Currency Exchange International (CXI) Q2 2026 earnings summary

Executive summary

• Revenue for Q2 2026 increased 13% year-over-year to $18 million, driven by strong payments growth and stable banknotes performance.

• Payments revenue surged 73% year-over-year, now representing 27% of total revenue, while banknotes revenue grew 1%.

• Net loss of $4.2 million reported, primarily due to a $6.6 million loss from discontinued EBC operations, offsetting $2.4 million net income from continuing operations.

• Completion of the discontinuance and dissolution of Exchange Bank of Canada (EBC), with all related losses recognized and operations now fully focused on core business and U.S. fintech and payments growth.

Financial highlights

• Q2 2026 revenue: $18 million, up $2.1 million or 13% year-over-year.

• Payments revenue increased 73% ($2.0 million), banknotes revenue up 1% ($0.1 million) year-over-year.

• Reported EBITDA for Q2: $4.5 million, down 8%; adjusted EBITDA: $4.7 million, down 11%.

• Adjusted net income was $2.4 million, flat year-over-year; adjusted diluted EPS rose 8% to $0.40.

• Net working capital stood at $80 million, with total equity of $85.3 million and cash and equivalents of $109.9 million as of April 30, 2026.

Outlook and guidance

• Focus on expanding payments business through direct Fed and SWIFT connections, new SaaS revenue streams, and WireHub platform.

• Continued investment in e-commerce and retail expansion, with new store openings and leadership hires.

• Management prioritizes revenue growth in both banknotes and payments, supported by cost management and digital expansion.

• Banknotes expected to benefit from seasonality and events like the World Cup, though impact is expected to be positive but not material.