Canada · Delayed Price · Currency is CAD Currency Exchange International Earnings Call Transcripts
Fiscal Year 2026
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Q3 2026 delivered 5% revenue growth, led by a 54% surge in payments, offsetting a 4% decline in banknotes. Adjusted EBITDA rose 3% and adjusted net income jumped 31%. Management expects continued growth in payments and a rebound in banknotes as travel recovers.
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Q2 2026 revenue rose 13% year-over-year, led by a 73% surge in payments revenue, while banknotes growth was modest. Discontinued operations from EBC are now fully recognized, and the company is focused on payments expansion, SaaS offerings, and retail growth.
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Q1 2026 saw net income rise 88% sequentially, with stable revenue and strong payments growth offsetting weaker banknotes. EBC's exit nears completion, and cash reserves remain robust, supporting ongoing expansion and share buybacks.
Fiscal Year 2025
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Net income surged 317% year-over-year to $10.3M, with strong growth in payments and direct-to-consumer banknotes. The company completed its exit from Canada, focusing on U.S. expansion, robust cash reserves, and ongoing share buybacks.
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Q3 2025 saw 7% revenue growth and 8% net income growth, driven by strong payments and direct-to-consumer banknotes. The discontinuance of Canadian operations is nearly complete, with U.S. operations now the focus for growth, efficiency, and share buybacks.
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Q2 2025 saw adjusted net income rise 18% year-over-year to $2.3 million, with revenue from continuing operations at $16 million, down 3% due to softer banknotes demand but offset by payments growth. The EBC exit is on track, and the company maintains strong liquidity and a robust growth pipeline.
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Revenue grew 10% year-over-year to nearly $20 million, with adjusted net income up 29% to $1.1 million. The group is exiting its Canadian banking operations, focusing on US growth, and expects the exit to positively impact results.
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Operations of the Canadian subsidiary will be discontinued, with resources redirected to US fintech and payment growth. One-time costs are expected, but profitability should be maintained, and Canadian losses eliminated. More financial details will be provided in the Q1 update.
Fiscal Year 2024
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Fiscal 2024 saw 4% revenue growth and flat adjusted net income, with reported net income down due to $7.7 million in non-recurring Canadian charges. U.S. operations drove growth, while a strategic review of Canadian operations is underway.
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Q3 2024 saw 2% revenue growth and stable net income, with U.S. operations strong and Canadian results pressured by lower payments margins and inflation. Strategic investments in technology, new facilities, and share buybacks support future growth, while management targets profitability for the Canadian subsidiary.
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Q2 2024 saw 7% revenue growth to $20M, driven by strong U.S. payments and banknotes, while net income fell due to a $1.4M deferred tax expense. U.S. operations outperformed Canada, and technology investments and share buybacks continued.