Core Insights - Cardinal Infrastructure Group Inc. reported a significant revenue growth of 45% for the full year 2025, reaching $456.0 million compared to $315.2 million in 2024, with organic revenue growth at 33% [2][7] - The company affirmed its guidance for 2026, expecting continued organic growth and project execution, bolstered by the recent acquisition of A.L. Grading Contractors [9][8] Financial Performance - Gross profit for 2025 was $63.8 million, with a gross profit margin of 14%, up from $46.6 million in 2024 [3][7] - Adjusted gross profit was $96.1 million, resulting in an adjusted gross profit margin of 21.1%, an increase of 37 basis points from the previous year [3][7] - Net income increased by 10% to $31.1 million, while EBITDA was reported at $72.3 million, reflecting an EBITDA margin of 15.8% [4][7] Backlog and Growth Indicators - The total backlog as of December 31, 2025, was $682 million, a 33% increase from $512 million at the end of 2024, indicating strong bid activity and project momentum [5][7] - The company raised $139.8 million through its initial public offering and allocated $101.5 million towards acquisitions and capital expenditures [6][7] Strategic Expansion - The acquisition of A.L. Grading Contractors marks Cardinal's first geographic expansion beyond North Carolina and South Carolina, expected to enhance consolidated margins in 2026 [8][7] - The leadership team from A.L. Grading Contractors has been integrated into Cardinal's management structure, with key appointments made to support growth [8][7] 2026 Guidance - Cardinal's guidance for 2026 anticipates revenues in the range of $665 million to $678 million, with an adjusted EBITDA margin of over 20% [13][9] - The guidance is based on current economic conditions and does not account for potential future acquisitions or significant weather events [9][7]