Cardiff Lexington Earnings Call Transcripts
Fiscal Year 2026
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Revenue declined year-over-year due to fewer billed procedures and lower claim realization rates, while gross margins remained healthy and the network expanded in key Florida markets. Net loss widened, driven by higher interest and SG&A expenses, but patient volume is rising and working capital improvements are a focus.
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Q1 2026 revenue declined year-over-year due to fewer surgical procedures, but positive adjusted EBITDA was achieved. Working capital constraints and higher interest expenses impacted profitability, while expansion and M&A remain central to the growth strategy.
Fiscal Year 2025
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Revenue grew 40% year-over-year to $11.5 million, driven by higher patient volume and expansion of Nova Ortho & Spine. Despite strong adjusted EBITDA, net loss widened due to increased interest expense from higher-cost capital used to fund growth.
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Q3 2025 saw revenue surge 125.6% year-over-year to $3.1M, with gross margin rising to 62.4%. Growth is driven by Nova Ortho and Spine’s scalable model, high collection rates, and a robust M&A strategy targeting expansion in underserved markets.
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Q2 2025 saw 90% revenue growth and improved gross margins, driven by higher patient volume and surgical procedures. Despite a net loss due to high interest expense, adjusted EBITDA turned positive, and the company is focused on expanding capacity and pursuing M&A in a fragmented, high-demand market.