International Money Express (IMXI) 10-Q 12 Nov 19 2019 Q3 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	9 Months Ended
	Sep. 30, 2019	Nov. 05, 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		38,007,611
Document Type	10-Q
Amendment Flag	false
Document Period End Date	Sep. 30, 2019
Document Fiscal Year Focus	2019
Document Fiscal Period Focus	Q3
Entity Address, State or Province	FL

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) - USD ($) $ in Thousands		Sep. 30, 2019	Dec. 31, 2018
Current assets:
Cash		$ 94,189	$ 73,029
Accounts receivable, net of allowance of $772 and $842, respectively		53,763	35,795
Prepaid wires		9,382	26,655
Other prepaid expenses and current assets		2,267	3,171
Total current assets		159,601	138,650
Property and equipment, net		11,550	10,393
Goodwill		36,260	36,260
Intangible assets, net		29,720	36,395
Deferred tax asset, net		2,032	2,267
Other assets		1,744	1,874
Total assets		240,907	225,839
Current liabilities:
Current portion of long-term debt, net	[1]	6,405	3,936
Accounts payable		14,100	11,438
Wire transfers and money orders payable		57,339	36,311
Accrued and other liabilities		24,061	16,355
Total current liabilities		101,905	68,040
Long-term liabilities:
Debt, net		89,383	113,326
Total long term liabilities		89,383	113,326
Commitments and Contingencies, see Note 13
Stockholders' equity:
Common stock $0.0001 par value; [230,000,000] shares authorized, 38,005,623 and 36,182,783 shares issued and outstanding as of September 30, 2019 and December 31, 2018, respectively.		4	4
Additional paid-in capital		53,748	61,889
Accumulated deficit		(4,165)	(17,418)
Accumulated other comprehensive income (loss)		32	(2)
Total stockholders' equity		49,619	44,473
Total liabilities and stockholders' equity		$ 240,907	$ 225,839
[1]	Current portion of long-term debt is net of debt origination costs of $0.6 million both at September 30, 2019 and December 31, 2018.

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Unaudited) (Parenthetical) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
Current assets:
Accounts receivable, allowance	$ 772	$ 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)	38,005,623	36,182,783
Common shares, outstanding (in shares)	38,005,623	36,182,783

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME (LOSS) (Unaudited) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Revenues:
Revenues	$ 85,334	$ 72,508	$ 236,359	$ 198,844
Operating expenses:
Service charges from agents and banks	56,319	48,305	156,510	132,565
Salaries and benefits	7,612	10,959	22,806	24,633
Other selling, general and administrative expenses	9,788	5,207	20,850	13,390
Transaction costs	0	6,305	0	10,319
Depreciation and amortization	3,179	4,142	9,486	11,750
Total operating expenses	76,898	74,918	209,652	192,657
Operating income (loss)	8,436	(2,410)	26,707	6,187
Interest expense	2,145	3,434	6,503	10,110
Income (loss) before income taxes	6,291	(5,844)	20,204	(3,923)
Income tax provision	2,253	7,569	5,936	8,186
Net income (loss)	4,038	(13,413)	14,268	(12,109)
Other comprehensive (loss) income	(9)	22	34	7
Comprehensive income (loss)	$ 4,029	$ (13,391)	$ 14,302	$ (12,102)
Income (loss) per common share:
Basic and diluted (in dollars per share)	$ 0.11	$ (0.43)	$ 0.38	$ (0.55)
Weighted-average common shares outstanding:
Basic (in shares)	37,984,316	30,975,338	37,230,831	21,827,082
Diluted (in shares)	38,286,702	30,975,338	37,365,371	21,827,082
Wire Transfer and Money Order Fees, Net [Member]
Revenues:
Revenues	$ 72,468	$ 61,332	$ 201,410	$ 168,554
Foreign Exchange Gain [Member]
Revenues:
Revenues	12,272	10,697	33,297	29,013
Other Income [Member]
Revenues:
Revenues	$ 594	$ 479	$ 1,652	$ 1,277

CONDENSED CONSOLIDATED STATEM_2

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 equity infusion from reverse recapitalization	$ 2	8,962	0	0	8,964
Net equity infusion from reverse recapitalization (in shares)	18,955,101
Net income (loss)	$ 0	0	(12,109)	0	(12,109)
Issuance of common stock:
Exercise of stock options					0
Share-based compensation	0	5,166	0	0	5,166
Adjustment from foreign currency translation, net	0	0	0	7	7
Balance at Sep. 30, 2018	$ 4	60,204	(22,283)	5	37,930
Balance (in shares) at Sep. 30, 2018	36,182,783
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]
Net equity infusion from reverse recapitalization	$ 2	8,962	0	0	8,964
Net equity infusion from reverse recapitalization (in shares)	18,955,101
Net income (loss)	$ 0	0	(13,413)	0	(13,413)
Issuance of common stock:
Share-based compensation	0	4,453	0	0	4,453
Adjustment from foreign currency translation, net	0	0	0	22	22
Balance at Sep. 30, 2018	$ 4	60,204	(22,283)	5	37,930
Balance (in shares) at Sep. 30, 2018	36,182,783
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 (loss)	$ 0	0	14,268	0	14,268
Issuance of common stock:
Exercise of stock options	$ 0	(4)	0	0	(4)
Exercise of stock options (in shares)	1,583
Restricted stock units	$ 0	0	0	0	0
Restricted stock units (in shares)	21,192
Share-based compensation	$ 0	1,894	0	0	1,894
Adjustment from foreign currency translation, net	0	0	0	34	34
Balance at Sep. 30, 2019	$ 4	53,748	(4,165)	32	49,619
Balance (in shares) at Sep. 30, 2019	38,005,623
Balance at Jun. 30, 2019	$ 4	53,118	(8,203)	41	44,960
Balance (in shares) at Jun. 30, 2019	37,982,848
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income (loss)	$ 0	0	4,038	0	4,038
Issuance of common stock:
Exercise of stock options	$ 0	(4)	0	0	(4)
Exercise of stock options (in shares)	1,583
Restricted stock units	$ 0	0	0	0	0
Restricted stock units (in shares)	21,192
Share-based compensation	$ 0	634	0	0	634
Adjustment from foreign currency translation, net	0	0	0	(9)	(9)
Balance at Sep. 30, 2019	$ 4	$ 53,748	$ (4,165)	$ 32	$ 49,619
Balance (in shares) at Sep. 30, 2019	38,005,623

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS (Unaudited) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018
Cash flows from operating activities:
Net income (loss)	$ 14,268	$ (12,109)
Adjustments to reconcile net income (loss) to net cash provided by operating activities:
Depreciation and amortization	9,486	11,750
Share-based compensation	1,894	5,166
Provision for bad debts	1,171	743
Debt origination costs amortization	546	700
Deferred income tax provision, net	572	6,906
Loss on disposal of property and equipment	182	152
Total adjustments	13,851	25,417
Changes in operating assets and liabilities:
Accounts receivable	(19,224)	(30,286)
Prepaid wires	17,259	2,785
Other prepaid expenses and assets	933	(1,428)
Wire transfers and money orders payables	21,047	29,640
Accounts payable and accrued and other liabilities	9,013	16,497
Net cash provided by operating activities	57,147	30,516
Cash flows from investing activities:
Purchases of property and equipment	(3,817)	(3,575)
Acquisition of agent locations	(250)	0
Net cash used in investing activities	(4,067)	(3,575)
Cash flows from financing activities:
Borrowings under term loan	12,000	0
Repayments under revolving loan, net	(30,000)	0
Repayments of term loan	(3,679)	(3,638)
Debt origination costs	(240)	0
Proceeds from reverse recapitalization	0	101,664
Cash consideration to Intermex shareholders	0	(101,659)
Cash paid in warrant exchange	(10,031)	0
Net cash used in financing activities	(31,950)	(3,633)
Effect of exchange rate changes on cash	30	27
Net increase in cash and restricted cash	21,160	23,335
Cash and restricted cash, beginning of the period	73,029	59,795
Cash and restricted cash, end of the period	94,189	83,130
Supplemental disclosure of cash flow information:
Cash paid for interest	5,780	9,410
Cash paid for income taxes	2,550	1,495
Supplemental disclosure of non-cash investing activity:
Agent business acquired in exchange for receivables	85	0
Supplemental disclosure of non-cash financing activity:
Intermex transaction accruals settled by acquisition proceeds	0	9,063
Issuance of common stock for cashless exercise of options	$ 4	$ 0

BUSINESS AND ACCOUNTING POLICIE

BUSINESS AND ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2019
BUSINESS AND ACCOUNTING POLICIES [Abstract]
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 and 33 Company-owned stores. 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 accounting principles generally accepted in the United statements of America (“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 consolidated 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 The FASB issued amended guidance, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments The FASB issued guidance, Leases (Topic 842) The FASB issued amended guidance, Intangibles – Goodwill and other (Topic 350): Simplifying the Test for Goodwill Impairment The FASB issued guidance, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments Reclassifications Certain reclassifications have been made to prior-year amounts to conform with current presentation.

FINTECH MERGER

FINTECH MERGER	9 Months Ended
	Sep. 30, 2019
FINTECH MERGER [Abstract]
FINTECH MERGER	NOTE 2 – FINTECH MERGER 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 (1) (136 ) Deferred tax assets (1) 982 Net equity infusion from FinTech (1) $ 9,989 (1) Cash consideration to Intermex shareholders included 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 (loss). 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 nine months ended September 30, 2018 amounted to $6.3 million and $10.3 million, respectively.

REVENUE RECOGNITION STANDARD

REVENUE RECOGNITION STANDARD	9 Months Ended
	Sep. 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 nine months ended September 30, 2019, the Company recognized in revenues from contracts with customers the following: Three Months ended September 30, 2019 Nine Months ended September 30, 2019 Wire transfer and money order fees $ 72,710 $ 202,202 Discounts and promotions (242 ) (792 ) Wire transfer and money order fees, net 72,468 201,410 Foreign exchange gain 12,272 33,297 Other income 594 1,652 Total revenues $ 85,334 $ 236,359 There are no significant initial costs incurred to obtain contracts with customers. However, the Company has a loyalty program, that for each wire transfer completed, customers earn points. Customers earn 1 point for each wire transfer processed, which can be redeemed for a discounted wire transaction fee or foreign exchange rate. The discounts vary by country, and the earned points expire if the customer has not initiated and completed an eligible wire transfer transaction within the immediately preceding 180 day period. In addition, earned points will expire 30 days after the end of the program. Therefore, due to the loyalty program benefits represent a future performance obligation, 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 (loss). 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 CURR

OTHER PREPAID EXPENSES AND CURRENT ASSETS	9 Months Ended
	Sep. 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): September 30, 2019 December 31, 2018 Prepaid insurance $ 377 $ 300 Prepaid fees 733 719 Notes receivable 507 451 Other prepaid expenses and current assets 650 1,701 $ 2,267 $ 3,171

GOODWILL AND OTHER INTANGIBLE A

GOODWILL AND OTHER INTANGIBLE ASSETS	9 Months Ended
	Sep. 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 - (7,010 ) Balance at September 30, 2019 $ 36,260 $ 29,720

ACCRUED AND OTHER LIABILITIES

ACCRUED AND OTHER LIABILITIES	9 Months Ended
	Sep. 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): September 30, 2019 December 31, 2018 Payables to agents $ 10,118 $ 8,972 Accrued legal settlement (see Note 13) 3,250 - Accrued compensation 1,998 2,344 Accrued bank charges 955 983 Accrued loyalty program reserve - 621 Accrued interest 1,185 1,009 Accrued legal fees 400 920 Accrued taxes 2,330 745 Deferred revenue loyalty program 2,483 - Other 1,342 761 $ 24,061 $ 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 2,104 Revenue recognized during the period (1,597 ) Balance, September 30, 2019 $ 2,483

DEBT

DEBT	9 Months Ended
	Sep. 30, 2019
DEBT [Abstract]
DEBT	NOTE 7 – DEBT Debt consisted of the following (in thousands): September 30, 2019 December 31, 2018 Revolving credit facility $ - $ 30,000 Term loan 98,321 90,000 98,321 120,000 Less: Current portion of long-term debt (1) (6,405 ) (3,936 ) Less: Debt origination costs (2,533 ) (2,738 ) $ 89,383 $ 113,326 (1) Current portion of long-term debt is net of debt origination costs of $0.6 million both at September 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 for the period ended September 30, 2019 for the term loan and revolving credit facility were 7.73% and 8.48%, 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

FAIR VALUE MEASUREMENTS	9 Months Ended
	Sep. 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 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.

RELATED PARTY TRANSACTIONS

RELATED PARTY TRANSACTIONS	9 Months Ended
	Sep. 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 $65.0 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 (loss). There were no amounts payable to or receivable from related parties included in the condensed consolidated balance sheets at September 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-

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION	9 Months Ended
	Sep. 30, 2019
STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION [Abstract]
STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION	NOTE 10 – STOCKHOLDERS’ EQUITY AND SHARE-BASED COMPENSATION On the Closing Date of the Merger, 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 September 30, 2019, the Company was authorized to issue 230 million shares of common stock and had approximately 38.0 million shares of common stock issued and outstanding at $0.0001 par value per common share. On September 11, 2019, the Company entered into an underwriting agreement with certain selling stockholders and several underwriters relating to the underwritten public offering of 5.2 million shares of the Company’s common stock, at a price to the public of $12.75 per share. The selling stockholders also granted the underwriters a 30-day option to purchase up to 782,608 additional shares of Common Stock at the same price as the initial shares sold to the underwriters. The closing of the offering occurred on September 16, 2019. The Company did not receive any of the proceeds from the offering. However, it did incur approximately $0.8 million in certain costs, which are included in other selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive income (loss). 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 5 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 nine months ended September 30, 2019, the Company incurred approximately $0.9 million 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 (loss). There were no expenses related to the Offer for the three months ended September 30, 2019. 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. During both the three and nine months ended September 30, 2019, 0.7 million of stock options vested. The Company recognized compensation expense for stock options of approximately $0.6 million and $1.8 million for the three and nine months ended September 30, 2019, respectively, which is included in salaries and benefits in the condensed consolidated statements of operations and comprehensive income (loss). As of September 30, 2019, there were 3.0 million outstanding stock options and unrecognized compensation expense of $7.9 million is expected to be recognized over a weighted-average period of 2.93 years. A summary of the stock option activity during the nine months ended September 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 375,000 13.77 4.37 Exercised (6,250 ) 9.91 3.43 Forfeited (267,750 ) 10.28 3.56 Outstanding at September 30, 2019 2,982,219 $ 10.45 8.97 $ 3.57 Exercisable at September 30, 2019 658,430 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 $17.5 thousand and $122.5 thousand for the three and nine months ended September 30, 2019, respectively, which is included in salaries and benefits in the condensed consolidated statements of operations and comprehensive income (loss). During the three and nine months ended September 30, 2019, 21.2 thousand restricted stock units were vested for both periods. There were no forfeited restricted stock units during the three and nine months ended September 30, 2019. As of September 30, 2019, there was no 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 (loss), amounted to $4.0 million and $4.7 million for the three and nine months ended September 30, 2018, respectively. Subsequent to the Merger, all incentive units ceased to exist.

INCOME (LOSS) PER SHARE

INCOME (LOSS) PER SHARE	9 Months Ended
	Sep. 30, 2019
INCOME (LOSS) PER SHARE [Abstract]
INCOME (LOSS) PER SHARE	NOTE 11 – INCOME (LOSS) PER SHARE Basic income (loss) per share is calculated by dividing net income (loss) for period by the weighted average number of common shares outstanding for the period. In computing dilutive income (loss) per share, basic income (loss) per share is adjusted for the assumed issuance of all applicable potentially dilutive share-based awards, including common stock options, restricted stock units and warrants. Below are basic and diluted net income (loss) per share for the periods indicated (in thousands, except for share data): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net income (loss) for basic and diluted income (loss) per common share $ 4,038 $ (13,413 ) $ 14,268 $ (12,109 ) Shares: Weighted-average common shares outstanding – basic 37,984,316 30,975,338 37,230,831 21,827,082 Effect of dilutive securities: Restricted stock units 19,222 - 16,555 - Stock Options 283,164 - 100,975 - Warrants - - 17,010 - Weighted-average common shares outstanding – diluted 38,286,702 30,975,338 37,365,371 21,827,082 Net income (loss) per common share – basic and diluted $ 0.11 $ (0.43 ) $ 0.38 $ (0.55 ) The computation of diluted weighted-average common shares outstanding above excludes 447,500 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

INCOME TAXES	9 Months Ended
	Sep. 30, 2019
INCOME TAXES [Abstract]
INCOME TAXES	NOTE 12 - INCOME TAXES A reconciliation between the income tax provision at the US statutory tax rate and the Company’s income tax provision on the condensed consolidated statements of operations and comprehensive income (loss) is below (in thousands, except for tax rates): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income (loss) before income taxes $ 6,291 $ (5,844 ) $ 20,204 $ (3,923 ) US statutory tax rate 21 % 21 % 21 % 21 % Income tax expense (benefit) at statutory rate 1,321 (1,227 ) 4,243 (824 ) State tax expense, net of federal 345 1,355 1,140 1,471 Foreign tax rates different from U.S. statutory rate 26 114 41 147 Non-deductible expenses 218 7,411 246 7,484 Credits 8 (86 ) (1 ) (95 ) Other 335 2 267 3 Total tax provision $ 2,253 $ 7,569 $ 5,936 $ 8,186 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 (loss) 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 nine months ended September 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 September 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

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 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 (loss), amounted to $0.5 million for both the three months ended September 30, 2019 and 2018, and $1.5 million and $1.4 million for the nine months ended September 30, 2019 and 2018, respectively. In April 2018, the Company renegotiated its corporate lease to extend the term through November 2025. At September 30, 2019, future minimum rental payments required under operating leases for the remainder of 2019 and thereafter are as follows (in thousands): 2019 $ 381 2020 1,409 2021 1,202 2022 983 2023 869 Thereafter 1,439 $ 6,283 Legal Proceedings The Company is subject to legal proceedings and claims that have arisen in the ordinary course of its business and have not been finally adjudicated. Although there can be no assurance as to the ultimate disposition of these matters, it is the opinion of the Company’s management, based upon the information available at this time and the stage of the proceedings, that it is not possible to determine the probability of loss or estimate of damages, and therefore, the Company has not established a reserve for any of these proceedings, except for the matter related to a complaint filed under the Telephone Consumer Protection Act of 1991 (the “TCPA claim”) described below. On May 30, 2019, Stuart Sawyer filed a putative class action complaint in the United States District Court for the Southern District of Florida asserting a claim under the Telephone Consumer Protection Act, 47 U.S.C. § 227, et seq., based on allegations that since May 30, 2015, the Company had sent text messages to class members’ wireless telephones without their consent. At mediation held on October 7, 2019, the Company and the plaintiff entered into a term sheet providing the general terms for the settlement of the action, which is subject to memorialization in a definitive agreement, and subsequent Court approval. The terms of the settlement provide for resolution of Mr. Sawyer's TCPA claims and the claims of a class of similarly situated individuals, as defined in the complaint, who received text messages from the Company during the period May 30, 2015 through October 7, 2019, and for the creation of a $3.25 million settlement fund that will be used to pay all class member claims, class counsel's fees and the costs of administering the settlement. The settlement amount of approximately $3.3 million and related legal expenses of $0.1 million are included in accrued and other liabilities in the condensed consolidated balance sheet as of September 30, 2019 and other selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive income (loss) for both the three and nine month periods ended September 30, 2019. 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 examinations 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 September 30, 2019, the Company’s subsidiaries were in compliance with these two requirements.

SUBSEQUENT EVENTS

SUBSEQUENT EVENTS	9 Months Ended
	Sep. 30, 2019
SUBSEQUENT EVENTS [Abstract]
SUBSEQUENT EVENTS	NOTE 14 – SUBSEQUENT EVENTS The Company evaluates subsequent events and transactions that occur after the balance sheet date up to the date the condensed consolidated financial statements are issued. Except for the matter discussed in Note 13, there were no other subsequent events that would have required adjustment or disclosure in the condensed consolidated financial statements.

BUSINESS AND ACCOUNTING POLIC_2

BUSINESS AND ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2019
BUSINESS AND ACCOUNTING POLICIES [Abstract]
Accounting Pronouncements	Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued guidance, Revenue from Contracts with Customers The FASB issued amended guidance, Statement of Cash Flows - Classification of Certain Cash Receipts and Cash Payments The FASB issued guidance, Leases (Topic 842) The FASB issued amended guidance, Intangibles – Goodwill and other (Topic 350): Simplifying the Test for Goodwill Impairment The FASB issued guidance, Financial Instruments - Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments
Reclassifications	Reclassifications Certain reclassifications have been made to prior-year amounts to conform with current presentation.

FINTECH MERGER (Tables)

FINTECH MERGER (Tables)	9 Months Ended
	Sep. 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 (1) (136 ) Deferred tax assets (1) 982 Net equity infusion from FinTech (1) $ 9,989 (1)

REVENUE RECOGNITION STANDARD (T

REVENUE RECOGNITION STANDARD (Tables)	9 Months Ended
	Sep. 30, 2019
REVENUE RECOGNITION STANDARD [Abstract]
Revenues from Contracts with Customers	For the three and nine months ended September 30, 2019, the Company recognized in revenues from contracts with customers the following: Three Months ended September 30, 2019 Nine Months ended September 30, 2019 Wire transfer and money order fees $ 72,710 $ 202,202 Discounts and promotions (242 ) (792 ) Wire transfer and money order fees, net 72,468 201,410 Foreign exchange gain 12,272 33,297 Other income 594 1,652 Total revenues $ 85,334 $ 236,359

OTHER PREPAID EXPENSES AND CU_2

OTHER PREPAID EXPENSES AND CURRENT ASSETS (Tables)	9 Months Ended
	Sep. 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): September 30, 2019 December 31, 2018 Prepaid insurance $ 377 $ 300 Prepaid fees 733 719 Notes receivable 507 451 Other prepaid expenses and current assets 650 1,701 $ 2,267 $ 3,171

GOODWILL AND OTHER INTANGIBLE_2

GOODWILL AND OTHER INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 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 - (7,010 ) Balance at September 30, 2019 $ 36,260 $ 29,720

ACCRUED AND OTHER LIABILITIES (

ACCRUED AND OTHER LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2019
ACCRUED AND OTHER LIABILITIES [Abstract]
Accrued and Other Liabilities	Accrued and other liabilities consisted of the following (in thousands): September 30, 2019 December 31, 2018 Payables to agents $ 10,118 $ 8,972 Accrued legal settlement (see Note 13) 3,250 - Accrued compensation 1,998 2,344 Accrued bank charges 955 983 Accrued loyalty program reserve - 621 Accrued interest 1,185 1,009 Accrued legal fees 400 920 Accrued taxes 2,330 745 Deferred revenue loyalty program 2,483 - Other 1,342 761 $ 24,061 $ 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 2,104 Revenue recognized during the period (1,597 ) Balance, September 30, 2019 $ 2,483

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2019
DEBT [Abstract]
Debt Instruments	Debt consisted of the following (in thousands): September 30, 2019 December 31, 2018 Revolving credit facility $ - $ 30,000 Term loan 98,321 90,000 98,321 120,000 Less: Current portion of long-term debt (1) (6,405 ) (3,936 ) Less: Debt origination costs (2,533 ) (2,738 ) $ 89,383 $ 113,326 (1) Current portion of long-term debt is net of debt origination costs of $0.6 million both at September 30, 2019 and December 31, 2018.

STOCKHOLDERS' EQUITY AND SHAR_2

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2019
STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION [Abstract]
Stock Option Activity	A summary of the stock option activity during the nine months ended September 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 375,000 13.77 4.37 Exercised (6,250 ) 9.91 3.43 Forfeited (267,750 ) 10.28 3.56 Outstanding at September 30, 2019 2,982,219 $ 10.45 8.97 $ 3.57 Exercisable at September 30, 2019 658,430

INCOME (LOSS) PER SHARE (Tables

INCOME (LOSS) PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2019
INCOME (LOSS) PER SHARE [Abstract]
Basic and Diluted Net Income (Loss) per Share	Below are basic and diluted net income (loss) per share for the periods indicated (in thousands, except for share data): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Net income (loss) for basic and diluted income (loss) per common share $ 4,038 $ (13,413 ) $ 14,268 $ (12,109 ) Shares: Weighted-average common shares outstanding – basic 37,984,316 30,975,338 37,230,831 21,827,082 Effect of dilutive securities: Restricted stock units 19,222 - 16,555 - Stock Options 283,164 - 100,975 - Warrants - - 17,010 - Weighted-average common shares outstanding – diluted 38,286,702 30,975,338 37,365,371 21,827,082 Net income (loss) per common share – basic and diluted $ 0.11 $ (0.43 ) $ 0.38 $ (0.55 )

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2019
INCOME TAXES [Abstract]
Reconciliation of Income Tax Expense (Benefit)	A reconciliation between the income tax provision at the US statutory tax rate and the Company’s income tax provision on the condensed consolidated statements of operations and comprehensive income (loss) is below (in thousands, except for tax rates): Three Months Ended September 30, Nine Months Ended September 30, 2019 2018 2019 2018 Income (loss) before income taxes $ 6,291 $ (5,844 ) $ 20,204 $ (3,923 ) US statutory tax rate 21 % 21 % 21 % 21 % Income tax expense (benefit) at statutory rate 1,321 (1,227 ) 4,243 (824 ) State tax expense, net of federal 345 1,355 1,140 1,471 Foreign tax rates different from U.S. statutory rate 26 114 41 147 Non-deductible expenses 218 7,411 246 7,484 Credits 8 (86 ) (1 ) (95 ) Other 335 2 267 3 Total tax provision $ 2,253 $ 7,569 $ 5,936 $ 8,186

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	9 Months Ended
	Sep. 30, 2019
COMMITMENTS AND CONTINGENCIES [Abstract]
Future Minimum Rental Payments	At September 30, 2019, future minimum rental payments required under operating leases for the remainder of 2019 and thereafter are as follows (in thousands): 2019 $ 381 2020 1,409 2021 1,202 2022 983 2023 869 Thereafter 1,439 $ 6,283

BUSINESS AND ACCOUNTING POLIC_3

BUSINESS AND ACCOUNTING POLICIES (Details)	9 Months Ended
	Sep. 30, 2019Store
Noncontrolling Interest Items [Abstract]
Number of company owned stores	33
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)

FINTECH MERGER (Details) - USD ($) $ in Thousands		Jul. 26, 2018	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018	May 31, 2019	Dec. 31, 2018
Reverse Recapitalization [Abstract]
Cash consideration to shareholders					$ 0	$ (101,659)
Net equity infusion				$ 8,964		8,964
Common shares, outstanding (in shares)		36,200,000	38,005,623		38,005,623		38,000,000	36,182,783
Warrants to purchase common stock (in shares)		9,000,000
Transaction cost			$ 0	$ 6,305	$ 0	$ 10,319
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	[1]	(136)
Deferred tax assets	[1]	982
Net equity infusion	[1]	$ 9,989
[1]	During the fourth quarter of 2018, the Company acquired approximately $1 million of deferred tax assets from FinTech, which is reflected in the table above. These deferred tax assets relate to capitalized transaction costs incurred by FinTech prior to the merger, therefore they have been recorded in additional-paid in capital.

REVENUE RECOGNITION STANDARD (D

REVENUE RECOGNITION STANDARD (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019USD ($)Point	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Revenue Recognition [Abstract]
Loyalty program reserve	$ 0		$ 0		$ 621
Revenues from Contracts with Customers [Abstract]
Wire transfer and money order fees	72,710		202,202
Discounts and promotions	(242)		(792)
Revenues	$ 85,334	$ 72,508	236,359	$ 198,844
Point earned for each wire transfer processed | Point	1
Point expiration period for non completion of wire transfer transaction	180 days
Point expiration period after end of program	30 days
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)
Wire Transfer and Money Order Fees, Net [Member]
Revenues from Contracts with Customers [Abstract]
Revenues	$ 72,468	61,332	201,410	168,554
Foreign Exchange Gain [Member]
Revenues from Contracts with Customers [Abstract]
Revenues	12,272	10,697	33,297	29,013
Other Income [Member]
Revenues from Contracts with Customers [Abstract]
Revenues	$ 594	$ 479	$ 1,652	$ 1,277

OTHER PREPAID EXPENSES AND CU_3

OTHER PREPAID EXPENSES AND CURRENT ASSETS (Details) - USD ($) $ in Thousands	Sep. 30, 2019	Dec. 31, 2018
OTHER PREPAID EXPENSES AND CURRENT ASSETS [Abstract]
Prepaid insurance	$ 377	$ 300
Prepaid fees	733	719
Notes receivable	507	451
Other prepaid expenses and current assets	650	1,701
Prepaid expenses and other assets	$ 2,267	$ 3,171

GOODWILL AND OTHER INTANGIBLE_3

GOODWILL AND OTHER INTANGIBLE ASSETS (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
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	(7,010)
Other intangible assets, ending balance	$ 29,720
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_2

ACCRUED AND OTHER LIABILITIES (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2019	Sep. 30, 2019	Dec. 31, 2018
Accrued Liabilities and Other Liabilities [Abstract]
Payables to agents		$ 10,118	$ 8,972
Accrued legal settlement (see Note 13)		3,250	0
Accrued compensation		1,998	2,344
Accrued bank charges		955	983
Accrued loyalty program reserve		0	621
Accrued interest		1,185	1,009
Accrued legal fees		400	920
Accrued taxes		2,330	745
Deferred revenue loyalty program	$ 2,483	2,483	0
Other		1,342	761
Accrued and other liabilities		$ 24,061	$ 16,355
Deferred Revenue Loyalty Program Liability [Abstract]
Beginning balance	0
Revenue deferred during the period	2,104
Revenue recognized during the period	(1,597)
Ending balance	2,483
ASU 606 [Member]
Deferred Revenue Loyalty Program Liability [Abstract]
Adoption of ASC 606	$ 1,976

DEBT (Details)

DEBT (Details) $ in Thousands		Apr. 29, 2019USD ($)	Nov. 07, 2018USD ($)	Sep. 30, 2019USD ($)	Sep. 30, 2018USD ($)	Dec. 31, 2018USD ($)
Debt Instruments [Abstract]
Long-term debt, gross				$ 98,321		$ 120,000
Less: Current portion of long term debt	[1]			(6,405)		(3,936)
Less: Debt origination costs				(2,533)		(2,738)
Long-term debt, noncurrent				89,383		113,326
Debt origination costs, current				600		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				$ 98,321		90,000
Revolving Credit Facility [Member]
Debt Instruments [Abstract]
Long-term debt, gross				$ 0		$ 30,000
Credit Agreement [Member]
Debt Instruments [Abstract]
Maturity date				Nov. 7, 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				8.48%
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				7.73%
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 both at September 30, 2019 and December 31, 2018.

RELATED PARTY TRANSACTIONS (Det

RELATED PARTY TRANSACTIONS (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2019USD ($)
RELATED PARTY TRANSACTIONS [Abstract]
Monthly management fees plus reimbursement expense	$ 65

STOCKHOLDERS' EQUITY AND SHAR_3

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION (Details) - USD ($) $ / shares in Units, $ in Thousands	Sep. 11, 2019	May 31, 2019	Sep. 30, 2019	Sep. 30, 2019	Sep. 30, 2018	Mar. 28, 2019	Dec. 31, 2018	Jul. 26, 2018
Share-based Compensation Arrangement [Abstract]
Common shares, outstanding (in shares)		38,000,000	38,005,623	38,005,623			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)			38,005,623	38,005,623			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
Underwriting Agreement [Member]
Share-based Compensation Arrangement [Abstract]
Public offering shares common stock (in shares)	5,200,000
Period of option for purchasing additional shares	30 days
Offering cost	$ 800
Common stock price (in dollars per share)	$ 12.75
Underwriting Agreement [Member] | Maximum [Member]
Share-based Compensation Arrangement [Abstract]
Additional shares of common stock issuable at the option of underwriters (in shares)	782,608
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			$ 0	$ 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
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 SHAR_4

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION, 2018 Omnibus Equity Compensation Plan (Details) - 2018 Equity Compensation Plan [Member]	Jul. 26, 2018shares	Sep. 30, 2019USD ($)$ / sharesshares	Sep. 30, 2019USD ($)Installments$ / sharesshares	Dec. 31, 2018$ / sharesshares
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 | $		$ 600,000	$ 1,800,000
Options vested (in shares)		700,000	700,000
Unrecognized compensation expense | $		$ 7,900,000	$ 7,900,000
Weighted-average non-vested period			2 years 11 months 5 days
Number of Options [Roll Forward]
Outstanding, beginning balance (in shares)			2,881,219
Granted (in shares)	2,800,000		375,000
Exercised (in shares)			(6,250)
Forfeited (in shares)			(267,750)
Outstanding, ending balance (in shares)		2,982,219	2,982,219	2,881,219
Exercisable (in shares)		658,430	658,430
Weighted Average Exercise Price [Roll Forward]
Outstanding, beginning balance (in dollars per share) | $ / shares			$ 10
Granted (in dollars per share) | $ / shares			13.77
Exercised (in dollars per share) | $ / shares			9.91
Forfeited (in dollars per share) | $ / shares			10.28
Outstanding, beginning ending (in dollars per share) | $ / shares		$ 10.45	$ 10.45	$ 10
Weighted Average Remaining Contractual Term [Abstract]
Weighted average remaining contractual term			8 years 11 months 19 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			4.37
Exercised (in dollars per share) | $ / shares			3.43
Forfeited (in dollars per share) | $ / shares			3.56
Outstanding (in dollars per share) | $ / shares		$ 3.57	$ 3.57	$ 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 | $		$ 17,500	$ 122,500
Unrecognized compensation expense | $		$ 0	$ 0
Restricted stock units, forfeited (in shares)		0	0
Restricted stock units, vested (in shares)		21,200	21,200

STOCKHOLDERS' EQUITY AND SHAR_5

STOCKHOLDERS' EQUITY AND SHARE-BASED COMPENSATION, Incentive Units (Details) - USD ($) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2018	Sep. 30, 2018
Incentive Units [Member]
Share-based Compensation Arrangement [Abstract]
Share-based compensation expense	$ 4	$ 4.7

INCOME (LOSS) PER SHARE (Detail

INCOME (LOSS) PER SHARE (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Net Income (Loss) Per Share, Basic and Diluted [Abstract]
Net income (loss) for basic and diluted income (loss) per common share	$ 4,038	$ (13,413)	$ 14,268	$ (12,109)
Shares [Abstract]
Weighted-average common shares outstanding - basic (in shares)	37,984,316	30,975,338	37,230,831	21,827,082
Weighted-average common shares outstanding - diluted (in shares)	38,286,702	30,975,338	37,365,371	21,827,082
Net income (loss) per common share - basic and diluted (in dollars per share)	$ 0.11	$ (0.43)	$ 0.38	$ (0.55)
Securities excluded from computation of diluted loss per share (in shares)			447,500
Restricted Stock Units [Member]
Shares [Abstract]
Effect of dilutive securities (in shares)	19,222	0	16,555	0
Stock Options [Member]
Shares [Abstract]
Effect of dilutive securities (in shares)	283,164	0	100,975	0
Warrants [Member]
Shares [Abstract]
Effect of dilutive securities (in shares)	0	0	17,010	0

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2019	Sep. 30, 2018	Sep. 30, 2019	Sep. 30, 2018
Reconciliation of Income Tax Expense (Benefit) [Abstract]
Income (loss) before income taxes	$ 6,291	$ (5,844)	$ 20,204	$ (3,923)
US statutory tax rate	21.00%	21.00%	21.00%	21.00%
Income tax expense (benefit) at statutory rate	$ 1,321	$ (1,227)	$ 4,243	$ (824)
State tax expense, net of federal	345	1,355	1,140	1,471
Foreign tax rates different from U.S. statutory rate	26	114	41	147
Non-deductible expenses	218	7,411	246	7,484
Credits	8	(86)	(1)	(95)
Other	335	2	267	3
Total tax provision	2,253	$ 7,569	5,936	$ 8,186
Accrued interest and tax penalties	0		0
Uncertain tax positions	$ 0		$ 0

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES (Details) $ in Thousands	Oct. 07, 2019USD ($)	Sep. 30, 2019USD ($)StateTerritoryCountry	Sep. 30, 2018USD ($)	Sep. 30, 2019USD ($)StateTerritoryCountry	Sep. 30, 2018USD ($)
Leases [Abstract]
Rent expense		$ 500	$ 500	$ 1,500	$ 1,400
Future Minimum Rental Payments [Abstract]
2019		381		381
2020		1,409		1,409
2021		1,202		1,202
2022		983		983
2023		869		869
Thereafter		1,439		1,439
Total		6,283		6,283
Legal Proceedings [Abstract]
Settlement amount		3,300		3,300
Legal expenses		$ 100		$ 100
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
Subsequent Event [Member]
Legal Proceedings [Abstract]
Settlement fund	$ 3,250