Cardiff Lexington Announces First Quarter 2025 Financial Results
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)
Balance Sheet (March 31, 2025, compared to December 31, 2024)
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
[email protected]
(800) 628-2100 ext. 705
or
IMS Investor Relations
[email protected]
(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)
CARDIFF LEXINGTON CORPORATION AND SUBSIDIARIES
CONDENSED CONSOLIDATED BALANCE SHEETS
AS OF DECEMBER 31, 2024 AND DECEMBER 31, 2023
(Unaudited)
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)
CARDIFF LEXINGTON CORPORATION AND SUBSIDIARIES
RECONCILIATION OF REVENUE FOR THE THREE AND TWELVE MONTHS ENDED DECEMBER 31, 2024
(Unaudited)
SOURCE: Cardiff Lexington Corporation
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