International Money Express (IMXI) 10-Q 7 Nov 23 2023 Q3 Quarterly report Financial data

Cover

Cover - shares	9 Months Ended
	Sep. 30, 2023	Nov. 02, 2023
Cover [Abstract]
Document Type	10-Q
Document Quarterly Report	true
Document Period End Date	Sep. 30, 2023
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	false
Entity Shell Company	false
Entity Common Stock, Shares Outstanding		34,867,023
Entity Central Index Key	0001683695
Current Fiscal Year End Date	--12-31
Amendment Flag	false
Document Fiscal Year Focus	2023
Document Fiscal Period Focus	Q3

CONDENSED CONSOLIDATED BALANCE

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Current assets:
Cash and cash equivalents	$ 222,447	$ 149,493
Accounts receivable, net	163,007	129,808
Prepaid wires, net	84,147	90,386
Prepaid expenses and other current assets	12,730	12,749
Total current assets	482,331	382,436
Property and equipment, net	28,967	28,160
Goodwill	53,814	49,774
Intangible assets, net	19,358	19,826
Other assets	35,121	31,876
Total assets	619,591	512,072
Current liabilities:
Current portion of long-term debt, net	6,616	4,975
Accounts payable	33,283	25,686
Wire transfers and money orders payable, net	159,858	112,251
Accrued and other liabilities	44,270	41,855
Total current liabilities	244,027	184,767
Long-term liabilities:
Debt, net	193,137	150,235
Lease liabilities, net	22,465	23,272
Deferred tax liability, net	2,324	3,892
Total long-term liabilities	217,926	177,399
Commitments and contingencies, see Note 16
Stockholders’ equity:
Common stock $0.0001 par value; 230,000,000 shares authorized, 39,626,532 and 39,453,236 shares issued and 35,069,785 and 36,630,970 shares outstanding as of September 30, 2023 and December 31, 2022, respectively.	4	4
Additional paid-in capital	76,404	70,210
Retained earnings	181,150	139,134
Accumulated other comprehensive income (loss)	1	(142)
Treasury stock, at cost; 4,556,747 and 2,822,266 shares as of September 30, 2023 and December 31, 2022, respectively.	(99,921)	(59,300)
Total stockholders’ equity	157,638	149,906
Total liabilities and stockholders’ equity	$ 619,591	$ 512,072

CONDENSED CONSOLIDATED BALANC_2

CONDENSED CONSOLIDATED BALANCE SHEETS (Parenthetical) - $ / shares	Sep. 30, 2023	Dec. 31, 2022
Statement of Financial Position [Abstract]
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)	39,626,532	39,453,236
Common shares, outstanding (in shares)	35,069,785	36,630,970
Treasury stock (in shares)	4,556,747	2,822,266

CONDENSED CONSOLIDATED STATEMEN

CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Revenues:
Total revenues	$ 172,437	$ 140,767	$ 486,952	$ 392,368
Operating expenses:
Service charges from agents and banks	112,871	93,658	319,983	262,717
Salaries and benefits	18,607	13,853	52,415	36,911
Other selling, general and administrative expenses	13,235	10,232	37,210	24,964
Depreciation and amortization	3,472	2,278	9,511	6,712
Total operating expenses	148,185	120,021	419,119	331,304
Operating income	24,252	20,746	67,833	61,064
Interest expense	2,801	1,466	7,643	3,530
Income before income taxes	21,451	19,280	60,190	57,534
Income tax provision	6,619	2,654	18,174	13,270
Net income	14,832	16,626	42,016	44,264
Other comprehensive income (loss)	(214)	(150)	142	(139)
Comprehensive income	$ 14,618	$ 16,476	$ 42,158	$ 44,125
Earnings per common share:
Basic (in dollars per share)	$ 0.42	$ 0.44	$ 1.17	$ 1.16
Diluted (in dollars per share)	$ 0.41	$ 0.43	$ 1.14	$ 1.14
Weighted-average common shares outstanding:
Basic (in shares)	35,320,809	37,390,632	35,930,234	37,999,709
Diluted (in shares)	36,082,163	38,425,868	36,767,680	38,907,283
Wire transfer and money order fees, net
Revenues:
Total revenues	$ 147,387	$ 120,718	$ 416,355	$ 336,340
Foreign exchange gain, net
Revenues:
Total revenues	22,688	18,851	64,239	52,719
Other income
Revenues:
Total revenues	$ 2,362	$ 1,198	$ 6,358	$ 3,309

CONDENSED CONSOLIDATED STATEM_2

CONDENSED CONSOLIDATED STATEMENTS OF CHANGES IN STOCKHOLDERS' EQUITY - USD ($) $ in Thousands	Total	Common Stock	Treasury Stock	Additional Paid-in Capital	Retained Earnings	Accumulated Other Comprehensive Income (Loss)
Beginning balance, common (in shares) at Dec. 31, 2021		38,820,222
Beginning balance at Dec. 31, 2021	$ 143,040	$ 4	$ (5,566)	$ 66,875	$ 81,803	$ (76)
Beginning balance, treasury (in shares) at Dec. 31, 2021			(341,522)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	44,264				44,264
Issuance of common stock:
Exercise of stock options, net of shares withheld for taxes (in shares)		451,304
Exercise of stock options, net of shares withheld for taxes	(3,675)			(3,675)
Restricted stock units and awards, net of shares withheld for taxes (in shares)		142,991
Restricted stock units and awards, net of shares withheld for taxes	(301)			(301)
Fully vested shares (in shares)		2,560
Share-based compensation	5,558			5,558
Adjustment from foreign currency translation, net	$ (139)					(139)
Acquisition of treasury stock, at cost (in shares)	(2,015,615)		(2,015,615)
Acquisition of treasury stock, at cost	$ (43,734)		$ (43,734)
Ending balance, common (in shares) at Sep. 30, 2022		39,417,077
Ending balance at Sep. 30, 2022	145,013	$ 4	$ (49,300)	68,457	126,067	(215)
Ending balance, treasury (in shares) at Sep. 30, 2022			(2,357,137)
Beginning balance, common (in shares) at Jun. 30, 2022		39,011,042
Beginning balance at Jun. 30, 2022	160,198	$ 4	$ (19,194)	70,012	109,441	(65)
Beginning balance, treasury (in shares) at Jun. 30, 2022			(1,069,423)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	16,626				16,626
Issuance of common stock:
Exercise of stock options, net of shares withheld for taxes (in shares)		377,589
Exercise of stock options, net of shares withheld for taxes	(4,162)			(4,162)
Restricted stock units and awards, net of shares withheld for taxes (in shares)		27,664
Restricted stock units and awards, net of shares withheld for taxes	(18)			(18)
Fully vested shares (in shares)		782
Share-based compensation	2,625			2,625
Adjustment from foreign currency translation, net	$ (150)					(150)
Acquisition of treasury stock, at cost (in shares)	(1,287,714)		(1,287,714)
Acquisition of treasury stock, at cost	$ (30,106)		$ (30,106)
Ending balance, common (in shares) at Sep. 30, 2022		39,417,077
Ending balance at Sep. 30, 2022	$ 145,013	$ 4	$ (49,300)	68,457	126,067	(215)
Ending balance, treasury (in shares) at Sep. 30, 2022			(2,357,137)
Beginning balance, common (in shares) at Dec. 31, 2022	36,630,970	39,453,236
Beginning balance at Dec. 31, 2022	$ 149,906	$ 4	$ (59,300)	70,210	139,134	(142)
Beginning balance, treasury (in shares) at Dec. 31, 2022	(2,822,266)		(2,822,266)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	$ 42,016				42,016
Issuance of common stock:
Exercise of stock options, net of shares withheld for taxes (in shares)		78,500
Exercise of stock options, net of shares withheld for taxes	956			956
Restricted stock units and awards, net of shares withheld for taxes (in shares)		92,368
Restricted stock units and awards, net of shares withheld for taxes	(979)			(979)
Fully vested shares (in shares)		2,428
Share-based compensation	6,217			6,217
Adjustment from foreign currency translation, net	$ 142					142
Acquisition of treasury stock, at cost (in shares)	(1,734,481)		(1,734,481)
Acquisition of treasury stock, at cost	$ (40,621)		$ (40,621)
Ending balance, common (in shares) at Sep. 30, 2023	35,069,785	39,626,532
Ending balance at Sep. 30, 2023	$ 157,638	$ 4	$ (99,921)	76,404	181,150	1
Ending balance, treasury (in shares) at Sep. 30, 2023	(4,556,747)		(4,556,747)
Beginning balance, common (in shares) at Jun. 30, 2023		39,571,073
Beginning balance at Jun. 30, 2023	$ 150,825	$ 4	$ (89,815)	74,103	166,318	215
Beginning balance, treasury (in shares) at Jun. 30, 2023			(4,054,847)
Increase (Decrease) in Stockholders' Equity [Roll Forward]
Net income	14,832				14,832
Issuance of common stock:
Exercise of stock options, net of shares withheld for taxes (in shares)		11,250
Exercise of stock options, net of shares withheld for taxes	134			134
Restricted stock units and awards, net of shares withheld for taxes (in shares)		43,388
Restricted stock units and awards, net of shares withheld for taxes	(107)			(107)
Fully vested shares (in shares)		821
Share-based compensation	2,274			2,274
Adjustment from foreign currency translation, net	$ (214)					(214)
Acquisition of treasury stock, at cost (in shares)	(501,900)		(501,900)
Acquisition of treasury stock, at cost	$ (10,106)		$ (10,106)
Ending balance, common (in shares) at Sep. 30, 2023	35,069,785	39,626,532
Ending balance at Sep. 30, 2023	$ 157,638	$ 4	$ (99,921)	$ 76,404	$ 181,150	$ 1
Ending balance, treasury (in shares) at Sep. 30, 2023	(4,556,747)		(4,556,747)

CONDENSED CONSOLIDATED STATEM_3

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022
Cash flows from operating activities:
Net income	$ 42,016	$ 44,264
Adjustments to reconcile net income to net cash provided by (used in) operating activities:
Depreciation and amortization	9,511	6,712
Share-based compensation	6,217	5,558
Provision for credit losses	3,770	2,022
Fair value of contingent consideration	(121)	0
Debt origination costs amortization	829	752
Deferred income tax benefit, net	(959)	(1,376)
Non-cash lease expense	5,965	1,631
Loss on disposal of property and equipment	1,479	633
Total adjustments	26,691	15,932
Changes in operating assets and liabilities:
Accounts receivable, net	(36,190)	(34,864)
Prepaid wires, net	12,037	(47,099)
Prepaid expenses and other assets	(3,353)	(828)
Wire transfers and money orders payable, net	39,740	18,158
Lease liabilities	(5,424)	(2,013)
Accounts payable and accrued and other liabilities	6,923	(3,398)
Net cash provided by (used in) operating activities	82,440	(9,848)
Cash flows from investing activities:
Purchases of property and equipment	(7,711)	(9,155)
Cash used in business acquisition, net of cash and cash equivalents acquired	(5,477)	0
Acquisition of agent locations	0	(225)
Net cash used in investing activities	(13,188)	(9,380)
Cash flows from financing activities:
Repayments of term loan facility	(3,828)	(3,281)
Borrowings under revolving credit facility, net	48,000	43,000
Debt origination costs	(701)	0
Proceeds from exercise of stock options	956	1,374
Payments for stock awards	(979)	(5,349)
Repurchases of common stock	(40,621)	(43,734)
Net cash provided by (used in) financing activities	2,827	(7,990)
Effect of exchange rate changes on cash and cash equivalents	875	(204)
Net increase (decrease) in cash and cash equivalents	72,954	(27,422)
Cash and cash equivalents, beginning of period	149,493	132,474
Cash and cash equivalents, end of period	222,447	105,052
Supplemental disclosure of cash flow information:
Cash paid for interest	6,737	2,773
Cash paid for income taxes	18,981	19,692
Supplemental disclosure of non-cash investing activities:
Lease liabilities arising from obtaining right-of-use assets	5,325	6,033
Right-of-use asset adjustments due to lease modifications	0	1,124
Contingent consideration liability	600	0
Settlement of receivable balance from LAN Holdings	2,534	0
Supplemental disclosure of non-cash financing activities:
Issuance of common stock for cashless exercise of options	$ 0	$ 9,175

BUSINESS AND ACCOUNTING POLICIE

BUSINESS AND ACCOUNTING POLICIES	9 Months Ended
	Sep. 30, 2023
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.”), Canada, Spain, Italy and Germany to Mexico, Guatemala and other countries in Latin America, Africa, Asia and Europe through a network of authorized agents located in various unaffiliated retail establishments and 124 Company-operated stores throughout the United States, Canada, Spain, Italy and Germany. The condensed consolidated financial statements of the Company include International Money Express, Inc. and its majority-owned subsidiaries. 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, 2022. In March 2022, the Company entered into a definitive purchase agreement to acquire Envios de Valores La Nacional Corp. (“La Nacional”) and LAN Holdings, Corp. (“LAN Holdings”), which either directly or indirectly operate as money remittance companies in the United States, Canada and certain countries in Europe. The acquisition of La Nacional was closed effective November 1, 2022 and the acquisition of LAN Holdings was closed effective April 5, 2023. Refer to Note 2 for additional information on these acquisitions. Concentrations The Company maintains certain of its cash balances in various U.S. banks, which at times, may exceed federally insured limits. The Company has not incurred any losses on these accounts. In addition, the Company maintains various bank accounts in Mexico, Guatemala, Canada and certain countries in Europe, which may not be fully insured. During the three and nine months ended September 30, 2023, the Company has not incurred any losses on these uninsured foreign bank accounts. In addition, a substantial portion of our paying agents are concentrated in a few large banks and financial institutions and large retail chains in Latin American countries. Accounting Pronouncements

ACQUISITIONS

ACQUISITIONS	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
ACQUISITIONS	ACQUISITIONS Envios de Valores La Nacional Corp. On November 1, 2022, the Company completed the acquisition of 100% of the voting interest of La Nacional (the “La Nacional Acquisition”) and on April 5, 2023, the Company completed the acquisition of 100% of the voting interest of LAN Holdings (the “LAN Acquisition”) (the “LAN Acquisition,” and together with the La Nacional Acquisition, the “Acquisitions”). See “LAN Holdings, Corp.” section below. The Company paid cash consideration of $39.7 million upon consummation of the La Nacional Acquisition (subject to customary purchase price adjustments) and could be required to pay up to $2.4 million in contingent consideration in 2023 as a result of La Nacional achieving certain transaction volume and financial targets during 2023. The contingent consideration fair value as of September 30, 2023 and December 31, 2022 was approximately $1.2 million and $1.3 million, respectively. During the nine months ended September 30, 2023, the Company recorded a fair value adjustment of $0.1 million (none in the three months ended September 30, 2023) based on the expected achievement of the financial targets. The following table summarizes the fair values of consideration transferred and identifiable net assets acquired in the La Nacional Acquisition on November 1, 2022, the measurement period adjustments in the nine months ended September 30, 2023 and the fair values of consideration transferred and identifiable net assets acquired as of September 30, 2023. November 1, 2022 Measurement Period Adjustments September 30, 2023 Assets acquired: Cash and cash equivalents $ 39,569 $ — $ 39,569 Accounts receivable 16,504 — 16,504 Prepaid wires 571 — 571 Prepaid expenses and other current assets 1,219 430 1,649 Property and equipment 4,077 — 4,077 Intangible assets 8,450 — 8,450 Other assets 13,659 — 13,659 Total identifiable assets acquired $ 84,049 $ 430 $ 84,479 Liabilities assumed: Accounts payable $ (1,260) $ — $ (1,260) Wire transfers and money orders payable (35,595) — (35,595) Accrued and other liabilities (3,651) 366 (3,285) Lease liabilities (13,067) — (13,067) Deferred tax liability (2,969) 700 (2,269) Total liabilities assumed $ (56,542) $ 1,066 $ (55,476) Net identifiable assets acquired $ 27,507 $ 1,496 $ 29,003 Consideration transferred $ 41,021 $ — $ 41,021 Goodwill $ 13,514 $ (1,496) $ 12,018 Restructuring costs During the third quarter of 2023, the Company implemented a Restructuring Plan (the "Plan") for La Nacional. The objectives were to reorganize the workforce, streamline operational processes as well as develop efficiencies within the Company. The Plan contemplated a reduction of La Nacional's workforce due to closing of operations, and surrendering of money transmitter licenses in certain states, termination of selected sending agents, centralization of functions at the consolidated Company level and closing of certain facilities. For the three months ended September 30, 2023, the Company incurred $1.1 million in expenses related to the Plan. These expenses include approximately $0.8 million in severance payments and related benefits included in salaries and benefits in the condensed consolidated statement of income and comprehensive income, $0.3 million in computer equipment write-offs, $38 thousand for the early termination of a lease agreement and $31 thousand in legal fees related to the surrender of money transmitter licenses within states where La Nacional will no longer operate, which are included in other selling, general and administrative expenses in the condensed consolidated statement of income and comprehensive income. The Company has paid out the above charges during the three months ended September 30, 2023 and does not have a liability recorded as of September 30, 2023. LAN Holdings, Corp. On April 5, 2023, the Company completed the acquisition of 100% of the voting interest of LAN Holdings. LAN Holdings provides the Company the opportunity to enter into markets in which it did not have a presence previously, such as the ability to provide outbound remittance services from Spain, Italy, and Germany. The total consideration transferred by the Company in connection with the LAN Acquisition was $13.4 million, which included $10.3 million in cash, subject to customary purchase price adjustments. The Company will also pay an additional $0.6 million in cash as a result of LAN Holdings’ achievement of certain operational milestones during 2023, which the parties have agreed have been achieved; accordingly, the earn-out will be paid under the terms of the definitive purchase agreement. Prior to the acquisition, the Company maintained a receivable balance of approximately $2.5 million related to money transfers paid by the Company on behalf of LAN Holdings. Upon the closing of the LAN Acquisition, the receivable balance was effectively settled and, therefore, included in the determination of the total consideration transferred. The LAN Acquisition was funded with cash on hand. The following table summarizes the fair values of consideration transferred and identifiable net assets acquired in the LAN Acquisition on April 5, 2023, the measurement period adjustments in the nine months ended September 30, 2023 and the fair values of consideration transferred and identifiable net assets acquired as of September 30, 2023. April 5, 2023 Measurement Period Adjustments September 30, 2023 Assets acquired: Cash and cash equivalents 4,721 — 4,721 Accounts receivable 3,643 — 3,643 Prepaid wires 4,613 — 4,613 Prepaid expenses and other current assets 353 — 353 Property and equipment 351 — 351 Intangible assets 3,200 — 3,200 Other assets 877 — 877 Total identifiable assets acquired 17,758 — 17,758 Liabilities assumed: Accounts payable (1,010) — (1,010) Wire transfers and money orders payable (6,645) — (6,645) Accrued and other liabilities (747) (689) (1,436) Lease liabilities (758) — (758) Deferred tax liability (91) — (91) Total liabilities assumed (9,251) (689) (9,940) Net identifiable assets acquired 8,507 (689) 7,818 Consideration transferred 13,354 — 13,354 Goodwill 4,847 689 5,536 The goodwill balance for the LAN Acquisition represents the estimated values of the Company’s geographic presence in key markets, assembled workforce, management team’s industry-specific knowledge and synergies expected to be achieved from the combined operations of LAN Holdings and the Company. Goodwill resulting from the LAN Acquisition is not deductible for tax purposes. Amortizing intangible assets related to the LAN Acquisition are primarily composed of agent relationships, a trade name and non-competition agreements, which had weighted average lives of approximately 15 years, 10 years and 5 years, respectively, and are based on LAN Holdings’ operational history and established relationships with, and the nature of, its customers. The weighted average life of amortizing intangible assets for LAN Acquisition was 14.95 years in the aggregate. These intangible assets are amortized utilizing an accelerated method over their estimated useful lives, which is a manner consistent with the pattern in which the related benefits are expected to be consumed. The acquisition date fair value of the agent relationships, trade name and non-competition agreement intangibles was $2.9 million, $0.3 million and $10.0 thousand, respectively. The agent relationships intangible represents the network of independent sending agents. This intangible was valued using the excess earnings method, which was based on the Company’s forecasts and historical activity at agent locations in order to develop a turnover rate and expected economic useful life. Assuming a year-over-year location turnover rate of 20.0%, this resulted in an expected useful life for this intangible of 15 years. Trade name refers to the I-Transfer name, branded on all agent locations and recognized in the market. This fair value was determined using the relief-from-royalty method, which is based on the Company’s expected revenues and a royalty rate estimated using comparable market data. The Company determined it was appropriate to assign a finite useful life of 10 years to the trade name to provide better matching of the amortization expense during the period of expected benefits. The definitive purchase agreement to acquire La Nacional and LAN Holdings entered into by the Company includes non-competition provisions agreed to by the former owner and two key members of management of La Nacional. The fair value of these intangibles was valued using the “with and without” method, which estimated the value of an asset based on the difference in the value of the business’s cash flows “with” and “without” that asset. The Company assigned useful lives of up to 5 years for these intangibles, which matches the contractual term of the non-competition agreements. The LAN Holdings results of operations have been included in the Company's results of operations from the date of its acquisition. The Company’s condensed consolidated statement of income and comprehensive income includes $6.1 million and $0.1 million of revenue and net loss for the three months ended September 30, 2023, and $10.9 million and $0.1 million of revenue and net loss for the nine months ended September 30, 2023, respectively, from LAN Holdings. Transaction Costs Transaction costs include all internal and external costs directly related to the Company’s acquisition activity, consisting primarily of legal, consulting, accounting and financial advisory fees. Transaction costs for the three and nine months ended September 30, 2023 amounted to $13.0 thousand and $0.4 million, respectively, and are included in other selling, general and administrative expenses on the condensed consolidated statement of income and comprehensive income. Transaction costs for the three and nine months ended September 30, 2022 amounted to $0.3 million and $0.5 million respectively. Supplemental Pro Forma Financial Information For the three and nine months ended September 30, 2023 and 2022, unaudited supplemental pro forma revenue and net income is shown below. Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Total revenues $ 172,437 $ 144,463 $ 492,379 $ 403,453 Net income $ 14,980 $ 16,690 $ 42,357 $ 44,455 These unaudited pro forma financial results include the results of operations of LAN Holdings as if it had been consolidated as of January 1, 2022, the beginning of the year prior to its acquisition, and are provided for illustrative purposes only. These unaudited pro forma financial results do not purport to be indicative of the actual results that would have been achieved by the combined companies for the periods indicated, or of the results that may be achieved by the combined companies in the future. The Company’s unaudited pro forma financial results were prepared by adding the unaudited historical results of the acquired business to the historical results of the Company, and then adjusting those combined results for transaction costs of $13.0 thousand and $0.4 million for the three and nine months ended September 30, 2023, respectively, and the incremental depreciation and amortization expense related to the property and equipment and intangible assets acquired. Transaction costs were included in the pro forma results for the three and nine months ended September 30, 2022 but removed from the pro forma results for the three and nine months ended September 30, 2023. These unaudited pro forma financial results do not include adjustments to reflect other cost savings or synergies that may have resulted from this acquisition. Future results may vary significantly due to future events and other factors, many of which are beyond the Company’s control.

REVENUES

REVENUES	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
REVENUES	REVENUES The Company recognized revenues from contracts with customers for the three and nine months ended September 30, 2023 and 2022, as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Wire transfer and money order fees $ 148,157 $ 121,218 $ 418,416 $ 337,757 Discounts and promotions (770) (500) (2,061) (1,417) Wire transfer and money order fees, net 147,387 120,718 416,355 336,340 Foreign exchange gain, net 22,688 18,851 64,239 52,719 Other income 2,362 1,198 6,358 3,309 Total revenues $ 172,437 $ 140,767 $ 486,952 $ 392,368 There are no significant initial costs incurred to obtain contracts with customers, although the Company has a loyalty program under which customers in the United States 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 9) 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 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 through its sending agents, 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 transaction 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. Wire transfers and money order fees include money order fees of $0.5 million and $0.4 million for the three months ended September 30, 2023 and 2022, respectively, and $1.7 million and $1.2 million for the nine months ended September 30, 2023 and 2022, respectively.

ACCOUNTS RECEIVABLE AND AGENT A

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE	ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE Accounts Receivable Accounts receivable represents primarily outstanding balances from sending agents for pending wire transfers or money orders from consumers. The outstanding balance of accounts receivable, net of allowance for credit losses, consists of the following (in thousands): September 30, 2023 December 31, 2022 Accounts receivable $ 165,645 $ 132,363 Allowance for credit losses (2,638) (2,555) Accounts receivable, net $ 163,007 $ 129,808 Agent Advances Receivable Agent advances receivable, net of allowance for credit losses, from sending agents is as follows (in thousands): September 30, 2023 December 31, 2022 Agent advances receivable, current $ 1,730 $ 1,373 Allowance for credit losses (92) (62) Net current $ 1,638 $ 1,311 Agent advances receivable, long-term $ 2,640 $ 1,423 Allowance for credit losses (101) (31) Net long-term $ 2,539 $ 1,392 The net current portion of agent advances receivable is included in prepaid expenses and other current assets, and the net long-term portion is included in other assets in the condensed consolidated balance sheets (see Note 5). Some agent advances receivable have interest rates ranging from 0% to 10.0% per annum. The Company had an immaterial amount of accrued interest receivable as of September 30, 2023 and December 31, 2022, which was included in the allowance for credit losses calculation. At September 30, 2023 and December 31, 2022, there were $4.4 million and $2.8 million, respectively, of agent advances receivable collateralized by personal guarantees from sending agents and assets from their businesses in case of a default by the agent. The maturities of agent advances receivable at September 30, 2023 are as follows (in thousands): Unpaid Advance Balance Under 1 year $ 1,730 Between 1 and 2 years 2,105 More than 2 years 535 Total $ 4,370 Allowance for Credit Losses The changes in the allowance for credit losses related to accounts receivable and agent advances receivable are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Beginning balance $ 2,690 $ 2,442 $ 2,648 $ 2,249 Provision 1,830 525 3,770 2,022 Charge-offs (1,760) (700) (4,194) (2,202) Recoveries 190 117 726 315 Other (119) — (119) — Ending Balance $ 2,831 $ 2,384 $ 2,831 $ 2,384 The allowance for credit losses allocated by financial instrument category is as follows (in thousands): September 30, 2023 December 31, 2022 Accounts receivable $ 2,638 $ 2,555 Agent advances receivable 193 93 Allowance for credit losses $ 2,831 $ 2,648

PREPAID EXPENSES AND OTHER ASSE

PREPAID EXPENSES AND OTHER ASSETS	9 Months Ended
	Sep. 30, 2023
Prepaid Expense and Other Assets [Abstract]
PREPAID EXPENSES AND OTHER ASSETS	PREPAID EXPENSES AND OTHER ASSETS Prepaid expenses and other current assets consisted of the following (in thousands): September 30, 2023 December 31, 2022 Prepaid insurance $ 1,421 $ 1,578 Prepaid fees and services 1,879 1,986 Agent incentives advances 1,307 1,014 Agent advances receivable, net of allowance 1,638 1,311 Tenant allowance 2,815 3,753 Prepaid income taxes 2,618 2,130 Prepaid expenses and current assets - other 1,052 977 $ 12,730 $ 12,749 Other assets consisted of the following (in thousands): September 30, 2023 December 31, 2022 Revolving line origination fees $ 1,820 $ 1,578 Agent incentives advances 2,585 1,062 Agent advances receivable, net of allowance 2,539 1,392 Right-of-use assets, net 23,222 24,768 Funds held by seized banking entities, net of allowance 1,833 1,646 Other assets 3,122 1,430 $ 35,121 $ 31,876 Prior to 2022, local banking regulators in Mexico resolved to close and liquidate a local financial institution, citing a lack of compliance with minimum capital requirements. The Company has approximately $5.2 million of exposure from deposits it held with this bank when it was closed. In accordance with the banking regulations in Mexico, large depositors such as the Company will be paid once the assets of the financial institution are liquidated. Currently, it is difficult to predict the length of the liquidation process or if the proceeds from the asset liquidation will be sufficient to recover any of the Company's funds on deposit. The Company maintains a valuation allowance of approximately $3.6 million in connection with the balance of deposits held by the financial institution as a result of its closure.

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS	9 Months Ended
	Sep. 30, 2023
Goodwill and Intangible Assets Disclosure [Abstract]
GOODWILL AND INTANGIBLE ASSETS	GOODWILL AND INTANGIBLE ASSETSGoodwill and the majority of intangible assets on the condensed consolidated balance sheets of the Company were recognized from business acquisitions. Intangible assets on the condensed consolidated balance sheets of the Company consist of agent relationships, trade names, developed technology and other intangible assets. Agent relationships, trade names and developed technology are amortized over their estimated useful lives of up to 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 names refers to the Intermex, La Nacional and I-Transfer names, branded on all applicable 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 relate to the acquisition of Company-operated stores, which are amortized on a straight line basis over 10 years, and non-competition agreements, which are amortized over the length of the agreement, typically 5 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 nine months ended September 30, 2023. The following table presents the changes in goodwill and intangible assets (in thousands): Goodwill Intangibles Balance at December 31, 2022 $ 49,774 $ 19,826 Measurement period adjustment (Refer to Note 2) (807) — Acquisition of LAN Holdings 4,847 3,200 Amortization expense — (3,668) Balance at September 30, 2023 $ 53,814 $ 19,358 Amortization expense related to intangible assets for the remainder of 2023 and thereafter is as follows (in thousands): 2023 $ 1,215 2024 3,965 2025 3,156 2026 2,521 2027 2,023 Thereafter 6,478 $ 19,358

LEASES

LEASES	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
LEASES	LEASES To conduct certain of our operations, the Company is a party to leases for office space, warehouses and Company-operated store locations. In December 2022, the Company entered into a lease agreement, which expires in 2033, for its new headquarters to accommodate its growing workforce. The Company expects to complete the move to the new headquarters at the end of 2023 following the completion of leasehold improvements. The new lease agreement provides for the Company to receive a tenant allowance amounting to approximately $3.8 million through the construction period and the Company will commence making monthly lease payments on November 1, 2024. Such tenant allowance has been recorded within prepaid expenses and other current assets in the condensed consolidated balance sheet. The presentation of right-of-use assets and lease liabilities in the condensed consolidated balance sheet is as follows (in thousands): Leases Classification September 30, 2023 December 31, 2022 Assets Right-of-use assets Other assets (1) $ 23,222 $ 24,768 Total leased assets $ 23,222 $ 24,768 Liabilities Current Operating Accrued and other liabilities $ 5,155 $ 5,258 Noncurrent Operating Lease liabilities 22,465 23,272 Total Lease liabilities $ 27,620 $ 28,530 (1) Operating right-of-use assets are recorded net of accumulated amortization of $8.9 million and $5.6 million as of September 30, 2023 and December 31, 2022, respectively. Lease expense for the three and nine months ended September 30, 2023 and 2022, was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Lease Cost Classification 2023 2022 2023 2022 Operating lease cost Other selling, general and administrative expenses $ 1,891 $ 632 $ 5,965 $ 1,631 As of September 30, 2023 and December 31, 2022 , the Company’s weighted-average remaining lease terms on its operating leases is 6.5 and 6.6 years, and the Company’s weighted-average discount rate is 5.95% and 5.67%, respectively, which is the Company’s incremental borrowing rate. The Company used its incremental borrowing rate for all leases, as none of the Company’s lease agreements provide a readily determinable implicit rate. Lease Payments Future minimum lease payments for assets under non-cancelable operating lease agreements with original terms of more than one year for the remainder of 2023 and thereafter are as follows (in thousands): 2023 $ 1,565 2024 5,892 2025 6,327 2026 4,933 2027 3,610 Thereafter 14,977 Total lease payments 37,304 Less: Imputed interest (9,684) Present value of lease liabilities $ 27,620

WIRE TRANSFERS AND MONEY ORDERS

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET	9 Months Ended
	Sep. 30, 2023
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): September 30, 2023 December 31, 2022 Wire transfers payable, net $ 99,706 $ 55,572 Customer voided wires payable 29,575 27,236 Money orders payable 30,577 29,443 $ 159,858 $ 112,251 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

ACCRUED AND OTHER LIABILITIES

ACCRUED AND OTHER LIABILITIES	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
ACCRUED AND OTHER LIABILITIES	ACCRUED AND OTHER LIABILITIES Accrued and other liabilities consisted of the following (in thousands): September 30, 2023 December 31, 2022 Commissions payable to sending agents $ 19,981 $ 19,141 Accrued salaries and benefits 4,157 5,578 Accrued bank charges 1,350 1,644 Accrued other professional fees 1,606 1,169 Accrued taxes 2,038 1,329 Lease liabilities, current portion 5,155 5,258 Contingent consideration liability 1,800 1,321 Deferred revenue loyalty program 4,667 4,212 Other 3,516 2,203 $ 44,270 $ 41,855 The following table shows the changes in the deferred revenue loyalty program liability (in thousands): Balance, December 31, 2022 $ 4,212 Revenue deferred during the period 2,391 Revenue recognized during the period (1,936) Balance, September 30, 2023 $ 4,667

DEBT

DEBT	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
DEBT	DEBT Debt consisted of the following (in thousands): September 30, 2023 December 31, 2022 Revolving credit facility $ 124,000 $ 76,000 Term loan facility 77,109 80,938 201,109 156,938 Less: Current portion of long-term debt (1) (6,616) (4,975) Less: Debt origination costs (1,356) (1,728) $ 193,137 $ 150,235 (1) Current portion of long-term debt is net of debt origination costs of approximately $0.5 million both at September 30, 2023 and December 31, 2022, 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 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 Company’s previous credit agreement. The A&R Credit Agreement provided for a $150.0 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 $70.0 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 existing term loan facility under the Company’s previous 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. On November 11, 2022, the Loan Parties entered into a First Amendment Agreement (the “First Amendment”) to the A&R Credit Agreement. The Amendment replaces LIBOR as a benchmark interest rate for loans under the A&R Credit Agreement with the secured overnight financing rate as administered by the Federal Reserve Bank of New York (“SOFR”), and amends all applicable provisions of the A&R Credit Agreement with respect to such replacement of LIBOR as the benchmark interest rate. Except as amended by the First Amendment, the A&R Credit Agreement remains in full force and effect. Effective as of April 18, 2023, the Company amended its A&R Credit Agreement to increase the revolving credit commitments available thereunder from an aggregate of $150.0 million to $220.0 million. The credit commitments are available for general corporate purposes to support the Company’s growth and to fund working capital needs and will be subject to the same interest rate and other terms applicable to the outstanding revolving credit commitments under the A&R Credit Agreement. In addition, as amended, the A&R Credit Agreement provides the Company with a refreshed uncommitted incremental facility which may be utilized for new revolving credit facilities or term loans in an aggregate amount of up to $70.0 million. The amendment was accounted for as a debt modification. The balance of the unamortized debt origination costs in connection with the A&R Credit Agreement and the additional debt origination costs of approximately $0.7 million incurred in connection with this amendment 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 in connection with the amendment were expensed as incurred during the second quarter of 2023. The unamortized portion of debt origination costs totaled approximately $3.2 million and $3.3 million at September 30, 2023 and December 31, 2022, respectively. Amortization of debt origination costs is included as a component of interest expense in the condensed consolidated statements of income and comprehensive income and amounted to approximately $0.3 million and $0.2 million for the three months ended September 30, 2023 and 2022, and $0.8 million for both the nine months ended September 30, 2023 and 2022, respectively. At the election of the Company, interest on the term loan facility and revolving loans under the A&R Credit Agreement, as amended, may be determined by reference to SOFR plus an index adjustment of 0.10% and an applicable margin ranging between 2.50% and 3.00% based upon the Company’s consolidated leverage ratio, as calculated pursuant to the terms of the A&R Credit Agreement. Loans (other than Term Loans, as defined in the A&R Credit Agreement), may also bear interest at the Base Rate, plus an applicable margin ranging between 1.50% and 2.00% based upon the Company’s consolidated leverage ratio, as so calculated. 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 nine months ended September 30, 2023 for the term loan facility and revolving credit facility were 8.21% and 1.90%, respectively, and 4.18% and 0.80% for the nine months ended September 30, 2022, respectively. Interest is payable (x)(i) generally on the last day of each interest period selected for SOFR 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, which commenced 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, as amended, 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 and generally restricts the ability of the Company to make certain restricted payments, including the repurchase of shares of its common stock, provided that the Company may make restricted payments, among others, (i) without limitation so long as the Consolidated Leverage Ratio (as defined in the A&R Credit Agreement), as of the then most recently completed four fiscal quarters of the Company, after giving pro forma effect to such restricted payments, is 2.25:1.00 or less, (ii) that do not exceed, in the aggregate during any fiscal year, the greater of (x) $23.8 million and (y) 25.00% of Consolidated EBITDA (as defined in the A&R Credit Agreement) for the then most recently completed four fiscal quarters of the Company and (iii) to repurchase Company common stock from current or former employees in an aggregate amount of up to $10.0 million per calendar year. 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. 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	9 Months Ended
	Sep. 30, 2023
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 intangible 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 and cash equivalents balances are representative of their fair values as these balances are comprised of deposits available on demand or overnight. 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	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
SHARE-BASED COMPENSATION	SHARE-BASED COMPENSATION International Money Express, Inc. Omnibus Equity Compensation Plans The International Money Express, Inc. 2020 Omnibus Equity Compensation Plan (the “2020 Plan”) 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, service providers and independent directors of the Company. There are 3.7 million shares of the Company’s common stock approved for issuance under the 2020 Plan, which includes 0.4 million shares that were previously subject to awards granted under the International Money Express, Inc. 2018 Omnibus Equity Compensation Plan (the “2018 Plan” and together with the 2020 Plan, the “Plans”). Although awards remain outstanding under the 2018 Plan, which was terminated effective June 26, 2020, no additional awards may be granted under the 2018 Plan. As of September 30, 2023, 2.1 million shares remained available for future awards under the 2020 Plan. Stock Options 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 $0.1 million and $0.1 million for the three months ended September 30, 2023 and 2022, respectively, and $0.4 million and $1.2 million for the nine months ended September 30, 2023 and 2022, respectively, which are included in salaries and benefits in the condensed consolidated statements of income and comprehensive income. As of September 30, 2023, unrecognized compensation expense related to stock options of approximately $0.2 million is expected to be recognized over a weighted-average period of 0.8 years. A summary of stock option activity under the Plans during the nine months ended September 30, 2023 is presented below: Number of Weighted-Average Weighted-Average Weighted-Average Outstanding at December 31, 2022 711,050 $ 11.56 6.26 $ 4.28 Granted — $ — $ — Exercised (78,500) $ 12.18 $ 5.03 Forfeited (11,250) $ 14.07 $ 6.54 Outstanding at September 30, 2023 621,300 $ 11.43 5.45 $ 4.15 Exercisable at September 30, 2023 575,050 $ 11.30 5.36 $ 4.03 Restricted Stock Units The RSUs granted under the Plans to the Company’s employees or service providers generally vest in four equal annual installments beginning one year after the date set forth in the applicable grant agreement, 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 $0.8 million and $0.5 million for the three months ended September 30, 2023 and 2022, respectively, and $2.1 million and $1.3 million for the nine months ended September 30, 2023 and 2022, respectively, which are included in salaries and benefits in the condensed consolidated statements of income and comprehensive income. As of September 30, 2023, unrecognized compensation expense related to RSUs of approximately $6.1 million is expected to be recognized over a weighted-average period of 1.9 years. A summary of RSU activity during the nine months ended September 30, 2023 is presented below: Number of RSUs Weighted-Average Outstanding (nonvested) at December 31, 2022 316,902 $ 16.58 Granted (1) 202,208 $ 24.75 Vested (119,750) $ 17.52 Forfeited (39,532) $ 19.65 Outstanding (nonvested) at September 30, 2023 359,828 $ 20.53 (1) The aggregate fair value of all RSUs granted during the nine months ended September 30, 2023 was approximately $5.0 million. Share Awards The Lead Independent Director and Chairs of the Committees of the Board of Directors are granted, in aggregate, $80.5 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 nine months ended September 30, 2023, 821 and 2,428 fully vested shares, respectively, were granted to the Lead Independent Director and Chairs of the Committees of the Board of Directors. The Company recognized compensation expense for the share awards of $20.1 thousand for both the three months ended September 30, 2023 and 2022, respectively, and $60.4 thousand and $52.1 thousand for the nine months ended September 30, 2023 and 2022, respectively, which are recorded and included in salaries and benefits in the condensed consolidated statements of income 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 set forth in the applicable grant agreement. The Company recognized compensation expense for RSAs granted of $0.3 million and $0.2 million for the three months ended September 30, 2023 and 2022, respectively, and $0.9 million and $0.5 million for the nine months ended September 30, 2023 and 2022, respectively, which are included in salaries and benefits in the condensed consolidated statements of income and comprehensive income. As of September 30, 2023, there was $3.1 million of unrecognized compensation expense related to RSAs, which is expected to be recognized over a weighted-average period of 1.9 years. A summary of RSA activity during the nine months ended September 30, 2023 is presented below: Number of RSAs Weighted-Average Outstanding (nonvested) at December 31, 2022 159,562 $ 15.28 Granted (1) 80,402 $ 25.68 Vested (47,984) $ 15.68 Forfeited — $ — Outstanding (nonvested) at September 30, 2023 191,980 $ 19.53 (1) The aggregate fair value of all RSAs granted during the nine months ended September 30, 2023 was approximately $2.1 million. 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 or adjusted earnings per share parameters for a period of up to three 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. During the third quarter of 2022, the Company reassessed the probability of vesting for PSU awards and determined that it was probable that a higher performance target will be achieved. Therefore, the Company recognized a cumulative catch-up adjustment of approximately $1.1 million as additional compensation expense for the three months ended September 30, 2022 (none in 2023). On February 28, 2023, the Compensation Committee determined that the higher performance target was achieved and approved the incremental grant of PSUs. The Company recognized compensation expense for PSUs of $1.0 million and $1.8 million for the three months ended September 30, 2023 and 2022, respectively, and $2.8 million and $2.5 million for the nine months ended September 30, 2023 and 2022, respectively, which are included in salaries and benefits in the condensed consolidated statements of income and comprehensive income. As of September 30, 2023, there was $4.7 million of unrecognized compensation expense related to PSUs, which is expected to be recognized over a weighted-average period of 1.8 years. A summary of PSU activity during the nine months ended September 30, 2023 is presented below: Number of PSUs Weighted-Average Weighted-Average Outstanding (nonvested) at December 31, 2022 300,871 8.63 $ 17.30 Granted (1) 318,386 $ 19.49 Vested — $ — Forfeited — $ — Outstanding (nonvested) at September 30, 2023 619,257 8.12 $ 18.43 (1) The aggregate fair value of all PSUs granted during the nine months ended September 30, 2023 was approximately $6.2 million.

EQUITY

EQUITY	9 Months Ended
	Sep. 30, 2023
Equity [Abstract]
EQUITY	EQUITY Prior to 2022, the Company’s Board of Directors approved a stock repurchase program (the “Repurchase Program”) that authorizes the Company to purchase up to $40.0 million of outstanding shares of the Company’s common stock. On March 3, 2023, the Board of Directors approved an increase to the Repurchase Program that authorizes the Company to purchase an additional $100.0 million of its outstanding shares. Under the Repurchase Program, the Company is authorized to repurchase shares from time to time in accordance with applicable laws, both on the open market and in privately negotiated transactions and may include the use of derivative contracts or structured share repurchase agreements. The timing and amount of repurchases depends on several factors, including market and business conditions, the trading price of the Company’s common stock and the nature of other investment opportunities. The Repurchase Program may be limited, suspended or discontinued at any time without prior notice. The Repurchase Program does not have an expiration date. The A&R Credit Agreement, as amended, permits the Company to make restricted payments (including share repurchases, among others), (i) without limitation so long as the Consolidated Leverage Ratio (as defined in the A&R Credit Agreement, as amended), as of the then most recently completed four fiscal quarters of the Company, after giving pro forma effect to such restricted payments, is 2.25:1.00 or less, (ii) that do not exceed, in the aggregate during any fiscal year, the greater of (x) $23.8 million and (y) 25.00% of Consolidated EBITDA (as defined in the A&R Credit Agreement) for the then most recently completed four fiscal quarters of the Company and (iii) to repurchase Company common stock from current or former employees in an aggregate amount of up to $10.0 million per calendar year. The Company accounts for purchases of treasury stock under the cost method. Any direct costs incurred to acquire treasury stock are considered stock issue costs and added to the cost of the treasury stock. During the three and nine months ended September 30, 2023, the Company purchased 501,900 shares and 1,734,481 shares for an aggregate purchase price of $10.1 million and $40.6 million, respectively. During the three and nine months ended September 30, 2022, the Company purchased 1,287,714 shares and 2,015,615 shares for an aggregate purchase price of $30.1 million and $43.7 million, respectively. As of September 30, 2023, there was $80.7 million available for future share repurchases under the Repurchase Program.

EARNINGS PER SHARE

EARNINGS PER SHARE	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
EARNINGS PER SHARE	EARNINGS PER SHAREBasic earnings per share is calculated by dividing net income for the period 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. Shares of treasury stock are not considered outstanding and therefore are excluded from the weighted-average number of common shares outstanding calculation. Below are basic and diluted earnings per share for the periods indicated (in thousands, except for share data): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net income for basic and diluted earnings per common share $ 14,832 $ 16,626 $ 42,016 $ 44,264 Shares: Weighted-average common shares outstanding – basic 35,320,809 37,390,632 35,930,234 37,999,709 Effect of dilutive securities: RSUs 81,436 136,602 114,702 103,526 Stock options 259,121 559,556 308,061 607,535 RSAs 48,898 270,203 57,383 149,888 PSUs 371,899 68,875 357,300 46,625 Weighted-average common shares outstanding – diluted 36,082,163 38,425,868 36,767,680 38,907,283 Earnings per common share – basic $ 0.42 $ 0.44 $ 1.17 $ 1.16 Earnings per common share – diluted $ 0.41 $ 0.43 $ 1.14 $ 1.14 As of September 30, 2023, there were 146.9 thousand PSUs, 131.8 thousand RSUs and 58.4 thousand RSAs excluded from the diluted earnings per share calculation because, under the treasury stock method, the inclusion of these would be anti-dilutive. As of September 30, 2022, there were 12.5 thousand stock options and 15.1 thousand RSUs excluded from the diluted earnings per share calculation because, under the treasury stock method, the inclusion of these would be anti-dilutive. As discussed in Note 13, the Company repurchased 501,900 shares and 1,734,481 shares of its common stock in the three and nine months ended September 30, 2023, respectively. The effect of these repurchases on the Company’s weighted-average shares outstanding for the three and nine months ended September 30, 2023 was a reduction of 1,475,495 shares and 805,307 shares, respectively, due to the timing of the repurchases.

INCOME TAXES

INCOME TAXES	9 Months Ended
	Sep. 30, 2023
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 income and comprehensive income is below (in thousands, except for tax rates): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Income before income taxes $ 21,451 $ 19,280 $ 60,190 $ 57,534 U.S statutory tax rate 21 % 21 % 21 % 21 % Income tax expense at statutory rate 4,505 4,049 12,640 12,082 State tax expense, net of federal benefit 1,599 1,199 4,654 3,552 Foreign tax rates different from U.S. statutory rate 201 38 244 83 Non-deductible expenses 347 236 855 592 Stock compensation (38) (2,890) (312) (2,952) Other 5 22 93 (87) Total income tax provision $ 6,619 $ 2,654 $ 18,174 $ 13,270 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. Our income tax provision includes the expected benefit of all deferred tax assets, including our net operating loss carryforwards. With few exceptions, our U.S federal and state net operating loss carryforwards will expire from 2039 through 2042 and our foreign net operating losses will not expire. After consideration of all evidence, both positive and negative, management has determined that no valuation allowance is required at September 30, 2023 on the Company’s U.S. federal or state deferred tax assets; however, a valuation allowance has been recorded at September 30, 2023 on deferred tax assets associated with Canadian, Spanish, Italian, German and Dutch net operating loss carryforwards. Utilization of the Company's net operating loss carryforwards is subject to limitation under Internal Revenue Code Section 382 and similar tax provisions in the foreign jurisdictions in which we operate. As presented in the income tax reconciliation above, the tax provision recognized on the condensed consolidated statements of income and comprehensive income was impacted by state taxes, non-deductible officer compensation and share-based compensation tax benefits, and foreign tax rates applicable to the Company’s foreign subsidiaries that are higher or lower than the U.S. statutory rate. Our effective state tax rate for the three and nine months ended September 30, 2023 was higher than our effective state tax rate for the three and nine ended September 30, 2022. The increase in our effective state tax rate is primarily a result of revenue from La Nacional earned during the three and nine months ended September 30, 2023 which is sourced to states with relatively higher tax rates and from increases in non-deductible officer expenses.

COMMITMENTS AND CONTINGENCIES

COMMITMENTS AND CONTINGENCIES	9 Months Ended
	Sep. 30, 2023
Commitments and Contingencies Disclosure [Abstract]
COMMITMENTS AND CONTINGENCIES	COMMITMENTS AND CONTINGENCIES Leases In the ordinary course of business, the Company enters into leases for office space, warehouses and certain Company-operated store locations. Refer to Note 7 - Leases. 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 seven 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 (permissible investments) to cover the amount outstanding of wire transfers and money orders payable. As of September 30, 2023, the Company’s subsidiaries were in compliance with these requirements.

Pay vs Performance Disclosure

Pay vs Performance Disclosure - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Pay vs Performance Disclosure
Net income	$ 14,832	$ 16,626	$ 42,016	$ 44,264

Insider Trading Arrangements

Insider Trading Arrangements	3 Months Ended
	Sep. 30, 2023
Trading Arrangements, by Individual
Rule 10b5-1 Arrangement Adopted	false
Non-Rule 10b5-1 Arrangement Adopted	false
Rule 10b5-1 Arrangement Terminated	false
Non-Rule 10b5-1 Arrangement Terminated	false

BUSINESS AND ACCOUNTING POLIC_2

BUSINESS AND ACCOUNTING POLICIES (Policies)	9 Months Ended
	Sep. 30, 2023
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, 2022.
Concentrations	ConcentrationsThe Company maintains certain of its cash balances in various U.S. banks, which at times, may exceed federally insured limits. The Company has not incurred any losses on these accounts. In addition, the Company maintains various bank accounts in Mexico, Guatemala, Canada and certain countries in Europe, which may not be fully insured.
Accounting Pronouncements	Accounting PronouncementsThe FASB issued guidance, ASU 2021-08, Business Combinations (Topic 805): Accounting for Contract Assets and Contract Liabilities from Contracts with Customers, which requires entities to apply Topic 606: Revenue from Contracts with Customers to recognize and measure contract assets and contract liabilities in a business combination. This guidance improves comparability after the business combination by providing consistent recognition and measurement guidance for revenue contracts with customers acquired in a business combination and revenue contracts with customers not acquired in a business combination. The Company adopted this guidance on January 1, 2023 prospectively for business combinations that occur after the adoption date. The adoption of this accounting standard did not have a material impact on the Company’s condensed consolidated financial statements.
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 intangible 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 and cash equivalents balances are representative of their fair values as these balances are comprised of deposits available on demand or overnight. 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.

ACQUISITIONS (Tables)

ACQUISITIONS (Tables)	9 Months Ended
	Sep. 30, 2023
Business Combination and Asset Acquisition [Abstract]
Summary of Estimated Fair Values of Consideration Paid and Net Assets Acquired	The following table summarizes the fair values of consideration transferred and identifiable net assets acquired in the La Nacional Acquisition on November 1, 2022, the measurement period adjustments in the nine months ended September 30, 2023 and the fair values of consideration transferred and identifiable net assets acquired as of September 30, 2023. November 1, 2022 Measurement Period Adjustments September 30, 2023 Assets acquired: Cash and cash equivalents $ 39,569 $ — $ 39,569 Accounts receivable 16,504 — 16,504 Prepaid wires 571 — 571 Prepaid expenses and other current assets 1,219 430 1,649 Property and equipment 4,077 — 4,077 Intangible assets 8,450 — 8,450 Other assets 13,659 — 13,659 Total identifiable assets acquired $ 84,049 $ 430 $ 84,479 Liabilities assumed: Accounts payable $ (1,260) $ — $ (1,260) Wire transfers and money orders payable (35,595) — (35,595) Accrued and other liabilities (3,651) 366 (3,285) Lease liabilities (13,067) — (13,067) Deferred tax liability (2,969) 700 (2,269) Total liabilities assumed $ (56,542) $ 1,066 $ (55,476) Net identifiable assets acquired $ 27,507 $ 1,496 $ 29,003 Consideration transferred $ 41,021 $ — $ 41,021 Goodwill $ 13,514 $ (1,496) $ 12,018 The following table summarizes the fair values of consideration transferred and identifiable net assets acquired in the LAN Acquisition on April 5, 2023, the measurement period adjustments in the nine months ended September 30, 2023 and the fair values of consideration transferred and identifiable net assets acquired as of September 30, 2023. April 5, 2023 Measurement Period Adjustments September 30, 2023 Assets acquired: Cash and cash equivalents 4,721 — 4,721 Accounts receivable 3,643 — 3,643 Prepaid wires 4,613 — 4,613 Prepaid expenses and other current assets 353 — 353 Property and equipment 351 — 351 Intangible assets 3,200 — 3,200 Other assets 877 — 877 Total identifiable assets acquired 17,758 — 17,758 Liabilities assumed: Accounts payable (1,010) — (1,010) Wire transfers and money orders payable (6,645) — (6,645) Accrued and other liabilities (747) (689) (1,436) Lease liabilities (758) — (758) Deferred tax liability (91) — (91) Total liabilities assumed (9,251) (689) (9,940) Net identifiable assets acquired 8,507 (689) 7,818 Consideration transferred 13,354 — 13,354 Goodwill 4,847 689 5,536
Pro Forma Revenue and Net Income	For the three and nine months ended September 30, 2023 and 2022, unaudited supplemental pro forma revenue and net income is shown below. Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Total revenues $ 172,437 $ 144,463 $ 492,379 $ 403,453 Net income $ 14,980 $ 16,690 $ 42,357 $ 44,455

REVENUES (Tables)

REVENUES (Tables)	9 Months Ended
	Sep. 30, 2023
Revenue from Contract with Customer [Abstract]
Revenues from Contracts with Customers	The Company recognized revenues from contracts with customers for the three and nine months ended September 30, 2023 and 2022, as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Wire transfer and money order fees $ 148,157 $ 121,218 $ 418,416 $ 337,757 Discounts and promotions (770) (500) (2,061) (1,417) Wire transfer and money order fees, net 147,387 120,718 416,355 336,340 Foreign exchange gain, net 22,688 18,851 64,239 52,719 Other income 2,362 1,198 6,358 3,309 Total revenues $ 172,437 $ 140,767 $ 486,952 $ 392,368

ACCOUNTS RECEIVABLE AND AGENT_2

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE (Tables)	9 Months Ended
	Sep. 30, 2023
Receivables [Abstract]
Summary of Accounts Receivable, Net and Agent Advances Receivable, Net	The outstanding balance of accounts receivable, net of allowance for credit losses, consists of the following (in thousands): September 30, 2023 December 31, 2022 Accounts receivable $ 165,645 $ 132,363 Allowance for credit losses (2,638) (2,555) Accounts receivable, net $ 163,007 $ 129,808 Agent advances receivable, net of allowance for credit losses, from sending agents is as follows (in thousands): September 30, 2023 December 31, 2022 Agent advances receivable, current $ 1,730 $ 1,373 Allowance for credit losses (92) (62) Net current $ 1,638 $ 1,311 Agent advances receivable, long-term $ 2,640 $ 1,423 Allowance for credit losses (101) (31) Net long-term $ 2,539 $ 1,392
Maturities of Agent Advances Receivable	The maturities of agent advances receivable at September 30, 2023 are as follows (in thousands): Unpaid Advance Balance Under 1 year $ 1,730 Between 1 and 2 years 2,105 More than 2 years 535 Total $ 4,370
Summary of Changes in Allowance for Credit Losses	The changes in the allowance for credit losses related to accounts receivable and agent advances receivable are as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Beginning balance $ 2,690 $ 2,442 $ 2,648 $ 2,249 Provision 1,830 525 3,770 2,022 Charge-offs (1,760) (700) (4,194) (2,202) Recoveries 190 117 726 315 Other (119) — (119) — Ending Balance $ 2,831 $ 2,384 $ 2,831 $ 2,384 The allowance for credit losses allocated by financial instrument category is as follows (in thousands): September 30, 2023 December 31, 2022 Accounts receivable $ 2,638 $ 2,555 Agent advances receivable 193 93 Allowance for credit losses $ 2,831 $ 2,648

PREPAID EXPENSES AND OTHER AS_2

PREPAID EXPENSES AND OTHER ASSETS (Tables)	9 Months Ended
	Sep. 30, 2023
Prepaid Expense and Other Assets [Abstract]
Prepaid Expenses and Other Current Assets	Prepaid expenses and other current assets consisted of the following (in thousands): September 30, 2023 December 31, 2022 Prepaid insurance $ 1,421 $ 1,578 Prepaid fees and services 1,879 1,986 Agent incentives advances 1,307 1,014 Agent advances receivable, net of allowance 1,638 1,311 Tenant allowance 2,815 3,753 Prepaid income taxes 2,618 2,130 Prepaid expenses and current assets - other 1,052 977 $ 12,730 $ 12,749
Schedule of Other Assets	Other assets consisted of the following (in thousands): September 30, 2023 December 31, 2022 Revolving line origination fees $ 1,820 $ 1,578 Agent incentives advances 2,585 1,062 Agent advances receivable, net of allowance 2,539 1,392 Right-of-use assets, net 23,222 24,768 Funds held by seized banking entities, net of allowance 1,833 1,646 Other assets 3,122 1,430 $ 35,121 $ 31,876

GOODWILL AND INTANGIBLE ASSETS

GOODWILL AND INTANGIBLE ASSETS (Tables)	9 Months Ended
	Sep. 30, 2023
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, 2022 $ 49,774 $ 19,826 Measurement period adjustment (Refer to Note 2) (807) — Acquisition of LAN Holdings 4,847 3,200 Amortization expense — (3,668) Balance at September 30, 2023 $ 53,814 $ 19,358
Amortization Expense Related to Intangible Assets	Amortization expense related to intangible assets for the remainder of 2023 and thereafter is as follows (in thousands): 2023 $ 1,215 2024 3,965 2025 3,156 2026 2,521 2027 2,023 Thereafter 6,478 $ 19,358

LEASES (Tables)

LEASES (Tables)	9 Months Ended
	Sep. 30, 2023
Leases [Abstract]
Presentation of Right-of-Use Assets and Lease Liabilities in the Condensed Consolidated Balance Sheet	The presentation of right-of-use assets and lease liabilities in the condensed consolidated balance sheet is as follows (in thousands): Leases Classification September 30, 2023 December 31, 2022 Assets Right-of-use assets Other assets (1) $ 23,222 $ 24,768 Total leased assets $ 23,222 $ 24,768 Liabilities Current Operating Accrued and other liabilities $ 5,155 $ 5,258 Noncurrent Operating Lease liabilities 22,465 23,272 Total Lease liabilities $ 27,620 $ 28,530 (1) Operating right-of-use assets are recorded net of accumulated amortization of $8.9 million and $5.6 million as of September 30, 2023 and December 31, 2022, respectively.
Lease Expense	Lease expense for the three and nine months ended September 30, 2023 and 2022, was as follows (in thousands): Three Months Ended September 30, Nine Months Ended September 30, Lease Cost Classification 2023 2022 2023 2022 Operating lease cost Other selling, general and administrative expenses $ 1,891 $ 632 $ 5,965 $ 1,631
Schedule of Future Minimum Lease Payments	Future minimum lease payments for assets under non-cancelable operating lease agreements with original terms of more than one year for the remainder of 2023 and thereafter are as follows (in thousands): 2023 $ 1,565 2024 5,892 2025 6,327 2026 4,933 2027 3,610 Thereafter 14,977 Total lease payments 37,304 Less: Imputed interest (9,684) Present value of lease liabilities $ 27,620

WIRE TRANSFERS AND MONEY ORDE_2

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET (Tables)	9 Months Ended
	Sep. 30, 2023
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): September 30, 2023 December 31, 2022 Wire transfers payable, net $ 99,706 $ 55,572 Customer voided wires payable 29,575 27,236 Money orders payable 30,577 29,443 $ 159,858 $ 112,251

ACCRUED AND OTHER LIABILITIES (

ACCRUED AND OTHER LIABILITIES (Tables)	9 Months Ended
	Sep. 30, 2023
Payables and Accruals [Abstract]
Accrued and Other Liabilities	Accrued and other liabilities consisted of the following (in thousands): September 30, 2023 December 31, 2022 Commissions payable to sending agents $ 19,981 $ 19,141 Accrued salaries and benefits 4,157 5,578 Accrued bank charges 1,350 1,644 Accrued other professional fees 1,606 1,169 Accrued taxes 2,038 1,329 Lease liabilities, current portion 5,155 5,258 Contingent consideration liability 1,800 1,321 Deferred revenue loyalty program 4,667 4,212 Other 3,516 2,203 $ 44,270 $ 41,855
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, 2022 $ 4,212 Revenue deferred during the period 2,391 Revenue recognized during the period (1,936) Balance, September 30, 2023 $ 4,667

DEBT (Tables)

DEBT (Tables)	9 Months Ended
	Sep. 30, 2023
Debt Disclosure [Abstract]
Schedule of Debt Instruments	Debt consisted of the following (in thousands): September 30, 2023 December 31, 2022 Revolving credit facility $ 124,000 $ 76,000 Term loan facility 77,109 80,938 201,109 156,938 Less: Current portion of long-term debt (1) (6,616) (4,975) Less: Debt origination costs (1,356) (1,728) $ 193,137 $ 150,235 (1) Current portion of long-term debt is net of debt origination costs of approximately $0.5 million both at September 30, 2023 and December 31, 2022, respectively.

SHARE-BASED COMPENSATION (Table

SHARE-BASED COMPENSATION (Tables)	9 Months Ended
	Sep. 30, 2023
Share-Based Payment Arrangement [Abstract]
Summary of Stock Option Activity	A summary of stock option activity under the Plans during the nine months ended September 30, 2023 is presented below: Number of Weighted-Average Weighted-Average Weighted-Average Outstanding at December 31, 2022 711,050 $ 11.56 6.26 $ 4.28 Granted — $ — $ — Exercised (78,500) $ 12.18 $ 5.03 Forfeited (11,250) $ 14.07 $ 6.54 Outstanding at September 30, 2023 621,300 $ 11.43 5.45 $ 4.15 Exercisable at September 30, 2023 575,050 $ 11.30 5.36 $ 4.03
Summary of RSU Activity	A summary of RSU activity during the nine months ended September 30, 2023 is presented below: Number of RSUs Weighted-Average Outstanding (nonvested) at December 31, 2022 316,902 $ 16.58 Granted (1) 202,208 $ 24.75 Vested (119,750) $ 17.52 Forfeited (39,532) $ 19.65 Outstanding (nonvested) at September 30, 2023 359,828 $ 20.53 (1) The aggregate fair value of all RSUs granted during the nine months ended September 30, 2023 was approximately $5.0 million.
Summary of RSA Activity	A summary of RSA activity during the nine months ended September 30, 2023 is presented below: Number of RSAs Weighted-Average Outstanding (nonvested) at December 31, 2022 159,562 $ 15.28 Granted (1) 80,402 $ 25.68 Vested (47,984) $ 15.68 Forfeited — $ — Outstanding (nonvested) at September 30, 2023 191,980 $ 19.53 (1) The aggregate fair value of all RSAs granted during the nine months ended September 30, 2023 was approximately $2.1 million.
Summary of PSU Activity	A summary of PSU activity during the nine months ended September 30, 2023 is presented below: Number of PSUs Weighted-Average Weighted-Average Outstanding (nonvested) at December 31, 2022 300,871 8.63 $ 17.30 Granted (1) 318,386 $ 19.49 Vested — $ — Forfeited — $ — Outstanding (nonvested) at September 30, 2023 619,257 8.12 $ 18.43 (1) The aggregate fair value of all PSUs granted during the nine months ended September 30, 2023 was approximately $6.2 million.

EARNINGS PER SHARE (Tables)

EARNINGS PER SHARE (Tables)	9 Months Ended
	Sep. 30, 2023
Earnings Per Share [Abstract]
Basic and Diluted Earnings Per Share	Below are basic and diluted earnings per share for the periods indicated (in thousands, except for share data): Three Months Ended September 30, Nine Months Ended September 30, 2023 2022 2023 2022 Net income for basic and diluted earnings per common share $ 14,832 $ 16,626 $ 42,016 $ 44,264 Shares: Weighted-average common shares outstanding – basic 35,320,809 37,390,632 35,930,234 37,999,709 Effect of dilutive securities: RSUs 81,436 136,602 114,702 103,526 Stock options 259,121 559,556 308,061 607,535 RSAs 48,898 270,203 57,383 149,888 PSUs 371,899 68,875 357,300 46,625 Weighted-average common shares outstanding – diluted 36,082,163 38,425,868 36,767,680 38,907,283 Earnings per common share – basic $ 0.42 $ 0.44 $ 1.17 $ 1.16 Earnings per common share – diluted $ 0.41 $ 0.43 $ 1.14 $ 1.14

INCOME TAXES (Tables)

INCOME TAXES (Tables)	9 Months Ended
	Sep. 30, 2023
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 income and comprehensive income is below (in thousands, except for tax rates): Three Months Ended Nine Months Ended 2023 2022 2023 2022 Income before income taxes $ 21,451 $ 19,280 $ 60,190 $ 57,534 U.S statutory tax rate 21 % 21 % 21 % 21 % Income tax expense at statutory rate 4,505 4,049 12,640 12,082 State tax expense, net of federal benefit 1,599 1,199 4,654 3,552 Foreign tax rates different from U.S. statutory rate 201 38 244 83 Non-deductible expenses 347 236 855 592 Stock compensation (38) (2,890) (312) (2,952) Other 5 22 93 (87) Total income tax provision $ 6,619 $ 2,654 $ 18,174 $ 13,270

BUSINESS AND ACCOUNTING POLIC_3

BUSINESS AND ACCOUNTING POLICIES (Details)	9 Months Ended
	Sep. 30, 2023 store
Accounting Policies [Abstract]
Number of company-operated stores	124

ACQUISITIONS - Narrative (Detai

ACQUISITIONS - Narrative (Details) - USD ($)				3 Months Ended		9 Months Ended
	Sep. 30, 2023	Apr. 05, 2023	Nov. 01, 2022	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Apr. 04, 2023	Dec. 31, 2022
Business Acquisition [Line Items]
Adjustment to fair value of contingent consideration						$ (121,000)	$ 0
Restructuring expenses paid				$ 1,100,000
Restructuring liability	$ 0			0		0
Receivable balance maintained	163,007,000			163,007,000		163,007,000			$ 129,808,000
Severance Payments and Related Benefits
Business Acquisition [Line Items]
Restructuring expenses paid				800,000
Equipment Write-offs
Business Acquisition [Line Items]
Restructuring expenses paid				300,000
Early Lease Termination
Business Acquisition [Line Items]
Restructuring expenses paid				38,000
Legal Fees
Business Acquisition [Line Items]
Restructuring expenses paid				31,000
LAN Holdings
Business Acquisition [Line Items]
Receivable balance maintained								$ 2,500,000
La Nacional
Business Acquisition [Line Items]
Percentage of outstanding common stock owned			100%
Cash consideration paid			$ 39,700,000
Contingent consideration liability (up to)			2,400,000
Fair value of contingent consideration	1,200,000			1,200,000		1,200,000			$ 1,300,000
Adjustment to fair value of contingent consideration				0		100,000
Consideration transferred	41,021,000		$ 41,021,000
LAN Holdings
Business Acquisition [Line Items]
Percentage of outstanding common stock owned		100%
Cash consideration paid		$ 10,300,000
Fair value of contingent consideration		600,000
Consideration transferred	$ 13,354,000	$ 13,354,000
Weighted average lives of intangible assets		14 years 11 months 12 days
Acquisition date fair value of intangibles						3,200,000
Pro forma revenue since acquisition date				6,100,000		10,900,000
Pro forma net loss since acquisition date				100,000		100,000
Transaction costs from acquisition				$ 13,000	$ 300,000	$ 400,000	$ 500,000
LAN Holdings | Agent Relationships
Business Acquisition [Line Items]
Weighted average lives of intangible assets		15 years
Acquisition date fair value of intangibles		$ 2,900,000
Location turnover rate		20%
LAN Holdings | Trade Name
Business Acquisition [Line Items]
Weighted average lives of intangible assets		10 years
Acquisition date fair value of intangibles		$ 300,000
LAN Holdings | Non-Competition Agreements
Business Acquisition [Line Items]
Weighted average lives of intangible assets		5 years
Acquisition date fair value of intangibles		$ 10,000

ACQUISITIONS - Summary of Estim

ACQUISITIONS - Summary of Estimated Fair Values of Consideration Paid and Net Assets Acquired (Details) - USD ($) $ in Thousands				6 Months Ended	9 Months Ended	11 Months Ended
	Sep. 30, 2023	Apr. 05, 2023	Nov. 01, 2022	Sep. 30, 2023	Sep. 30, 2023	Sep. 30, 2023	Dec. 31, 2022
Liabilities assumed:
Goodwill	$ 53,814			$ 53,814	$ 53,814	$ 53,814	$ 49,774
Measurement Period Adjustments, Goodwill					(807)
La Nacional
Assets acquired:
Cash and cash equivalents	39,569		$ 39,569	39,569	39,569	39,569
Accounts receivable	16,504		16,504	16,504	16,504	16,504
Prepaid wires	571		571	571	571	571
Prepaid expenses and other current assets	1,649		1,219	1,649	1,649	1,649
Measurement Period Adjustments, Prepaid expenses and other current assets						430
Property and equipment	4,077		4,077	4,077	4,077	4,077
Intangible assets	8,450		8,450	8,450	8,450	8,450
Other assets	13,659		13,659	13,659	13,659	13,659
Total identifiable assets acquired	84,479		84,049	84,479	84,479	84,479
Measurement Period Adjustments, Total identifiable assets acquired						430
Liabilities assumed:
Accounts payable	(1,260)		(1,260)	(1,260)	(1,260)	(1,260)
Wire transfers and money orders payable	(35,595)		(35,595)	(35,595)	(35,595)	(35,595)
Accrued and other liabilities	(3,285)		(3,651)	(3,285)	(3,285)	(3,285)
Measurement Period Adjustments, Accrued and other liabilities						366
Lease liabilities	(13,067)		(13,067)	(13,067)	(13,067)	(13,067)
Deferred tax liability	(2,269)		(2,969)	(2,269)	(2,269)	(2,269)
Measurement Period Adjustments, Deferred tax liability						700
Total liabilities assumed	(55,476)		(56,542)	(55,476)	(55,476)	(55,476)
Measurement Period Adjustments, Total liabilities assumed						1,066
Net identifiable assets acquired	29,003		27,507	29,003	29,003	29,003
Measurement Period Adjustments, Net identifiable assets acquired						1,496
Consideration transferred	41,021		41,021
Goodwill	12,018		$ 13,514	12,018	12,018	12,018
Measurement Period Adjustments, Goodwill						(1,496)
LAN Holdings
Assets acquired:
Cash and cash equivalents	4,721	$ 4,721		4,721	4,721	4,721
Accounts receivable	3,643	3,643		3,643	3,643	3,643
Prepaid wires	4,613	4,613		4,613	4,613	4,613
Prepaid expenses and other current assets	353	353		353	353	353
Property and equipment	351	351		351	351	351
Intangible assets	3,200	3,200		3,200	3,200	3,200
Other assets	877	877		877	877	877
Total identifiable assets acquired	17,758	17,758		17,758	17,758	17,758
Liabilities assumed:
Accounts payable	(1,010)	(1,010)		(1,010)	(1,010)	(1,010)
Wire transfers and money orders payable	(6,645)	(6,645)		(6,645)	(6,645)	(6,645)
Accrued and other liabilities	(1,436)	(747)		(1,436)	(1,436)	(1,436)
Measurement Period Adjustments, Accrued and other liabilities				(689)
Lease liabilities	(758)	(758)		(758)	(758)	(758)
Deferred tax liability	(91)	(91)		(91)	(91)	(91)
Total liabilities assumed	(9,940)	(9,251)		(9,940)	(9,940)	(9,940)
Measurement Period Adjustments, Total liabilities assumed				(689)
Net identifiable assets acquired	7,818	8,507		7,818	7,818	7,818
Measurement Period Adjustments, Net identifiable assets acquired				(689)
Consideration transferred	13,354	13,354
Goodwill	$ 5,536	$ 4,847		5,536	$ 5,536	$ 5,536
Measurement Period Adjustments, Goodwill				$ 689

ACQUISITIONS - Pro Forma Revenu

ACQUISITIONS - Pro Forma Revenue and Net Income (Details) - LAN Holdings - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Business Acquisition [Line Items]
Total revenues	$ 172,437	$ 144,463	$ 492,379	$ 403,453
Net income	$ 14,980	$ 16,690	$ 42,357	$ 44,455

REVENUES - Revenues from Contra

REVENUES - Revenues from Contract with Customers (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Disaggregation of Revenue [Line Items]
Total revenues	$ 172,437	$ 140,767	$ 486,952	$ 392,368
Wire transfer and money order fees, net
Disaggregation of Revenue [Line Items]
Wire transfer and money order fees	148,157	121,218	418,416	337,757
Discounts and promotions	(770)	(500)	(2,061)	(1,417)
Total revenues	147,387	120,718	416,355	336,340
Foreign exchange gain, net
Disaggregation of Revenue [Line Items]
Total revenues	22,688	18,851	64,239	52,719
Other income
Disaggregation of Revenue [Line Items]
Total revenues	$ 2,362	$ 1,198	$ 6,358	$ 3,309

REVENUES - Narrative (Details)

REVENUES - Narrative (Details) $ in Millions	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) obligation	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) point obligation	Sep. 30, 2022 USD ($)
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		1
Money order fees | $	$ 0.5	$ 0.4	$ 1.7	$ 1.2

ACCOUNTS RECEIVABLE AND AGENT_3

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Summary of Accounts Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Accounts receivable	$ 165,645	$ 132,363
Allowance for credit losses	(2,638)	(2,555)
Accounts receivable, net	$ 163,007	$ 129,808

ACCOUNTS RECEIVABLE AND AGENT_4

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Summary of Agent Advances Receivable, Net (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Receivables [Abstract]
Agent advances receivable, current	$ 1,730	$ 1,373
Allowance for credit losses	(92)	(62)
Net current	1,638	1,311
Agent advances receivable, long-term	2,640	1,423
Allowance for credit losses	(101)	(31)
Net long-term	$ 2,539	$ 1,392

ACCOUNTS RECEIVABLE AND AGENT_5

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Narrative (Details) - USD ($) $ in Millions	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Accounts, Notes, Loans and Financing Receivable [Line Items]
Notes collateralized	$ 4.4	$ 2.8
Minimum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate on notes receivable	0%
Maximum
Accounts, Notes, Loans and Financing Receivable [Line Items]
Interest rate on notes receivable	10%

ACCOUNTS RECEIVABLE AND AGENT_6

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Maturities of Agent Advances Receivable (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Receivables [Abstract]
Under 1 year	$ 1,730
Between 1 and 2 years	2,105
More than 2 years	535
Total	$ 4,370

ACCOUNTS RECEIVABLE AND AGENT_7

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Summary of Changes in Allowance for Credit Losses (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Accounts Receivable, Allowance for Credit Loss [Roll Forward]
Beginning balance	$ 2,690	$ 2,442	$ 2,648	$ 2,249
Provision	1,830	525	3,770	2,022
Charge-offs	(1,760)	(700)	(4,194)	(2,202)
Recoveries	190	117	726	315
Other	(119)	0	(119)	0
Ending Balance	$ 2,831	$ 2,384	$ 2,831	$ 2,384

ACCOUNTS RECEIVABLE AND AGENT_8

ACCOUNTS RECEIVABLE AND AGENT ADVANCES RECEIVABLE, NET OF ALLOWANCE - Allowance for Credit Losses (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Jun. 30, 2023	Dec. 31, 2022	Sep. 30, 2022	Jun. 30, 2022	Dec. 31, 2021
Receivables [Abstract]
Accounts receivable	$ 2,638		$ 2,555
Agent advances receivable	193		93
Allowance for credit losses	$ 2,831	$ 2,690	$ 2,648	$ 2,384	$ 2,442	$ 2,249

PREPAID EXPENSES AND OTHER AS_3

PREPAID EXPENSES AND OTHER ASSETS - Prepaid Expenses and Other Current Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets [Abstract]
Prepaid insurance	$ 1,421	$ 1,578
Prepaid fees and services	1,879	1,986
Agent incentives advances	1,307	1,014
Agent advances receivable, net of allowance	1,638	1,311
Tenant allowance	2,815	3,753
Prepaid income taxes	2,618	2,130
Prepaid expenses and current assets - other	1,052	977
Prepaid expenses and other assets	$ 12,730	$ 12,749

PREPAID EXPENSES AND OTHER AS_4

PREPAID EXPENSES AND OTHER ASSETS - Other Assets (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Prepaid Expense and Other Assets [Abstract]
Revolving line origination fees	$ 1,820	$ 1,578
Agent incentives advances	2,585	1,062
Agent advances receivable, net of allowance	2,539	1,392
Right-of-use assets, net	23,222	24,768
Funds held by seized banking entities, net of allowance	1,833	1,646
Other assets	3,122	1,430
Other assets	$ 35,121	$ 31,876

PREPAID EXPENSES AND OTHER AS_5

PREPAID EXPENSES AND OTHER ASSETS - Narrative (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022	Dec. 31, 2021
Cash and cash equivalents	$ 222,447	$ 149,493
MEXICO
Cash and cash equivalents			$ 5,200
Valuation allowance	$ 3,600

GOODWILL AND INTANGIBLE ASSET_2

GOODWILL AND INTANGIBLE ASSETS - Narrative (Details) $ in Millions	3 Months Ended	9 Months Ended
	Sep. 30, 2023 USD ($)	Sep. 30, 2023 USD ($)
Finite-Lived Intangible Assets, Net [Abstract]
Goodwill and intangible asset impairment	$ 0	$ 0
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	10 years
Non-Competition Agreements
Finite-Lived Intangible Assets, Net [Abstract]
Intangible asset, useful life	5 years	5 years

GOODWILL AND INTANGIBLE ASSET_3

GOODWILL AND INTANGIBLE ASSETS - Changes in Goodwill and Intangible Assets (Details) - USD ($) $ in Thousands		6 Months Ended	9 Months Ended
	Apr. 05, 2023	Sep. 30, 2023	Sep. 30, 2023
Goodwill
Beginning balance			$ 49,774
Measurement period adjustment (Refer to Note 2)			(807)
Amortization expense			0
Ending balance		$ 53,814	53,814
Intangibles
Beginning balance			19,826
Measurement period adjustment (Refer to Note 2)			0
Amortization expense			(3,668)
Ending balance		19,358	19,358
LAN Holdings
Goodwill
Measurement period adjustment (Refer to Note 2)		689
Acquisition of LAN Holdings			4,847
Ending balance	$ 4,847	$ 5,536	5,536
Intangibles
Acquisition of LAN Holdings			$ 3,200

GOODWILL AND INTANGIBLE ASSET_4

GOODWILL AND INTANGIBLE ASSETS - Amortization Expense Related to Intangible Assets (Details) $ in Thousands	Sep. 30, 2023 USD ($)
Goodwill and Intangible Assets Disclosure [Abstract]
2023	$ 1,215
2024	3,965
2025	3,156
2026	2,521
2027	2,023
Thereafter	6,478
Net amortizable intangible assets	$ 19,358

LEASES - Narrative (Details)

LEASES - Narrative (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
Tenant allowance	$ 2,815	$ 3,753
Operating lease, weighted average remaining lease terms	6 years 6 months	6 years 7 months 6 days
Operating lease, weighted average discount rate	5.95%	5.67%

LEASES - Right-Of-Use Assets an

LEASES - Right-Of-Use Assets and Lease Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Assets
Operating Lease, Right-of-Use Asset, Statement of Financial Position [Extensible Enumeration]	Other assets	Other assets
Right-of-use assets	$ 23,222	$ 24,768
Current
Operating Lease, Liability, Current, Statement of Financial Position [Extensible Enumeration]	Accrued and other liabilities	Accrued and other liabilities
Operating	$ 5,155	$ 5,258
Noncurrent
Operating	22,465	23,272
Total Lease liabilities	27,620	28,530
Operating lease, right-of-use asset, accumulated amortization	$ 8,900	$ 5,600

LEASES - Lease Expense (Details

LEASES - Lease Expense (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Leases [Abstract]
Operating lease cost	$ 1,891	$ 632	$ 5,965	$ 1,631

LEASES - Lease Payments (Detail

LEASES - Lease Payments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Leases [Abstract]
2023	$ 1,565
2024	5,892
2025	6,327
2026	4,933
2027	3,610
Thereafter	14,977
Total lease payments	37,304
Less: Imputed interest	(9,684)
Present value of lease liabilities	$ 27,620	$ 28,530

WIRE TRANSFERS AND MONEY ORDE_3

WIRE TRANSFERS AND MONEY ORDERS PAYABLE, NET (Details) - USD ($) $ in Thousands	9 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
Wire transfers payable, net	$ 99,706	$ 55,572
Customer voided wires payable	29,575	27,236
Money orders payable	30,577	29,443
Total wire transfers and money orders payable, net	$ 159,858	$ 112,251
Wires payable collection period	30 days
Minimum
Statutory abandonment period	3 years
Maximum
Statutory abandonment period	7 years

ACCRUED AND OTHER LIABILITIES -

ACCRUED AND OTHER LIABILITIES - Accrued and Other Liabilities (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Payables and Accruals [Abstract]
Commissions payable to sending agents	$ 19,981	$ 19,141
Accrued salaries and benefits	4,157	5,578
Accrued bank charges	1,350	1,644
Accrued other professional fees	1,606	1,169
Accrued taxes	2,038	1,329
Lease liabilities, current portion	5,155	5,258
Contingent consideration liability	1,800	1,321
Deferred revenue loyalty program	4,667	4,212
Other	3,516	2,203
Total accrued and other liabilities	$ 44,270	$ 41,855

ACCRUED AND OTHER LIABILITIES_2

ACCRUED AND OTHER LIABILITIES - Changes in Deferred Revenue Loyalty Program Liability (Details) $ in Thousands	9 Months Ended
	Sep. 30, 2023 USD ($)
Contract With Customer, Liability [Roll Forward]
Beginning balance	$ 4,212
Revenue deferred during the period	2,391
Revenue recognized during the period	(1,936)
Ending balance	$ 4,667

DEBT - Schedule of Debt Instrum

DEBT - Schedule of Debt Instruments (Details) - USD ($) $ in Thousands	Sep. 30, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Long-term debt, gross	$ 201,109	$ 156,938
Less: Current portion of long-term debt	(6,616)	(4,975)
Less: Debt origination costs	(1,356)	(1,728)
Long-term debt, noncurrent	193,137	150,235
Debt origination costs, current	500	500
Term loan facility
Debt Instrument [Line Items]
Long-term debt, gross	77,109	80,938
Revolving credit facility
Debt Instrument [Line Items]
Long-term debt, gross	$ 124,000	$ 76,000

DEBT - Narrative (Details)

DEBT - Narrative (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022	Apr. 18, 2023	Apr. 17, 2023	Dec. 31, 2022
Debt Instrument [Line Items]
Debt origination costs amortization			$ 829	$ 752
A&R Credit Agreement
Debt Instrument [Line Items]
Unamortized debt origination costs	$ 3,200		3,200				$ 3,300
Debt origination costs amortization	300	$ 200	$ 800	$ 800
Consolidated leverage ratio			3
Debt instrument, covenant, restricted payment threshold	$ 23,800		$ 23,800
Debt instrument, covenant, restricted payment threshold, percent of EBITDA	25%		25%
Debt instrument, covenant, repurchase of common stock threshold	$ 10,000		$ 10,000
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
Leverage ratio, restricted payments			2.25
A&R Credit Agreement | SOFR
Debt Instrument [Line Items]
Interest rate			0.10%
A&R Credit Agreement | SOFR | Minimum
Debt Instrument [Line Items]
Interest rate			2.50%
A&R Credit Agreement | SOFR | Maximum
Debt Instrument [Line Items]
Interest rate			3%
A&R Credit Agreement | Base Rate | Minimum
Debt Instrument [Line Items]
Interest rate			1.50%
A&R Credit Agreement | Base Rate | Maximum
Debt Instrument [Line Items]
Interest rate			2%
A&R Credit Agreement | Term loan facility
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 87,500		$ 87,500
Effective interest rate	8.21%	4.18%	8.21%	4.18%
A&R Credit Agreement | Term loan facility | Year 1
Debt Instrument [Line Items]
Periodic repayment percentage	5%		5%
A&R Credit Agreement | Term loan facility | Year 2
Debt Instrument [Line Items]
Periodic repayment percentage	5%		5%
A&R Credit Agreement | Term loan facility | Year 3
Debt Instrument [Line Items]
Periodic repayment percentage	7.50%		7.50%
A&R Credit Agreement | Term loan facility | Year 4
Debt Instrument [Line Items]
Periodic repayment percentage	10%		10%
A&R Credit Agreement | Term loan facility | Year 5
Debt Instrument [Line Items]
Periodic repayment percentage	10%		10%
Revolving credit facility | A&R Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 150,000		$ 150,000		$ 220,000	$ 150,000
Unused line fee percentage			0.35%
Effective interest rate	1.90%	0.80%	1.90%	0.80%
Uncommitted Incremental Facility | A&R Credit Agreement
Debt Instrument [Line Items]
Maximum borrowing capacity	$ 70,000		$ 70,000		70,000
Unamortized debt origination costs					$ 700

SHARE-BASED COMPENSATION - Narr

SHARE-BASED COMPENSATION - Narrative (Details)	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) shares	Sep. 30, 2022 USD ($)	Sep. 30, 2023 USD ($) installment shares	Sep. 30, 2022 USD ($)	Jun. 26, 2020 shares
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	$ 100,000	$ 100,000	$ 400,000	$ 1,200,000
Unrecognized compensation expense	200,000		$ 200,000
Weighted-average period for recognition			9 months 18 days
Stock options | 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Common stock approved for issuance (in shares) | shares					3,700,000
Shares available for future awards (in shares) | shares			2,100,000
Stock options | 2018 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Number of shares available for grant (in shares) | shares					400,000
RSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	800,000	500,000	$ 2,100,000	1,300,000
Unrecognized compensation expense	6,100,000		$ 6,100,000
Weighted-average period for recognition			1 year 10 months 24 days
Granted (in shares) | shares			202,208
RSUs | Employees
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
RSUs | Independent Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			1 year
Share Awards | Independent Directors
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Fully vested (in shares)			$ 80,500
Share Awards | 2020 Plan
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Share-based compensation expense	$ 20,100	20,100	$ 60,400	52,100
Granted (in shares) | shares	821		2,428
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	$ 300,000	200,000	$ 900,000	500,000
Unrecognized compensation expense	3,100,000		$ 3,100,000
Weighted-average period for recognition			1 year 10 months 24 days
Granted (in shares) | shares			80,402
PSUs
Share-based Compensation Arrangement by Share-based Payment Award [Line Items]
Award vesting period			3 years
Share-based compensation expense	1,000,000	1,800,000	$ 2,800,000	$ 2,500,000
Unrecognized compensation expense	$ 4,700,000		$ 4,700,000
Weighted-average period for recognition			1 year 9 months 18 days
Granted (in shares) | shares			318,386
Award service period			3 years
Catch-up adjustment to compensation expense		$ 1,100,000	$ 0

SHARE-BASED COMPENSATION - Stoc

SHARE-BASED COMPENSATION - Stock Option Activity (Details) - Stock options	9 Months Ended	12 Months Ended
	Sep. 30, 2023 $ / shares shares	Dec. 31, 2022 $ / shares shares
Number of Options
Outstanding, beginning balance (in shares) | shares	711,050
Granted (in shares) | shares	0
Exercised (in shares) | shares	(78,500)
Forfeited (in shares) | shares	(11,250)
Outstanding, ending balance (in shares) | shares	621,300	711,050
Exercisable, ending balance (in shares) | shares	575,050
Weighted-Average Exercise Price
Outstanding, beginning balance (in dollars per share)	$ 11.56
Granted (in dollars per share)	0
Exercised (in dollars per share)	12.18
Forfeited (in dollars per share)	14.07
Outstanding, ending balance (in dollars per share)	11.43	$ 11.56
Exercisable, ending balance (in dollars per share)	$ 11.30
Weighted-Average Remaining Contractual Term (Years)
Weighted average remaining contractual term, outstanding	5 years 5 months 12 days	6 years 3 months 3 days
Weighted average remaining contractual term, exercisable	5 years 4 months 9 days
Weighted-Average Grant Date Fair Value
Outstanding beginning balance (in dollars per share)	$ 4.28
Granted (in dollars per share)	0
Exercised (in dollars per share)	5.03
Forfeited (in dollars per share)	6.54
Outstanding ending balance (in dollars per share)	4.15	$ 4.28
Exercisable ending balance (in dollars per share)	$ 4.03

SHARE-BASED COMPENSATION - RSU,

SHARE-BASED COMPENSATION - RSU, RSA, and PSU Activity (Details) - USD ($) $ / shares in Units, $ in Millions	9 Months Ended	12 Months Ended
	Sep. 30, 2023	Dec. 31, 2022
RSUs
Number
Outstanding beginning balance (in dollar per share)	316,902
Granted (in shares)	202,208
Vested (in shares)	(119,750)
Forfeited (in shares)	(39,532)
Outstanding ending balance (in dollar per share)	359,828	316,902
Weighted-Average Grant Price
Nonvested at beginning of period (in dollars per share)	$ 16.58
Granted (in dollars per share)	24.75
Vested (in dollars per share)	17.52
Forfeited (in dollars per share)	19.65
Nonvested at end of period (in dollars per share)	$ 20.53	$ 16.58
Aggregate fair value of awards granted	$ 5
RSAs
Number
Outstanding beginning balance (in dollar per share)	159,562
Granted (in shares)	80,402
Vested (in shares)	(47,984)
Forfeited (in shares)	0
Outstanding ending balance (in dollar per share)	191,980	159,562
Weighted-Average Grant Price
Nonvested at beginning of period (in dollars per share)	$ 15.28
Granted (in dollars per share)	25.68
Vested (in dollars per share)	15.68
Forfeited (in dollars per share)	0
Nonvested at end of period (in dollars per share)	$ 19.53	$ 15.28
Aggregate fair value of awards granted	$ 2.1
PSUs
Number
Outstanding beginning balance (in dollar per share)	300,871
Granted (in shares)	318,386
Vested (in shares)	0
Forfeited (in shares)	0
Outstanding ending balance (in dollar per share)	619,257	300,871
Weighted-Average Grant Price
Nonvested at beginning of period (in dollars per share)	$ 17.30
Granted (in dollars per share)	19.49
Vested (in dollars per share)	0
Forfeited (in dollars per share)	0
Nonvested at end of period (in dollars per share)	$ 18.43	$ 17.30
Weighted-Average Remaining Contractual Term (Years)	8 years 1 month 13 days	8 years 7 months 17 days
Aggregate fair value of awards granted	$ 6.2

EQUITY (Details)

EQUITY (Details) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023 USD ($) shares	Sep. 30, 2022 USD ($) shares	Sep. 30, 2023 USD ($) shares	Sep. 30, 2022 USD ($) shares	Mar. 03, 2023 USD ($)	Dec. 31, 2021 USD ($)
Schedule of Capitalization [Line Items]
Stock repurchase program, authorized amount						$ 40,000
Treasury stock repurchased (in shares) | shares	501,900	1,287,714	1,734,481	2,015,615
Value of treasury stock repurchased	$ 10,106	$ 30,106	$ 40,621	$ 43,734
Stock repurchase program, remaining authorized repurchase amount	80,700		80,700
A&R Credit Agreement
Schedule of Capitalization [Line Items]
Stock repurchase program, authorized amount					$ 100,000
Debt instrument, covenant, restricted payment threshold	$ 23,800		$ 23,800
Debt instrument, covenant, restricted payment threshold, percent of EBITDA	25%		25%
Debt instrument, covenant, repurchase of common stock threshold	$ 10,000		$ 10,000
A&R Credit Agreement | Maximum
Schedule of Capitalization [Line Items]
Leverage ratio, restricted payments			2.25

EARNINGS PER SHARE - Basic and

EARNINGS PER SHARE - Basic and Diluted Earnings Per Share (Details) - USD ($) $ / shares in Units, $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Net income for basic and diluted earnings per common share	$ 14,832	$ 16,626	$ 42,016	$ 44,264
Shares:
Weighted-average common shares outstanding - basic (in shares)	35,320,809	37,390,632	35,930,234	37,999,709
Weighted-average common shares outstanding - diluted (in shares)	36,082,163	38,425,868	36,767,680	38,907,283
Earnings per common share – basic (in dollars per share)	$ 0.42	$ 0.44	$ 1.17	$ 1.16
Earnings per common share – diluted (in dollars per share)	$ 0.41	$ 0.43	$ 1.14	$ 1.14
RSUs
Shares:
Effect of dilutive securities (in shares)	81,436	136,602	114,702	103,526
Stock options
Shares:
Effect of dilutive securities (in shares)	259,121	559,556	308,061	607,535
RSAs
Shares:
Effect of dilutive securities (in shares)	48,898	270,203	57,383	149,888
PSUs
Shares:
Effect of dilutive securities (in shares)	371,899	68,875	357,300	46,625

EARNINGS PER SHARE - Narrative

EARNINGS PER SHARE - Narrative (Details) - shares	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Treasury stock repurchased (in shares)	501,900	1,287,714	1,734,481	2,015,615
Decrease in weighted average shares outstanding (in shares)	1,475,495		805,307
PSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted earnings per share (in shares)			146,900
RSUs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted earnings per share (in shares)			131,800	15,100
RSAs
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted earnings per share (in shares)			58,400
Stock options
Antidilutive Securities Excluded from Computation of Earnings Per Share [Line Items]
Securities excluded from computation of diluted earnings per share (in shares)				12,500

INCOME TAXES (Details)

INCOME TAXES (Details) - USD ($) $ in Thousands	3 Months Ended		9 Months Ended
	Sep. 30, 2023	Sep. 30, 2022	Sep. 30, 2023	Sep. 30, 2022
Income Tax Disclosure [Abstract]
Income before income taxes	$ 21,451	$ 19,280	$ 60,190	$ 57,534
U.S statutory tax rate	21%	21%	21%	21%
Income tax expense at statutory rate	$ 4,505	$ 4,049	$ 12,640	$ 12,082
State tax expense, net of federal benefit	1,599	1,199	4,654	3,552
Foreign tax rates different from U.S. statutory rate	201	38	244	83
Non-deductible expenses	347	236	855	592
Stock compensation	(38)	(2,890)	(312)	(2,952)
Other	5	22	93	(87)
Total income tax provision	$ 6,619	$ 2,654	$ 18,174	$ 13,270

COMMITMENTS AND CONTINGENCIES (

COMMITMENTS AND CONTINGENCIES (Details)	Sep. 30, 2023 territory state country
Commitments and Contingencies Disclosure [Abstract]
Number of states in which entity operates | state	50
Number of territories in which entity operates | territory	2
Number of countries in which entity operates | country	7