Cardiff Lexington Announces Second Quarter 2025 Financial Results
Cardiff Lexington (OTCQB:CDIX) reported strong Q2 2025 financial results, with total revenue increasing 89.5% to $2.8 million compared to Q2 2024. The company achieved significant improvements across key metrics, including a 149.8% increase in gross profit to $1.7 million and a 482.3% rise in income from continuing operations to $610,000.
Operating through 12 Nova Ortho & Spine locations in Florida and Georgia, the company demonstrated robust operational performance with gross margins reaching 60.8%. However, net loss widened to $1.2 million, primarily due to increased interest expenses of $1.8 million related to the company's line of credit. Non-GAAP adjusted EBITDA improved to $708,000 compared to a loss of $76,000 in Q2 2024.
Cardiff Lexington (OTCQB:CDIX) ha comunicato risultati solidi per il secondo trimestre 2025: i ricavi totali sono cresciuti dell'89,5% raggiungendo $2,8 milioni rispetto al Q2 2024. L'azienda ha registrato miglioramenti significativi nei principali indicatori, con un utile lordo aumentato del 149,8% a $1,7 milioni e un utile dalle attività in corso salito del 482,3% a $610.000.
Operando tramite 12 sedi Nova Ortho & Spine in Florida e Georgia, la società ha mostrato una solida performance operativa con margini lordi al 60,8%. Tuttavia, la perdita netta si è ampliata a $1,2 milioni, principalmente a causa di maggiori oneri finanziari per interessi pari a $1,8 milioni legati alla linea di credito. L'EBITDA rettificato non-GAAP è migliorato a $708.000 rispetto alla perdita di $76.000 del Q2 2024.
Cardiff Lexington (OTCQB:CDIX) presentó sólidos resultados del segundo trimestre de 2025: los ingresos totales aumentaron un 89,5% hasta $2,8 millones frente al Q2 de 2024. La compañía logró mejoras importantes en métricas clave, con un beneficio bruto que subió un 149,8% a $1,7 millones y un incremento del 482,3% en el resultado de operaciones continuadas hasta $610.000.
Operando en 12 centros Nova Ortho & Spine en Florida y Georgia, la empresa mostró un sólido desempeño operativo con márgenes brutos del 60,8%. No obstante, la pérdida neta se amplió hasta $1,2 millones, debido principalmente a mayores gastos por intereses de $1,8 millones vinculados a la línea de crédito. El EBITDA ajustado non-GAAP mejoró hasta $708.000 frente a la pérdida de $76.000 en el Q2 de 2024.
Cardiff Lexington (OTCQB:CDIX)는 2025년 2분기 실적이 견조했다고 발표했습니다. 총매출은 전년 동기 대비 89.5% 증가한 $2.8백만을 기록했습니다. 핵심 지표도 크게 개선되어 매출총이익이 149.8% 증가한 $1.7백만, 계속영업이익이 482.3% 증가한 $61만을 달성했습니다.
플로리다와 조지아에 있는 12개 Nova Ortho & Spine 지점을 통해 운영되는 이 회사는 60.8%의 높은 매출총이익률로 견실한 영업성과를 보였습니다. 다만 신용 한도 관련 이자 비용 증가로 순손실은 $1.2백만으로 확대되었습니다(이자비용 $1.8백만). 비GAAP 조정 EBITDA는 Q2 2024의 $76천 손실에서 $708천 흑자로 개선되었습니다.
Cardiff Lexington (OTCQB:CDIX) a annoncé de solides résultats pour le deuxième trimestre 2025 : le chiffre d'affaires total a augmenté de 89,5% pour atteindre $2,8 millions par rapport au T2 2024. La société a enregistré des améliorations significatives sur les principaux indicateurs, avec un profit brut en hausse de 149,8% à $1,7 million et une hausse de 482,3% du résultat des activités poursuivies à $610 000.
Opérant via 12 sites Nova Ortho & Spine en Floride et en Géorgie, l'entreprise a démontré une performance opérationnelle robuste avec des marges brutes de 60,8%. Cependant, la perte nette s'est aggravée à $1,2 million, principalement en raison d'une augmentation des charges d'intérêts de $1,8 million liées à la ligne de crédit. L'EBITDA ajusté non-GAAP s'est amélioré à $708 000 contre une perte de $76 000 au T2 2024.
Cardiff Lexington (OTCQB:CDIX) meldete starke Finanzergebnisse für das zweite Quartal 2025: der Gesamtumsatz stieg im Vergleich zum Q2 2024 um 89,5% auf $2,8 Mio. Das Unternehmen verzeichnete deutliche Verbesserungen bei zentralen Kennzahlen, darunter ein Bruttogewinnanstieg von 149,8% auf $1,7 Mio. und ein Anstieg des Ergebnis aus fortgeführten Geschäftstätigkeiten um 482,3% auf $610.000.
Mit 12 Standorten von Nova Ortho & Spine in Florida und Georgia zeigte das Unternehmen eine robuste operative Leistung mit Bruttomargen von 60,8%. Die Nettoverlustsumme weitete sich jedoch auf $1,2 Mio. aus, hauptsächlich wegen gestiegener Zinsaufwendungen in Höhe von $1,8 Mio. im Zusammenhang mit der Kreditlinie. Das Non-GAAP bereinigte EBITDA verbesserte sich auf $708.000 gegenüber einem Verlust von $76.000 im Q2 2024.
- Revenue growth of 89.5% year-over-year to $2.8 million
- Gross profit surged 149.8% to $1.7 million with improved margins of 60.8%
- Income from continuing operations increased 482.3% to $610,000
- Non-GAAP adjusted EBITDA turned positive at $708,000 from previous loss
- Strong patient volume growth across 12 locations
- Net loss widened to $1.2 million from $132,000 in Q2 2024
- Interest expense significantly increased to $1.8 million from $41,000
- Operating expenses rose to $1.1 million from $838,000
- Required restatement of cash flow classification for internal controls
89.5% increase in total revenue to$2.8 million compared to 2Q24149.8% increase in gross profit to$1.7 million compared to 2Q24482.3% increase in income from continuing operations to$610,000 compared to 2Q24
LEXINGTON, KY / ACCESS Newswire / August 26, 2025 / Cardiff Lexington Corporation (OTCQB:CDIX) today announced financial results for the second quarter ended June 30, 2025.
Alex Cunningham, Chief Executive Officer of Cardiff Lexington, commented, "We delivered strong revenue growth in the second quarter of 2025, as well as significantly enhanced gross margins, income from continuing operations, and non-GAAP adjusted EBITDA when compared to the second quarter of 2024. Demand is strong and growing, as evidenced by the increased patient volume we're seeing across our 12 Nova Ortho & Spine locations, which are strategically positioned throughout population centers in Florida and Georgia. With our visibility today, we believe that we are well positioned to expand our footprint of locations through a strategic combination of organic growth and accretive M&A, as well as increase operating capacity at our existing locations to drive long-term growth and value for our shareholders."
Second Quarter 2025 Financial Results
Total revenue increased
Gross profit increased
Total operating expenses increased to
Income from continuing operations increased
Net loss in the second quarter of 2025 was (
Non-GAAP adjusted EBITDA, which excludes interest expense, increased to
During the second quarter of 2025, as part of the Company's ongoing enhancements to internal controls over financial reporting, a detailed review of its interest expense-related cash flow classification was performed. As a result, the Company restated certain amounts within the condensed consolidated statement of cash flows for the six months ended June 30, 2024. This was reclassified to correct the presentation of
Year-to-Date Financial Highlights
Total revenue increased
Gross profit increased
Total operating expenses increased to
Operating income increased to
Net loss in the first six months of 2025 was (
Non-GAAP adjusted EBITDA, which excludes interest expense, increased
Balance Sheet
Cash totaled
Total assets increased
Total stockholders' equity was
Conference Call
Cardiff Lexington will hold a conference call and webcast for investors today, August 26, 2025, at 9:00 a.m. Eastern Time.
Shareholders and interested parties may participate in the conference call by dialing (888) 506-0062 and international participants should dial (973) 528-0011 and use access code: 861636. The call and the accompanying slide deck will also be webcast at:
https://www.webcaster4.com/Webcast/Page/3131/52897
The conference call and slide deck may also be accessed via the Investor Relations page of the Company's website at https://investor.cardifflexington.com/overview/default.aspx. Please allow extra time prior to the call to visit the site.
An online archive of the webcast will be available on the Investor Relations page of the Company's website following the call at https://investor.cardifflexington.com/overview/default.aspx. A replay of the conference call will be available one hour after completion of the call until Tuesday, September 9, 2025, by dialing (877) 481-4010 and international participants should dial (919) 882-2331. All callers must use access code 52897 to access the replay.
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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 SIX MONTHS ENDED JUNE 30, 2025, AND 2024
(Unaudited)
For the Three Months Ended | For the Six Months Ended | |||||||||||||||
June 30, | June 30, | June 30, | June 30, | |||||||||||||
2025 | 2024 (Restated) | 2025 | 2024 (Restated) | |||||||||||||
Total revenue | $ | 2,789,007 | $ | 1,471,643 | $ | 5,704,574 | $ | 3,793,775 | ||||||||
Total cost of sales | 1,093,748 | 793,010 | 2,168,782 | 1,741,164 | ||||||||||||
Gross profit | 1,695,259 | 678,633 | 3,535,792 | 2,052,611 | ||||||||||||
Operating expenses | ||||||||||||||||
Depreciation expense | 763 | 3,366 | 4,128 | 6,731 | ||||||||||||
Loss on disposal of fixed assets | 0 | 0 | 12,593 | 0 | ||||||||||||
Stock compensation expense | 97,500 | 0 | 97,500 | 300,225 | ||||||||||||
Selling, general and administrative | 987,319 | 834,750 | 2,267,960 | 1,686,146 | ||||||||||||
Total operating expenses | 1,085,582 | 838,116 | 2,382,181 | 1,993,102 | ||||||||||||
Income (loss) from continuing operations | 609,677 | (159,483 | ) | 1,153,611 | 59,509 | |||||||||||
Other (expense) income : | ||||||||||||||||
Other income (expense) | 0 | 2,047 | (1,597 | ) | 2,047 | |||||||||||
Gain on debt refinance, forgiveness and settlement | 0 | 78,834 | 0 | 78,834 | ||||||||||||
Penalties and fees | 0 | (330 | ) | 0 | (1,330 | ) | ||||||||||
Interest expense | (1,836,072 | ) | (41,347 | ) | (2,829,186 | ) | (417,616 | ) | ||||||||
Amortization of debt discounts | 0 | (11,306 | ) | 0 | (24,821 | ) | ||||||||||
Total other (expense) income | (1,836,072 | ) | 27,898 | (2,830,783 | ) | (362,886 | ) | |||||||||
Net loss before discontinued operations | (1,226,395 | ) | (131,585 | ) | (1,677,172 | ) | (303,377 | ) | ||||||||
Loss from discontinued operations | 0 | 0 | 0 | (111,312 | ) | |||||||||||
Net loss | $ | (1,226,395 | ) | $ | (131,585 | ) | $ | (1,677,172 | ) | $ | (414,689 | ) | ||||
CARDIFF LEXINGTON CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF JUNE 30, 2025, AND DECEMBER 31, 2024
(Unaudited)
June 30, | December 31, | |||||||
2025 | 2024 | |||||||
ASSETS | ||||||||
Current assets | ||||||||
Cash | $ | 559,715 | $ | 1,188,185 | ||||
Accounts receivable-net | 19,193,419 | 15,934,490 | ||||||
Prepaid and other current assets | 114,398 | 89,901 | ||||||
Total current assets | 19,867,532 | 17,212,576 | ||||||
Property and equipment, net | 4,477 | 21,198 | ||||||
Land | 540,000 | 540,000 | ||||||
Goodwill | 5,666,608 | 5,666,608 | ||||||
Right of use - assets | 356,848 | 406,950 | ||||||
Due from related party | 4,979 | 4,979 | ||||||
Other assets | 71,235 | 73,368 | ||||||
Total assets | $ | 26,511,679 | $ | 23,925,679 | ||||
LIABILITIES, MEZZANINE EQUITY AND DEFICIENCY IN STOCKHOLDERS' EQUITY | ||||||||
Current liabilities | ||||||||
Accounts payable and accrued expense | $ | 1,493,025 | $ | 1,379,760 | ||||
Accrued expenses - related parties | 4,665,525 | 4,553,057 | ||||||
Accrued interest | 566,411 | 429,200 | ||||||
Right of use - liability | 256,550 | 223,330 | ||||||
Notes - current portion | 275,830 | 312,180 | ||||||
Line of credit | 12,690,193 | 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 | 20,290,819 | 15,886,803 | ||||||
Other liabilities | ||||||||
Notes payable | 140,374 | 251,725 | ||||||
Operating lease liability - long term | 108,979 | 185,877 | ||||||
Total liabilities | 20,540,172 | 16,324,405 | ||||||
Mezzanine equity | ||||||||
Redeemable Series N Senior Convertible Preferred Stock - 3,000,000 shares authorized, | 3,561,955 | 3,339,317 | ||||||
Redeemable Series X Senior Convertible Preferred Stock - 5,000,000 shares authorized, | 1,655,948 | 1,576,788 | ||||||
Total Mezzanine Equity | 5,217,903 | 4,916,105 | ||||||
Stockholders' equity | ||||||||
Series B Preferred Stock - 3,000,000 shares authorized, | 0 | 5,119,468 | ||||||
Series C Preferred Stock - 500 shares authorized, | 0 | 296 | ||||||
Series E Preferred Stock - 1,000,000 shares authorized, | 0 | 701,500 | ||||||
Series F-1 Preferred Stock - 50,000 shares authorized, | 15,500 | 15,500 | ||||||
Series I Preferred Stock - 15,000,000 shares authorized, | 40,300,368 | 41,876,368 | ||||||
Series L Preferred Stock - 400,000 shares authorized, | 1,277,972 | 1,277,972 | ||||||
Series Y Senior Convertible Preferred Stock - 1,500,000 shares authorized, | 4,064,060 | 3,916,500 | ||||||
Common Stock; 300,000,000 shares authorized, | 19,680 | 15,300 | ||||||
Additional paid-in capital | 30,201,734 | 22,711,350 | ||||||
Accumulated deficit | (75,125,710 | ) | (72,949,085 | ) | ||||
Total stockholders' equity | 753,604 | 2,685,169 | ||||||
Total liabilities, mezzanine equity and stockholders' equity | $ | 26,511,679 | $ | 23,925,679 | ||||
CARDIFF LEXINGTON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF NON-GAAP FINANCIAL MEASURES FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025, AND 2024
(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 | For the Six Months Ended | |||||||||||||||
June 30, | June 30, | |||||||||||||||
2025 | 2024 (Restated) | 2025 | 2024 (Restated) | |||||||||||||
EBITDA (1) | ||||||||||||||||
Net income (loss) before discontinued operations | $ | (1,226,395 | ) | $ | (131,585 | ) | $ | (1,677,172 | ) | $ | (303,377 | ) | ||||
Add: | ||||||||||||||||
Interest | 1,836,072 | 41,347 | 2,829,186 | 417,616 | ||||||||||||
Taxes | 0 | 0 | 0 | 0 | ||||||||||||
Depreciation | 763 | 3,366 | 4,128 | 6,731 | ||||||||||||
Amortization | 0 | 11,306 | 0 | 24,821 | ||||||||||||
EBITDA (1) | $ | 610,440 | $ | (75,566 | ) | $ | 1,156,142 | $ | 145,791 | |||||||
Adjusted EBITDA (2) | ||||||||||||||||
EBITDA | $ | 610,440 | $ | (75,566 | ) | $ | 1,156,142 | $ | 145,791 | |||||||
Add: | ||||||||||||||||
Stock compensation expense for shares issued | 97,500 | 0 | 97,500 | 300,225 | ||||||||||||
Adjusted EBITDA (2) | $ | 707,940 | $ | (75,566 | ) | $ | 1,253,642 | $ | 446,016 | |||||||
(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 | $ | 707,940 | $ | (75,566 | ) | $ | 1,253,642 | $ | 446,016 | |||||||
Add: | ||||||||||||||||
Scaling and restructuring costs for business growth | 11,676 | 16,833 | 11,676 | 104,192 | ||||||||||||
Acquisition related costs | 1,445 | 0 | 58,079 | 0 | ||||||||||||
Adjusted EBITDA excluding other non-recurring costs (3) | $ | 721,061 | $ | (58,733 | ) | $ | 1,323,397 | $ | 550,208 | |||||||
(3) Adjusted EBITDA excluding other non-recurring costs is a non-GAAP financial measure that is the sum of Adjusted EBITDA plus other non-recurring costs.
CARDIFF LEXINGTON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF REVENUE FOR THE THREE AND SIX MONTHS ENDED JUNE 30, 2025, AND 2024
(Unaudited)
For the Three Months Ended June 30, | For the Six Months Ended June 30, | |||||||||||||||
2025 | 2024 | 2025 | 2024 | |||||||||||||
GAAP Revenue | $ | 2,789,007 | $ | 1,471,643 | $ | 5,704,574 | $ | 3,793,775 | ||||||||
Adjustments to Claim Settlement Realization Rate | - | 859,321 | - | 1,199,155 | ||||||||||||
Non-GAAP Adjusted Revenue | $ | 2,789,007 | $ | 2,330,964 | $ | 5,704,574 | $ | 4,992,930 | ||||||||
SOURCE: Cardiff Lexington Corporation
View the original press release on ACCESS Newswire
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