v3.25.4
CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($)
$ in Thousands
12 Months Ended
Dec. 31, 2025
Dec. 31, 2024
Dec. 31, 2023
Cash flows from operating activities:      
Net income $ 32,671 $ 58,821 $ 59,515
Adjustments to reconcile net income to net cash provided by operating activities:      
Depreciation and amortization 17,161 13,645 12,866
Share-based compensation 9,276 7,043 8,111
Provision for credit losses 7,916 6,411 4,997
Fair value of contingent consideration 0 0 (763)
Debt origination costs amortization 1,024 1,416 1,130
Deferred income tax provision (benefit), net 5,199 (448) (2,623)
Gain contingency 3,286 0 0
Goodwill impairment 1,209 0 0
Non-cash lease expense 7,019 7,028 7,848
Loss on disposal of property and equipment 1,464 1,592 1,785
Total adjustments 53,554 36,687 33,351
Changes in operating assets and liabilities:      
Accounts receivable (7,053) 41,598 (29,243)
Prepaid wires, net (7,405) (24,457) 68,366
Prepaid expenses and other assets (9,187) 5,693 (6,852)
Lease liabilities (7,902) (5,852) (6,235)
Wire transfers and money orders payable, net 36 (36,280) 3,987
Accounts payable and accrued and other liabilities (17,827) (23,125) 20,636
Net cash provided by operating activities 36,887 53,085 143,525
Cash flows from investing activities:      
Cash used in business acquisitions, net of cash and cash equivalents acquired 0 (1,249) (5,477)
Cash used in asset acquisitions 0 (12,000) 0
Purchases of property and equipment (21,074) (29,997) (12,803)
Proceeds from sale of real estate property 407 0 0
Acquisition of agent locations (1,399) (700) 0
Net cash used in investing activities (22,066) (43,946) (18,280)
Cash flows from financing activities:      
Repayments of term loan facility 0 (75,469) (5,469)
Borrowings under revolving credit facility 8,084,500 3,019,200 38,000
Repayments of Lines of Credit (8,046,286) (2,976,600) 0
Debt origination costs 0 (3,066) (751)
Proceeds (payments) from exercise of options 46 (669) 1,298
Payments for stock-based awards (1,079) (2,468) (3,934)
Repurchases of common stock (16,334) (75,132) (66,264)
Other financing activities (52) 0 0
Net cash provided by (used in) financing activities 20,795 (114,204) (37,120)
Effect of exchange rate changes on cash and cash equivalents 2,563 (3,635) 1,585
Net increase (decrease) in cash and cash equivalents 38,179 (108,700) 89,710
Cash and cash equivalents, beginning of the year 130,503 239,203 149,493
Cash and cash equivalents, end of the year 168,682 130,503 239,203
Supplemental disclosure of cash flow information:      
Cash paid for interest 10,809 10,430 9,180
Cash paid for income taxes 17,889 24,591 21,503
Supplemental disclosure of non-cash investing activities:      
Lease liabilities arising from obtaining right-of-use assets 2,997 2,413 6,034
Settlement of receivables from agent acquisitions 1,634 0 0
Accrued liabilities related to agent acquisitions 150 0 0
Contingent consideration liability 0 0 600
Settlement of preexisting receivable balance from LAN Holdings against the consideration transferred 0 0 2,534
Supplemental disclosure of non-cash financing activities:      
Issuance of common stock for cashless exercise of options 0 4,359 0
Settlement of contingent consideration and acquisition related liabilities $ 2,001 $ 0 $ 0