Cardiff Lexington (CDIX) Q2 2026 earnings summary

Executive summary

• Nova Ortho and Spine expanded to 12 locations across Florida and Georgia, including a new site in Tallahassee, targeting high-demand, underserved markets and strengthening the medical team.

• Continued focus on long-term strategy to provide best-in-class care, fulfill critical healthcare needs, and drive shareholder value.

• Year-to-date 2026 GAAP revenue reached $4.38M with a 57% gross margin, but faced revenue decline due to fewer billed procedures and lower realization rates.

• Net loss widened to $5.57M for the first half of 2026, compared to $1.68M in 2025.

• Expanded clinical and operational teams to support growth and operational scaling.

Financial highlights

• Q2 2026 revenue was $2.16M, down from $2.79M in Q2 2025; YTD revenue was $4.38M, down from $5.70M YTD 2025.

• Q2 2026 gross margin was 54.7% (vs. 60.8% Q2 2025); YTD gross margin was 57.1% (vs. 62.0% YTD 2025).

• Q2 2026 net loss was $2.48M, compared to $1.23M in Q2 2025; YTD net loss was $5.57M, compared to $1.68M YTD 2025.

• Adjusted EBITDA for Q2 2026 was $(177K), down from $708K in Q2 2025; YTD Adjusted EBITDA was $(14K), down from $1.25M YTD 2025.

• Basic and diluted loss per share for six months ended June 30, 2026 was $0.41, compared to $0.39 in 2025.

Outlook and guidance

• Patient volume is increasing, and management is focused on debt restructuring, working capital improvements, and returning to historical performance levels.

• Strategic investments and upgrading to OTCQX are being made to support organic growth, M&A activity, and enhance access to working capital.

• Confident in the business model's ability to deliver consistent revenue growth and high returns on invested capital.

• Anticipates professional fees to moderate as M&A and uplisting transactions progress.