International Money Express, Inc.IMXI

International Money Express, Inc. Segments Disclosure

10-KFiled Mar 6, 20262 min read
SEGMENT REPORTING
The Company is a leading omnichannel money remittance services company focused primarily on the U.S. to LAC corridor, which includes Mexico, Central and South America and the Caribbean. We also provide our remittances services to Africa and Asia from the United States and offer sending services from Canada to Latin America and Africa as well as remittance services from Spain, Italy and Germany to Africa, Asia, Europe and Latin America. The Company has identified one operating and reportable segment. The Company defines its segment on the basis of the way in which internally reported financial information is regularly reviewed by the Company’s chief operating decision maker (the “CODM”) to analyze financial performance, make decisions, and allocate resources.

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

The table below provides information about the Company's measure of segment performance and significant expense categories:
Year Ended December 31,
202520242023
Revenues:
Wire transfer and money order fees, net$502,155 $554,801 $561,540 
Foreign exchange gain, net87,160 88,944 87,908 
Other income18,461 14,904 9,287 
Total revenues607,776 658,649 658,735 
Less:
Agent commissions255,333 281,157 284,157 
Payer commissions96,543 108,697 110,865 
Bank charges and fees26,573 26,497 25,065 
Salaries and benefits75,036 68,247 70,203 
Other segment items (1)
61,149 54,100 53,433 
Provision for credit losses
7,916 6,411 4,997 
Restructuring costs742 3,060 1,214 
Transaction costs10,464 1,819 445 
Goodwill impairment
1,209 — — 
Depreciation and amortization17,161 13,645 12,866 
Total operating expenses552,126 563,633 563,245 
Operating income55,650 95,016 95,490 
Gain contingency
3,286 — — 
Interest expense11,836 11,745 10,426 
Income before income taxes47,100 83,271 85,064 
Income tax provision14,429 24,450 25,549 
Net income
$32,671 $58,821 $59,515 
(1) Other segment items included in Segment net income is primarily composed of other selling, general and administrative expenses, transaction processing costs, and other overhead expenses.
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Historical Timeline

Fiscal YearFiled
2025Mar 6, 2026Showing above
2024Feb 27, 2025

About Segments Disclosures

Segment disclosures break a company into its reportable operating units, revealing revenue, profit, and asset allocation that consolidated financial statements obscure. Under ASC 280, segments must match how the chief operating decision maker views the business, providing a window into internal management structure and resource allocation priorities.

Key signals: compare segment margins to identify which units drive profitability and which destroy value. Watch for changes in the number of reportable segments — segment aggregation or disaggregation often coincides with strategic shifts or attempts to obscure declining performance. Intersegment elimination patterns reveal internal pricing practices. The reconciliation between segment totals and consolidated figures exposes corporate overhead allocation and unallocated items. Geographic revenue concentration highlights regulatory and currency exposure. Compare segment-level capital expenditure against segment revenue to assess where management is investing for future growth versus harvesting existing assets.

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