Cardinal Infrastructure Group Inc.
For the period ended Mar 31, 2026. Filed May 13, 2026.
View on SEC.govAbout this filing
A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.
Mar 31, 2026 · Filed May 13, 2026
CDNL$14.60-4.1%Stored close · as of Nov 10, 2026
Extracted filing text, with the paragraph anchors used by the comparison.
See the whole filing, with its images and exhibitsContents
Item 1. Condensed Consolidated Statements of Operations
Condensed Consolidated State ments of Operations (Unaudited)
| Three months endedMarch 31, | ||
|---|---|---|
| 2026 | 2025 | |
| Revenues | $167,508,716 | $81,801,265 |
| Cost of revenues, excluding depreciation and amortization | 133,319,083 | 65,277,978 |
| General and administrative | 10,142,131 | 2,125,970 |
| Depreciation expense | 5,702,410 | 5,071,341 |
| Amortization expense | 3,567,348 | 1,527,500 |
| (Gain) on disposal of property and equipment | (2,397) | (110,945) |
| Income from operations | 14,780,141 | 7,909,421 |
| Other expense: | ||
| Interest expense, net | (2,245,876) | (1,026,276) |
| Other expense, net | — | (241,400) |
| Total other expense, net | (2,245,876) | (1,267,676) |
| Net income before taxes | 12,534,265 | 6,641,745 |
| Income tax expense | (1,053,229) | — |
| Net income | 11,481,036 | 6,641,745 |
| Less: Net income attributable to noncontrolling interests | 8,062,598 | 1,164,764 |
| Net income attributable to Cardinal Infrastructure Group Inc. | $3,418,438 | $5,476,981 |
| Earnings per share(1): | ||
| Basic | $0.23 | |
| Diluted | $0.23 | |
| Weighted average shares of Class A common stock outstanding(1): | ||
| Basic | 15,104,788 | |
| Diluted | 15,126,679 | |
(1) Represents earnings per share of Class A common stock and weighted-average shares of Class A common stock outstanding for the period following the recapitalization transactions and IPO (see Note 14)
The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.