CXI Q2 revenue rises 13% to $18 million, adjusted EPS climbs
Currency Exchange International reported a 13% increase in Q2 revenue to $18.0 million, fueled by a 73% jump in Payments revenue, while adjusted EPS grew to $0.40. A reported net loss of $4.2 million was driven by losses from discontinued operations following the exit of its EBC subsidiary.
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Currency Exchange International, Corp. reported revenue of $18.0 million for the second quarter of 2026, a 13% increase from the prior year, driven by a 73% surge in Payments revenue. The company posted a reported net loss of $4.2 million, largely due to a $6.6 million loss from discontinued operations following the completion of its subsidiary EBC's exit from Canada. Excluding these and other non-recurring charges, adjusted net income remained stable at $2.4 million, with adjusted diluted earnings per share rising 8% to $0.40.
The Payments segment grew by $2.0 million, reflecting a 43% increase in business trading volumes to $2.0 billion, while Banknotes revenue increased marginally by 1% to $15.9 million. Reported EBITDA decreased 8% to $4.5 million, while Adjusted EBITDA stood at $4.7 million. The Group maintained a robust capital position with $85 million in total equity and $80 million in net working capital as of April 30, 2026.
Financial Performance Summary
| Metric | Q2 2026 | Q2 2025 | Change |
|---|---|---|---|
| Revenue | $18.0 million | $15.9 million | +13% |
| Adjusted EPS | $0.40 | $0.37 | +8% |
| Reported Net Loss | $(4.2) million | $2.0 million | -311% |
| Adjusted Net Income | $2.4 million | $2.4 million | 0% |
During the quarter, the Group purchased and cancelled 211,500 common shares for $3.6 million under a Normal Course Issuer Bid. Corporate highlights include the addition of the State of North Dakota to its OnlineFX platform, expanding its licensing to 48 states plus the District of Columbia, and the onboarding of 86 new financial institution clients in the Wholesale Banknotes market.
Can the 73% surge in Payments revenue be sustained throughout the remainder of 2026 given current market volatility?
How will management deploy the company's robust $80 million in net working capital following the completion of the Canadian exit?
What are the revenue expectations for the newly onboarded 86 Wholesale Banknotes clients over the next 12 months?
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