$IMXI
International Money Express, Inc.

2019 Q2 Form 10-Q Financial Statement

#000114036119014829 Filed on August 12, 2019

View on sec.gov

Income Statement

Concept 2019 Q2 2018 Q2 2018 Q1
Revenue $82.68M $70.38M $55.96M
YoY Change 17.47% 287.91%
Cost Of Revenue
YoY Change
Gross Profit
YoY Change
Gross Profit Margin
Selling, General & Admin $67.60M $57.90M $48.20M
YoY Change 16.75%
% of Gross Profit
Research & Development
YoY Change
% of Gross Profit
Depreciation & Amortization $3.155M $3.818M $3.790M
YoY Change -17.37% 892.15%
% of Gross Profit
Operating Expenses $70.71M $64.32M $53.42M
YoY Change 9.94% 64219.0% 176.32%
Operating Profit $11.96M $6.060M $2.537M
YoY Change 97.43% -151.7%
Interest Expense $2.288M $3.392M $3.284M
YoY Change -32.55% 1030.67% 434.85%
% of Operating Profit 19.12% 55.97% 129.44%
Other Income/Expense, Net
YoY Change
Pretax Income $9.676M $2.668M -$747.0K
YoY Change 262.67% 1234.0% -86.47%
Income Tax $2.602M $824.0K -$207.0K
% Of Pretax Income 26.89% 30.88%
Net Earnings $7.074M $1.844M -$540.0K
YoY Change 283.62% 1744.0% -83.73%
Net Earnings / Revenue 8.56% 2.62% -0.97%
Basic Earnings Per Share
Diluted Earnings Per Share $189.3K $50.14K -$29.07K
COMMON SHARES
Basic Shares Outstanding 37.51M shares 17.23M shares 17.23M shares
Diluted Shares Outstanding 37.59M shares 17.23M shares 17.23M shares

Balance Sheet

Concept 2019 Q2 2018 Q2 2018 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $106.9M $100.0K $100.0K
YoY Change 106800.0% -50.0% -50.0%
Cash & Equivalents $106.9M $61.98M
Short-Term Investments
Other Short-Term Assets $11.20M $100.0K $100.0K
YoY Change 11100.0% 0.0% 0.0%
Inventory
Prepaid Expenses $8.890M
Receivables $93.03M
Other Receivables $0.00
Total Short-Term Assets $211.1M $200.0K $200.0K
YoY Change 105431.5% 0.0% -33.33%
LONG-TERM ASSETS
Property, Plant & Equipment $11.07M
YoY Change
Goodwill $36.26M
YoY Change
Intangibles $32.06M
YoY Change
Long-Term Investments $176.4M $175.8M
YoY Change 0.57% 0.4%
Other Assets $1.993M
YoY Change
Total Long-Term Assets $83.31M $176.4M $175.8M
YoY Change -52.77% 0.57% 0.4%
TOTAL ASSETS
Total Short-Term Assets $211.1M $200.0K $200.0K
Total Long-Term Assets $83.31M $176.4M $175.8M
Total Assets $294.4M $176.6M $176.0M
YoY Change 66.69% 0.57% 0.34%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $14.45M
YoY Change
Accrued Expenses $7.800M $700.0K $500.0K
YoY Change 1014.29%
Deferred Revenue $2.322M
YoY Change
Short-Term Debt $0.00 $400.0K $100.0K
YoY Change -100.0%
Long-Term Debt Due $5.767M
YoY Change
Total Short-Term Liabilities $123.3M $1.300M $700.0K
YoY Change 9382.54% 1200.0%
LONG-TERM LIABILITIES
Long-Term Debt $126.1M $0.00 $0.00
YoY Change
Other Long-Term Liabilities $9.200M $9.200M
YoY Change 0.0% 0.0%
Total Long-Term Liabilities $126.1M $9.200M $9.200M
YoY Change 1271.13% 0.0% 0.0%
TOTAL LIABILITIES
Total Short-Term Liabilities $123.3M $1.300M $700.0K
Total Long-Term Liabilities $126.1M $9.200M $9.200M
Total Liabilities $249.4M $10.50M $9.900M
YoY Change 2275.4% 12.9% 7.61%
SHAREHOLDERS EQUITY
Retained Earnings -$8.203M
YoY Change
Common Stock $4.000K
YoY Change
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $44.96M $37.90M $35.61M
YoY Change
Total Liabilities & Shareholders Equity $294.4M $176.6M $176.0M
YoY Change 66.69% 0.57% 0.34%

Cashflow Statement

Concept 2019 Q2 2018 Q2 2018 Q1
OPERATING ACTIVITIES
Net Income $7.074M $1.844M -$540.0K
YoY Change 283.62% 1744.0% -83.73%
Depreciation, Depletion And Amortization $3.155M $3.818M $3.790M
YoY Change -17.37% 892.15%
Cash From Operating Activities $2.870M -$19.41M $18.05M
YoY Change -114.79% 27628.57% 108.62%
INVESTING ACTIVITIES
Capital Expenditures -$1.220M -$1.510M
YoY Change -706.43%
Acquisitions
YoY Change
Other Investing Activities $660.0K
YoY Change
Cash From Investing Activities -$1.220M $2.170M -$1.510M
YoY Change -156.22% 506.43%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 20.46M 1.600M -1.210M
YoY Change 1178.75% -39.5%
NET CHANGE
Cash From Operating Activities 2.870M -19.41M 18.05M
Cash From Investing Activities -1.220M 2.170M -1.510M
Cash From Financing Activities 20.46M 1.600M -1.210M
Net Change In Cash 22.11M -15.64M 15.33M
YoY Change -241.37% 22242.86% 140.02%
FREE CASH FLOW
Cash From Operating Activities $2.870M -$19.41M $18.05M
Capital Expenditures -$1.220M -$1.510M
Free Cash Flow $4.090M $19.56M
YoY Change 132.77%

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CY2019Q2 us-gaap Long Term Debt Current
LongTermDebtCurrent
5767000
CY2018Q4 us-gaap Long Term Debt Current
LongTermDebtCurrent
3936000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
6930000
us-gaap Net Cash Provided By Used In Operating Activities
NetCashProvidedByUsedInOperatingActivities
32086000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2238000
us-gaap Net Cash Provided By Used In Investing Activities
NetCashProvidedByUsedInInvestingActivities
-2663000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
4327000
us-gaap Net Cash Provided By Used In Financing Activities
NetCashProvidedByUsedInFinancingActivities
-2425000
us-gaap Net Income Loss
NetIncomeLoss
10230000
us-gaap Net Income Loss
NetIncomeLoss
1304000
CY2018Q2 us-gaap Net Income Loss
NetIncomeLoss
1844000
CY2019Q2 us-gaap Net Income Loss
NetIncomeLoss
7074000
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
85000
us-gaap Noncash Or Part Noncash Acquisition Net Nonmonetary Assets Acquired Liabilities Assumed1
NoncashOrPartNoncashAcquisitionNetNonmonetaryAssetsAcquiredLiabilitiesAssumed1
0
CY2019Q2 us-gaap Number Of Countries In Which Entity Operates
NumberOfCountriesInWhichEntityOperates
3
CY2019Q2 us-gaap Number Of States In Which Entity Operates
NumberOfStatesInWhichEntityOperates
50
us-gaap Operating Expenses
OperatingExpenses
117739000
us-gaap Operating Income Loss
OperatingIncomeLoss
8596000
CY2018Q2 us-gaap Operating Expenses
OperatingExpenses
64319000
CY2019Q2 us-gaap Operating Expenses
OperatingExpenses
70711000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Remainder Of Fiscal Year
OperatingLeasesFutureMinimumPaymentsRemainderOfFiscalYear
727000
CY2018Q2 us-gaap Other Income
OtherIncome
426000
us-gaap Other Income
OtherIncome
1058000
us-gaap Operating Income Loss
OperatingIncomeLoss
18271000
CY2018Q2 us-gaap Operating Income Loss
OperatingIncomeLoss
6060000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Two Years
OperatingLeasesFutureMinimumPaymentsDueInTwoYears
1314000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Five Years
OperatingLeasesFutureMinimumPaymentsDueInFiveYears
869000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Four Years
OperatingLeasesFutureMinimumPaymentsDueInFourYears
939000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due In Three Years
OperatingLeasesFutureMinimumPaymentsDueInThreeYears
1144000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due
OperatingLeasesFutureMinimumPaymentsDue
6431000
CY2019Q2 us-gaap Operating Leases Future Minimum Payments Due Thereafter
OperatingLeasesFutureMinimumPaymentsDueThereafter
1438000
CY2019Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
35000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
43000
CY2018Q2 us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-36000
us-gaap Other Comprehensive Income Loss Foreign Currency Transaction And Translation Adjustment Net Of Tax
OtherComprehensiveIncomeLossForeignCurrencyTransactionAndTranslationAdjustmentNetOfTax
-15000
CY2019Q2 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1993000
CY2018Q4 us-gaap Other Assets Noncurrent
OtherAssetsNoncurrent
1874000
CY2019Q2 us-gaap Other Income
OtherIncome
562000
us-gaap Other Income
OtherIncome
797000
CY2019Q2 us-gaap Other Liabilities
OtherLiabilities
1851000
CY2018Q4 us-gaap Other Liabilities
OtherLiabilities
761000
CY2018Q4 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
1701000
CY2019Q2 us-gaap Other Prepaid Expense Current
OtherPrepaidExpenseCurrent
761000
CY2018Q2 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
4184000
us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
8185000
CY2019Q2 us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
5337000
us-gaap Other Selling General And Administrative Expense
OtherSellingGeneralAndAdministrativeExpense
11061000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
43000
us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-15000
CY2018Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
-36000
CY2019Q2 us-gaap Other Comprehensive Income Loss Net Of Tax Portion Attributable To Parent
OtherComprehensiveIncomeLossNetOfTaxPortionAttributableToParent
35000
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
0
us-gaap Payments To Acquire Businesses Net Of Cash Acquired
PaymentsToAcquireBusinessesNetOfCashAcquired
250000
us-gaap Payments For Repurchase Of Warrants
PaymentsForRepurchaseOfWarrants
10031000
us-gaap Payments For Repurchase Of Warrants
PaymentsForRepurchaseOfWarrants
0
CY2019Q2 us-gaap Payments For Repurchase Of Warrants
PaymentsForRepurchaseOfWarrants
10000000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
240000
us-gaap Payments Of Debt Issuance Costs
PaymentsOfDebtIssuanceCosts
0
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2413000
us-gaap Payments To Acquire Property Plant And Equipment
PaymentsToAcquirePropertyPlantAndEquipment
2238000
CY2018Q4 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
3171000
CY2019Q2 us-gaap Prepaid Expense And Other Assets Current
PrepaidExpenseAndOtherAssetsCurrent
2260000
CY2019Q2 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
8890000
CY2018Q4 us-gaap Prepaid Expense Current
PrepaidExpenseCurrent
26655000
CY2018Q4 us-gaap Prepaid Insurance
PrepaidInsurance
300000
CY2019Q2 us-gaap Prepaid Insurance
PrepaidInsurance
190000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
0
CY2019Q2 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
11071000
CY2018Q4 us-gaap Property Plant And Equipment Net
PropertyPlantAndEquipmentNet
10393000
us-gaap Provision For Doubtful Accounts
ProvisionForDoubtfulAccounts
385000
us-gaap Prior Period Reclassification Adjustment Description
PriorPeriodReclassificationAdjustmentDescription
<div style="font-family: 'Times New Roman'; font-size: 10pt;"><div></div><div><u><font style="font-style: normal;">Reclassifications</font></u><br /></div><div><br /></div><div>Certain reclassifications have been made to prior-year amounts to conform with current presentation.<br /></div></div>
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
5000000
us-gaap Proceeds From Repayments Of Lines Of Credit
ProceedsFromRepaymentsOfLinesOfCredit
-2425000
us-gaap Proceeds From Issuance Of Secured Debt
ProceedsFromIssuanceOfSecuredDebt
12000000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
2402000
us-gaap Repayments Of Secured Debt
RepaymentsOfSecuredDebt
0
CY2018Q4 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-17418000
CY2019Q2 us-gaap Retained Earnings Accumulated Deficit
RetainedEarningsAccumulatedDeficit
-8203000
CY2018Q2 us-gaap Revenues
Revenues
70379000
us-gaap Revenues
Revenues
151024000
CY2019Q2 us-gaap Revenues
Revenues
82675000
us-gaap Revenues
Revenues
126335000
us-gaap Share Based Compensation
ShareBasedCompensation
713000
us-gaap Share Based Compensation
ShareBasedCompensation
1260000
us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
10031000
CY2019Q2 us-gaap Stock Issued During Period Value Conversion Of Convertible Securities
StockIssuedDuringPeriodValueConversionOfConvertibleSecurities
10031000
CY2019Q2 us-gaap Stock Issued During Period Shares Conversion Of Convertible Securities
StockIssuedDuringPeriodSharesConversionOfConvertibleSecurities
1800000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
1260000
CY2019Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
634000
us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
713000
CY2018Q2 us-gaap Stock Issued During Period Value Share Based Compensation
StockIssuedDuringPeriodValueShareBasedCompensation
485000
CY2019Q2 us-gaap Stockholders Equity
StockholdersEquity
44960000
CY2018Q4 us-gaap Stockholders Equity
StockholdersEquity
44473000
CY2018Q1 us-gaap Stockholders Equity
StockholdersEquity
35611000
CY2019Q1 us-gaap Stockholders Equity
StockholdersEquity
47248000
CY2017Q4 us-gaap Stockholders Equity
StockholdersEquity
35902000
CY2018Q2 us-gaap Stockholders Equity
StockholdersEquity
37904000
CY2019Q2 us-gaap Unrecognized Tax Benefits Income Tax Penalties And Interest Accrued
UnrecognizedTaxBenefitsIncomeTaxPenaltiesAndInterestAccrued
0
CY2018Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17227682
CY2019Q2 us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
37505598
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
17227682
us-gaap Weighted Average Number Of Shares Outstanding Basic
WeightedAverageNumberOfSharesOutstandingBasic
36847845
CY2018Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17227682
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
36898462
CY2019Q2 us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
37594151
us-gaap Weighted Average Number Of Diluted Shares Outstanding
WeightedAverageNumberOfDilutedSharesOutstanding
17227682
imxi Increase Decrease In Wire Transfer And Money Order Payables
IncreaseDecreaseInWireTransferAndMoneyOrderPayables
47222000
imxi Increase Decrease In Wire Transfer And Money Order Payables
IncreaseDecreaseInWireTransferAndMoneyOrderPayables
1787000
CY2018Q2 imxi Wire Transfer And Money Order Fees
WireTransferAndMoneyOrderFees
59368000
imxi Wire Transfer And Money Order Fees
WireTransferAndMoneyOrderFees
128941000
imxi Wire Transfer And Money Order Fees
WireTransferAndMoneyOrderFees
107222000
CY2019Q2 imxi Wire Transfer And Money Order Fees
WireTransferAndMoneyOrderFees
70490000
imxi Service Charges From Agents And Banks
ServiceChargesFromAgentsAndBanks
100191000
CY2019Q2 imxi Service Charges From Agents And Banks
ServiceChargesFromAgentsAndBanks
54622000
CY2018Q2 imxi Service Charges From Agents And Banks
ServiceChargesFromAgentsAndBanks
46323000
imxi Service Charges From Agents And Banks
ServiceChargesFromAgentsAndBanks
84260000
CY2019Q2 imxi Wire Transfers And Money Orders Payable Current
WireTransfersAndMoneyOrdersPayableCurrent
83780000
CY2018Q4 imxi Wire Transfers And Money Orders Payable Current
WireTransfersAndMoneyOrdersPayableCurrent
36311000
CY2019Q2 imxi Number Of Territories In Which Entity Operates
NumberOfTerritoriesInWhichEntityOperates
2
imxi Warrants Expiration Period
WarrantsExpirationPeriod
P5Y
CY2019Q1 imxi Percentage Of Outstanding Warrants
PercentageOfOutstandingWarrants
0.9951
CY2019Q1 imxi Percentage Of Conversion Consideration Less Than The Exchange Consideration
PercentageOfConversionConsiderationLessThanTheExchangeConsideration
0.1
imxi Warrant Exercisable Period After Completion Of Initial Business Combination
WarrantExercisablePeriodAfterCompletionOfInitialBusinessCombination
P30D
imxi Contract With Customer Liability Revenue Deferred
ContractWithCustomerLiabilityRevenueDeferred
1378000
CY2019Q2 imxi Bank Charges Payable Current
BankChargesPayableCurrent
978000
CY2018Q4 imxi Bank Charges Payable Current
BankChargesPayableCurrent
983000
CY2018Q4 imxi Accrued Legal Fees Current
AccruedLegalFeesCurrent
920000
CY2018Q4 imxi Accounts Payable To Agents Current
AccountsPayableToAgentsCurrent
8972000
CY2019Q2 imxi Accounts Payable To Agents Current
AccountsPayableToAgentsCurrent
9962000
CY2018Q4 imxi Accrued Loyalty Program Rebates Current
AccruedLoyaltyProgramRebatesCurrent
621000
CY2019Q2 imxi Accrued Loyalty Program Rebates Current
AccruedLoyaltyProgramRebatesCurrent
0
CY2019Q2 imxi Accrued Legal Fees Current
AccruedLegalFeesCurrent
50000
CY2018Q4 imxi Notes Receivable Current
NotesReceivableCurrent
451000
CY2019Q2 imxi Notes Receivable Current
NotesReceivableCurrent
502000
CY2019Q2 imxi Prepaid Fees
PrepaidFees
807000
CY2018Q4 imxi Prepaid Fees
PrepaidFees
719000

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