International Money Express (IMXI) 10-Q 6 Aug 21 2021 Q2 Quarterly report Financial data

Document and Entity Information

Document and Entity Information - shares	6 Months Ended
	Jun. 30, 2021	Jul. 30, 2021
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Jun. 30, 2021
Document Transition Report	false
Entity File Number	001-37986
Entity Registrant Name	INTERNATIONAL MONEY EXPRESS, INC.
Entity Incorporation, State or Country Code	DE
Entity Tax Identification Number	47-4219082
Entity Address, Address Line One	9480 South Dixie Highway
Entity Address, City or Town	Miami
Entity Address, State or Province	FL
Entity Address, Postal Zip Code	33156
City Area Code	305
Local Phone Number	671-8000
Title of 12(b) Security	Common stock ($0.0001 par value)
Trading Symbol	IMXI
Security Exchange Name	NASDAQ
Entity Current Reporting Status	Yes
Entity Interactive Data Current	Yes
Entity Filer Category	Accelerated Filer
Entity Small Business	false
Entity Emerging Growth Company	true
Entity Ex Transition Period	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		38,593,052
Entity Central Index Key	0001683695
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2021
Document Fiscal Period Focus	Q2

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Current assets:
Cash	$ 139,716	$ 74,907
Accounts receivable, net of allowance of $1,486 and $1,503, respectively	70,540	55,017
Prepaid wires, net	14,457	53,281
Prepaid expenses and other current assets	4,985	3,521
Total current assets	229,698	186,726
Property and equipment, net	13,937	13,021
Goodwill	36,260	36,260
Intangible assets, net	17,850	20,430
Other assets	4,678	3,036
Total assets	302,423	259,473
Current liabilities:
Current portion of long-term debt, net	3,882	7,044
Accounts payable	14,009	12,771
Wire transfers and money orders payable, net	54,982	41,746
Accrued and other liabilities	25,822	22,380
Total current liabilities	98,695	83,941
Long-term liabilities:
Debt, net	81,152	80,579
Deferred tax liability, net	1,400	692
Total long-term liabilities	82,552	81,271
Commitments and contingencies
Stockholders’ equity:
Common stock $0.0001 par value; 230,000,000 shares authorized, 38,585,724 and 38,217,125 shares issued and outstanding as of June 30, 2021 and December 31, 2020, respectively.	4	4
Additional paid-in capital	64,009	59,310
Retained earnings	57,164	34,960
Accumulated other comprehensive loss	(1)	(13)
Total stockholders’ equity	121,176	94,261
Total liabilities and stockholders’ equity	$ 302,423	$ 259,473

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Statement of Financial Position [Abstract]
Accounts receivable allowance	$ 1,486	$ 1,503
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)	38,585,724	38,217,125
Common shares, outstanding (in shares)	38,585,724	38,217,125

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Revenues:
Revenues	$ 116,747	$ 85,062	$ 211,323	$ 162,313
Operating expenses:
Service charges from agents and banks	77,864	56,271	141,237	108,498
Salaries and benefits	10,175	7,069	20,050	14,428
Other selling, general and administrative expenses	7,079	5,155	12,582	10,492
Depreciation and amortization	2,345	2,691	4,679	5,381
Total operating expenses	97,463	71,186	178,548	138,799
Operating income	19,284	13,876	32,775	23,514
Interest expense	1,254	1,633	2,594	3,503
Income before income taxes	18,030	12,243	30,181	20,011
Income tax provision	4,803	3,265	7,977	5,345
Net income	13,227	8,978	22,204	14,666
Other comprehensive income (loss)	16	3	12	(141)
Comprehensive income	$ 13,243	$ 8,981	$ 22,216	$ 14,525
Earnings per common share:
Basic (in dollars per share)	$ 0.34	$ 0.24	$ 0.58	$ 0.39
Diluted (in dollars per share)	$ 0.34	$ 0.24	$ 0.57	$ 0.39
Weighted-average common shares outstanding:
Basic (in shares)	38,433,748	38,035,279	38,336,977	38,035,146
Diluted (in shares)	39,027,414	38,047,792	38,937,699	38,043,233
Wire transfer and money order fees, net
Revenues:
Revenues	$ 99,306	$ 72,793	$ 180,218	$ 139,888
Foreign exchange gain, net
Revenues:
Revenues	16,655	11,660	29,703	21,214
Other income
Revenues:
Revenues	$ 786	$ 609	$ 1,402	$ 1,211

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Additional Paid-in Capital	Retained Earnings (Accumulated Deficit)	Accumulated Other Comprehensive Loss
Beginning balance at Dec. 31, 2019	$ 55,967	$ 4	$ 54,694	$ 1,176	$ 93
Beginning balance (in shares) at Dec. 31, 2019		38,034,389
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14,666			14,666
Issuance of common stock:
Exercise of stock options	(4)		(4)
Exercise of stock options (in shares)		890
Share-based compensation	1,408		1,408
Adjustment from foreign currency translation, net	(141)				(141)
Ending balance at Jun. 30, 2020	71,896	$ 4	56,098	15,842	(48)
Ending balance (in shares) at Jun. 30, 2020		38,035,279
Beginning balance at Mar. 31, 2020	62,229	$ 4	55,412	6,864	(51)
Beginning balance (in shares) at Mar. 31, 2020		38,035,279
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	8,978			8,978
Issuance of common stock:
Share-based compensation	686		686
Adjustment from foreign currency translation, net	3				3
Ending balance at Jun. 30, 2020	71,896	$ 4	56,098	15,842	(48)
Ending balance (in shares) at Jun. 30, 2020		38,035,279
Beginning balance at Dec. 31, 2020	94,261	$ 4	59,310	34,960	(13)
Beginning balance (in shares) at Dec. 31, 2020		38,217,125
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	22,204			22,204
Issuance of common stock:
Exercise of stock options	2,429		2,429
Exercise of stock options (in shares)		244,907
Restricted stock units (in shares)		33,381
Restricted stock awards (in shares)		88,215
Fully vested shares (in shares)		2,096
Share-based compensation	2,270		2,270
Adjustment from foreign currency translation, net	12				12
Ending balance at Jun. 30, 2021	121,176	$ 4	64,009	57,164	(1)
Ending balance (in shares) at Jun. 30, 2021		38,585,724
Beginning balance at Mar. 31, 2021	105,564	$ 4	61,640	43,937	(17)
Beginning balance (in shares) at Mar. 31, 2021		38,362,788
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	13,227			13,227
Issuance of common stock:
Exercise of stock options	995		995
Exercise of stock options (in shares)		100,275
Restricted stock units (in shares)		33,381
Restricted stock awards (in shares)		88,215
Fully vested shares (in shares)		1,065
Share-based compensation	1,374		1,374
Adjustment from foreign currency translation, net	16				16
Ending balance at Jun. 30, 2021	$ 121,176	$ 4	$ 64,009	$ 57,164	$ (1)
Ending balance (in shares) at Jun. 30, 2021		38,585,724

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Cash flows from operating activities:
Net income	$ 22,204	$ 14,666
Adjustments to reconcile net income to net cash provided by operating activities:
Depreciation and amortization	4,679	5,381
Share-based compensation	2,270	1,408
Provision for credit losses	667	1,101
Debt origination costs amortization	385	376
Deferred income tax provision, net	708	658
Loss on disposal of property and equipment	169	131
Total adjustments	8,878	9,055
Changes in operating assets and liabilities:
Accounts receivable, net	(16,174)	(21,485)
Prepaid wires, net	38,825	11,635
Prepaid expenses and other assets	(1,305)	1,008
Wire transfers and money orders payable, net	13,228	8,648
Accounts payable and accrued and other liabilities	4,634	(2,054)
Net cash provided by operating activities	70,290	21,473
Cash flows from investing activities:
Purchases of property and equipment	(3,181)	(1,591)
Net cash used in investing activities	(3,181)	(1,591)
Cash flows from financing activities:
Repayments of term loan facility	(42,041)	(3,830)
Borrowings under term loan facility	40,158	0
Debt origination costs	(2,894)	0
Proceeds from exercise of stock options	2,429	0
Net cash used in financing activities	(2,348)	(3,830)
Effect of exchange rate changes on cash	48	(184)
Net increase in cash	64,809	15,868
Cash, beginning of period	74,907	86,117
Cash, end of period	139,716	101,985
Supplemental disclosure of cash flow information:
Cash paid for interest	2,169	3,133
Cash paid for income taxes	8,825	2,403
Supplemental disclosure of non-cash financing activity:
Issuance of common stock for cashless exercise of stock options	$ 0	$ 4

BUSINESS AND ACCOUNTING POLICIE

BUSINESS AND ACCOUNTING POLICIES	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
BUSINESS AND ACCOUNTING POLICIES	BUSINESS AND ACCOUNTING POLICIES International Money Express, Inc. (the “Company” or “us” or “we”) operates as a money transmitter between the United States of America (“United States” or “U.S.”) and Canada to Mexico, Guatemala and other countries in Latin America, Africa and Asia through a network of authorized agents located in various unaffiliated retail establishments and 34 Company-operated stores throughout the United States and Canada. During March 2020, a global pandemic was declared by the World Health Organization related to the rapidly growing outbreak of a novel strain of coronavirus (“COVID-19”). Although the worst effects of the pandemic appear to have subsided in the United States, the pandemic has had and continues to have a significant effect on economic conditions in the United States, and continues to cause significant uncertainties in the U.S. and global economies, particularly as a result of a new Delta variant of COVID-19, which appears to be causing an increase in COVID-19 cases. Public health officials and medical professionals have warned that a resurgence of COVID-19 cases may continue to spike, particularly if vaccination rates do not quickly increase or if additional, potent disease variants emerge. It is unclear how long the resurgence will last, how severe it will be, and what safety measures governments will impose in response to it. The extent to which the COVID-19 pandemic affects our business, operations and financial results depends, and will continue to depend, on numerous evolving factors that we may not be able to accurately predict. Although the Company’s operations continued effectively despite social distancing and other measures taken in response to the pandemic, the ultimate impact of the COVID-19 pandemic on our financial condition, results of operations and cash flows is dependent on future developments, including the duration or resurgence of the pandemic and the related extent of its severity, as well as its impact on the economic conditions, particularly the level of unemployment of our customers, inflation, interest rate levels and foreign exchange volatility, all of which remain uncertain and cannot be predicted at this time. If governmental decisions to ease pandemic related restrictions are ineffective, premature or counterproductive, or if an escalation in the global response to contain the COVID-19 pandemic is required or is unsuccessful, the Company could experience a material adverse effect on its financial condition, results of operations and cash flows. The condensed consolidated financial statements of the Company include Intermex Holdings, Inc., its wholly-owned indirect subsidiary, Intermex Wire Transfer, LLC (“LLC”), Intermex Wire Transfers de Guatemala, S.A. (“Intermex Guatemala”) - 100% 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. The condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“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 condensed consolidated financial statements have been included. The results reported in these interim condensed consolidated financial statements are not necessarily indicative of the results that may be reported for the entire year. Certain information and footnote disclosures required by GAAP have been condensed or omitted. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020. Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued amended guidance, Intangibles – Goodwill and other (Topic 350): Simplifying the Test for Goodwill Impairment . The amended standard simplifies how an entity tests goodwill by eliminating Step 2 of the goodwill impairment test related to measuring an impairment charge. Instead, impairment will be recorded for the amount that the carrying amount of a reporting unit exceeds its fair value. This guidance was adopted by the Company on January 1, 2021. The adoption of this guidance did not have a material impact on the condensed consolidated financial statements. The FASB issued amended guidance, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . The amended standard requires implementation costs incurred by customers in cloud computing arrangements to be deferred and recognized over the term of the arrangement if those costs would be capitalized by the customers in a software licensing arrangement. This guidance was adopted by the Company on January 1, 2021. The adoption of this guidance did not have a material impact on the condensed consolidated financial statements. The FASB issued guidance, Simplifying the Accounting for Income Taxes (Topic 740) , which removes certain exceptions to the general principles in Topic 740 and improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This guidance was adopted by the Company on January 1, 2021. The adoption of this guidance did not have a material impact on the condensed consolidated financial statements. The FASB issued guidance, Leases (Topic 842) , to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under previous GAAP. The guidance requires that a lessee recognizes a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term on the balance sheet. This guidance is required to be adopted by the Company on January 1, 2022 using the modified retrospective approach. The Company is currently evaluating the impact this guidance will have on the condensed consolidated financial statements. The FASB issued guidance, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , regarding the measurement of credit losses for certain financial instruments. The new standard replaces the incurred loss model with a current expected credit loss (“CECL”) model. The CECL model is based on historical experience, adjusted for current conditions and reasonable and supportable forecasts. The Company is required to adopt the new guidance on January 1, 2023. The Company is currently evaluating the impact this guidance will have on the condensed consolidated financial statements. The FASB issued guidance, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedient and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. In response to the concerns about structural risks of interbank offered rates (“IBORs”) and, particularly, the risk of cessation of the LIBOR, regulators in several jurisdictions around the world have undertaken reference rate reform initiatives to identify alternative reference rates that are more observable or transaction based and less susceptible to manipulation. This accounting standards update provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. This new guidance may be adopted by the Company no later than December 1, 2022, with early adoption permitted. The potential adoption of this guidance is not expected to have a material impact on the condensed consolidated financial statements.

REVENUES

REVENUES	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES The Company recognized revenues from contracts with customers for the three and six months ended June 30, 2021 and 2020, as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Wire transfer and money order fees $ 99,671 $ 72,965 $ 180,887 $ 140,281 Discounts and promotions (365) (172) (669) (393) Wire transfer and money order fees, net 99,306 72,793 180,218 139,888 Foreign exchange gain, net 16,655 11,660 29,703 21,214 Other income 786 609 1,402 1,211 Total revenues $ 116,747 $ 85,062 $ 211,323 $ 162,313 There are no significant initial costs incurred to obtain contracts with customers, although the Company has a loyalty program under which customers earn one point for each wire transfer completed. Points can be redeemed for a discounted wire transaction fee or a foreign exchange rate that is more favorable to the customer. The customer benefits 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. Because the loyalty program benefits represent a future performance obligation, a portion of the initial consideration is recorded as deferred revenue loyalty program (see Note 7) and a corresponding loyalty program expense is recorded as contra revenue. Revenue from this performance obligation is recognized upon customers redeeming points or upon expiration of any points outstanding. Except for the loyalty program discussed above, our revenues include only one performance obligation, which is to collect the customer’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 from a fee per transaction. For substantially all of the Company’s revenues, the Company acts as principal in the transactions and reports revenue on a gross basis, because the Company controls the service at all times prior to transfer to the customer, is primarily responsible for fulfilling the customer contracts, has the risk of loss and has the ability to establish transaction prices.

ACCOUNTS RECEIVABLE AND NOTES R

ACCOUNTS RECEIVABLE AND NOTES RECEIVABLE, NET OF ALLOWANCE	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
ACCOUNTS RECEIVABLE AND NOTES RECEIVABLE, NET OF ALLOWANCE	ACCOUNTS RECEIVABLE AND NOTES RECEIVABLE, NET OF ALLOWANCE Accounts Receivable Accounts receivable represents outstanding balances from sending agents for pending wire transfers or money orders from our customers. The outstanding balance, net of allowance for credit losses, consists of the following (in thousands): June 30, 2021 December 31, 2020 Accounts receivable $ 72,026 $ 56,520 Allowance for credit losses (1,486) (1,503) Accounts receivable, net $ 70,540 $ 55,017 Notes Receivable The Company had notes receivable, net of allowance for credit losses, from sending agents as follows (in thousands): June 30, 2021 December 31, 2020 Notes receivable, current $ 630 $ 710 Allowance for credit losses (215) (244) Net current $ 415 $ 466 Notes receivable, long-term $ 921 $ 816 Allowance for credit losses (327) (295) Net long-term $ 594 $ 521 The net current portion of notes receivable is included in prepaid expenses and other current assets (see Note 4), and the net long-term portion is included in other assets in the condensed consolidated balance sheets. The notes have interest rates ranging from 0% to 16% per annum. At June 30, 2021 and December 31, 2020, there were $1.6 million and $1.5 million, respectively, of notes collateralized by personal guarantees from the sending agents and assets from their businesses in case of a default by the agent. The maturities of notes receivable at June 30, 2021 are as follows (in thousands): Unpaid Principal Under 1 year $ 630 Between 1 and 2 years 692 Between 2 and 3 years 229 Total $ 1,551 Allowance for Credit Losses The changes in the allowance for credit losses related to accounts receivable and notes receivable are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Beginning balance $ 2,058 $ 1,477 $ 2,042 $ 1,236 Provision 504 364 667 1,101 Charge-offs (623) (589) (888) (1,186) Recoveries 89 98 207 199 Ending Balance $ 2,028 $ 1,350 $ 2,028 $ 1,350 The allowance for credit losses allocated by financial instrument category is as follows (in thousands): June 30, 2021 December 31, 2020 Accounts receivable $ 1,486 $ 1,503 Notes receivable 542 539 Allowance for credit losses $ 2,028 $ 2,042

PREPAID EXPENSES AND OTHER CURR

PREPAID EXPENSES AND OTHER CURRENT ASSETS	6 Months Ended
	Jun. 30, 2021
Prepaid Expense and Other Assets [Abstract]
PREPAID EXPENSES AND OTHER CURRENT ASSETS	PREPAID EXPENSES AND OTHER CURRENT ASSETS Prepaid expenses and other current assets consisted of the following (in thousands): June 30, 2021 December 31, 2020 Prepaid insurance $ 297 $ 465 Prepaid fees and services 1,230 1,452 Notes receivable, net of allowance 415 466 Assets pending settlement 229 218 Prepaid income taxes 1,861 103 Prepaid expenses and current assets - other 953 817 $ 4,985 $ 3,521

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETS Intangible assets on the condensed consolidated balance sheets of the Company consist of goodwill, 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. The agent relationships intangible represents the network of independent sending agents; trade name refers to the Intermex name, branded on all agent locations and well recognized in the market; and developed technology includes the state-of-the-art system that the Company has continued to develop and improve over the past 20 years. Other intangible assets primarily relate to the acquisition of Company-operated stores, which are amortized on a straight line basis over 10 years. The determination of our intangible fair values includes several assumptions that are subject to various risks and uncertainties. Management believes it has made reasonable estimates and judgments concerning these risks and uncertainties, and no impairment charges were determined necessary to be recognized during the three and six months ended June 30, 2021. The following table presents the changes in goodwill and intangible assets (in thousands): Goodwill Intangibles Balance at December 31, 2020 $ 36,260 $ 20,430 Amortization expense — (2,580) Balance at June 30, 2021 $ 36,260 $ 17,850 Amortization expense related to intangible assets for the next five years and thereafter is as follows (in thousands): 2021 $ 2,581 2022 3,997 2023 2,989 2024 2,270 2025 1,717 Thereafter 4,296 $ 17,850

WIRE TRANSFERS AND MONEY ORDERS

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET	WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET Wire transfers and money orders payable, net consisted of the following (in thousands): June 30, 2021 December 31, 2020 Wire transfers payable, net $ 22,436 $ 11,806 Customer voided wires payable 15,180 13,374 Money orders payable 17,366 16,566 $ 54,982 $ 41,746 Customer voided wires payable consist primarily of wire transfers that were not completed because the recipient did not collect the funds within 30 days and the sender has not claimed the funds and, therefore, are considered unclaimed property. Unclaimed property laws of each state in the United States in which we operate, the District of Columbia, and Puerto Rico require us to track certain information for all of our money remittances and payment instruments and, if the funds underlying such remittances and instruments are unclaimed at the end of an applicable statutory abandonment period, require us to remit the proceeds of the unclaimed property to the appropriate jurisdiction. Applicable statutory abandonment periods range from three to seven years.

ACCRUED AND OTHER LIABILITIES

ACCRUED AND OTHER LIABILITIES	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
ACCRUED AND OTHER LIABILITIES	ACCRUED AND OTHER LIABILITIES Accrued and other liabilities consisted of the following (in thousands): June 30, 2021 December 31, 2020 Commissions payable to sending agents $ 14,566 $ 12,500 Accrued salaries and benefits 3,248 2,957 Accrued bank charges 1,602 1,170 Accrued legal fees 60 75 Accrued other professional fees 1,011 826 Accrued taxes 1,486 1,276 Deferred revenue loyalty program 2,944 2,750 Other 905 826 $ 25,822 $ 22,380 The following table shows the changes in the deferred revenue loyalty program liability (in thousands): Balance, December 31, 2020 $ 2,750 Revenue deferred during the period 1,036 Revenue recognized during the period (842) Balance, June 30, 2021 $ 2,944

DEBT

DEBT	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following (in thousands): June 30, 2021 December 31, 2020 Term loan facility $ 87,500 $ 89,383 87,500 89,383 Less: Current portion of long-term debt (1) (3,882) (7,044) Less: Debt origination costs (2,466) (1,760) $ 81,152 $ 80,579 (1) Current portion of long-term debt is net of debt origination costs of approximately $0.5 million and $0.6 million at June 30, 2021 and December 31, 2020, respectively. The Company and certain of its domestic subsidiaries as borrowers and the other guarantors from time to time party thereto (collectively, the “Loan Parties”) entered into a financing agreement with a group of banking institutions, dated November 7, 2018 and further amended on December 7, 2018 (the “Original Credit Agreement”). The Original Credit Agreement provided for a $35 million revolving credit facility, a $90 million term loan facility and an up to $30 million incremental facility of which $12 million was utilized in 2019 for the term loan facility and $10 million was utilized in May of 2021 for the revolving credit facility (see below). The Original Credit Agreement also provided for the issuance of letters of credit, which would reduce availability under the revolving credit facility. The maturity date of the Original Credit Agreement was November 7, 2023. Effective as of May 12, 2021, the Company amended the Original Credit Agreement by entering into Increase Joinder No. 2 (the “Joinder No. 2”) to the Original Credit Agreement, which was accounted for as a debt modification, under which the revolving line of credit commitment under the Original Credit Agreement was increased by $10 million to an aggregate of $45 million. The Joinder No. 2 did not have any impact to any of the terms of the term loan facility under the Original Credit Agreement. The Company incurred debt origination costs of $76.8 thousand which were capitalized and will be amortized over the remaining life of the revolving line of credit facility, as described below, using the straight-line method, as it is not significantly different than the effective interest method. On June 24, 2021, the Loan Parties entered into an Amended and Restated Credit Agreement (the “A&R Credit Agreement”) with a group of banking institutions. The A&R Credit Agreement amended and restated in its entirety the Original Credit Agreement. The A&R Credit Agreement provides for a $150 million revolving credit facility, an $87.5 million term loan facility and an uncommitted incremental facility, which may be utilized for additional revolving or term loans, of up to $70 million. The A&R Credit Agreement also provides for the issuance of letters of credit, which would reduce availability under the revolving credit facility. The proceeds of the term loan were used to refinance the $87.5 million principal amount of the existing term loan facility under the Original Credit Agreement, and the revolving credit facility is available for working capital, general corporate purposes and to pay fees and expenses in connection with this transaction. The maturity date of the A&R Credit Agreement is June 24, 2026. This refinancing was accounted for as a debt modification. The balance of the unamortized debt origination costs of $1.8 million under the Original Credit Agreement, the origination costs paid to the Loan Parties of $1.0 million in connection with the term loan facility of the A&R Credit Agreement and debt origination costs paid to the Loan Parties and third-party costs of $1.8 million incurred in connection with the revolving credit facility of the A&R Credit Agreement will be associated with the new arrangement, and therefore, they will be amortized over the remaining life of the A&R Credit Agreement using the straight-line method, as it is not significantly different than the effective interest method. Debt origination costs paid to third parties related to a portion of the term loan facility in connection with the A&R Credit Agreement were expensed as incurred during the three months ended June 30, 2021. At the election of the Company, interest on the term loan facility and revolving credit facility under the A&R Credit Agreement is determined by reference to either LIBOR (subject to replacement) or a “base rate”, in each case plus an applicable margin ranging between 2.50% and 3.00% per annum for LIBOR loans and between 1.50% and 2.00% per annum for base rate loans depending on the level of our consolidated leverage ratio, as calculated pursuant to the terms of the A&R Credit Agreement. 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 six months ended June 30, 2021 for the term loan facility and revolving credit facility, which substantially related to the Original Credit Agreement, were 5.19% and 0.98%, respectively. Interest is payable (x)(i) generally on the last day of each interest period selected for LIBOR loans, but in any event, not less frequently than every three months, and (ii) on the last business day of each quarter for base rate loans and (y) at final maturity. The principal amount of the term loan facility under the A&R Credit Agreement must be repaid in consecutive quarterly installments of 5.0% in years 1 and 2, 7.5% in year 3, and 10.0% in years 4 and 5, in each case on the last day of each quarter, commencing in September 2021 with a final balloon payment at maturity. The term loans under the A&R Credit Agreement may be prepaid at any time without premium or penalty. Revolving loans may be borrowed, repaid and reborrowed from time to time in accordance with the terms and conditions of the A&R Credit Agreement. The Company is also required to repay the loans upon receipt of net proceeds from certain casualty events, upon the disposition of certain property and upon incurrence of indebtedness not permitted by the A&R Credit Agreement. In addition, the Company is required to make mandatory prepayments annually from excess cash flow if the Company’s consolidated leverage ratio (as calculated under the A&R Credit Agreement) is greater than or equal to 3.0, and the remainder of any such excess cash flow is contributed to the available amount which may be used for a variety of purposes, including investments and distributions. The A&R Credit Agreement contains financial covenants that 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 A&R Credit Agreement also 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, change the nature of their businesses, enter into certain transactions with affiliates or amend the terms of material indebtedness. In addition, the A&R Credit Agreement generally restricts the payment of dividends or cash distributions by the Company with certain exceptions, including the following: i) to repurchase the Company’s common stock from current or former employees in an aggregate amount of up to $10.0 million per calendar year, and ii) other restricted payments in an aggregate amount not to exceed $40.0 million plus the Available Amount (as defined in the A&R Credit Agreement). The obligations under the A&R Credit Agreement are guaranteed by the Company and certain domestic subsidiaries of the Company and secured by liens on substantially all of the assets of the Loan Parties, subject to certain exclusions and limitations.

FAIR VALUE MEASUREMENTS

FAIR VALUE MEASUREMENTS	6 Months Ended
	Jun. 30, 2021
Fair Value Disclosures [Abstract]
FAIR VALUE MEASUREMENTS	FAIR VALUE MEASUREMENTS The Company determines fair value in accordance with the provisions of FASB guidance, Fair Value Measurements and Disclosures , which defines fair value as an exit price, representing the amount that would be received from the sale of an asset or paid to transfer a liability in an orderly transaction between market participants at the measurement date. As such, fair value is a market-based measurement that should be determined based on assumptions that market participants would use in pricing an asset or liability. As a basis for considering such assumptions, a three-level fair value hierarchy that prioritizes the inputs used to measure fair value was established. There are three levels of inputs used to measure fair value and for disclosure purposes. Level 1 relates to quoted market prices for identical assets or liabilities in active markets. Level 2 relates to observable inputs other than quoted prices included in Level 1. Level 3 relates to unobservable inputs that are supported by little or no market activity and that are significant to the fair value of the assets or liabilities. The Company’s non-financial assets measured at fair value on a nonrecurring basis include goodwill and intangibles assets. The determination of our intangible fair values includes several assumptions and inputs (Level 3) that are subject to various risks and uncertainties. Management believes it has made reasonable estimates and judgments concerning these risks and uncertainties. All other financial assets and liabilities are carried at amortized cost. The Company’s cash balances are representative of their fair values as these balances are comprised of deposits available on demand. The carrying amounts of 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 instruments. The Company’s financial liabilities include its revolving credit facility and term loan facility. The fair value of the term loan facility, 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.

SHARE-BASED COMPENSATION

SHARE-BASED COMPENSATION	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION International Money Express, Inc. Omnibus Equity Compensation Plans On June 26, 2020, at the 2020 Annual Meeting of Stockholders, the Company’s stockholders approved the International Money Express, Inc. 2020 Omnibus Equity Compensation Plan (the “2020 Plan”), which provides for the granting of stock-based incentive awards, including stock options, restricted stock units (“RSUs”), restricted stock awards (“RSAs”) and performance stock units (“PSUs”) to employees and independent directors of the Company. There are 3.4 million shares of the Company’s common stock available for issuance under the 2020 Plan, including 0.4 million shares that were available for grant under the International Money Express, Inc. 2018 Omnibus Equity Compensation Plan (the “2018 Plan” and together with the 2020 Plan, the “Plans”). As of June 30, 2021, 2.6 million shares remained available for future awards under the 2020 Plan. The 2018 Plan was terminated effective June 26, 2020. Stock Options The value of each option grant is estimated on the grant date using the Black-Scholes option pricing model (“BSM”). The option pricing model requires the input of highly subjective assumptions, including the grant date fair value of our common stock, expected volatility, risk-free interest rates, expected term and expected dividend yield. To determine the grant date fair value of the Company’s common stock, we use the closing market price of our common stock at the grant date. We also use an expected volatility based on the historical volatility of the Company’s common stock and the “simplified” method for calculating the expected life of our stock options as the options are “plain vanilla” and we do not have any significant historical post-vesting activity. We have elected to account for forfeitures as they occur. The risk-free interest rates are obtained from publicly available U.S. Treasury yield curve rates. Share-based compensation is recognized as an expense on a straight-line basis over the requisite service period, which is generally the vesting period. The stock options issued under the Plans have 10-year terms and generally vest in four equal annual installments beginning one year after the date of the grant. The Company recognized compensation expense for stock options of approximately $0.6 million for both the three months ended June 30, 2021 and 2020, and $1.3 million and $1.2 million for the six months ended June 30, 2021 and 2020, respectively, which are included in salaries and benefits in the condensed consolidated statements of operations and comprehensive income. As of June 30, 2021, unrecognized compensation expense related to stock options of approximately $4.5 million is expected to be recognized over a weighted-average period of 1.6 years. A summary of the stock option activity under the Plans during the six months ended June 30, 2021 is presented below: Number of Weighted-Average Weighted-Average Weighted-Average Outstanding at December 31, 2020 2,714,902 $ 10.97 8.19 $ 4.03 Granted — $ — $ — Exercised (244,907) $ 9.92 $ 3.71 Forfeited (50,750) $ 10.34 $ 4.45 Outstanding at June 30, 2021 2,419,245 $ 11.09 7.56 $ 4.11 Exercisable at June 30, 2021 940,294 $ 10.30 7.24 $ 3.60 Restricted Stock Units and Share Awards The RSUs granted under the Plans to the Company’s employees generally vest in four equal annual installments beginning one year after the date of the grant, while RSUs issued to the Company’s independent directors vest on the one year anniversary from the grant date. The Company recognized compensation expense for RSUs of approximately $0.3 million and $0.1 million for the three months ended June 30, 2021 and 2020, respectively, and $0.5 million and $0.2 million for the six months ended June 30, 2021 and 2020, respectively, which are included in salaries and benefits in the condensed consolidated statements of operations and comprehensive income. As of June 30, 2021, unrecognized compensation expense related to RSUs of approximately $3.5 million is expected to be recognized over a weighted-average period of 2.1 years. A summary of the RSU activity during the six months ended June 30, 2021 is presented below: Number of RSUs Weighted-Average Nonvested at December 31, 2020 40,881 $ 13.38 Granted 269,631 $ 14.94 Vested (33,381) $ 13.13 Forfeited (17,408) $ 14.36 Nonvested at June 30, 2021 259,723 $ 14.97 Under the 2020 Plan, effective October 1, 2020, the Lead Independent Director and Chairs of the Committees of the Board of Directors are granted, in aggregate, $64.0 thousand in awards of fully vested shares of the Company’s common stock, payable on a quarterly basis at the end of each quarter in payment of fees earned in such capacities. During the three and six months ended June 30, 2021, 1,065 and 2,096 fully vested shares were granted to the Lead Independent Director and Chairs of the Committees of the Board of Directors resulting in compensation expense of $16.0 thousand and $32.0 thousand, respectively, recorded in the condensed consolidated statements of operations and comprehensive income. Restricted Stock Awards The RSAs issued under the Plans to the Company’s employees generally vest in four equal annual installments beginning one year after the date of grant. The Company recognized compensation expense for RSAs granted of $78 thousand and $101 thousand for the three and six months ended June 30, 2021, respectively, which are included in salaries and benefits in the condensed consolidated statements of operations and comprehensive income. No compensation expense was recognized for the three and six months ended June 30, 2020. As of June 30, 2021, there was $1.1 million of unrecognized compensation expense related to RSAs, which is expected to be recognized over a weighted-average period of 2.3 years. A summary of the RSA activity during the six months ended June 30, 2021 is presented below: Number of RSAs Weighted-Average Nonvested at December 31, 2020 — $ — Granted 88,215 $ 14.17 Vested — $ — Forfeited — $ — Nonvested at June 30, 2021 88,215 $ 14.17 Performance Stock Units PSUs granted to the Company’s employees generally vest subject to attainment of performance criteria during the service period established by the Compensation Committee. Each PSU represents the right to receive one share of common stock, and the actual number of shares issuable upon vesting is determined based upon performance compared to financial performance targets. The PSUs vest based on the achievement of certain revenue parameters for a period of two years combined with a service period of three years. Compensation cost is recognized over the requisite service period when it is probable that the performance condition will be satisfied. The Company recognized compensation expense for PSUs of $0.2 million and $0.3 million for the three and six months ended June 30, 2021, which are included in salaries and benefits in the condensed consolidated statements of operations and comprehensive income. There was no compensation expense recognized for the three and six months ended June 30, 2020. As of June 30, 2021, there was $2.2 million of unrecognized compensation expense related to PSUs, which is expected to be recognized over a weighted-average period of 2.5 years. A summary of the PSU activity during the six months ended June 30, 2021 is presented below: Number of PSUs Weighted-Average Weighted-Average Nonvested at December 31, 2020 — — $ — Granted 171,500 $ 14.17 Vested — $ — Forfeited — $ — Nonvested at June 30, 2021 171,500 9.68 $ 14.17

EARNINGS PER SHARE

EARNINGS PER SHARE	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHARE Basic earnings per share is calculated by dividing net income for the year by the weighted average number of common shares outstanding for the period. In computing dilutive earnings per share, basic earnings per share is adjusted for the assumed issuance of all applicable potentially dilutive share-based awards, including common stock options, RSUs, RSAs and PSUs. Below are basic and diluted earnings per share for the periods indicated (in thousands, except for share data): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net income for basic and diluted earnings per common share $ 13,227 $ 8,978 $ 22,204 $ 14,666 Shares: Weighted-average common shares outstanding – basic 38,433,748 38,035,279 38,336,977 38,035,146 Effect of dilutive securities: RSUs 41,323 12,513 33,783 7,995 Stock options 532,231 — 553,001 92 RSAs 6,234 — 4,404 — PSUs 13,878 — 9,534 — Weighted-average common shares outstanding – diluted 39,027,414 38,047,792 38,937,699 38,043,233 Earnings per common share – basic $ 0.34 $ 0.24 $ 0.58 $ 0.39 Earnings per common share – diluted $ 0.34 $ 0.24 $ 0.57 $ 0.39 As of June 30, 2021, there were 0.6 million options and 53,864 RSUs excluded from the diluted earnings per share calculation because, under the treasury stock method, the inclusion of these would be anti-dilutive. As of June 30, 2020, there were 3.1 million options and 22,500 RSUs excluded from the diluted earnings per share calculation because, under the treasury stock method, the inclusion of these would be anti-dilutive.

INCOME TAXES

INCOME TAXES	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
INCOME TAXES	INCOME TAXES A reconciliation between the income tax provision at the U.S. statutory tax rate and the Company’s income tax provision on the condensed consolidated statements of operations and comprehensive income is below (in thousands, except for tax rates): Three Months Ended Six Months Ended June 30, 2021 2020 2021 2020 Income before income taxes $ 18,030 $ 12,243 $ 30,181 $ 20,011 U.S statutory tax rate 21 % 21 % 21 % 21 % Income tax expense at statutory rate 3,786 2,571 6,338 4,202 State tax expense, net of federal 995 659 1,673 1,058 Foreign tax rates different from U.S. statutory rate 23 26 40 59 Non-deductible expenses 74 12 137 22 Other (75) (3) (211) 4 Total tax provision $ 4,803 $ 3,265 $ 7,977 $ 5,345 Effective income tax rates for interim periods are based upon our current estimated annual rate. The Company’s effective income tax rate varies based upon an estimate of taxable earnings as well as on the mix of taxable earnings in the various states and countries in which we operate. Changes in the annual allocation and apportionment of the Company’s activity among these jurisdictions results in changes to the effective rate utilized to measure the Company’s deferred tax assets and liabilities. As presented in the income tax reconciliation above, the tax provision recognized on the condensed consolidated statements of operations and comprehensive income was affected by state taxes, non-deductible expenses, share-based compensation expense and foreign tax rates applicable to the Company’s foreign subsidiaries that are higher or lower than the U.S. statutory rate. On March 27, 2020, the United States enacted the Coronavirus Aid, Relief, and Economic Security (“CARES”) Act. The CARES Act is an emergency economic stimulus package that includes spending and tax breaks to strengthen the United States economy and fund a

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Leases The Company is a party to leases for office space, warehouses and Company-operated store locations. Rent expense under all operating leases, included in other selling, general and administrative expenses in the condensed consolidated statements of operations and comprehensive income, amounted to approximately $0.6 million and $0.5 million for the three months ended June 30, 2021 and 2020, respectively, and $1.2 million and $1.0 million for the six months ended June 30, 2021 and 2020, respectively, At June 30, 2021, future minimum rental payments required under operating leases for the remainder of 2021 and thereafter are as follows (in thousands): 2021 $ 816 2022 1,322 2023 970 2024 815 2025 696 Thereafter — $ 4,619 Contingencies and Legal Proceedings The Company is subject to legal proceedings and claims that have arisen in the ordinary course of its business and have not been finally adjudicated. Although there can be no assurance as to the ultimate disposition of these matters, it is the opinion of the Company’s management, based upon the information available at this time and the stage of the proceedings, that it is not possible to determine the probability of loss or estimate of damages, and therefore, the Company has not established a reserve for any of these proceedings. The Company operates in all 50 states in the United States, two U.S. territories and 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 Pursuant to applicable licensing laws, certain domestic subsidiaries of the Company are required to maintain minimum tangible net worth and liquid assets (eligible securities) to cover the amount outstanding of wire transfers and money orders payable. As of June 30, 2021, the Company’s subsidiaries were in compliance with these two requirements.

BUSINESS AND ACCOUNTING POLIC_2

BUSINESS AND ACCOUNTING POLICIES (Policies)	6 Months Ended
	Jun. 30, 2021
Accounting Policies [Abstract]
Basis of Accounting	The condensed consolidated financial statements are prepared in accordance with accounting principles generally accepted in the United States (“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 condensed consolidated financial statements have been included. The results reported in these interim condensed consolidated financial statements are not necessarily indicative of the results that may be reported for the entire year. Certain information and footnote disclosures required by GAAP have been condensed or omitted. These interim condensed consolidated financial statements should be read in conjunction with the consolidated financial statements and related notes thereto included in the Company’s Annual Report on Form 10-K for the year ended December 31, 2020.
Accounting Pronouncements	Accounting Pronouncements The Financial Accounting Standards Board (“FASB”) issued amended guidance, Intangibles – Goodwill and other (Topic 350): Simplifying the Test for Goodwill Impairment . The amended standard simplifies how an entity tests goodwill by eliminating Step 2 of the goodwill impairment test related to measuring an impairment charge. Instead, impairment will be recorded for the amount that the carrying amount of a reporting unit exceeds its fair value. This guidance was adopted by the Company on January 1, 2021. The adoption of this guidance did not have a material impact on the condensed consolidated financial statements. The FASB issued amended guidance, Intangibles—Goodwill and Other—Internal-Use Software (Subtopic 350-40): Customer’s Accounting for Implementation Costs Incurred in a Cloud Computing Arrangement That Is a Service Contract . The amended standard requires implementation costs incurred by customers in cloud computing arrangements to be deferred and recognized over the term of the arrangement if those costs would be capitalized by the customers in a software licensing arrangement. This guidance was adopted by the Company on January 1, 2021. The adoption of this guidance did not have a material impact on the condensed consolidated financial statements. The FASB issued guidance, Simplifying the Accounting for Income Taxes (Topic 740) , which removes certain exceptions to the general principles in Topic 740 and improves consistent application of and simplifies GAAP for other areas of Topic 740 by clarifying and amending existing guidance. This guidance was adopted by the Company on January 1, 2021. The adoption of this guidance did not have a material impact on the condensed consolidated financial statements. The FASB issued guidance, Leases (Topic 842) , to increase transparency and comparability among organizations by recognizing lease assets and lease liabilities on the balance sheet for those leases classified as operating leases under previous GAAP. The guidance requires that a lessee recognizes a liability to make lease payments (the lease liability) and a right-of-use asset representing its right to use the underlying asset for the lease term on the balance sheet. This guidance is required to be adopted by the Company on January 1, 2022 using the modified retrospective approach. The Company is currently evaluating the impact this guidance will have on the condensed consolidated financial statements. The FASB issued guidance, Financial Instruments – Credit Losses (Topic 326): Measurement of Credit Losses on Financial Instruments , regarding the measurement of credit losses for certain financial instruments. The new standard replaces the incurred loss model with a current expected credit loss (“CECL”) model. The CECL model is based on historical experience, adjusted for current conditions and reasonable and supportable forecasts. The Company is required to adopt the new guidance on January 1, 2023. The Company is currently evaluating the impact this guidance will have on the condensed consolidated financial statements. The FASB issued guidance, Reference Rate Reform (Topic 848): Facilitation of the Effects of Reference Rate Reform on Financial Reporting , which provides optional expedient and exceptions for applying generally accepted accounting principles to contracts, hedging relationships, and other transactions affected by reference rate reform if certain criteria are met. In response to the concerns about structural risks of interbank offered rates (“IBORs”) and, particularly, the risk of cessation of the LIBOR, regulators in several jurisdictions around the world have undertaken reference rate reform initiatives to identify alternative reference rates that are more observable or transaction based and less susceptible to manipulation. This accounting standards update provides companies with optional guidance to ease the potential accounting burden associated with transitioning away from reference rates that are expected to be discontinued. This new guidance may be adopted by the Company no later than December 1, 2022, with early adoption permitted. The potential adoption of this guidance is not expected to have a material impact on the condensed consolidated financial statements.
Fair Value Measurements	The Company’s non-financial assets measured at fair value on a nonrecurring basis include goodwill and intangibles assets. The determination of our intangible fair values includes several assumptions and inputs (Level 3) that are subject to various risks and uncertainties. Management believes it has made reasonable estimates and judgments concerning these risks and uncertainties. All other financial assets and liabilities are carried at amortized cost. The Company’s cash balances are representative of their fair values as these balances are comprised of deposits available on demand. The carrying amounts of 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 instruments. The Company’s financial liabilities include its revolving credit facility and term loan facility. The fair value of the term loan facility, 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.

REVENUES (Tables)

REVENUES (Tables)	6 Months Ended
	Jun. 30, 2021
Revenue from Contract with Customer [Abstract]
Revenues from Contracts with Customers	The Company recognized revenues from contracts with customers for the three and six months ended June 30, 2021 and 2020, as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Wire transfer and money order fees $ 99,671 $ 72,965 $ 180,887 $ 140,281 Discounts and promotions (365) (172) (669) (393) Wire transfer and money order fees, net 99,306 72,793 180,218 139,888 Foreign exchange gain, net 16,655 11,660 29,703 21,214 Other income 786 609 1,402 1,211 Total revenues $ 116,747 $ 85,062 $ 211,323 $ 162,313

ACCOUNTS RECEIVABLE AND NOTES_2

ACCOUNTS RECEIVABLE AND NOTES RECEIVABLE, NET OF ALLOWANCE (Tables)	6 Months Ended
	Jun. 30, 2021
Receivables [Abstract]
Accounts Receivable, Allowance for Credit Loss	Accounts receivable represents outstanding balances from sending agents for pending wire transfers or money orders from our customers. The outstanding balance, net of allowance for credit losses, consists of the following (in thousands): June 30, 2021 December 31, 2020 Accounts receivable $ 72,026 $ 56,520 Allowance for credit losses (1,486) (1,503) Accounts receivable, net $ 70,540 $ 55,017 The changes in the allowance for credit losses related to accounts receivable and notes receivable are as follows (in thousands): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Beginning balance $ 2,058 $ 1,477 $ 2,042 $ 1,236 Provision 504 364 667 1,101 Charge-offs (623) (589) (888) (1,186) Recoveries 89 98 207 199 Ending Balance $ 2,028 $ 1,350 $ 2,028 $ 1,350 The allowance for credit losses allocated by financial instrument category is as follows (in thousands): June 30, 2021 December 31, 2020 Accounts receivable $ 1,486 $ 1,503 Notes receivable 542 539 Allowance for credit losses $ 2,028 $ 2,042
Notes Receivable, Net of Allowance for Credit Loss	The Company had notes receivable, net of allowance for credit losses, from sending agents as follows (in thousands): June 30, 2021 December 31, 2020 Notes receivable, current $ 630 $ 710 Allowance for credit losses (215) (244) Net current $ 415 $ 466 Notes receivable, long-term $ 921 $ 816 Allowance for credit losses (327) (295) Net long-term $ 594 $ 521
Maturities of Notes Receivable	The maturities of notes receivable at June 30, 2021 are as follows (in thousands): Unpaid Principal Under 1 year $ 630 Between 1 and 2 years 692 Between 2 and 3 years 229 Total $ 1,551

PREPAID EXPENSES AND OTHER CU_2

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
Prepaid Expense and Other Assets [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following (in thousands): June 30, 2021 December 31, 2020 Prepaid insurance $ 297 $ 465 Prepaid fees and services 1,230 1,452 Notes receivable, net of allowance 415 466 Assets pending settlement 229 218 Prepaid income taxes 1,861 103 Prepaid expenses and current assets - other 953 817 $ 4,985 $ 3,521

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	6 Months Ended
	Jun. 30, 2021
Goodwill and Intangible Assets Disclosure [Abstract]
Changes in Goodwill and Intangible Assets	The following table presents the changes in goodwill and intangible assets (in thousands): Goodwill Intangibles Balance at December 31, 2020 $ 36,260 $ 20,430 Amortization expense — (2,580) Balance at June 30, 2021 $ 36,260 $ 17,850
Amortization Expense Related to Intangible Assets	Amortization expense related to intangible assets for the next five years and thereafter is as follows (in thousands): 2021 $ 2,581 2022 3,997 2023 2,989 2024 2,270 2025 1,717 Thereafter 4,296 $ 17,850

WIRE TRANSFERS AND MONEY ORDE_2

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET (Tables)	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Schedule of Wire Transfer and Money Orders Payable	Wire transfers and money orders payable, net consisted of the following (in thousands): June 30, 2021 December 31, 2020 Wire transfers payable, net $ 22,436 $ 11,806 Customer voided wires payable 15,180 13,374 Money orders payable 17,366 16,566 $ 54,982 $ 41,746

ACCRUED AND OTHER LIABILITIES (

ACCRUED AND OTHER LIABILITIES (Tables)	6 Months Ended
	Jun. 30, 2021
Payables and Accruals [Abstract]
Accrued and Other Liabilities	Accrued and other liabilities consisted of the following (in thousands): June 30, 2021 December 31, 2020 Commissions payable to sending agents $ 14,566 $ 12,500 Accrued salaries and benefits 3,248 2,957 Accrued bank charges 1,602 1,170 Accrued legal fees 60 75 Accrued other professional fees 1,011 826 Accrued taxes 1,486 1,276 Deferred revenue loyalty program 2,944 2,750 Other 905 826 $ 25,822 $ 22,380
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, 2020 $ 2,750 Revenue deferred during the period 1,036 Revenue recognized during the period (842) Balance, June 30, 2021 $ 2,944

DEBT (Tables)

DEBT (Tables)	6 Months Ended
	Jun. 30, 2021
Debt Disclosure [Abstract]
Schedule of Debt Instruments	Debt consisted of the following (in thousands): June 30, 2021 December 31, 2020 Term loan facility $ 87,500 $ 89,383 87,500 89,383 Less: Current portion of long-term debt (1) (3,882) (7,044) Less: Debt origination costs (2,466) (1,760) $ 81,152 $ 80,579 (1) Current portion of long-term debt is net of debt origination costs of approximately $0.5 million and $0.6 million at June 30, 2021 and December 31, 2020, respectively.

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	6 Months Ended
	Jun. 30, 2021
Share-based Payment Arrangement [Abstract]
Stock Option Activity	A summary of the stock option activity under the Plans during the six months ended June 30, 2021 is presented below: Number of Weighted-Average Weighted-Average Weighted-Average Outstanding at December 31, 2020 2,714,902 $ 10.97 8.19 $ 4.03 Granted — $ — $ — Exercised (244,907) $ 9.92 $ 3.71 Forfeited (50,750) $ 10.34 $ 4.45 Outstanding at June 30, 2021 2,419,245 $ 11.09 7.56 $ 4.11 Exercisable at June 30, 2021 940,294 $ 10.30 7.24 $ 3.60
RSU Activity	A summary of the RSU activity during the six months ended June 30, 2021 is presented below: Number of RSUs Weighted-Average Nonvested at December 31, 2020 40,881 $ 13.38 Granted 269,631 $ 14.94 Vested (33,381) $ 13.13 Forfeited (17,408) $ 14.36 Nonvested at June 30, 2021 259,723 $ 14.97
RSA Activity	A summary of the RSA activity during the six months ended June 30, 2021 is presented below: Number of RSAs Weighted-Average Nonvested at December 31, 2020 — $ — Granted 88,215 $ 14.17 Vested — $ — Forfeited — $ — Nonvested at June 30, 2021 88,215 $ 14.17
PSU Activity	A summary of the PSU activity during the six months ended June 30, 2021 is presented below: Number of PSUs Weighted-Average Weighted-Average Nonvested at December 31, 2020 — — $ — Granted 171,500 $ 14.17 Vested — $ — Forfeited — $ — Nonvested at June 30, 2021 171,500 9.68 $ 14.17

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	6 Months Ended
	Jun. 30, 2021
Earnings Per Share [Abstract]
Basic and Diluted Net Loss per Share	Below are basic and diluted earnings per share for the periods indicated (in thousands, except for share data): Three Months Ended June 30, Six Months Ended June 30, 2021 2020 2021 2020 Net income for basic and diluted earnings per common share $ 13,227 $ 8,978 $ 22,204 $ 14,666 Shares: Weighted-average common shares outstanding – basic 38,433,748 38,035,279 38,336,977 38,035,146 Effect of dilutive securities: RSUs 41,323 12,513 33,783 7,995 Stock options 532,231 — 553,001 92 RSAs 6,234 — 4,404 — PSUs 13,878 — 9,534 — Weighted-average common shares outstanding – diluted 39,027,414 38,047,792 38,937,699 38,043,233 Earnings per common share – basic $ 0.34 $ 0.24 $ 0.58 $ 0.39 Earnings per common share – diluted $ 0.34 $ 0.24 $ 0.57 $ 0.39

INCOME TAXES (Tables)

INCOME TAXES (Tables)	6 Months Ended
	Jun. 30, 2021
Income Tax Disclosure [Abstract]
Reconciliation of Tax Provision (Benefit)	A reconciliation between the income tax provision at the U.S. statutory tax rate and the Company’s income tax provision on the condensed consolidated statements of operations and comprehensive income is below (in thousands, except for tax rates): Three Months Ended Six Months Ended June 30, 2021 2020 2021 2020 Income before income taxes $ 18,030 $ 12,243 $ 30,181 $ 20,011 U.S statutory tax rate 21 % 21 % 21 % 21 % Income tax expense at statutory rate 3,786 2,571 6,338 4,202 State tax expense, net of federal 995 659 1,673 1,058 Foreign tax rates different from U.S. statutory rate 23 26 40 59 Non-deductible expenses 74 12 137 22 Other (75) (3) (211) 4 Total tax provision $ 4,803 $ 3,265 $ 7,977 $ 5,345

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Tables)	6 Months Ended
	Jun. 30, 2021
Commitments and Contingencies Disclosure [Abstract]
Future Minimum Rental Payments	At June 30, 2021, future minimum rental payments required under operating leases for the remainder of 2021 and thereafter are as follows (in thousands): 2021 $ 816 2022 1,322 2023 970 2024 815 2025 696 Thereafter — $ 4,619

BUSINESS AND ACCOUNTING POLIC_3

BUSINESS AND ACCOUNTING POLICIES (Details)	6 Months Ended
	Jun. 30, 2021store
Noncontrolling Interest [Line Items]
Number of company owned stores	34
Intermex Guatemala
Noncontrolling Interest [Line Items]
Ownership percentage	100.00%
Intermex Mexico
Noncontrolling Interest [Line Items]
Ownership percentage	98.00%
Intermex Wire Transfer Corp
Noncontrolling Interest [Line Items]
Ownership percentage	100.00%
Intermex Wire Transfer II, LLC
Noncontrolling Interest [Line Items]
Ownership percentage	100.00%
Canada International Transfers Corp
Noncontrolling Interest [Line Items]
Ownership percentage	100.00%

REVENUES, Revenues from Contrac

REVENUES, Revenues from Contract with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Disaggregation of Revenue [Line Items]
Wire transfer and money order fees	$ 99,671	$ 72,965	$ 180,887	$ 140,281
Discounts and promotions	(365)	(172)	(669)	(393)
Revenues	116,747	85,062	211,323	162,313
Wire transfer and money order fees, net
Disaggregation of Revenue [Line Items]
Revenues	99,306	72,793	180,218	139,888
Foreign exchange gain, net
Disaggregation of Revenue [Line Items]
Revenues	16,655	11,660	29,703	21,214
Other income
Disaggregation of Revenue [Line Items]
Revenues	$ 786	$ 609	$ 1,402	$ 1,211

REVENUES, Narrative (Details)

REVENUES, Narrative (Details)	6 Months Ended
	Jun. 30, 2021obligationpoint
Revenue from Contract with Customer [Abstract]
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
Number of performance obligation | obligation	1

ACCOUNTS RECEIVABLE AND NOTES_3

ACCOUNTS RECEIVABLE AND NOTES RECEIVABLE, NET OF ALLOWANCE - Accounts Receivable Outstanding Balance (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
Accounts receivable	$ 72,026	$ 56,520
Allowance for credit losses	(1,486)	(1,503)
Accounts receivable, net	$ 70,540	$ 55,017

ACCOUNTS RECEIVABLE AND NOTES_4

ACCOUNTS RECEIVABLE AND NOTES RECEIVABLE, NET OF ALLOWANCE - Notes Receivable, Net of Allowance for Credit Loss (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Receivables [Abstract]
Notes receivable, current	$ 630	$ 710
Allowance for credit losses	(215)	(244)
Net current	415	466
Notes receivable, long-term	921	816
Allowance for credit losses	(327)	(295)
Net long-term	$ 594	$ 521

ACCOUNTS RECEIVABLE AND NOTES_5

ACCOUNTS RECEIVABLE AND NOTES RECEIVABLE, NET OF ALLOWANCE - Narrative (Details) - USD ($) $ in Millions	6 Months Ended
	Jun. 30, 2021	Dec. 31, 2020
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes collateralized	$ 1.6	$ 1.5
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate on notes receivable	0.00%
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate on notes receivable	16.00%

ACCOUNTS RECEIVABLE AND NOTES_6

ACCOUNTS RECEIVABLE AND NOTES RECEIVABLE, NET OF ALLOWANCE - Maturities of Notes Receivable (Details) $ in Thousands	Jun. 30, 2021USD ($)
Receivables [Abstract]
Under 1 year	$ 630
Between 1 and 2 years	692
Between 2 and 3 years	229
Total	$ 1,551

ACCOUNTS RECEIVABLE AND NOTES_7

ACCOUNTS RECEIVABLE AND NOTES RECEIVABLE, NET OF ALLOWANCE - Changes in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 2,058	$ 1,477	$ 2,042	$ 1,236
Provision	504	364	667	1,101
Charge-offs	(623)	(589)	(888)	(1,186)
Recoveries	89	98	207	199
Ending Balance	$ 2,028	$ 1,350	$ 2,028	$ 1,350

ACCOUNTS RECEIVABLE AND NOTES_8

ACCOUNTS RECEIVABLE AND NOTES RECEIVABLE, NET OF ALLOWANCE - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Mar. 31, 2021	Dec. 31, 2020	Jun. 30, 2020	Mar. 31, 2020	Dec. 31, 2019
Receivables [Abstract]
Accounts receivable	$ 1,486		$ 1,503
Notes receivable	542		539
Allowance for credit losses	$ 2,028	$ 2,058	$ 2,042	$ 1,350	$ 1,477	$ 1,236

PREPAID EXPENSES AND OTHER CU_3

PREPAID EXPENSES AND OTHER CURRENT ASSETS (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Prepaid Expense and Other Assets [Abstract]
Prepaid insurance	$ 297	$ 465
Prepaid fees and services	1,230	1,452
Notes receivable, net of allowance	415	466
Assets pending settlement	229	218
Prepaid income taxes	1,861	103
Prepaid expenses and current assets - other	953	817
Prepaid expenses and other assets	$ 4,985	$ 3,521

GOODWILL AND INTANGIBLE ASSETS,

GOODWILL AND INTANGIBLE ASSETS, Narrative (Details)	6 Months Ended
	Jun. 30, 2021
Agent Relationships
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets amortization period, under accelerated method	15 years
Trade Names
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets amortization period, under accelerated method	15 years
Developed Technology Rights
Finite-Lived Intangible Assets, Net [Abstract]
Intangible assets amortization period, under accelerated method	15 years
Number of development years for state-of-the-art system	20 years
Other Intangible Assets
Finite-Lived Intangible Assets, Net [Abstract]
Intangible asset, useful life	10 years

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS, Changes in Goodwill and Intangible Assets (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Goodwill
Goodwill, beginning balance	$ 36,260
Amortization expense	0
Goodwill, ending balance	36,260
Intangibles
Other intangible assets, beginning balance	20,430
Amortization expense	(2,580)
Other intangible assets, ending balance	$ 17,850

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS, Amortization Expense Related to Intangible Assets (Details) $ in Thousands	Jun. 30, 2021USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2021	$ 2,581
2022	3,997
2023	2,989
2024	2,270
2025	1,717
Thereafter	4,296
Net amortizable intangible assets	$ 17,850

WIRE TRANSFERS AND MONEY ORDE_3

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Wire transfers payable, net	$ 22,436	$ 11,806
Customer voided wires payable	15,180	13,374
Money orders payable	17,366	16,566
Total wire transfers and money orders payable, net	$ 54,982	$ 41,746

ACCRUED AND OTHER LIABILITIES,

ACCRUED AND OTHER LIABILITIES, Accrued and Other Liabilities (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Payables and Accruals [Abstract]
Commissions payable to sending agents	$ 14,566	$ 12,500
Accrued salaries and benefits	3,248	2,957
Accrued bank charges	1,602	1,170
Accrued legal fees	60	75
Accrued other professional fees	1,011	826
Accrued taxes	1,486	1,276
Deferred revenue loyalty program	2,944	2,750
Other	905	826
Total accrued and other liabilities	$ 25,822	$ 22,380

ACCRUED AND OTHER LIABILITIES_2

ACCRUED AND OTHER LIABILITIES, Changes in Deferred Revenue Loyalty Program Liability (Details) $ in Thousands	6 Months Ended
	Jun. 30, 2021USD ($)
Movement in Deferred Revenue [Roll Forward]
Beginning balance	$ 2,750
Revenue deferred during the period	1,036
Revenue recognized during the period	(842)
Ending balance	$ 2,944

DEBT, Schedule of Debt Instrume

DEBT, Schedule of Debt Instruments (Details) - USD ($) $ in Thousands	Jun. 30, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Long-term debt, gross	$ 87,500	$ 89,383
Less: Current portion of long-term debt	(3,882)	(7,044)
Less: Debt origination costs	(2,466)	(1,760)
Long-term debt, noncurrent	81,152	80,579
Debt origination costs, current	500	600
Term loan facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 87,500	$ 89,383

DEBT, Narrative (Details)

DEBT, Narrative (Details) - USD ($)	May 12, 2021	Nov. 07, 2018	May 31, 2021	Jun. 30, 2021	Jun. 30, 2020	Dec. 31, 2019	Jun. 24, 2021	Dec. 31, 2020
Debt Instrument [Line Items]
Borrowings under term loan facility				$ 40,158,000	$ 0
Debt origination costs				2,894,000	$ 0
Long-term debt, gross				87,500,000				$ 89,383,000
Term loan facility
Debt Instrument [Line Items]
Long-term debt, gross				$ 87,500,000				$ 89,383,000
Credit Agreement
Debt Instrument [Line Items]
Unused line fee percentage				0.35%
Credit Agreement | Minimum | LIBOR
Debt Instrument [Line Items]
Interest rate				2.50%
Credit Agreement | Minimum | Base Rate
Debt Instrument [Line Items]
Interest rate				1.50%
Credit Agreement | Maximum | LIBOR
Debt Instrument [Line Items]
Interest rate				3.00%
Credit Agreement | Maximum | Base Rate
Debt Instrument [Line Items]
Interest rate				2.00%
Credit Agreement | Term loan facility
Debt Instrument [Line Items]
Debt instrument, face amount				$ 90,000,000
Effective interest rate				5.19%
Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 45,000,000			$ 35,000,000
Debt origination costs	$ 76,800
Unamortized debt origination costs				$ 1,800,000
Effective interest rate				0.98%
Debt instrument, covenant, repurchase of common stock threshold				$ 10,000,000
Debt instrument, covenant, restricted payment threshold				40,000,000
Long-term debt, gross							$ 87,500,000
Credit Agreement | Incremental Facility
Debt Instrument [Line Items]
Maximum borrowing capacity				$ 30,000,000
Borrowings under term loan facility			$ 10,000,000			$ 12,000,000
A&R Credit Agreement
Debt Instrument [Line Items]
Consolidated leverage ratio				3
A&R Credit Agreement | Minimum
Debt Instrument [Line Items]
Fixed charge coverage ratio				1.25
A&R Credit Agreement | Maximum
Debt Instrument [Line Items]
Consolidated leverage ratio				3.25
A&R Credit Agreement | Term loan facility | Year 1
Debt Instrument [Line Items]
Periodic repayment percentage				5.00%
A&R Credit Agreement | Term loan facility | Year 2
Debt Instrument [Line Items]
Periodic repayment percentage				5.00%
A&R Credit Agreement | Term loan facility | Year 3
Debt Instrument [Line Items]
Periodic repayment percentage				7.50%
A&R Credit Agreement | Term loan facility | Year 4
Debt Instrument [Line Items]
Periodic repayment percentage				10.00%
A&R Credit Agreement | Term loan facility | Year 5
Debt Instrument [Line Items]
Periodic repayment percentage				10.00%
A&R Credit Agreement | Revolving Credit Facility
Debt Instrument [Line Items]
Maximum borrowing capacity							150,000,000
Debt origination costs		$ 1,800,000
A&R Credit Agreement | Term Loan Facility
Debt Instrument [Line Items]
Maximum borrowing capacity							87,500,000
Debt origination costs		$ 1,000,000
A&R Credit Agreement | Uncommitted Incremental Facility
Debt Instrument [Line Items]
Maximum borrowing capacity							$ 70,000,000

SHARE-BASED COMPENSATION, Narra

SHARE-BASED COMPENSATION, Narrative (Details)	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)shares	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)installmentshares	Jun. 30, 2020USD ($)	Oct. 01, 2020shares	Jun. 26, 2020shares
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equal installments for options vesting | installment			4
Share-based compensation expense	$ 300,000	$ 100,000	$ 500,000	$ 200,000
Unrecognized compensation expense	3,500,000		$ 3,500,000
Weighted-average period for recognition			2 years 1 month 6 days
Granted (in shares) | shares			269,631
RSUs | Employees
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			1 year
RSUs | Independent Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			1 year
RSAs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of equal installments for options vesting | installment			4
Award vesting period			1 year
Share-based compensation expense	78,000	0	$ 101,000	0
Unrecognized compensation expense	1,100,000		$ 1,100,000
Weighted-average period for recognition			2 years 3 months 18 days
Granted (in shares) | shares			88,215
Phantom Share Units (PSUs)
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			2 years
Share-based compensation expense	200,000	$ 0	$ 300,000	0
Unrecognized compensation expense	$ 2,200,000		$ 2,200,000
Weighted-average period for recognition			2 years 6 months
Share-based Compensation Arrangement by Share-based Payment Award, Award Requisite Service Period			3 years
the “2020 Plan”
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares) | shares	2,600,000		2,600,000			3,400,000
the “2020 Plan” | Share Awards
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares) | shares					64,000
Share-based compensation expense	$ 16,000		$ 32,000
Granted (in shares) | shares	1,065		2,096
the “2018 Plan”
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares) | shares						400,000
the “2018 Plan” | Stock options
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Stock options term			10 years
Number of equal installments for options vesting | installment			4
Award vesting period			1 year
Share-based compensation expense	$ 600,000		$ 1,300,000	$ 1,200,000
Unrecognized compensation expense	$ 4,500,000		$ 4,500,000
Weighted-average period for recognition			1 year 7 months 6 days
Granted (in shares) | shares			0
Forfeited RSUs (in shares) | shares			50,750

SHARE-BASED COMPENSATION, Stock

SHARE-BASED COMPENSATION, Stock Option Activity (Details)	6 Months Ended	9 Months Ended
	Jun. 30, 2021$ / sharesshares	Sep. 30, 2020
Weighted-Average Grant Date Fair Value
Exercisable ending balance (in dollars per share)	$ 3.60
Stock options | the “2018 Plan”
Number of Options
Outstanding, beginning balance (in shares) | shares	2,714,902
Granted (in shares) | shares	0
Exercised (in shares) | shares	(244,907)
Forfeited (in shares) | shares	(50,750)
Outstanding, ending balance (in shares) | shares	2,419,245
Exercisable, ending balance (in shares) | shares	940,294
Weighted-Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 10.97
Granted (in dollars per share)	0
Exercised (in dollars per share)	9.92
Forfeited (in dollars per share)	10.34
Outstanding, ending balance (in dollars per share)	11.09
Exercisable, ending balance (in dollars per share)	$ 10.30
Weighted-Average Remaining Contractual Term (Years)
Weighted average remaining contractual term, outstanding	7 years 6 months 21 days	8 years 2 months 8 days
Weighted average remaining contractual term, exercisable	7 years 2 months 26 days
Weighted-Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share)	$ 4.03
Granted (in dollars per share)	0
Exercised (in dollars per share)	3.71
Forfeited (in dollars per share)	4.45
Outstanding ending balance (in dollars per share)	$ 4.11

SHARE-BASED COMPENSATION, RSU,

SHARE-BASED COMPENSATION, RSU, RSA, and PSU Activity (Details)	6 Months Ended
	Jun. 30, 2021$ / sharesshares
RSUs
Number
Nonvested at beginning of period (in shares) | shares	40,881
Granted (in shares) | shares	269,631
Vested (in shares) | shares	(33,381)
Forfeited (in shares) | shares	(17,408)
Nonvested at end of period (in shares) | shares	259,723
Weighted-Average Grant Price
Nonvested at beginning of period (in dollars per share) | $ / shares	$ 13.38
Granted (in dollars per share) | $ / shares	14.94
Vested (in dollars per share) | $ / shares	13.13
Forfeited (in dollars per share) | $ / shares	14.36
Nonvested at end of period (in dollars per share) | $ / shares	$ 14.97
RSAs
Number
Nonvested at beginning of period (in shares) | shares	0
Granted (in shares) | shares	88,215
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
Nonvested at end of period (in shares) | shares	88,215
Weighted-Average Grant Price
Nonvested at beginning of period (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	14.17
Vested (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
Nonvested at end of period (in dollars per share) | $ / shares	$ 14.17
PSUs
Number
Nonvested at beginning of period (in shares) | shares	0
Granted (in shares) | shares	171,500
Vested (in shares) | shares	0
Forfeited (in shares) | shares	0
Nonvested at end of period (in shares) | shares	171,500
Weighted-Average Grant Price
Nonvested at beginning of period (in dollars per share) | $ / shares	$ 0
Granted (in dollars per share) | $ / shares	14.17
Vested (in dollars per share) | $ / shares	0
Forfeited (in dollars per share) | $ / shares	0
Nonvested at end of period (in dollars per share) | $ / shares	$ 14.17
Weighted-Average Remaining Contractual Term (Years)	9 years 8 months 4 days

EARNINGS PER SHARE, Basic and D

EARNINGS PER SHARE, Basic and Diluted Net Loss per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income for basic and diluted earnings per common share	$ 13,227	$ 8,978	$ 22,204	$ 14,666
Shares:
Weighted-average common shares outstanding - basic (in shares)	38,433,748	38,035,279	38,336,977	38,035,146
Weighted-average common shares outstanding - diluted (in shares)	39,027,414	38,047,792	38,937,699	38,043,233
Earnings per common share – basic (in dollars per share)	$ 0.34	$ 0.24	$ 0.58	$ 0.39
Earnings per common share – diluted (in dollars per share)	$ 0.34	$ 0.24	$ 0.57	$ 0.39
RSUs
Shares:
Effect of dilutive securities (in shares)	41,323	12,513	33,783	7,995
Stock options
Shares:
Effect of dilutive securities (in shares)	532,231	0	553,001	92
RSAs
Shares:
Effect of dilutive securities (in shares)	6,234	0	4,404	0
PSUs
Shares:
Effect of dilutive securities (in shares)	13,878	0	9,534	0

EARNINGS PER SHARE, Narrative (

EARNINGS PER SHARE, Narrative (Details) - shares	6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted loss per share (in shares)	600,000	3,100,000
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted loss per share (in shares)	53,864	22,500

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2021	Jun. 30, 2020	Jun. 30, 2021	Jun. 30, 2020
Income Tax Disclosure [Abstract]
Income before income taxes	$ 18,030	$ 12,243	$ 30,181	$ 20,011
U.S statutory tax rate	21.00%	21.00%	21.00%	21.00%
Income tax expense at statutory rate	$ 3,786	$ 2,571	$ 6,338	$ 4,202
State tax expense, net of federal	995	659	1,673	1,058
Foreign tax rates different from U.S. statutory rate	23	26	40	59
Non-deductible expenses	74	12	137	22
Other	(75)	(3)	(211)	4
Total tax provision	$ 4,803	$ 3,265	$ 7,977	$ 5,345

COMMITMENTS AND CONTINGENCIES,

COMMITMENTS AND CONTINGENCIES, Narrative (Details) $ in Millions	3 Months Ended		6 Months Ended
	Jun. 30, 2021USD ($)countrystateterritory	Jun. 30, 2020USD ($)	Jun. 30, 2021USD ($)countrystateterritory	Jun. 30, 2020USD ($)
Commitments and Contingencies Disclosure [Abstract]
Rent expense | $	$ 0.6	$ 0.5	$ 1.2	$ 1
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

COMMITMENTS AND CONTINGENCIES_2

COMMITMENTS AND CONTINGENCIES, Future Minimum Rental Payments (Details) $ in Thousands	Jun. 30, 2021USD ($)
Commitments and Contingencies Disclosure [Abstract]
2021	$ 816
2022	1,322
2023	970
2024	815
2025	696
Thereafter	0
Total	$ 4,619