The latest financial statement is for the year ending 2025-12-31.
| Cash Flow | 2025-12-31 |
|---|---|
| Net income | 31,093,483 |
| Depreciation expense | 25,246,451 |
| Amortization of debt issuance costs | 98,922 |
| Amortization of other intangible assets | 7,128,310 |
| (gain) loss on disposal of property and equipment | 157,401 |
| Noncash stock compensation | 5,868,592 |
| (earnings) losses from investments in unconsolidated affiliates | 94,408 |
| Provision for deferred income taxes | 275,524 |
| Accounts receivable, net | 12,773,598 |
| Contract assets | 34,248,729 |
| Prepaid expenses | 1,509,800 |
| Other assets | 463,358 |
| Accounts payable | 21,141,527 |
| Accrued expenses | 1,774,787 |
| Contract liabilities | -5,479,415 |
| Net cash provided by operating activities | 37,900,887 |
| Proceeds from the sale of property and equipment | 453,915 |
| Purchases of property and equipment | 43,815,228 |
| Acquisitions, net of cash acquired | 59,398,397 |
| Investment in unconsolidated affiliate | 0 |
| Proceeds from repayment of related party receivable | 1,263,667 |
| Decrease in cash due to deconsolidation of variable interest entity | 4,388 |
| Net cash used in investing activities | -101,500,431 |
| Proceeds from notes payable | 166,478,947 |
| Principal payments on notes payable | 91,889,925 |
| Payment of debt issuance costs | 1,996,262 |
| Proceeds from credit facility line of credit | 26,700,000 |
| Repayment of credit facility line of credit | 26,700,000 |
| Principal payments on finance lease obligations | 3,275,226 |
| Payments of deferred consideration | 1,204,164 |
| Member distributions | 23,430,129 |
| Proceeds from stock subscription | 3,834 |
| Proceeds from equity offering, net of underwriting discounts | 258,284,250 |
| Repurchase of outstanding equity / cardinal's opco units | 157,500,000 |
| Payment of initial public offering issuance costs | 5,639,464 |
| Net cash provided by/(used in) financing activities | 139,831,861 |
| Net change in cash | 76,232,317 |
| Beginning of period | 20,917,108 |
| End of period | 97,149,425 |
Cardinal Infrastructure Group Inc. (CDNL)
Cardinal Infrastructure Group Inc. (CDNL)