, respectively. There are no significant initial costs incurred to obtain contracts with customers. However, the Company’s loyalty program provides that for each money transfer completed customers earn points, which can be redeemed at a later time under the terms of the loyalty program. Therefore, a portion of the initial consideration is recorded as deferred revenue (See Note 6). Prior to the implementation of the standard, the Company used the incremental cost method to account for the loyalty program; therefore, a liability for the cost associated with the company’s future obligation to its customers was created and the loyalty program expense was recorded within Service charges from agents and banks in the consolidated statements of operations and comprehensive income. Under the new guidance, loyalty program expense is recorded as contra revenue. The loyalty program reserve balance as of January 1, 2019 of $0.6 million was credited to accumulated deficit as this became part of the beginning balance of the new deferred revenue liability. Based on our assessment of the new standard, except for the loyalty program discussed above, we have determined that 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, for which revenue is derived by a fee per transaction. For substantially all of the Company’s revenues, the Company acts as the principal in transactions and reports revenue on a gross basis, as 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.

OTHER PREPAID EXPENSES AND CURRENT ASSETS

6 Months Ended

Jun. 30, 2019

OTHER PREPAID EXPENSES AND CURRENT ASSETS [Abstract]

OTHER PREPAID EXPENSES AND CURRENT ASSETS

NOTE 4 – OTHER PREPAID EXPENSES AND CURRENT ASSETS

Other prepaid expenses and current assets consisted of the following (in thousands):

	June 30, 2019		December 31, 2018

Prepaid insurance	$	190	$	300
Prepaid fees		807		719
Notes receivable		502		451
Other prepaid expenses and current assets		761		1,701
	$	2,260	$	3,171

GOODWILL AND OTHER INTANGIBLE ASSETS

6 Months Ended

Jun. 30, 2019

GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]

GOODWILL AND OTHER INTANGIBLE ASSETS

NOTE 5 – GOODWILL AND OTHER INTANGIBLE ASSETS

Intangible assets on the condensed consolidated balance sheets of the Company consist of agent relationships, trade name, developed technology and other intangible assets. Agent relationships, trade name and developed technology are all amortized over 15 years using an accelerated method that correlates with the projected realization of the benefit. Other intangibles primarily relate to the acquisition of certain agent locations or company-owned stores, which are amortized straight line over 10 years. The determination of our other 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. A change in the conditions, circumstances or strategy of the Company may result in a need to recognize an impairment charge.

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

	Goodwill		Other Intangibles
Balance at December 31, 2018	$	36,260	$	36,395
Acquisition of agent locations		-		335
Amortization expense		-		(4,672	)
Balance at June 30, 2019	$	36,260	$	32,058

ACCRUED AND OTHER LIABILITIES

6 Months Ended

Jun. 30, 2019

ACCRUED AND OTHER LIABILITIES [Abstract]

ACCRUED AND OTHER LIABILITIES

NOTE 6 – ACCRUED AND OTHER LIABILITIES

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

	June 30, 2019		December 31, 2018

Payables to agents	$	9,962	$	8,972
Accrued compensation		1,419		2,344
Accrued bank charges		978		983
Accrued loyalty program reserve		-		621
Accrued interest		1,226		1,009
Accrued legal fees		50		920
Accrued taxes		1,467		745
Deferred revenue loyalty program liability		2,322		-
Other		1,851		761
	$	19,275	$	16,355

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

Balance, December 31, 2018	$	-
Adoption of ASC 606		1,976
Revenue deferred during the period		1,378
Revenue recognized during the period		(1,032	)
Balance, June 30, 2019	$	2,322

DEBT

6 Months Ended

Jun. 30, 2019

DEBT [Abstract]

DEBT

NOTE 7 – DEBT

Debt consisted of the following (in thousands):

	June 30, 2019			December 31, 2018

Revolving credit facility	$	35,000		$	30,000
Term loan		99,598			90,000
		134,598			120,000
Less: Current portion of long-term debt ⁽¹⁾		(5,767	)		(3,936	)
Less: Debt origination costs		(2,687	)		(2,738	)
	$	126,144		$	113,326

⁽¹⁾	Current portion of long-term debt is net of debt origination costs of $0.6 million at June 30, 2019 and December 31, 2018.

On November 7, 2018 and further amended on December 7, 2018, the Company entered into a new financing agreement (the “Credit Agreement”) with, among others, certain of its domestic subsidiaries as borrowers and a group of banking institutions. The Credit Agreement provides for a $35 million revolving credit facility, a $90 million term loan facility and an up to $30 million incremental facility. The Credit Agreement also provides for the issuance of letters of credit, which would reduce availability under the revolving credit facility. The proceeds of the Credit Agreement were used to repay existing indebtedness, for working capital purposes and to pay fees and expenses in connection with the transaction. The maturity date of the Credit Agreement is November 7, 2023.

On March 25, 2019, the Company entered into an Increase Joinder No. 1 to the Credit Agreement (the “Increase Joinder”), which was accounted for as a debt modification, under which the Company received $12 million from the incremental facility on April 29, 2019. The proceeds of the Increase Joinder were primarily used to pay for the cash portion of the Tender Offer (the “Offer”) to purchase warrants (See Note 10) during the second quarter of 2019.

Interest on the term loan facility and revolving credit facility under the Credit Agreement is determined by reference to either LIBOR or a “base rate”, in each case plus an applicable margin of 4.50% per annum for LIBOR loans or 3.50% per annum for base rate loans. The Company is also required to pay a fee on the unused portion of the revolving credit facility equal to 0.35% per annum. The effective interest rates as of June 30, 2019 for the term loan and revolving credit facility were 7.82% and 8.34%, respectively.

The principal amount of the term loan facility, including the Increase Joinder, must be repaid in consecutive quarterly installments of 5.0% in year 1, 7.5% in years 2 and 3, 10.0% in years 4 and 5, in each case on the last day of each quarter, commencing in March 2019 with a final payment at maturity. The loans under the Credit Agreement may be prepaid at any time without premium or penalty.

The Credit Agreement contains covenants that limit the Company’s and its subsidiaries’ ability to, among other things, grant liens, incur additional indebtedness, make acquisitions or investments, dispose of certain assets, make dividends and distributions, change the nature of their businesses, enter into certain transactions with affiliates or amend the terms of material indebtedness.

The Credit Agreement also contains financial covenants which require the Company to maintain a quarterly minimum fixed charge coverage ratio of 1.25:1.00 and a quarterly maximum consolidated leverage ratio of 3.25:1.00.

The obligations under the Credit Agreement are guaranteed by the Company and certain domestic subsidiaries of the Company and secured by liens substantially all of the assets of the loan parties, subject to certain exclusions and limitations.

FAIR VALUE MEASUREMENTS	6 Months Ended
FAIR VALUE MEASUREMENTS	Jun. 30, 2019
FAIR VALUE MEASUREMENTS [Abstract]
FAIR VALUE MEASUREMENTS	NOTE 8 – 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. Level 1 relates to quoted market prices for identical assets or liabilities. 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 the goodwill and other intangibles. The Company’s cash is representative of fair value as these balances are comprised of deposits available on demand. Accounts 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 items. The Company’s financial instruments that are not measured at fair value on a recurring basis include its revolving credit facility and term loan. The fair value of the term loan, which approximates book value, is estimated by discounting the future cash flows using a current market interest rate. The estimated fair value of the revolving credit facility would approximate face value given the payment schedule and interest rate structure, which approximates current market interest rates.

- 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 + Details

RELATED PARTY TRANSACTIONS	6 Months Ended
RELATED PARTY TRANSACTIONS	Jun. 30, 2019
RELATED PARTY TRANSACTIONS [Abstract]
RELATED PARTY TRANSACTIONS	NOTE 9 – RELATED PARTY TRANSACTIONS Prior to the Merger, Intermex paid a monthly management fee of $65 thousand, plus reimbursement of expenses, to a related party for management services, which was included in other selling, general and administrative expenses on the Company’s condensed consolidated statements of operations and comprehensive income. There were no amounts payable to or receivable from related parties included in the condensed consolidated balance sheets at June 30, 2019 and December 31, 2018. Upon closing of the Merger on July 26, 2018 (See Note 2), the management fee agreement with the related party was terminated.

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION

6 Months Ended

Jun. 30, 2019

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION [Abstract]

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION

NOTE 10 – STOCKHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION

After the completion of the Merger on the Closing Date, there were 36.2 million shares of the Company’s common stock outstanding and outstanding warrants to purchase approximately 9 million shares of common stock. As of the Closing Date, the former stockholders of Intermex owned approximately 48.3% and the former stockholders of FinTech owned approximately 51.7% of the combined company’s outstanding common stock. At June 30, 2019, the Company was authorized to issue 230 million shares of common stock and had 38.0 million shares of common stock issued and outstanding at $0.0001 par value per common share.

Equity Warrants

Prior to the Merger, FinTech issued 8.8 million public warrants (“Public Warrants”) and 0.2 million private placement warrants (“Placement Warrants”)(combined are referred to as the “Warrants”). The Company assumed the Warrants upon the change of control event. As a result of the Merger, the Warrants issued by FinTech were no longer exercisable for shares of FinTech common stock but instead were exercisable for common stock of the Company. All other features of the Warrants remained unchanged. There were no cash obligations for the Company pertaining to these Warrants.

Each whole Warrant entitled the holder to purchase one share of the Company’s common stock at a price of $11.50 per share. The Warrants became exercisable 30 days after the completion of the Merger and were to expire five years after that date, or earlier upon redemption or liquidation.

On March 28, 2019, the Company commenced a Tender Offer (the “Offer”) to purchase the Warrants. In connection with the Offer, the Company offered the holders of the Warrants a combination of 0.201 shares of its common stock and $1.12 in cash (the “Exchange Consideration”) for each Warrant tendered and exchanged pursuant to the Offer. Concurrently with the Offer, the Company solicited consents from holders of the Warrants to amend the Warrant Agreement dated January 19, 2017 (the “Warrant Agreement”), to permit the Company to require that each outstanding Warrant be converted into a combination of 0.181 shares of our Common Stock and $1.00 in cash, without interest (the “Conversion Consideration”), which Conversion Consideration was approximately 10% less than the Exchange Consideration applicable to the Offer. Approximately 99.51% of the outstanding Warrants were validly tendered and not withdrawn in the Offer. On April 29, 2019, the Company entered into Amendment No. 1 to the Warrant Agreement and, on or about May 20, 2019, exchanged all remaining untendered Warrants for the Conversion Consideration.

Between April and May of 2019, the Company issued an aggregate of approximately 1.8 million shares of common stock and paid approximately $10.0 million in cash in exchange for the Warrants tendered in the Offer as well as the Warrants converted at the Conversion Consideration, resulting in a total of approximately 38.0 million shares of common stock outstanding following the issuance. For the three and six months ended June 30, 2019, the Company incurred approximately $0.4 million and $0.9 million, respectively, in professional and legal fees related to the Offer, which are included in other selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive income.

International Money Express, Inc. 2018 Omnibus Equity Compensation Plan

In connection with the Merger, the stockholders of FinTech approved the International Money Express, Inc. 2018 Omnibus Equity Compensation Plan (the “2018 Plan”). There are 3.4 million shares reserved for issuance under the 2018 Plan, of which stock options to purchase 2.8 million shares of common stock and restricted stock units in respect of 21.2 thousand shares of common stock were granted to employees and independent directors of the Company in connection with the completion of the transactions at the Closing Date.

The value of each option grant is estimated on the grant date using the Black-Scholes option pricing model. The option pricing model requires the input of highly subjective assumptions, including the grant date fair value of our common stock, expected volatility, expected forfeitures and risk-free interest rates. 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 volatilities of a group of guideline companies and the “simplified” method for calculating the expected life of our stock options. 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 2018 Plan have 10-year terms and vest in four equal annual installments beginning one year after the date of the grant. The Company recognized compensation expense for stock options of $0.6 million and $1.3 million for the three and six months ended June 30, 2019, respectively, which is included in salaries and benefits in the condensed consolidated statements of operations and comprehensive income. No stock options were vested during the six months ended June 30, 2019; therefore no stock options were exercisable as of June 30, 2019. The weighted-average grant date fair value for the stock options to purchase 2.8 million shares of common stock granted was $3.47 per share. As of June 30, 2019, there were 2.8 million non-vested stock options and unrecognized compensation expense of $7.4 million is expected to be recognized over a weighted-average period of 3.10 years.

A summary of the stock option activity during the six months ended June 30, 2019 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, 2018		2,881,219		$	10.00		9.60	$	3.47
Granted		45,000			11.01				3.71
Exercised		-			-				-
Forfeited		(148,500	)		10.58				3.67
Expired		-			-				-
Outstanding at June 30, 2019		2,777,719		$	9.99		9.10	$	3.46

The restricted stock units issued under the 2018 Plan to the Company’s independent directors vest on the one-year anniversary from the grant date. The Company recognized compensation expense for restricted stock units of $53 thousand and $105 thousand for the three and six months ended June 30, 2019, respectively, which is included in salaries and benefits in the condensed consolidated statements of operations and comprehensive income. There were no forfeited or vested restricted stock units during the three and six months ended June 30, 2019. As of June 30, 2019, there was $17 thousand of unrecognized compensation expense for the restricted stock units.

Incentive Units

Interwire LLC, the former parent company of Intermex, issued Class B, C and D incentive units to employees of the Company (collectively “incentive units”). As these units were issued as compensation to the Company’s employees, the expense was recorded by the Company. In connection with the Merger, on the Closing Date, all unvested incentive units for Class B, C and D became fully vested and were immediately recognized as share-based compensation expense in the third quarter of 2018. Share-based compensation expense recognized related to these incentive units and included in salaries and benefits in the condensed consolidated statements of operations and comprehensive income, amounted to $0.5 million and $0.7 million for the three and six months ended June 30, 2018, respectively. Subsequent to the Merger, all incentive units ceased to exist.

INCOME PER SHARE

6 Months Ended

Jun. 30, 2019

INCOME PER SHARE [Abstract]

INCOME PER SHARE

NOTE 11 – INCOME PER SHARE

Basic income per share is calculated by dividing net income for period by the weighted average number of common shares outstanding for the period. In computing dilutive income per share, basic income per share is adjusted for the assumed issuance of all applicable potentially dilutive share-based awards, including common stock options, restricted stock and warrants.

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

	Three Months Ended June 30,				Six Months Ended June 30,

	2019		2018		2019		2018

Net income for basic and diluted income per common share	$	7,074	$	1,844	$	10,230	$	1,304

Shares:
Weighted-average common shares outstanding – basic		37,505,598		17,227,682		36,847,845		17,227,682
Effect of dilutive securities:
Restricted stock		17,762		-		15,221		-
Stock options		19,762		-		9,881		-
Warrants		51,029		-		25,515		-
Weighted-average common shares outstanding – diluted		37,594,151		17,227,682		36,898,462		17,227,682

Net income per common share - basic and diluted	$	0.19	$	0.11	$	0.28	$	0.08

The computation of diluted weighted-average common shares outstanding above excludes 117,500 options to purchase shares of the Company’s common stock because, under the treasury stock method, the inclusion of these would be anti-dilutive.

INCOME TAXES

6 Months Ended

Jun. 30, 2019

INCOME TAXES [Abstract]

INCOME TAXES

NOTE 12 – INCOME TAXES

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 operations and comprehensive income is below (in thousands, except for tax rates):

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018

Income before income taxes	$	9,676		$	2,668		$	13,913		$	1,920
US statutory tax rate		21	%		21	%		21	%		21	%
Income tax expense at statutory rate		2,032			560			2,922			403

State tax expense, net of federal		545			157			795			116
Foreign tax rates different from US statutory rate		11			26			15			33
Non-deductible expenses		19			90			28			72
Credits		(5	)		-			(9	)		-
Other		-			(9	)		(68	)		(8	)
Total tax provision	$	2,602		$	824		$	3,683		$	616

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.

As presented in the income tax reconciliation above, the tax provision recognized on the condensed consolidated statements of operations and comprehensive income was impacted by state taxes, non-deductible expenses such as share-based compensation expense, transaction costs and foreign tax rates applicable to the Company’s foreign subsidiaries that are higher or lower than the U.S. statutory rate.

On December 22, 2017, the U.S. enacted tax reform legislation known as H.R. 1, commonly referred to as the “Tax Cuts and Jobs Act” (the “Act”), resulting in significant modifications to existing law. All changes to the tax code that were effective as of January 1, 2018 have been applied by the Company in computing its income tax expense for the three and six months ended June 30, 2019 and 2018. Additional guidance issued by the U.S. Treasury Department, the IRS and other standard-setting bodies may materially impact the provision for income taxes and effective tax rate in the period in which the guidance is issued.

In 2018, FinTech Acquisition Corp II was notified by the IRS that its 2017 federal income tax return was selected for examination. The Company has complied with all information requests to date. As of June 30, 2019, no amounts for tax, interest, or penalties have been paid or accrued as a result of this examination or any other uncertain tax positions.

COMMITMENTS AND CONTINGENCIES

6 Months Ended

Jun. 30, 2019

COMMITMENTS AND CONTINGENCIES [Abstract]

COMMITMENTS AND CONTINGENCIES

NOTE 13 – COMMITMENTS AND CONTINGENCIES

Leases

The Company is a party to leases for office space and company-operated stores. Rent expense under all operating leases, included in other selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive income, amounted to $0.5 million for the three months ended June 30, 2019 and 2018, and $1.0 million and $0.9 million for the six months ended June 30, 2019 and 2018, respectively.

In April 2018, the Company renegotiated its corporate lease to extend the term through November 2025. At June 30, 2019, future minimum rental payments required under operating leases for the remainder of 2019 and thereafter are as follows (in thousands):

2019	$	726
2020		1,314
2021		1,144
2022		939
2023		869
Thereafter		1,438
	$	6,431

Litigation

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, that the expected outcome of these matters, both individually or in the aggregate, will not have a material adverse effect on either the results of operations or financial condition of the Company.

Contingencies

The Company operates in 50 U.S. states, two U.S. territories and three 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 matters will not have a material adverse effect on either the results of operations or financial condition of the Company.

Regulatory Requirements

Certain domestic subsidiaries of the Company are subject to maintaining minimum tangible net worth and liquid assets (eligible securities) to cover the amount outstanding of wire transfers and money orders payable. As of June 30, 2019, the Company’s subsidiaries were in compliance with these two requirements.

BUSINESS AND ACCOUNTING POLICIES (Policies)	6 Months Ended
BUSINESS AND ACCOUNTING POLICIES (Policies)	Jun. 30, 2019
BUSINESS AND ACCOUNTING POLICIES [Abstract]
Accounting Pronouncements	Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued guidance, Revenue from Contracts with Customers, which amended the existing accounting standards for revenue recognition. Refer to Note 3 for additional discussion on the adoption of this standard on January 1, 2019. The FASB issued amended guidance, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments, which clarifies how certain cash receipts and cash payments are presented and classified in the condensed consolidated statements of cash flows. The amendments are aimed at reducing the existing diversity in practice. The Company adopted this guidance in the first quarter of 2019 applying a retrospective approach for each period presented. The adoption of this guidance did not have a material impact on the condensed consolidated financial statements. The FASB issued guidance, Leases, to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under previous accounting rules. The guidance requires that a lessee recognize a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term on the balance sheet. This guidance is required to be adopted by the Company beginning in the first quarter of 2020 and must be applied using a modified retrospective approach. The Company is currently evaluating the impact this guidance will have on the consolidated financial statements. The FASB issued amended guidance, Intangibles – Goodwill and other (Topic 350): Simplifying the Test for Goodwill Impairment. The amended standard simplifies how an entity tests goodwill by eliminating Step 2 of the goodwill impairment test related to measuring an impairment charge. Instead, impairment will be recorded for the amount that the carrying amount of a reporting unit exceeds its fair value. This new guidance is effective for the Company beginning in the first quarter of 2021. The adoption of this guidance is not expected to have a material impact on the consolidated financial statements. The FASB issued guidance, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments, regarding the measurement of credit losses for certain financial instruments. The new standard replaces the incurred loss model with a current expected credit loss (“CECL”) model. The CECL model is based on historical experience, adjusted for current conditions and reasonable and supportable forecasts. The Company is required to adopt the new standard beginning in the first quarter of 2022. The Company is currently evaluating the impact this guidance will have on the consolidated financial statements.
Reclassifications	Reclassifications Certain reclassifications have been made to prior-year amounts to conform with current presentation.

FINTECH MERGER (Tables)

6 Months Ended

Jun. 30, 2019

FINTECH MERGER [Abstract]

Net Cash Proceeds Received in Reverse Recapitalization

In accounting for the reverse recapitalization, the net cash proceeds received in the third quarter of 2018 from FinTech amounted to $5.0 thousand as shown in the table below (in thousands):

Cash balance available to Intermex prior to the consummation of the Merger	$	110,726
Less:
Intermex Merger costs paid from acquisition proceeds at closing		(9,062	)
Cash consideration to Intermex shareholders		(101,659	)
Net cash proceeds from reverse recapitalization	$	5

Cash balance available to Intermex prior to the consummation of the Merger	$	110,726
Less:
Cash consideration to Intermex shareholders		(101,659	)
Other FinTech assets acquired and liabilities assumed in the Merger:
Prepaid expenses		76
Accrued liabilities		(136	)
Deferred tax assets		982
Net equity infusion from FinTech	$	9,989

OTHER PREPAID EXPENSES AND CURRENT ASSETS (Tables)

6 Months Ended

Jun. 30, 2019

OTHER PREPAID EXPENSES AND CURRENT ASSETS [Abstract]

Other Prepaid Expenses and Current Assets

Other prepaid expenses and current assets consisted of the following (in thousands):

	June 30, 2019		December 31, 2018

Prepaid insurance	$	190	$	300
Prepaid fees		807		719
Notes receivable		502		451
Other prepaid expenses and current assets		761		1,701
	$	2,260	$	3,171

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)

6 Months Ended

Jun. 30, 2019

GOODWILL AND OTHER INTANGIBLE ASSETS [Abstract]

Changes in Goodwill and Other Intangible Assets

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

	Goodwill		Other Intangibles
Balance at December 31, 2018	$	36,260	$	36,395
Acquisition of agent locations		-		335
Amortization expense		-		(4,672	)
Balance at June 30, 2019	$	36,260	$	32,058

ACCRUED AND OTHER LIABILITIES (Tables)

6 Months Ended

Jun. 30, 2019

ACCRUED AND OTHER LIABILITIES [Abstract]

Accrued and Other Liabilities

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

	June 30, 2019		December 31, 2018

Payables to agents	$	9,962	$	8,972
Accrued compensation		1,419		2,344
Accrued bank charges		978		983
Accrued loyalty program reserve		-		621
Accrued interest		1,226		1,009
Accrued legal fees		50		920
Accrued taxes		1,467		745
Deferred revenue loyalty program liability		2,322		-
Other		1,851		761
	$	19,275	$	16,355

Changes in Deferred Revenue Loyalty Program Liability

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

Balance, December 31, 2018	$	-
Adoption of ASC 606		1,976
Revenue deferred during the period		1,378
Revenue recognized during the period		(1,032	)
Balance, June 30, 2019	$	2,322

DEBT (Tables)

6 Months Ended

Jun. 30, 2019

DEBT [Abstract]

Debt Instruments

Debt consisted of the following (in thousands):

	June 30, 2019			December 31, 2018

Revolving credit facility	$	35,000		$	30,000
Term loan		99,598			90,000
		134,598			120,000
Less: Current portion of long-term debt ⁽¹⁾		(5,767	)		(3,936	)
Less: Debt origination costs		(2,687	)		(2,738	)
	$	126,144		$	113,326

⁽¹⁾	Current portion of long-term debt is net of debt origination costs of $0.6 million at June 30, 2019 and December 31, 2018.

- 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

Reference 1: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 210
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.5-02.22)
-URI http://asc.fasb.org/extlink&oid=6877327&loc=d3e13212-122682

Reference 2: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
-Topic 835
-SubTopic 30
-Section 45
-Paragraph 1A
-URI http://asc.fasb.org/extlink&oid=114775744&loc=d3e28541-108399

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-Name Accounting Standards Codification
-Topic 505
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-Section 50
-Paragraph 6
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-Name Accounting Standards Codification
-Topic 235
-SubTopic 10
-Section S99
-Paragraph 1
-Subparagraph (SX 210.4-08.(e),(f))
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Reference 8: http://fasb.org/us-gaap/role/ref/legacyRef
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-Name Accounting Standards Codification
-Topic 942
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Reference 9: http://fasb.org/us-gaap/role/ref/legacyRef
-Publisher FASB
-Name Accounting Standards Codification
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Reference 10: http://fasb.org/us-gaap/role/ref/legacyRef
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-Topic 505
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-URI http://asc.fasb.org/extlink&oid=109259400&loc=d3e21475-112644

+ Details

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION (Tables)

6 Months Ended

Jun. 30, 2019

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION [Abstract]

Stock Option Activity

A summary of the stock option activity during the six months ended June 30, 2019 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, 2018		2,881,219		$	10.00		9.60	$	3.47
Granted		45,000			11.01				3.71
Exercised		-			-				-
Forfeited		(148,500	)		10.58				3.67
Expired		-			-				-
Outstanding at June 30, 2019		2,777,719		$	9.99		9.10	$	3.46

INCOME PER SHARE (Tables)

6 Months Ended

Jun. 30, 2019

INCOME PER SHARE [Abstract]

Basic and Diluted Net Income (Loss) per Share

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

	Three Months Ended June 30,				Six Months Ended June 30,

	2019		2018		2019		2018

Net income for basic and diluted income per common share	$	7,074	$	1,844	$	10,230	$	1,304

Shares:
Weighted-average common shares outstanding – basic		37,505,598		17,227,682		36,847,845		17,227,682
Effect of dilutive securities:
Restricted stock		17,762		-		15,221		-
Stock options		19,762		-		9,881		-
Warrants		51,029		-		25,515		-
Weighted-average common shares outstanding – diluted		37,594,151		17,227,682		36,898,462		17,227,682

Net income per common share - basic and diluted	$	0.19	$	0.11	$	0.28	$	0.08

INCOME TAXES (Tables)

6 Months Ended

Jun. 30, 2019

INCOME TAXES [Abstract]

Reconciliation of Income Tax Expense (Benefit)

	Three Months Ended June 30,						Six Months Ended June 30,
	2019			2018			2019			2018

Income before income taxes	$	9,676		$	2,668		$	13,913		$	1,920
US statutory tax rate		21	%		21	%		21	%		21	%
Income tax expense at statutory rate		2,032			560			2,922			403

State tax expense, net of federal		545			157			795			116
Foreign tax rates different from US statutory rate		11			26			15			33
Non-deductible expenses		19			90			28			72
Credits		(5	)		-			(9	)		-
Other		-			(9	)		(68	)		(8	)
Total tax provision	$	2,602		$	824		$	3,683		$	616

COMMITMENTS AND CONTINGENCIES (Tables)

6 Months Ended

Jun. 30, 2019

COMMITMENTS AND CONTINGENCIES [Abstract]

Future Minimum Rental Payments

At June 30, 2019, future minimum rental payments required under operating leases for the remainder of 2019 and thereafter are as follows (in thousands):

2019	$	726
2020		1,314
2021		1,144
2022		939
2023		869
Thereafter		1,438
	$	6,431

BUSINESS AND ACCOUNTING POLICIES (Details)	Jun. 30, 2019
Intermex Wire Transfers de Guatemala, S.A. [Member]
Noncontrolling Interest Items [Abstract]
Ownership percentage	99.80%
Intermex Transfers de Mexico, S.A [Member]
Noncontrolling Interest Items [Abstract]
Ownership percentage	98.00%
Intermex Wire Transfer Corp [Member]
Noncontrolling Interest Items [Abstract]
Ownership percentage	100.00%
Intermex Wire Transfer II, LLC [Member]
Noncontrolling Interest Items [Abstract]
Ownership percentage	100.00%
Canada International Transfers Corp [Member]
Noncontrolling Interest Items [Abstract]
Ownership percentage	100.00%

FINTECH MERGER (Details) - USD ($) $ in Thousands		3 Months Ended		6 Months Ended
FINTECH MERGER (Details) - USD ($) $ in Thousands	Jul. 26, 2018	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018	May 31, 2019	Dec. 31, 2018
Reverse Recapitalization [Abstract]
Common shares, outstanding (in shares)	36,200,000	37,982,848		37,982,848		38,000,000	36,182,783
Warrants to purchase common stock (in shares)	9,000,000
Transaction cost		$ 0	$ 2,553	$ 0	$ 4,014
2018 Equity Compensation Plan [Member]
Reverse Recapitalization [Abstract]
Shares reserved for issuance (in shares)	3,400,000
Intermex [Member]
Reverse Recapitalization [Abstract]
Cash balance available to Intermex prior to the consummation of the Merger	$ 110,726
Intermex Merger costs paid from acquisition proceeds at closing	(9,062)
Cash consideration to shareholders	$ (101,659)
FinTech [Member]
Merger [Abstract]
Redemption of shares (in shares)	4,900,000
Gross redemption payments	$ 49,800
Number of outstanding shares subsequent to redemption (in shares)	18,900,000
Consideration paid in equity (in shares)	17,200,000
Reverse Recapitalization [Abstract]
Net cash proceeds from reverse recapitalization	$ 5
Prepaid expenses	76
Accrued liabilities	(136)
Deferred tax assets	982
Net equity infusion	$ 9,989

REVENUE RECOGNITION STANDARD (Details) - USD ($) $ in Thousands	3 Months Ended	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Revenue Recognition [Abstract]
Revenues from contracts with customers	$ 82,700	$ 151,000
Loyalty program reserve	$ 0	$ 0	$ 621
ASU 2014-09 [Member]
Revenue Recognition [Abstract]
Cumulative effect of new accounting pronouncement			(1,015)
Accumulated Deficit [Member] \| ASU 2014-09 [Member]
Revenue Recognition [Abstract]
Cumulative effect of new accounting pronouncement			$ (1,015)

OTHER PREPAID EXPENSES AND CURRENT ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Dec. 31, 2018
OTHER PREPAID EXPENSES AND CURRENT ASSETS [Abstract]
Prepaid insurance	$ 190	$ 300
Prepaid fees	807	719
Notes receivable	502	451
Other prepaid expenses and current assets	761	1,701
Prepaid expenses and other assets	$ 2,260	$ 3,171

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2019 USD ($)
Goodwill [Roll Forward]
Goodwill, beginning balance	$ 36,260
Acquisition of agent locations	0
Amortization expense	0
Goodwill, ending balance	36,260
Other Intangibles [Roll Forward]
Other intangible assets, beginning balance	36,395
Acquisition of agent locations	335
Amortization expense	(4,672)
Other intangible assets, ending balance	$ 32,058
Agent Relationships [Member]
Finite-Lived Intangible Assets [Abstract]
Intangible assets amortization period, under accelerated method	15 years
Trade Name [Member]
Finite-Lived Intangible Assets [Abstract]
Intangible assets amortization period, under accelerated method	15 years
Developed Technology [Member]
Finite-Lived Intangible Assets [Abstract]
Intangible assets amortization period, under accelerated method	15 years
Other Intangible Assets [Member]
Finite-Lived Intangible Assets [Abstract]
Intangible assets amortization period, straight line method	10 years

ACCRUED AND OTHER LIABILITIES (Details) - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2019	Jun. 30, 2019	Dec. 31, 2018
Accrued Liabilities and Other Liabilities [Abstract]
Payables to agents		$ 9,962	$ 8,972
Accrued compensation		1,419	2,344
Accrued bank charges		978	983
Accrued loyalty program reserve		0	621
Accrued interest		1,226	1,009
Accrued legal fees		50	920
Accrued taxes		1,467	745
Deferred revenue loyalty program liability	$ 2,322	2,322	0
Other		1,851	761
Accrued and other liabilities		$ 19,275	$ 16,355
Deferred Revenue Loyalty Program Liability [Abstract]
Beginning balance	0
Revenue deferred during the period	1,378
Revenue recognized during the period	(1,032)
Ending balance	2,322
ASU 606 [Member]
Deferred Revenue Loyalty Program Liability [Abstract]
Adoption of ASC 606	$ 1,976

DEBT (Details)
$ in Thousands

6 Months Ended

Apr. 29, 2019

USD ($)

Nov. 07, 2018

USD ($)

Jun. 30, 2019

USD ($)

Jun. 30, 2018

USD ($)

Dec. 31, 2018

USD ($)

Debt Instruments [Abstract]

Long-term debt, gross

$ 134,598

$ 120,000

Less: Current portion of long term debt

^[1]

(5,767)

(3,936)

Less: Debt origination costs

(2,687)

(2,738)

Long-term debt, noncurrent

126,144

113,326

Debt origination costs, current

600

Proceeds from credit agreement

$ 12,000

$ 0

Minimum [Member]

Debt Instruments [Abstract]

Fixed charge coverage ratio

1.25

Maximum [Member]

Debt Instruments [Abstract]

Consolidated leverage ratio

3.25

Term Loan [Member]

Debt Instruments [Abstract]

Long-term debt, gross

$ 99,598

90,000

Revolving Credit Facility [Member]

Debt Instruments [Abstract]

Long-term debt, gross

$ 35,000

$ 30,000

Credit Agreement [Member]

Debt Instruments [Abstract]

Maturity date

Nov. 07, 2023

Unused line fee percentage

0.35%

Credit Agreement [Member] | LIBOR [Member]

Debt Instruments [Abstract]

Interest rate

4.50%

Credit Agreement [Member] | Base Rate [Member]

Debt Instruments [Abstract]

Interest rate

3.50%

Credit Agreement [Member] | Term Loan [Member]

Debt Instruments [Abstract]

Aggregate principal amount

$ 90,000

Effective interest rate

8.34%

Frequency of principal payment

Quarterly

Credit Agreement [Member] | Term Loan [Member] | Year 1 [Member]

Debt Instruments [Abstract]

Periodic repayment percentage

5.00%

Credit Agreement [Member] | Term Loan [Member] | Year 2 [Member]

Debt Instruments [Abstract]

Periodic repayment percentage

7.50%

Credit Agreement [Member] | Term Loan [Member] | Year 3 [Member]

Debt Instruments [Abstract]

Periodic repayment percentage

7.50%

Credit Agreement [Member] | Term Loan [Member] | Year 4 [Member]

Debt Instruments [Abstract]

Periodic repayment percentage

10.00%

Credit Agreement [Member] | Term Loan [Member] | Year 5 [Member]

Debt Instruments [Abstract]

Periodic repayment percentage

10.00%

Credit Agreement [Member] | Revolving Credit Facility [Member]

Debt Instruments [Abstract]

Maximum borrowing capacity

$ 35,000

Effective interest rate

7.82%

Credit Agreement [Member] | Incremental Facility [Member]

Debt Instruments [Abstract]

Maximum borrowing capacity

$ 30,000

Increase Joinder [Member] | Incremental Facility [Member]

Debt Instruments [Abstract]

Proceeds from credit agreement

$ 12,000

[1]	Current portion of long-term debt is net of debt origination costs of $0.6 million at June 30, 2019 and December 31, 2018.

RELATED PARTY TRANSACTIONS (Details) $ in Thousands	6 Months Ended
RELATED PARTY TRANSACTIONS (Details) $ in Thousands	Jun. 30, 2019 USD ($)
RELATED PARTY TRANSACTIONS [Abstract]
Monthly management fees plus reimbursement expense	$ 65

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	2 Months Ended	3 Months Ended	6 Months Ended
	May 31, 2019	Jun. 30, 2019	Jun. 30, 2019	Jun. 30, 2018	Mar. 28, 2019	Dec. 31, 2018	Jul. 26, 2018
Share-based Compensation Arrangement [Abstract]
Common shares, outstanding (in shares)	38,000,000	37,982,848	37,982,848			36,182,783	36,200,000
Warrants to purchase common stock (in shares)							9,000,000
Common shares, authorized (in shares)		230,000,000	230,000,000			230,000,000
Common shares, issued (in shares)		37,982,848	37,982,848			36,182,783
Common stock, par value (in dollars per share)		$ 0.0001	$ 0.0001			$ 0.0001
Number of shares of common stock called by each warrant (in shares)		1	1
Warrant exercise price (in dollars per share)		$ 11.50	$ 11.50
Warrants exercisable period on completion of business combination			30 days
Warrants expiration period			5 years
Percentage of conversion consideration less than the exchange consideration					10.00%
Percentage of outstanding warrants					99.51%
Common stock issued in exchange of warrants (in shares)	1,800,000
Cash paid in exchange of warrants	$ 10,000		$ 10,031	$ 0
Tender Offer [Member]
Share-based Compensation Arrangement [Abstract]
Number of shares of common stock called by each warrant (in shares)					0.201
Common stock price (in dollars per share)					$ 1.12
Professional and legal fees		$ 400	$ 900
Warrant Amendment [Member]
Share-based Compensation Arrangement [Abstract]
Number of shares of common stock called by each warrant (in shares)					0.181
Common stock price (in dollars per share)					$ 1.00
Intermex [Member]
Share-based Compensation Arrangement [Abstract]
Percentage of outstanding common stock owned		48.30%	48.30%
FinTech [Member]
Share-based Compensation Arrangement [Abstract]
Percentage of outstanding common stock owned		51.70%	51.70%
FinTech [Member] \| Placement Warrants [Member]
Share-based Compensation Arrangement [Abstract]
Number of warrants issued (in shares)			200,000
FinTech [Member] \| Public Warrants [Member]
Share-based Compensation Arrangement [Abstract]
Number of warrants issued (in shares)			8,800,000

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION, 2018 Omnibus Equity Compensation Plan (Details) - 2018 Equity Compensation Plan [Member] $ / shares in Units, $ in Thousands		3 Months Ended	6 Months Ended	12 Months Ended
	Jul. 26, 2018 shares	Jun. 30, 2019 USD ($) $ / shares shares	Jun. 30, 2019 USD ($) Installments $ / shares shares	Dec. 31, 2018 $ / shares shares
Share-based Compensation Arrangement [Abstract]
Shares reserved for issuance (in shares)	3,400,000
Stock Option [Member]
Share-based Compensation Arrangement [Abstract]
Number of equal installments for options vesting \| Installments			4
Options vesting period			10 years
Share-based compensation expense \| $		$ 600	$ 1,300
Options vested (in shares)			0
Option exercisable (in shares)		0	0
Unrecognized compensation expense \| $		$ 7,400	$ 7,400
Weighted-average non-vested period			3 years 1 month 6 days
Number of Options [Roll Forward]
Outstanding, beginning balance (in shares)			2,881,219
Granted (in shares)	2,800,000		45,000
Exercised (in shares)			0
Forfeited (in shares)			(148,500)
Expired (in shares)			0
Outstanding, ending balance (in shares)		2,777,719	2,777,719	2,881,219
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning balance (in dollars per share) \| $ / shares			$ 10.00
Granted (in dollars per share) \| $ / shares			11.01
Exercised (in dollars per share) \| $ / shares			0
Forfeited (in dollars per share) \| $ / shares			10.58
Expired (in dollars per share) \| $ / shares			0
Outstanding, beginning ending (in dollars per share) \| $ / shares		$ 9.99	$ 9.99	$ 10.00
Weighted Average Remaining Contractual Term [Abstract]
Weighted average remaining contractual term			9 years 1 month 6 days	9 years 7 months 6 days
Weighted Average Grant Date Fair Value [Abstract]
Outstanding beginning balance (in dollars per share) \| $ / shares			$ 3.47
Granted (in dollars per share) \| $ / shares			3.71
Forfeited (in dollars per share) \| $ / shares			3.67
Outstanding (in dollars per share) \| $ / shares		$ 3.46	$ 3.46	$ 3.47
Restricted Stock Units [Member]
Share-based Compensation Arrangement [Abstract]
Restricted stock units granted (in shares)	21,200
Options vesting period			1 year
Share-based compensation expense \| $		$ 53	$ 105
Unrecognized compensation expense \| $		$ 17	$ 17
Restricted stock units, forfeited (in shares)		0	0
Restricted stock units, vested (in shares)		0	0

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION, Incentive Units (Details) - USD ($) $ in Millions	3 Months Ended	6 Months Ended
	Jun. 30, 2018	Jun. 30, 2018
Incentive Units [Member]
Share-based Compensation Arrangement [Abstract]
Share-based compensation expense	$ 0.5	$ 0.7

INCOME PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Income Per Share, Basic and Diluted [Abstract]
Net income for basic and diluted income per common share	$ 7,074	$ 1,844	$ 10,230	$ 1,304
Shares [Abstract]
Weighted-average common shares outstanding - basic (in shares)	37,505,598	17,227,682	36,847,845	17,227,682
Weighted-average common shares outstanding - diluted (in shares)	37,594,151	17,227,682	36,898,462	17,227,682
Net income per common share - basic and diluted (in dollars per share)	$ 0.19	$ 0.11	$ 0.28	$ 0.08
Securities excluded from computation of diluted loss per share (in shares)			117,500
Restricted Stock [Member]
Shares [Abstract]
Effect of dilutive securities (in shares)	17,762	0	15,221	0
Stock Options [Member]
Shares [Abstract]
Effect of dilutive securities (in shares)	19,762	0	9,881	0
Warrants [Member]
Shares [Abstract]
Effect of dilutive securities (in shares)	51,029	0	25,515	0

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
INCOME TAXES (Details) - USD ($) $ in Thousands	Jun. 30, 2019	Jun. 30, 2018	Jun. 30, 2019	Jun. 30, 2018
Reconciliation of Income Tax Expense (Benefit) [Abstract]
Income before income taxes	$ 9,676	$ 2,668	$ 13,913	$ 1,920
U.S. statutory tax rate	21.00%	21.00%	21.00%	21.00%
Income tax expense at statutory rate	$ 2,032	$ 560	$ 2,922	$ 403
State tax expense, net of federal	545	157	795	116
Foreign tax rates different from U.S. statutory rate	11	26	15	33
Non-deductible expenses	19	90	28	72
Credits	(5)	0	(9)	0
Other	0	(9)	(68)	(8)
Total tax provision	2,602	$ 824	3,683	$ 616
Accrued interest and tax penalties	0		0
Uncertain tax positions	$ 0		$ 0

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	3 Months Ended		6 Months Ended
COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Jun. 30, 2019 USD ($) State Territory Country	Jun. 30, 2018 USD ($)	Jun. 30, 2019 USD ($) State Territory Country	Jun. 30, 2018 USD ($)
Leases [Abstract]
Rent expense	$ 500	$ 500	$ 1,000	$ 900
Future Minimum Rental Payments [Abstract]
2019	727		727
2020	1,314		1,314
2021	1,144		1,144
2022	939		939
2023	869		869
Thereafter	1,438		1,438
Total	$ 6,431		$ 6,431
Contingencies [Abstract]
Number of states in which entity operates \| State	50		50
Number of territories in which entity operates \| Territory	2		2
Number of countries in which entity operates \| Country	3		3