Star Metro - Currency Exchange International Reports Fourth Quarter and Fiscal 2025 Results

Excluding these restructuring and non-recurring charges, adjusted net income from continuing operations increased to $14.5 million, up by 10%, the Group's adjusted net income increased to $10.8 million, up by 6%, and the Group's adjusted diluted earnings per share1 ("EPS") increased to $1.77, up by 13%. All figures are in U.S. dollars except where otherwise indicated. The completed consolidated financial statements and management's discussion and analysis ("MD&A") can be found on the Group's SEDAR profile at www.sedarplus.ca.

Below is a reconciliation of reported results to adjusted results based on the non-recurring items:

The Group's revenue was 5% higher than the prior year reflecting growth in both Payments and Banknotes. Payments revenue grew 19% as trading volumes increased 31% from the prior year, outlining the continued organic growth that CXI achieved as a result of investment in core banking platform integrations. Banknotes revenue also grew by 3% as a result of expanding the OnlineFX platform network and increasing outreach to new customers through growing agency relationships. The Group's capital position remained robust, and liquidity was strong with $84.7 million in total equity and $73.4 million in net working capital as of October 31, 2025 ($79.4 million and $55.9 million as of October 31, 2024, respectively).

On February 18, 2025, the Group announced its decision to cease the operations of its wholly owned subsidiary, EBC. This strategic decision and operational plan for restructuring were communicated to all staff of EBC on February 19, 2025. Starting the second quarter of 2025, EBC was classified as a discontinued operation in the Group's consolidated financial statements. As of October 31, 2025, EBC has ceased operations, and on December 19, 2025 issued its audited financial statements for the year ended October 31, 2025. EBC has also formally applied for approval from the Minister of Finance in Canada to discontinue from the Bank Act. Once final regulatory approval has been obtained, the board of directors plans to liquidate the remaining assets and liabilities of EBC and distribute those net assets to CXI, its sole shareholder. As part of the exit strategy, management has anticipated that certain personnel and other operating expenses that have been shared with EBC in the past will be 100% borne by the continuing operations of CXI, and the current annualized estimate of these costs is approximately $3 million after tax. During the fourth quarter of 2025, CXI started to absorb most of these costs and will continue to streamline its expenses throughout the rest of the exit process in 2026 (refer to "Forward-looking information" below).

During the year ended October 31, 2025, the Group purchased for cancellation 312,300 common shares at normal market prices trading on the TSX for $4.76 million under a Normal Course Issuer Bid ("NCIB"). These shares were cancelled and removed from treasury stock.

On May 20, 2025, CXI upgraded its U.S. securities listing its shares commencing trading on the OTCQX Best Market under the symbol CURN.

Randolph Pinna, CEO of the Group, stated, "In 2025, CXI delivered strong performance across all units of the business. As demonstrated in these results, CXI achieved impressive growth within the Payments segment and continued to expand service offerings in both Wholesale and Direct-to-Consumer Banknotes segments. These achievements reflect CXI's strategic focus and its position as a leading provider of foreign currency technology and transaction processing solutions. The 2025 results further demonstrated the resilience of our diversified business model and the strength of our capital position.
Our strategic priorities remain centered on expanding CXI's payments and cash businesses in both our wholesale and Direct-to-Consumer offerings. Looking ahead, CXI will continue to expand its systems, pursue strategic targeted growth initiatives, while maintaining disciplined expense management. CXI management team and I remain firmly committed to executing our strategic plan- of maximizing revenue streams to support net earnings growing, and enhancing return on capital- all with the objective of increasing long-term value for CXI's shareholders."

Financial Highlights for the three-month periods ended October 31, 2025 and 2024:

• Revenue increased by 8% or $1.4 million to $19.9 million compared to $18.5 million. Banknotes revenue increased by 4% or $0.6 million over the prior period while Payments revenue increased by 31% or $0.8 million;
• Reported EBITDA increased by 4% or $0.2 million to $6.3 million from $6.1 million. Adjusted EBITDA was $6.8 million, 10% higher than the prior period;
• Reported Group net income was $3.3 million, a 216% increase compared to the prior period. Adjusted Group net income2 increased 19% or $0.5 million to $3.3 million from $2.8 million in the prior period;
• Reported earnings per share were $0.54 and $0.53 on a basic and fully diluted basis, respectively, compared to reported loss per share of $0.45 in the prior year on a basic and fully diluted basis. Adjusted earnings per share2 were $0.54 on a basic and fully diluted basis, compared to $0.44 and $0.42, respectively in the prior period; and
• The Group maintained a strong financial position, with net working capital of $73.4 million and total equity of $84.7 million as of October 31, 2025.
Financial Highlights for the years ended October 31, 2025 and 2024:
• Revenue increased by 5% or $3.5 million to $72.4 million compared to $68.9 million. Payments revenue increased by 19% or $2.0 million and Banknotes revenue increased by 3% or $1.5 million over the prior period;
• Reported EBITDA increased by 7% or $1.6 million to $23.3 million from $21.7 million. Adjusted EBITDA3 was $24.0 million, 10% higher than the prior period;
• Reported Group net income was $10.3 million, a 317% increase compared to the prior period due to several non-recurring charges reported on the discontinued operations in the prior year. Adjusted Group net income3 increased 6% or $0.6 million to $10.8 million from $10.2 million in the prior period; and
• Reported earnings per share were $1.70 and $1.69 on a basic and fully diluted basis, respectively, compared to the prior year's reported earnings per share of $0.39 and $0.38. Adjusted earnings per share3 were $1.79 and $1.77 on a basic and fully diluted basis, respectively, compared to the prior year's adjusted earnings per share of $1.62 and $1.56, respectively.

Corporate Highlights for the three-month period ended October 31, 2025:

• The Payments business continued to grow as trading volumes increased 40% from the prior period. The Group processed 59,862 payment transactions, representing $2.0 billion in business in the fourth quarter compared to 43,452 payment transactions, representing $1.5 billion in the prior period;
• The Direct-to-Consumer Banknotes market maintained its positive trajectory through the Group's network of company-owned branch locations, agent partnerships, and, in most states, via the OnlineFX platform. In the fourth quarter of 2025, the Group established a new company-owned location at Woodbury Common Premium Outlets in New York, expanded its OnlineFX network to include the State of South Carolina, and launched 51 net new non-airport locations throughout the United States by leveraging existing agency partnerships; and
• The Group increased its banknotes market penetration into the financial institutions sector in the United States with the addition of 25 new financial institutions clients in the fourth quarter of 2025.

Selected Financial Data
The following table summarizes the performance of the Group over the last eight fiscal quarters:

Earnings Conference Call Details
CXI plans to host a conference call on Thursday, January 22, 2026, at 8:30 AM (EST).

To participate in or listen to the call, please dial the appropriate number:

Toll Free - North America: (+1) 800 717 1738

Conference ID Number: 67127

About Currency Exchange International, Corp.
Currency Exchange International is in the business of providing comprehensive foreign exchange technology and processing services for banks, credit unions, businesses, and consumers in the United States and select clients globally. Primary products and services include the exchange of foreign currencies, wire transfer payments, Global EFTs, and foreign cheque clearing. Wholesale customers are served through its proprietary FX software applications delivered on its web-based interface, www.cxifx.com ("CXIFX"), its related APIs with core banking platforms, and through personal relationship managers. Consumers are served through Group-owned retail branches, agent retail branches, and its e-commerce platform, order.ceifx.com ("OnlineFX").

Contact Information
For further information please contact:
Bill Mitoulas
Investor Relations
(416) 479-9547
Email: [email protected]
Website: www.cxifx.com

KEY PERFORMANCE AND NON-GAAP FINANCIAL MEASURES
The Group prepares its consolidated financial statements in accordance with IFRS Accounting Standards as issued by the International Accounting Standards Board (IFRS Accounting Standards) and refers to these results as reported in these financial statements as "reported results". In addition to reported results, the Group also presents certain financial measures, including non-GAAP financial measures and ratios, such as adjusted net income and adjusted Return On Equity (ROE) to assess its businesses and to measure the Group's overall performance of the consolidated operations and each of its product lines. These financial measures and ratios do not have standardized meanings under Generally Accepted Accounting Principles (GAAP), which are based on IFRS Accounting Standards and may not be comparable to similar measures used by other companies. These non-GAAP financial measures and ratios are collectively referred to in this document as "adjusted results". The Group's management believes that providing the adjusted results along with the reported results is more reflective of the Group's consolidated operating results, provides the readers of this document with a better understanding of management's perspective on the performance, and improves the comparability of financial performance for the currently presented period with the corresponding period in the prior year.

CAUTIONARY STATEMENT REGARDING FORWARD-LOOKING INFORMATION
This press release includes forward-looking information within the meaning of applicable securities laws. This forward-looking information includes, or may be based upon, estimates, forecasts, and statements as to management's expectations with respect to, among other things, demand and market outlook for wholesale and retail foreign currency exchange products and services, future growth, the timing and scale of future business plans, results of operations, performance, and business prospects and opportunities. Forward-looking statements are identified by the use of terms and phrases such as "anticipate", "believe", "could", "estimate", "expect", "intend", "may", "plan", "predict", "preliminary", "project", "will", "would", and similar terms and phrases, including references to assumptions.
Forward-looking information is based on the opinions and estimates of management at the date such information is provided, and on information available to management at such time. Forward-looking information involves significant risks, uncertainties and assumptions that could cause the Group's actual results, performance, or achievements to differ materially from the results discussed or implied in such forward-looking information. Actual results may differ materially from results indicated in forward-looking information due to a number of factors including, without limitation, the competitive nature of the foreign exchange industry; evolving worldwide geopolitical developments and pandemics including COVID-19 all of which may continue to have a material adverse effect on global economic activity, and may continue to result in volatility and disruption to global supply chains, operations, mobility of people and the financial markets which impact personal and business travel, tourism and factors relevant to the Group's business; global economic deterioration negatively impacting tourism in general; currency exchange risks, the need for the Group to manage its planned growth, the effects of product development and the need for continued technological change, protection of the Group's proprietary rights, the effect of government regulation and compliance on the Group and the industry in which it operates, network security risks, the ability of the Group to maintain properly working systems, theft and risk of physical harm to personnel, reliance on key management personnel; volatile securities markets impacting security pricing in a manner unrelated to operating performance and impeding access to capital or increasing the cost of capital as well as the factors identified throughout this press release and in the section entitled "Risks and Uncertainties" of the Group's Management's Discussion and Analysis for the three-month periods and years ended October 31, 2025 and 2024. Forward-looking information contained in this press release represents management's expectations as of the date hereof (or as of the date such information is otherwise stated to be presented) and is subject to change after such date. The Group disclaims any intention or obligation to update or revise any forward-looking information whether as a result of new information, future events or otherwise, except as required under applicable securities laws.
The Toronto Stock Exchange does not accept responsibility for the adequacy or accuracy of this press release. No stock exchange, securities commission or other regulatory authority has approved or disapproved the information contained in this press release.

SOURCE: Currency Exchange International, Corp.

View the original press release on ACCESS Newswire

G.Boudreau--SMC