Cardinal Infrastructure Group Inc. (CDNL) Income Statement
CDNL 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCDNL revenue and net income
Where CDNL's revenue goes
2025Each bar shows an amount and its share of revenue. CDNL kept 5.0% of revenue as net income.
CDNL profit margins
CDNL growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | +44.7% | — | — | — |
| Gross profit | +106.2% | — | — | — |
| Operating income | +3.7% | — | — | — |
| Net income | +6.2% | — | — | — |
| EPS (diluted) | +34,659.3% | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CDNL quarterly EPS vs estimates
Cardinal Infrastructure beat the analyst EPS estimate in 2 of the last 4 quarters. Next report: November 10, 2026 (estimate $0.49).
CDNL income statement
| 2025 | 2024 | 2023 | |
|---|---|---|---|
| Revenue | $456.0M | $315.2M | $247.9M |
| Cost of revenue | $359.9M | $268.6M | $199.1M |
| Gross profit | $96.1M | $46.6M | $48.8M |
| Sales, general & admin | $23.5M | $10.7M | $5.6M |
| Total operating expenses | $55.9M | $7.8M | $19.3M |
| Operating income | $40.2M | $38.8M | $29.5M |
| Interest expense | $6.8M | $4.8M | $4.0M |
| Income before taxes | $33.1M | $29.6M | $24.3M |
| Income taxes | $2.0M | $1.4M | — |
| Net income | $22.7M | $21.4M | $20.6M |
| EBITDA | $72.3M | $57.5M | $43.2M |
| EPS (diluted) | $563.10 | $1.62 | — |
| Gross margin | 21.1% | 14.8% | 19.7% |
| Operating margin | 8.8% | 12.3% | 11.9% |
| Net margin | 5.0% | 6.8% | 8.3% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $226.9M | $167.5M | $145.8M | $122.3M | $106.1M | $81.8M | $84.9M | $76.3M | $77.0M | $77.0M |
| Cost of revenue | $202.5M | $133.3M | $114.6M | $96.5M | $83.5M | $65.3M | $67.6M | $62.4M | $59.9M | $59.9M |
| Gross profit | $24.5M | $34.2M | $31.2M | $25.8M | $22.6M | $16.5M | $17.3M | $13.9M | $17.0M | $17.0M |
| Sales, general & admin | $8.4M | $10.1M | $13.4M | $5.1M | $3.0M | $2.1M | $4.1M | $2.3M | $2.2M | $2.2M |
| Total operating expenses | $8.4M | $19.4M | $22.4M | $13.9M | $10.9M | $8.7M | $9.2M | $7.1M | $6.5M | $6.5M |
| Operating income | $16.1M | $14.8M | $8.8M | $11.9M | $11.7M | $7.8M | $8.2M | $6.8M | $10.5M | $10.5M |
| Interest expense | $3.5M | $2.2M | $3.0M | $1.2M | $1.6M | $1.0M | $1.3M | $1.2M | $1.1M | $1.1M |
| Income before taxes | $10.1M | $12.5M | $5.3M | $11.0M | $10.2M | $6.6M | $6.7M | $5.4M | $8.7M | $8.7M |
| Income taxes | −$1.0M | $1.1M | −$316,768 | $1.6M | $714,261 | — | $1.4M | $231,420 | $392,667 | $392,667 |
| Net income | $4.7M | $3.4M | $13.5M | −$3.4M | $7.2M | $5.5M | −$7.2M | $3.9M | $6.5M | $6.5M |
| EBITDA | $27.7M | $24.0M | $17.4M | $21.0M | $19.6M | $14.3M | $13.0M | $11.5M | $14.8M | $14.8M |
| EPS (diluted) | $0.32 | $0.23 | $0.20 | $562.90 | — | — | — | — | — | — |
| Gross margin | 10.8% | 20.4% | 21.4% | 21.1% | 21.3% | 20.2% | 20.4% | 18.3% | 22.1% | 22.1% |
| Operating margin | 7.1% | 8.8% | 6.0% | 9.7% | 11.1% | 9.5% | 9.6% | 8.9% | 13.6% | 13.6% |
| Net margin | 2.1% | 2.0% | 9.2% | −2.8% | 6.8% | 6.7% | −8.4% | 5.1% | 8.5% | 8.5% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CDNL's financial statements (latest annual report filed March 23, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CDNL financial results
In fiscal year 2025 (ended December 31, 2025), Cardinal Infrastructure reported revenue of $456.0 million, up 44.7% from the year before. It had net income of $22.7 million (up 6.2%), a net profit margin of 5.0%. Diluted earnings per share came to $563.10.
See the CDNL stock overview for the latest quote and news, or the CDNL chart for price history and technical indicators.
CDNL income statement FAQ
What is Cardinal Infrastructure's annual revenue?
Cardinal Infrastructure reported total revenue of $456.0 million for fiscal year 2025, which ended on December 31, 2025. That was up 44.7% from $315.2 million the previous year.
Is Cardinal Infrastructure profitable?
Yes. Cardinal Infrastructure reported net income of $22.7 million in fiscal 2025, a net profit margin of 5.0%; its operating margin was 8.8%.
What is Cardinal Infrastructure's gross margin?
Cardinal Infrastructure's gross margin was 21.1% in fiscal 2025: for every $100 of revenue, Cardinal Infrastructure kept $21 after the direct cost of its products and services.
What are Cardinal Infrastructure's earnings per share?
Cardinal Infrastructure earned $563.10 per diluted share in fiscal 2025, compared with $1.62 a year earlier.
When will Cardinal Infrastructure report its next earnings?
Cardinal Infrastructure is expected to report results for the quarter ending September 30, 2026 on November 10, 2026.
When does Cardinal Infrastructure's fiscal year end?
Cardinal Infrastructure's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 23, 2026.