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CWD

CaliberCos Inc.

CWD

CaliberCos Inc. • NASDAQ
$2.30 ▲ 1.32% (+0.03)
Market Cap $2.68 M
52w High $48.00
52w Low $1.63
Dividend Yield 0%
P/E -0.12
Volume 41.17K
Outstanding Shares 1.16M

Income Statement

Period Revenue Operating Expense Net Income Net Profit Margin Earnings Per Share EBITDA
Q3-2025 $11.302M ▲ $11.302M ▲ $146K ▲ 1.292% ▲ $0.15 ▲ $149K ▲
Q2-2025 $5.073M ▼ $5.623M ▼ $-5.268M ▼ -103.844% ▼ $-4.15 ▼ $-1.252M ▲
Q1-2025 $7.261M ▼ $6.405M ▼ $-4.407M ▲ -60.694% ▲ $-0.2 ▲ $-1.762M ▲
Q4-2024 $8.687M ▼ $10.729M ▼ $-11.388M ▼ -131.092% ▼ $-0.51 ▼ $-4.461M ▼
Q3-2024 $11.302M $22.848M $146K 1.292% $0.007 $2.208M

Balance Statement

Period Cash & Short-term Total Assets Total Liabilities Total Equity
Q3-2025 $13.388M ▲ $82.568M ▲ $73.281M ▼ $7.383M ▲
Q2-2025 $683K ▼ $59.26M ▼ $76.864M ▼ $-19.85M ▼
Q1-2025 $1.568M ▼ $103.643M ▼ $96.285M ▲ $-15.808M ▼
Q4-2024 $2.315M ▲ $105.535M ▼ $94.282M ▼ $-12.589M ▼
Q3-2024 $1.569M $158.583M $95.302M $-3.849M

Cash Flow Statement

Period Net Income Cash From Operations Cash From Investing Cash From Financing Net Change Free Cash Flow
Q3-2025 $-4.371M ▲ $-4.615M ▼ $-12.892M ▼ $27.444M ▲ $9.937M ▲ $-4.615M ▼
Q2-2025 $-5.7M ▼ $-1.17M ▲ $-4.099M ▼ $4.36M ▲ $-909K ▼ $-1.17M ▲
Q1-2025 $-4.385M ▲ $-1.738M ▼ $104K ▲ $1.097M ▼ $-537K ▼ $-1.738M ▼
Q4-2024 $-10.893M ▼ $754K ▲ $-2.286M ▼ $2.326M ▲ $794K ▲ $754K ▲
Q3-2024 $1K $-74K $2.853M $-3.231M $-452K $-74K

Revenue by Products

Product Q4-2024Q1-2025Q2-2025Q3-2025
Asset Management
Asset Management
 $0 ▲$0 ▲$0 ▲$0 ▲
Investment Performance
Investment Performance
 $0 ▲$0 ▲$0 ▲$0 ▲
Product and Service Other
Product and Service Other
 $0 ▲$0 ▲$0 ▲$0 ▲
Hotel
Hotel
 $0 ▲$0 ▲$0 ▲$0 ▲

Five-Year Company Overview

Income Statement

Income Statement CaliberCos is still in “build and scale” mode rather than “steady profit” mode. Revenue has been small but generally edging higher over the past few years. However, operating profits and cash earnings have stayed negative, meaning the core business has not yet reached consistent profitability. The most recent year shows some improvement in gross profitability versus earlier years, but bottom‑line results are still losses. Earnings per share have bounced around, including a brief break‑even period, which suggests the business is sensitive to deal timing and market conditions. Overall, the income statement points to a young, growing platform that has not yet proven durable, recurring profitability.

Balance Sheet

Balance Sheet The balance sheet is tight. Total assets are modest and mostly funded by debt rather than by shareholder equity. Equity has hovered around zero or slightly negative, which indicates a thin capital cushion and very limited loss‑absorbing capacity. Cash balances are also very low, leaving less buffer against unexpected shocks or slower fundraising. Debt makes up a significant portion of the capital structure, so the company depends on lenders staying supportive and on asset values holding up. In short, financial flexibility looks limited, and balance‑sheet strength is a key risk area to watch.

Cash Flow

Cash Flow CaliberCos has not been generating meaningful cash from its operations. Operating cash flow has been negative or near zero for several years, and free cash flow tells the same story. Capital spending has been modest, so the issue is more about the business not yet throwing off cash rather than heavy investment in equipment. This pattern usually means the company has relied on external funding—through debt, equity, or asset sales—to support growth and cover ongoing costs. Until operating cash flow turns consistently positive, cash availability and financing access remain central uncertainties.

Competitive Edge

Competitive Edge Competitively, CaliberCos has a clear niche but operates on a relatively small scale compared with large asset managers. Its vertically integrated model—handling acquisition, development, management, and brokerage in‑house—can create efficiency, better control over projects, and multiple fee streams. The focus on middle‑market real estate deals, often too small for big institutions and too large for individuals, gives it a less crowded hunting ground, especially in its core regions in the Southwest. On the other hand, the business is concentrated in real estate and specific geographies, so it remains exposed to regional property cycles, funding conditions, and competition from other niche managers. The company’s size and thin balance sheet also limit its ability to absorb mistakes or long downturns relative to larger peers.

Innovation and R&D

Innovation and R&D While CaliberCos doesn’t do traditional lab‑style R&D, it is experimenting actively with new ideas in finance and real estate. Its digital asset treasury strategy, centered on Chainlink, is an unusual step for a real estate platform and signals a willingness to integrate blockchain and tokenization concepts into its model over time—though this also adds volatility and regulatory and execution risk. The company is also leaning into opportunity zones, distressed hospitality, and sustainable property upgrades like EV charging, which may create differentiated products and marketing angles. Overall, the innovation story is ambitious and forward‑looking, but still early and unproven in terms of financial payoff.

Summary

CaliberCos is a small, specialized alternative asset manager trying to build a differentiated platform around middle‑market real estate and newer themes like digital assets and sustainable property infrastructure. The story is still early: revenues are modest, profitability has not yet settled into the black, cash generation is weak, and the balance sheet is thin and debt‑heavy. At the same time, the company does have identifiable strategic strengths—vertical integration, a clear niche focus, and a willingness to innovate in product design and technology. Future results will likely hinge on three things: its ability to scale fee‑earning assets, its success in turning innovation into stable earnings rather than just experimentation, and its discipline in managing leverage and liquidity through real estate and capital‑market cycles.

NEWS

November 18, 2025 · 7:15 AM UTC

Caliber Regains Compliance with Nasdaq Stockholders' Equity Requirement

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November 13, 2025 · 4:15 PM UTC

Caliber Reports Third Quarter 2025 Financial Results

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November 4, 2025 · 7:00 AM UTC

Caliber Sets Date for Third Quarter 2025 Earnings Announcement & Investor Conference Call

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October 31, 2025 · 5:25 PM UTC

Caliber Launches Noteholder Debt-to-Equity Conversion Program and Completes First $1.9 Million Tranche

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October 23, 2025 · 7:00 AM UTC

Company Reports Estimated Stockholders' Equity Between $4.5 Million and $6.0 Million as of September 30, 2025

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