Business
Cardiff Lexington Announces First Quarter 2025 Financial Results
Cardiff Lexington Announces First Quarter 2025 Financial Results.
About this update from Cardiff Lexington Corporation
[{"type":"text","content":"\r\n\r\n \r\n \r\n Cardiff Lexington Announces First Quarter 2025 Financial Results\r\n \r\n \r\n\r\n\r\nCardiff Lexington Announces First Quarter 2025 Financial Results\r\n\r\n\r\n\r\n\r\n\r\n\r\n 26% increase in total revenue to $2.9 million compared to 1Q24\r\n Operating income increased 148% to $543,934\r\n 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.\r\n 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.\"\r\n First Quarter 2025 Financial Results (Compared to First Quarter 2024)\r\n \r\n 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 to 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 increased 9.5% over first quarter 2024 non-GAAP revenue\r\n Gross profit increased 34% to $1,840,533, or 63% of total revenue\r\n Income from continuing operations increased 148% to $543,934\r\n Non-GAAP adjusted EBITDA increased 5% to $545,702\r\n \r\n Balance Sheet (March 31, 2025, compared to December 31, 2024)\r\n \r\n Cash of $996,758\r\n 6% increase in total assets to $25,330,628\r\n Shareholders' equity of $2,036,047\r\n https://app.accessnewswire.com/imagelibrary/2d1eb9ca-7cb1-458d-8b7b-a4032d483c02/1026499/cdix-factsheet-may-2025.png?v=2 \r\n \r\n \r\n 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 anti...