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FAIR VALUE MEASUREMENTS
 6 Months Ended
Jun. 30, 2025
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 is based on a discounted cash flows analysis that includes several assumptions and inputs to measure the economic benefit of these assets over their useful lives, such as the Company’s forecasted revenues, assumed turnover of agent locations, obsolescence assumptions for technology, market discount and royalty rates. These inputs are based on information not observable in the market and represent Level 3 measurements within the fair value hierarchy.

The Company's 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, agent advances 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. The estimated fair value of the revolving credit facility would approximate book value given the payment schedule and interest rate structure, which approximates current market interest rates.

The following tables present the Company's financial instruments that are not measured at fair value, categorized based upon the fair value hierarchy (in thousands):
June 30, 2025
Level 1Level 2Level 3
Cash and cash equivalents$174,723 $— $— 
Accounts receivable, net— 141,651 — 
Agent advances, net of allowance— 4,083 — 
Prepaid wires— 23,713 — 
Total assets$174,723 $169,447 $— 
Accounts payable$— $26,267 $— 
Wire transfers and money orders payable— 144,196 — 
Revolving credit facility— 144,114 — 
Total liabilities$— $314,577 $— 

December 31, 2024
Level 1Level 2Level 3
Cash and cash equivalents$130,503 $— $— 
Accounts receivable, net— 107,077 — 
Agent advances, net of allowance— 4,285 — 
Prepaid wires— 49,205 — 
Total assets$130,503 $160,567 $— 
Accounts payable$— $19,520 $— 
Wire transfers and money orders payable— 85,044 — 
Revolving credit facility— 156,600 — 
Total liabilities$— $261,164 $— 

The following tables present the Company's assets measured at fair value on a non-recurring basis at the dates indicated (in thousands):

June 30, 2025December 31, 2024
Goodwill$55,195 $55,195 
Intangible assets, net26,905 26,847 
$82,100 $82,042