Cardiff Lexington Announces First Quarter 2025 Financial Results
Cardiff Lexington (CDIX) reported strong financial results for Q1 2025, with total revenue increasing 26% year-over-year to $2.9 million. The company achieved significant growth in operating income, which rose 148% to $543,934. Gross profit increased 34% to $1.8 million, representing 63% of total revenue.
The company's expansion strategy, including opening several new Nova Ortho and Spine locations throughout Florida and the southeast US in 2024, has contributed to improved patient volume and service demand. As of March 31, 2025, Cardiff Lexington reported cash holdings of $996,758 and total assets of $25.3 million, marking a 6% increase. The company has also been working on streamlining its capital structure through the conversion of preferred shares to common stock.
Cardiff Lexington (CDIX) ha riportato risultati finanziari solidi per il primo trimestre del 2025, con un fatturato totale in crescita del 26% rispetto all'anno precedente, raggiungendo 2,9 milioni di dollari. L'azienda ha registrato una crescita significativa del reddito operativo, aumentato del 148% a 543.934 dollari. Il profitto lordo è aumentato del 34% a 1,8 milioni di dollari, rappresentando il 63% del fatturato totale.
La strategia di espansione dell'azienda, che ha incluso l'apertura di diverse nuove sedi Nova Ortho e Spine in Florida e nel sud-est degli Stati Uniti nel 2024, ha contribuito a un aumento del volume di pazienti e della domanda di servizi. Al 31 marzo 2025, Cardiff Lexington ha dichiarato disponibilità liquide pari a 996.758 dollari e un totale attivo di 25,3 milioni di dollari, con un incremento del 6%. L'azienda sta inoltre lavorando a una razionalizzazione della struttura del capitale attraverso la conversione di azioni privilegiate in azioni ordinarie.
Cardiff Lexington (CDIX) reportó sólidos resultados financieros en el primer trimestre de 2025, con ingresos totales que aumentaron un 26% interanual hasta 2,9 millones de dólares. La compañía logró un crecimiento significativo en el ingreso operativo, que se incrementó un 148% hasta 543,934 dólares. La ganancia bruta aumentó un 34% hasta 1,8 millones de dólares, representando el 63% de los ingresos totales.
La estrategia de expansión de la empresa, que incluyó la apertura de varias nuevas ubicaciones de Nova Ortho y Spine en Florida y el sureste de EE.UU. durante 2024, ha contribuido a mejorar el volumen de pacientes y la demanda de servicios. Al 31 de marzo de 2025, Cardiff Lexington reportó una caja de 996,758 dólares y activos totales por 25,3 millones de dólares, lo que representa un aumento del 6%. La compañía también ha estado trabajando en simplificar su estructura de capital mediante la conversión de acciones preferentes en acciones comunes.
카디프 렉싱턴(CDIX)은 2025년 1분기에 강력한 재무 실적을 보고했으며, 총 매출은 전년 동기 대비 26% 증가한 290만 달러를 기록했습니다. 영업이익은 148% 증가하여 543,934달러에 달했습니다. 총이익은 34% 증가한 180만 달러로, 총 매출의 63%를 차지했습니다.
회사는 2024년 플로리다 및 미국 남동부 지역에 여러 신규 Nova Ortho 및 Spine 지점을 개설하는 확장 전략을 통해 환자 수와 서비스 수요가 개선되었습니다. 2025년 3월 31일 기준으로 카디프 렉싱턴은 현금 보유액 996,758달러와 총 자산 2,530만 달러를 보고했으며, 이는 6% 증가한 수치입니다. 또한 우선주를 보통주로 전환하여 자본 구조를 간소화하는 작업도 진행 중입니다.
Cardiff Lexington (CDIX) a annoncé de solides résultats financiers pour le premier trimestre 2025, avec un chiffre d'affaires total en hausse de 26 % par rapport à l'année précédente, atteignant 2,9 millions de dollars. La société a enregistré une croissance significative du résultat opérationnel, qui a augmenté de 148 % pour atteindre 543 934 dollars. Le bénéfice brut a augmenté de 34 % pour atteindre 1,8 million de dollars, représentant 63 % du chiffre d'affaires total.
La stratégie d'expansion de l'entreprise, comprenant l'ouverture de plusieurs nouveaux sites Nova Ortho et Spine en Floride et dans le sud-est des États-Unis en 2024, a contribué à une augmentation du volume de patients et de la demande de services. Au 31 mars 2025, Cardiff Lexington a déclaré des liquidités de 996 758 dollars et un total d'actifs de 25,3 millions de dollars, soit une augmentation de 6 %. L'entreprise travaille également à simplifier sa structure de capital par la conversion d'actions privilégiées en actions ordinaires.
Cardiff Lexington (CDIX) meldete starke Finanzergebnisse für das erste Quartal 2025, mit einem Gesamtumsatz, der im Jahresvergleich um 26 % auf 2,9 Millionen US-Dollar gestiegen ist. Das Unternehmen erzielte ein erhebliches Wachstum beim Betriebsergebnis, das um 148 % auf 543.934 US-Dollar zunahm. Der Bruttogewinn stieg um 34 % auf 1,8 Millionen US-Dollar und machte 63 % des Gesamtumsatzes aus.
Die Expansionsstrategie des Unternehmens, die im Jahr 2024 die Eröffnung mehrerer neuer Nova Ortho- und Spine-Standorte in Florida und im Südosten der USA umfasste, trug zu einem verbesserten Patientenvolumen und einer höheren Dienstleistungsnachfrage bei. Zum 31. März 2025 meldete Cardiff Lexington liquide Mittel in Höhe von 996.758 US-Dollar und Gesamtvermögen von 25,3 Millionen US-Dollar, was einem Anstieg von 6 % entspricht. Das Unternehmen arbeitet zudem an der Straffung seiner Kapitalstruktur durch die Umwandlung von Vorzugsaktien in Stammaktien.
- None.
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26% increase in total revenue to$2.9 million compared to 1Q24Operating income increased
148% to$543,934
LEXINGTON, KY / ACCESS Newswire / May 13, 2025 / Cardiff Lexington Corporation (OTC PINK:CDIX) announced today financial results for its first quarter ended March 31, 2025.
Alex Cunningham, Chief Executive Officer of Cardiff Lexington, commented, "Our first quarter results were characterized by strong year-over-year growth in revenue, gross profit, and operating margin, as well as an increase in non-GAAP adjusted EBITDA compared to the prior year. Demand for our services is strong and patient volume is steadily improving. In 2024, we opened several new Nova Ortho and Spine locations in key population centers throughout Florida and the southeast US, and we are now seeing the benefits of this expansion. We believe that we are well positioned to achieve record revenues in 2025."
First Quarter 2025 Financial Results (Compared to First Quarter 2024)
Total revenue increased
26% to$2,915,567. Revenue in the first quarter of 2024 included a one-time non-cash adjustment of$339,834 t o better align first quarter revenue with 2024 annualized claim settlement realization rates. Non-GAAP adjusted revenue, excluding the one-time non-cash adjustment, was$2,661,966. First quarter 2025 revenue increased9.5% over first quarter 2024 non-GAAP revenueGross profit increased
34% to$1,840,533 , or63% of total revenueIncome from continuing operations increased
148% to$543,934 Non-GAAP adjusted EBITDA increased
5% to$545,702
Balance Sheet (March 31, 2025, compared to December 31, 2024)
Cash of
$996,758 6% increase in total assets to$25,330,628 Shareholders' equity of
$2,036,047
Alex Cunningham continued, "Since the beginning of the year, we have significantly streamlined our capital structure through the ongoing conversion of long-standing preferred shares to common stock. This provides us with a transformed cap table to better support the anticipated growth in our business while also enabling higher trading volume in our shares over time."
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About Cardiff Lexington Corporation:
Cardiff Lexington Corporation is a unique targeted healthcare holding company focused on locating, acquiring, and building middle market, niche companies, primarily in Orthopedics, Spine Care, and Pain Management. Fundamental to the Cardiff Lexington strategy is the service-based partnership culture which emphasizes core values, teamwork, accountability, and performance.
A substantial majority of the Company's revenue is derived from Nova Ortho and Spine, LLC, which operates a group of regional primary specialty and ancillary care facilities throughout Florida and Georgia that provide traumatic injury victims with a full range of diagnostic and surgical services, primary care evaluations, interventional pain management, and specialty consultation services.
For more information on Cardiff Lexington Corporation, you may access the company's website at https://cardifflexington.com/
FORWARD LOOKING STATEMENT: This news release contains forward looking statements within the meaning of the Securities Litigation Reform Act. The statements reflect the Company's current views with respect to future events that involve risks and uncertainties. These risks include the failure to meet schedule or performance requirements of the Company's business, the Company's liquidity position, the Company's ability to obtain new business, the emergence of competitors with greater financial resources, and the impact of competitive pricing. In the light of these uncertainties the forward-looking events referred to in this release might not occur.
Use of Non-GAAP Financial Measures
Cardiff Lexington Corporation prepares its consolidated financial statements in accordance with United States generally accepted accounting principles ("GAAP"). In addition to GAAP disclosures, this document contains financial information and measures considered to be "non-GAAP". These non-GAAP measures can be used in order to gain a more complete and accurate understanding of the Company's financial condition and results. Non-GAAP financial measures should be considered in conjunction with, and not as a substitute to GAAP financial measures.
Cardiff Lexington Investor Relations
investorsrelations@cardifflexington.com
(800) 628-2100 ext. 705
or
IMS Investor Relations
cardifflexington@imsinvestorrelations.com
(203) 972-9200
CARDIFF LEXINGTON CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS
FOR THE THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2024 AND 2023
(Unaudited)
For the Three Months Ended | ||||||||
Mar 31, | Mar 31, | |||||||
2025 | 2024 (Restated) | |||||||
Total revenue | $ | 2,915,567 | $ | 2,322,132 | ||||
Total cost of sales | 1,075,034 | 948,154 | ||||||
Gross profit | 1,840,533 | 1,373,978 | ||||||
Operating expenses | ||||||||
Depreciation expense | 3,365 | 3,365 | ||||||
Loss on disposal of fixed assets | 12,593 | 0 | ||||||
Stock compensation expense | 0 | 300,225 | ||||||
Selling, general and administrative | 1,280,641 | 851,396 | ||||||
Total operating expenses | 1,296,599 | 1,154,986 | ||||||
Income from continuing operations | 543,934 | 218,992 | ||||||
Other income (expense): | ||||||||
Other expense | (1,597 | ) | 0 | |||||
Penalties and fees | 0 | (1,000 | ) | |||||
Interest expense | (993,114 | ) | (376,269 | ) | ||||
Amortization of debt discounts | 0 | (13,515 | ) | |||||
Total other expense | (994,711 | ) | (390,784 | ) | ||||
Net loss before discontinued operations | (450,777 | ) | (171,792 | ) | ||||
Loss from discontinued operations | 0 | (111,312 | ) | |||||
Net loss | $ | (450,777 | ) | $ | (283,104 | ) | ||
CARDIFF LEXINGTON CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 31, 2024 AND DECEMBER 31, 2023
(Unaudited)
March 31, | December 31, | |||||||
2025 | 2025 | |||||||
ASSETS | ||||||||
Current assets | ||||||||
Cash | $ | 996,758 | $ | 1,188,185 | ||||
Accounts receivable-net | 17,502,055 | 15,934,490 | ||||||
Prepaid and other current assets | 111,691 | 89,901 | ||||||
Total current assets | 18,610,504 | 17,212,576 | ||||||
Property and equipment, net | 5,239 | 21,198 | ||||||
Land | 540,000 | 540,000 | ||||||
Goodwill | 5,666,608 | 5,666,608 | ||||||
Right of use - assets | 432,127 | 406,950 | ||||||
Due from related party | 4,979 | 4,979 | ||||||
Other assets | 71,171 | 73,368 | ||||||
Total assets | $ | 25,330,628 | $ | 23,925,679 | ||||
LIABILITIES, MEZZANINE EQUITY AND DEFICIENCY IN STOCKHOLDERS' EQUITY | ||||||||
Current liabilities | ||||||||
Accounts payable and accrued expense | $ | 1,605,431 | $ | 1,379,760 | ||||
Accrued expenses - related parties | 4,608,980 | 4,553,057 | ||||||
Accrued interest | 530,973 | 429,200 | ||||||
Right of use - liability | 278,025 | 223,330 | ||||||
Notes - current portion | 315,857 | 312,180 | ||||||
Line of credit | 10,210,485 | 8,645,991 | ||||||
Convertible notes payable, net of debt discounts of | 105,000 | 105,000 | ||||||
Net liabilities of discontinued operations | 238,285 | 238,285 | ||||||
Total current liabilities | 17,893,036 | 15,886,803 | ||||||
Other liabilities | ||||||||
Notes payable | 176,177 | 251,725 | ||||||
Operating lease liability - long term | 161,303 | 185,877 | ||||||
Total liabilities | 18,230,516 | 16,324,405 | ||||||
Mezzanine equity | ||||||||
Redeemable Series N Senior Convertible Preferred Stock - 3,000,000 shares authorized, | 3,448,398 | 3,339,317 | ||||||
Redeemable Series X Senior Convertible Preferred Stock - 5,000,000 shares authorized, | 1,615,667 | 1,576,788 | ||||||
Total Mezzanine Equity | 5,064,065 | 4,916,105 | ||||||
Stockholders' equity | ||||||||
Series B Preferred Stock - 3,000,000 shares authorized, | 5,069,868 | 5,119,468 | ||||||
Series C Preferred Stock - 500 shares authorized, | 296 | 296 | ||||||
Series E Preferred Stock - 1,000,000 shares authorized, | 701,500 | 701,500 | ||||||
Series F-1 Preferred Stock - 50,000 shares authorized, | 15,500 | 15,500 | ||||||
Series I Preferred Stock - 15,000,000 shares authorized, | 41,866,368 | 41,876,368 | ||||||
Series L Preferred Stock - 400,000 shares authorized, | 1,277,972 | 1,277,972 | ||||||
Series Y Senior Convertible Preferred Stock - 1,250,000 shares authorized, | 3,963,600 | 3,916,500 | ||||||
Common Stock; 300,000,000 shares authorized, | 15,330 | 15,300 | ||||||
Additional paid-in capital | 22,770,920 | 22,711,350 | ||||||
Accumulated deficit | (73,645,307 | ) | (72,949,085 | ) | ||||
Total stockholders' equity | 2,036,047 | 2,685,169 | ||||||
Total liabilities, mezzanine equity and stockholders' equity | $ | 25,330,628 | $ | 23,925,679 | ||||
CARDIFF LEXINGTON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES FOR THE THREE AND TWELVE MONTHS ENDED DECMBER 31, 2024 AND 2023
(Unaudited)
The following table reconciles Net (loss) income before discontinued operations (a GAAP measure) to EBITDA (a non-GAAP measure)
For the Three Months Ended | ||||||||
March 31, | ||||||||
2025 | 2024 (Restated) | |||||||
EBITDA (1) | ||||||||
Net loss before discontinued operations | $ | (450,777 | ) | $ | (171,792 | ) | ||
Add: | ||||||||
Interest | 993,114 | 376,269 | ||||||
Taxes | 0 | 0 | ||||||
Depreciation | 3,365 | 3,365 | ||||||
Amortization | 0 | 13,515 | ||||||
EBITDA (1) | $ | 545,702 | $ | 221,357 | ||||
Adjusted EBITDA (2) | ||||||||
EBITDA | $ | 545,702 | $ | 221,357 | ||||
Add: | ||||||||
Stock compensation expense for shares issued | 0 | 300,225 | ||||||
Adjusted EBITDA (2) | $ | 545,702 | $ | 521,582 | ||||
(1) EBITDA is a non-GAAP financial measure defined as Earnings Before Interest, Income Tax, Depreciation and Amortization. | ||||||||
(2) Adjusted EBITDA is a non-GAAP financial measure that is the sum of EBITDA plus non-recurring and non-cash charges. | ||||||||
Adjusted EBITDA excluding other non-recurring costs (3) | ||||||||
Adjusted EBITDA | $ | 545,702 | $ | 521,582 | ||||
Add: | ||||||||
Scaling and restructuring costs for business growth | 0 | 87,360 | ||||||
Acquisition related costs | 56,635 | 0 | ||||||
Adjusted EBITDA excluding other non-recurring costs (3) | $ | 602,336 | $ | 608,942 | ||||
CARDIFF LEXINGTON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF REVENUE FOR THE THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2024
(Unaudited)
For the Three Months Ended | For the Three Months Ended | |||||||
March 31, 2025 | March 31, 2024 | |||||||
GAAP Revenue | $ | 2,915,567 | $ | 2,322,132 | ||||
Adjustments to Claim Settlement Realization Rate | - | 339,834 | ||||||
Non-GAAP Adjusted Revenue | 2,915,567 | 2,661,966 | ||||||
SOURCE: Cardiff Lexington Corporation
View the original press release on ACCESS Newswire
