Currency Exchange International Corp. reported a 3% decline in total revenue for the three-month period ended April 30, 2025, with revenue decreasing to $15.9 million from $16.4 million in the prior year. This decline was attributed to reduced consumer demand for foreign currency as travel activity tapered during the quarter. Despite the revenue drop, the company experienced a significant increase in net income for the second quarter, reporting a rise of 291% to $1.98 million, compared to the previous period. This increase was largely driven by the favorable impact of a weaker U.S. Dollar on the revaluation of foreign currency banknote holdings. The company's earnings per share $(EPS)$ also saw a notable improvement, with reported EPS at $0.32 on a basic basis and $0.31 on a fully diluted basis, compared to $0.08 in the prior year. Adjusted EPS was $0.37 and $0.36 on a basic and fully diluted basis, respectively, up from $0.30 and $0.29 in the prior year. For the six-month period, revenue increased by 3% to $31.3 million. Payments revenue grew by 11%, while banknotes revenue increased by 1%. Reported EBITDA for the six-month period rose by 13% to $8.8 million, and adjusted EBITDA was up by 16% to $9.0 million. The Group expanded its market penetration in the financial institutions sector in the United States, adding 124 new clients in the second quarter of 2025. Additionally, the Group's Payments product line continued to grow, benefiting from recent investments in core banking platform integrations, which allowed for an increase in processed payment transactions to 45,788 from 37,781 in the prior period. Currency Exchange International Corp. maintained a strong financial position with $81.2 million in total equity and $60.4 million in net working capital as of April 30, 2025.
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