Currency Exchange International Q2 Earnings Call Highlights

Key Points

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• Currency Exchange International posted 13% year-over-year second-quarter gross maturation to $18 million, led by a 73% leap successful payments revenue, adjacent arsenic EBITDA and nett income were somewhat lower. Payments roseate to astir 27% of full gross from 17% a twelvemonth earlier.

• The institution said the wind-down of Exchange Bank of Canada is present complete, with the subsidiary dissolved during the 4th and related discontinued-operation losses totaling $6.57 million. Management said the exit clears the mode for CXI to trust much connected nonstop relationships with SWIFT, the Federal Reserve, and a ample planetary banking partner.

• Payments growth offset weaker direct-to-consumer banknotes activity, arsenic OnlineFX and subdivision gross declined owed to little request for exotic currencies and subdivision disruptions. Management highlighted continued concern successful WireHub, SWIFT integration, and e-commerce arsenic cardinal maturation initiatives going forward.

Currency Exchange International (TSE:CXI) reported higher second-quarter gross for fiscal 2026, supported by accelerated maturation successful its payments business, portion absorption said the ceremonial wind-down of Exchange Bank of Canada is present complete.

On a league telephone Wednesday, Group CFO Gerhard Barnard said gross for the 3 months ended April 30 roseate 13% twelvemonth implicit twelvemonth to $18 million, an summation of $2.1 million. The summation was driven chiefly by a 73% summation successful payments revenue, portion banknotes gross roseate 1%.

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Barnard said payments represented astir 27% of full gross successful the quarter, up from 17% a twelvemonth earlier. Banknotes remained the largest concern line, accounting for astir 73% of revenue.

Reported EBITDA fell 8% to $4.5 million, portion adjusted EBITDA declined 11% to $4.7 million. Reported nett income from continuing operations decreased 11% to $2.4 million. Barnard said adjusted continuing radical nett income was “essentially flat” astatine $2.4 cardinal for the 4th and roseate astir 25% to $4.3 cardinal for the six-month period.

Exchange Bank of Canada wind-down completed

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Currency Exchange International said it completed the discontinuance of its wholly owned subsidiary, Exchange Bank of Canada, oregon EBC, during the quarter. The institution announced connected May 4 that EBC’s orderly exit from Canada had concluded, and Barnard said the entity was dissolved connected April 29.

The dissolution resulted successful astir $6.4 cardinal antecedently recorded successful accumulated different broad losses being reclassified done retained net arsenic portion of the nonaccomplishment aft taxation from discontinued operations. EBC besides incurred astir $110,000 successful ineligible and consulting charges during the 4th and astir $300,000 for the six-month period.