Currency Exchange International (CXI) Q4 2025 earnings summary

Executive summary

• Discontinued operations of Exchange Bank of Canada (EBC) completed, with final regulatory approval and asset liquidation expected in Q2 2026.

• Focus shifted entirely to U.S. operations, emphasizing growth in banknotes and payments segments.

• Achieved 5% revenue growth year-over-year, reaching $72.5M, with net income of $10.3M, up 317% from the prior year due to lower non-recurring charges and discontinued operations adjustments.

• Payments revenue grew 19% and Banknotes revenue increased 3–4%, reflecting strong organic growth and expanded customer outreach.

Financial highlights

• Net income for FY2025 was $10.3M, up 317% year-over-year; revenue grew 5% to $72.5M.

• Adjusted net income from continuing operations rose 10% to $14.5M; adjusted group net income up 6% to $10.8M.

• Adjusted diluted EPS increased 14% to $1.77.

• Q4 revenue grew 8% to $19.9M; Q4 adjusted net income up 19% to $3.3M.

• Reported EBITDA for the year was $23.3M (+7%); adjusted EBITDA $24M (+10%).

Outlook and guidance

• Management expects continued growth in payments and direct-to-consumer banknotes, with a full exit from Canada and focus on U.S. expansion.

• Payments business pipeline remains strong, with sustainable or increasing growth rates anticipated.

• Ongoing investments in technology, marketing, and agent expansion to drive future growth.

• Anticipates absorbing $3M in annualized costs post-EBC exit, with ongoing expense streamlining into 2026.