Core Insights - Currency Exchange International, Corp. (CXI) reported a net income of $1.98 million for Q2 2025, a 291% increase year-over-year, driven by $2.7 million from continuing operations despite a $0.7 million loss from its discontinued subsidiary, Exchange Bank of Canada [1][2][10] - Adjusted net income rose by 18% compared to the previous year, with adjusted diluted earnings per share (EPS) increasing by 24% [1][2][10] - The company experienced a 3% decline in total revenue due to reduced consumer demand for foreign currency as travel activity decreased, although net income increased due to favorable currency revaluation [2][10] Financial Performance - Reported EBITDA for Q2 2025 was $4.9 million, up 10% year-over-year, while adjusted EBITDA was $5.1 million, reflecting a 15% increase [2][10] - For the six-month period ending April 30, 2025, total revenue was $31.3 million, a 3% increase from $30.5 million, with payments revenue up 11% [10][11] - The company maintained a strong financial position with total equity of $81.2 million and net working capital of $60.4 million as of April 30, 2025 [2][10] Strategic Developments - CXI announced the cessation of operations for its subsidiary, Exchange Bank of Canada, with plans to apply for discontinuance under the Bank Act in Q4 2025 [3][4] - The restructuring plan is expected to result in approximately $3 million in annualized costs after tax, which will be fully borne by continuing operations [4] - The company upgraded its U.S. securities listing to the OTCQX Best Market under the symbol CURN on May 20, 2025 [5] Market Position and Growth - CXI continued to expand its direct-to-consumer market presence, adding 124 new clients in the banknotes sector during Q2 2025 [13] - The payments product line saw growth due to investments in core banking platform integrations, processing 45,788 payment transactions in Q2 2025, an increase from 37,781 in the prior period [13] - The company’s diversified business model in the U.S. supports ongoing client growth in the payments sector, despite challenges in banknote revenues due to decreased international travel [6][10]

Financial Results Announcement - Currency Exchange International, Corp. will report its financial results for the Second Quarter of 2025 after-market close on June 11, 2025 [1][2] - The earnings conference call is scheduled for June 12, 2025, at 8:30 a.m. EST [1][3] Conference Call Details - Participants can join the conference call by dialing the local numbers provided for New York and Toronto, or the toll-free number for North America [3] - A recorded copy of the conference call will be available on the Company website for those unable to participate live [3] Company Overview - Currency Exchange International provides foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the U.S. and select global clients [4] - The Company offers services including foreign currency exchange, wire transfer payments, Global EFTs, and foreign cheque clearing [4] - Wholesale customers are served through proprietary FX software applications and personal relationship managers, while consumers are served through retail branches and an e-commerce platform [4]