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ACQUISITIONS
 12 Months Ended
Dec. 31, 2025
Business Combination, Asset Acquisition, Transaction between Entities under Common Control, and Joint Venture Formation [Abstract]  
ACQUISITIONS ACQUISITIONS
On July 2, 2024, the Company completed the acquisition of 100% of the issued and outstanding stock of a money services entity incorporated in the United Kingdom. This acquisition provided the Company the opportunity to enter into the outbound remittance market from the United Kingdom.

The total consideration transferred by the Company in connection with the acquisition was approximately $1.4 million in cash, subject to customary purchase price adjustments. The acquisition was funded with cash on hand.

The fair value of identifiable net assets acquired and goodwill in the acquisition on July 2, 2024 amounted to approximately $0.2 million and $1.2 million, respectively. The measurement period ended June 30, 2025 and no adjustments were recorded through that date.

The goodwill balance for this acquisition represented the estimated values of the Company’s assembled workforce and synergies expected to be achieved from the combined operations of the acquired entity and the Company. Goodwill resulting from this acquisition was not deductible for tax purposes.

Restructuring costs

During 2025, the Company executed a restructuring plan related to certain of its domestic and foreign operations. For the year ended December 31, 2025, the Company incurred approximately $0.7 million in expenses primarily for a reduction of workforce in certain locations. These restructuring costs are part of the Company's plan, for which the objectives are to reorganize the workforce, streamline operational processes, close certain facilities and develop efficiencies within the Company. These expenses primarily consisted of severance payments and related benefits, which are included in restructuring costs in the consolidated statement of income and comprehensive income.
The following table presents the changes in our liability balance related to restructuring costs for the year ended December 31, 2025 (in thousands):
Year Ended December 31, 2025
Severance costs
Legal and professional fees
Beginning balance
$300 $16 
Charges incurred
709 16 
Payments
(756)(25)
Ending balance
$253 $7 
During 2024, the Company executed a restructuring plan related to certain of its foreign operations and Envios de Valores La Nacional Corp. These restructuring costs were part of the Company's plan, for which the objectives were to reorganize the workforce, streamline operational processes, integrate technology functionality, as well as to develop efficiencies within the Company. For the year ended December 31, 2024, the Company incurred approximately $3.1 million in expenses for a reduction of workforce in certain locations, closing of certain facilities, discontinuing technology and disposal of obsolete assets. These expenses include approximately $2.3 million in severance payments and related benefits, $0.4 million in software and software development costs write-offs and $0.4 million in legal and professional fees, which are included in restructuring costs in the consolidated statement of income and comprehensive income.
The following table presents the changes in our liability balance related to restructuring costs for the year ended December 31, 2024 (in thousands):
Year Ended December 31, 2024
Severance costs
Legal and professional fees
Beginning balance
$— $— 
Charges incurred
2,254 376 
Payments
(1,954)(360)
Ending balance
$300 $16 
Transaction Costs
Transaction costs include all internal and external costs directly related to acquisition activities and the Company's evaluation of strategic alternatives including the pending Merger with Western Union, consisting primarily of legal, consulting, accounting and financial advisory fees. Transaction costs for the years ended December 31, 2025, 2024, and 2023 amounted to $10.5 million, $1.8 million and $0.4 million, respectively.