CI Financial (CIX) Q2 2025 earnings summary

Executive summary

• Q2 2025 report compares results to Q1 2025 and Q2 2024, analyzing financial position and operations as of June 30, 2025.

• Net income attributable to shareholders was $141.8M, reversing a net loss in Q1 2025; diluted EPS was $0.97 and adjusted diluted EPS was $0.89.

• Mubadala privatization transaction expected to close August 12, 2025, with all regulatory approvals obtained; shares to be acquired for $32.00 each and delisted from TSX.

• Regular quarterly dividends paid in January and April 2025; further dividends suspended per privatization agreement.

• Paid $28.7M in dividends and closed a $500M debenture offering maturing in 2028.

Financial highlights

• Net income attributable to shareholders was $141.8M ($0.99/share) in Q2 2025, up from a net loss of $8.5M in Q1 2025.

• Adjusted net income was $128.5M ($0.89/share), down from $135.5M in Q2 2024 and $140.7M in Q1 2025.

• Total net revenue was $898.8M, up from $787.7M in Q1 2025, but down from $986.0M in Q2 2024.

• Adjusted EBITDA was $304.3M (39.2% margin), compared to $293.4M (40.1%) in Q2 2024 and $324.9M (41.0%) in Q1 2025.

• Free cash flow for Q2 2025 was $174.7M; net debt at quarter-end was $3.94B, with net debt to adjusted EBITDA at 3.8x.

• Total AUM and client assets reached $551B, up 13% year-over-year.

Outlook and guidance

• Management expects to meet obligations and support planned operations with current cash flow and capital structure.

• Mubadala transaction anticipated to close in August 2025, with all regulatory approvals obtained; CI to remain a reporting issuer due to outstanding debentures and notes.

• Forward-looking statements caution on risks from market conditions, interest rates, and the possibility of the transaction not closing.