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CONDENSED CONSOLIDATED STATEMENTS OF INCOME AND COMPREHENSIVE INCOME - USD ($)
$ in Thousands
3 Months Ended 9 Months Ended
Sep. 30, 2024
Sep. 30, 2023
Sep. 30, 2024
Sep. 30, 2023
Revenues:        
Total revenues $ 171,947 $ 172,437 $ 493,890 $ 486,952
Operating expenses:        
Service charges from agents and banks 111,348 112,871 322,651 319,983
Salaries and benefits 17,238 17,789 52,237 51,597
Other selling, general and administrative expenses 12,127 12,908 35,968 36,883
Restructuring costs 27 1,145 2,738 1,145
Depreciation and amortization 3,382 3,472 9,981 9,511
Total operating expenses 144,122 148,185 423,575 419,119
Operating income 27,825 24,252 70,315 67,833
Interest expense 3,200 2,801 8,997 7,643
Income before income taxes 24,625 21,451 61,318 60,190
Income tax provision 7,328 6,619 17,882 18,174
Net income 17,297 14,832 43,436 42,016
Other comprehensive (loss) income (66) (214) (585) 142
Comprehensive income $ 17,231 $ 14,618 $ 42,851 $ 42,158
Earnings per common share:        
Basic (in dollars per share) $ 0.53 $ 0.42 $ 1.32 $ 1.17
Diluted (in dollars per share) $ 0.53 $ 0.41 $ 1.30 $ 1.14
Weighted-average common shares outstanding:        
Basic (in shares) 32,366,831 35,320,809 32,911,742 35,930,234
Diluted (in shares) 32,732,465 36,082,163 33,335,363 36,767,680
Wire transfer and money order fees, net        
Revenues:        
Total revenues $ 144,600 $ 147,387 $ 417,358 $ 416,355
Foreign exchange gain, net        
Revenues:        
Total revenues 23,954 22,688 67,100 64,239
Other income        
Revenues:        
Total revenues $ 3,393 $ 2,362 $ 9,432 $ 6,358