Currency Exchange International Announces a 10% Increase in Revenue for the first quarter of 2025 Versus the Prior Year

About this update from Currency Exchange International, Corp.

[{"type":"text","content":"Currency Exchange International Announces a 10% Increase in Revenue for the first quarter of 2025 Versus the Prior Year\n\n\n\n TORONTO, March 12, 2025 (GLOBE NEWSWIRE) -- Currency Exchange International, Corp. (the “Group” or “CXI”) (TSX: CXI; OTC: CURN), today reported net income of $0.8 million for the first quarter of 2025, 4% lower than the prior year (all figures are in U.S. dollars except where otherwise indicated). This 2025 reported net income reflected $1.7 million net income in the United States and a net loss of $0.9 million in Canada. These results include certain one-time third-party advisory costs of $0.3 million related to regulatory compliance requirements imposed on EBC. Excluding this item, adjusted net income\n \n 1\n \n increased 29% compared to the prior year and adjusted diluted earnings per share\n \n 1\n \n (“EPS”) was 31% higher than the prior year. The completed condensed interim consolidated financial statements and management’s discussion and analysis (“MD&A”) can be found on the Group’s SEDAR profile at\n \n www.sedarplus.ca\n \n .\n \n\n\n\n Q1, 2025 Reported Results\n \n\n\n EBITDA $3.1 million\n \n\n Up 33% YoY\n \n\n\n Net Income $0.8 million\n \n\n Down 4% YoY\n \n\n\n Diluted EPS $0.12\n \n\n Down 8% YoY\n \n\n\n Annualized ROE 3%\n \n\n Down 75% YoY\n \n\n\n\n Q1, 2025 Adjusted Results\n \n 1\n \n\n\n\n EBITDA\n \n\n\n 1\n \n\n\n $3.4 million\n \n\n Up 45% YoY\n \n\n\n Net Income\n \n\n\n 1\n \n\n\n $1.1 million\n \n\n Up 29% YoY\n \n\n\n Diluted EPS\n \n\n\n 1\n \n\n\n $0.17\n \n\n Up 31% YoY\n \n\n\n ROE\n \n\n\n 1\n \n\n\n 12%\n \n\n Flat YoY\n \n\n\n\n\n\n\n\n\n\n\n\n\n\n\n\n The Group’s revenue was 10% higher than the prior year reflecting overall growth, of which 9% was achieved in the United States and 13% was achieved in Canada. Revenue in the United States represented 77% (78% in the prior year) while Canada represented 23% (22% in the prior year). The Group’s capital position remained robust, and liquidity was strong with $79.4 million in total equity and $73.6 million in net working capital as of January 31, 2025.\n \n\n On February 18, 2025, the Group announced its decision to cease the operations of its wholly owned subsidiary, Exchange Bank of Canada. This strategic decision and operational p...

More updates from Currency Exchange International, Corp.