Business
Cardiff Lexington Announces First Quarter 2026 Financial Results
Cardiff Lexington Announces First Quarter 2026 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 2026 Financial Results\r\n \r\n \r\n\r\n\r\nCardiff Lexington Announces First Quarter 2026 Financial Results\r\n\r\n\r\n\r\n\r\n\r\nLEXINGTON, KY / ACCESS Newswire / May 19, 2026 / Cardiff Lexington Corporation (OTCQX:CDIX) today announced financial results for the first quarter ended March 31, 2026.\r\n Alex Cunningham, Chief Executive Officer of Cardiff Lexington, commented, \"We continue to strengthen and expand our network of Nova Ortho and Spine locations to support growing patient demand with a focus on more high value procedures, and we remain confident in our ability to build a scalable platform through organic growth and acquisitions that deliver exceptional outcomes for patients. Furthermore, our recent upgrade to the OTCQX market represents an important step in increasing our visibility and credibility among institutional investors as we execute our strategic initiatives to enhance our access to working capital and drive sustainable, long-term growth and shareholder value.\"\r\n First Quarter 2026 Financial Results\r\n Total revenue was $2.2 million compared with $2.9 million in the first quarter of 2025. The decrease in revenue is mainly attributable to a decrease in surgical procedures in the first quarter of 2026 compared to the first quarter of 2025.\r\n Gross profit was $1.3 million, or 59.3% of total revenue, compared with $1.8 million, or 63.1% of total revenue in the first quarter of 2025.\r\n Total operating expenses increased to $1.8 million compared with $1.3 million in the first quarter of 2025, primarily related to share based compensation of $664,000 in the first quarter of 2026, compared with no share based compensation in the first quarter of 2025. SG&A expense was $1.2 million, or 52.4% of revenue in the first quarter of 2026, compared with $1.3 million, or 43.9% of revenue in the first quarter of 2025.\r\n Loss from continuing operations was $511,000, or (23.0%) of total revenue, in the first quarter of 2026, compared with income from continuing operations of $544,000, or 18.7% of total revenue, in the first quarter of 2025.\r\n Net loss in the first quarter of 2026 was $3.1 million compared with net loss of $451,000 in the first quarter of 2025. Included in net loss for the three months ended March 31, 2026, was interest expense of $1....