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CaliberCos, Inc. Class A
(NASDAQ:CWD)
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Rating:52Neutral
Price Target:
$0.70
▼(-47.27% Downside)
Action:Reiterated
Date:07/07/26
The score is held back primarily by weak financial performance (shrinking revenue, heavy losses, and ongoing negative free cash flow with historically elevated balance-sheet risk). Offsetting this, management commentary points to improving operating discipline and reaffirmed profitability targets for FY2026, while technicals show better near-term trend but an unsettled longer-term picture. Valuation remains hard to assess given negative earnings and no dividend support.
Positive Factors
Improved operating discipline and cost cuts
Sustained expense reductions and a leaner workforce materially lower the fixed cost base, improving operating leverage. The 11% expense cut and 31% headcount reduction drove a 75.9% narrowing of platform adjusted EBITDA loss, supporting a durable path to break-even if execution continues.
Negative Factors
Historic high leverage and volatile equity
A history of extreme leverage and episodes of negative equity constrain strategic flexibility and raise creditor sensitivity. Even with recent capital structure moves, past volatility signals elevated refinancing and covenant risk that can impair long-term investment and growth capacity if markets tighten.
Read all positive and negative factors
Positive Factors
Negative Factors
Improved operating discipline and cost cuts
Sustained expense reductions and a leaner workforce materially lower the fixed cost base, improving operating leverage. The 11% expense cut and 31% headcount reduction drove a 75.9% narrowing of platform adjusted EBITDA loss, supporting a durable path to break-even if execution continues.
Read all positive factors
CaliberCos, Inc. Class A (CWD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$6.19M
Dividend YieldN/A
Average Volume (3M)6.95M
Price to Earnings (P/E)―
Beta (1Y)1.62
Revenue Growth-51.65%
EPS Growth58.35%
CountryUS
Employees50
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)-4.80
Shares Outstanding8,469,402
10 Day Avg. Volume258,868
30 Day Avg. Volume6,954,357
Financial Highlights & Ratios
PEG Ratio>-0.01
Price to Book (P/B)2.63
Price to Sales (P/S)0.17
P/FCF Ratio-0.29
Enterprise Value/Market Cap20.28
Enterprise Value/Revenue9.46
Enterprise Value/Gross Profit111.35
Enterprise Value/Ebitda-8.66
Forecast
1Y Price TargetN/A
Price Target UpsideN/A
Rating ConsensusN/A
Number of Analyst Covering0
EPS Forecast (FY)-0.49
Revenue Forecast (FY)$19.43M
CaliberCos, Inc. Class A Business Overview & Revenue Model
Company Description
CaliberCos Inc., established in 2009 and headquartered in Scottsdale, Arizona, functions as a real estate investment and asset management firm with a specific focus on middle-market assets. The company caters to a sophisticated client base, includ...
How the Company Makes Money
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CaliberCos, Inc. Class A Earnings Call Summary
Earnings Call Date:May 13, 2026
(Q1-2026)
| % Change Since: |
Next Earnings Date:Aug 18, 2026
Earnings Call Sentiment Positive
The call presented a mix of clear operational progress and improved financial discipline — revenue growth (~16% YoY), a large reduction in adjusted EBITDA loss (75.9% improvement), expense cuts (‑11%) and material project milestones (Hyatt Studios financing close, permits and HUD approvals). Management also advanced digital asset/tokenization capabilities and enacted liability conversion programs to address near‑term maturities. Offsetting these positives are timing‑related revenue delays, a sequential decline in managed capital, a sizable amount of near‑term maturing unsecured notes (~$24.5M), and continued dependence on financings to realize the full year plan. On balance, the call skewed constructive because operational improvements, cost reductions, project financing wins, and proactive liability management substantially mitigate the highlighted risks, while guidance for 2026 was reaffirmed.Positive Updates
Platform Revenue Growth
Platform revenue for Q1 2026 was $4.1M, up from $3.5M in Q1 2025 — described by management as nearly 16% year‑over‑year growth.
Negative Updates
Construction & Development Revenue Timing Delay
Construction and development revenue declined in Q1 2026 due primarily to the timing of project financings; several financings expected to close in Q1 were pushed out, deferring revenue into later quarters.
Read all updates
Q1-2026 Updates
Positive
Negative
Platform Revenue Growth
Platform revenue for Q1 2026 was $4.1M, up from $3.5M in Q1 2025 — described by management as nearly 16% year‑over‑year growth.
Read all positive updates
Company Guidance
Caliber reaffirmed full‑year 2026 revenue guidance of $18–$22 million and expects adjusted EBITDA profitability and positive net operating income, forecasting that ~60% of 2026 revenue growth will come from project‑level financings and ~40% from capital formation/asset management; in Q1 platform revenue was $4.1M (vs. $3.5M a year ago, ~17% YoY / “nearly 16%” as described), platform adjusted EBITDA loss narrowed to <$0.5M (vs. $1.4M loss prior year, a 75.9% improvement), total platform expenses were $5.4M (down 11% YoY), fund management fees rose 3.7% YoY, average headcount fell 31% (from 74 to 51), estimated performance allocations were $99M (down from $104M last quarter, up from $88M YoY), and managed capital was $490M (vs. $517M prior quarter and $495M a year ago); corporate/treasury metrics included 507,560 LINK tokens (~$4.5M fair value) with ~55,000 LINK sold for ~$0.5M, 148 unsecured notes totaling ~$26.2M (≈$24.5M maturing within 12 months), and note conversions of ~$1.5M to Series AAA preferred and ~$1.9M to common (reducing debt ≈$3.4M this round and ~$5.3M total since October 2025).CaliberCos, Inc. Class A Financial Statement Overview
Summary
Income Statement
18
Very Negative
Balance Sheet
22
Negative
Cash Flow
15
Very Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 13.27M | 20.10M | 51.12M | 90.94M | 83.96M | 56.03M |
| Gross Profit | 1.13M | -3.33M | 24.62M | 10.27M | 23.29M | 34.00K |
| EBITDA | -14.48M | -14.01M | -7.14M | -11.99M | 24.34M | -9.97M |
| Net Income | -20.98M | -21.80M | -19.78M | -12.70M | 2.02M | -698.00K |
Balance Sheet | ||||||
| Total Assets | 179.59M | 135.40M | 105.53M | 299.43M | 278.83M | 245.65M |
| Cash, Cash Equivalents and Short-Term Investments | 4.61M | 2.54M | 2.31M | 3.81M | 7.66M | 8.38M |
| Total Debt | 129.19M | 98.23M | 81.76M | 209.61M | 177.63M | 166.31M |
| Total Liabilities | 140.88M | 109.17M | 94.28M | 233.41M | 201.65M | 195.96M |
| Stockholders Equity | 1.25M | 1.33M | -12.59M | 2.62M | -3.21M | -9.09M |
Cash Flow | ||||||
| Free Cash Flow | -12.96M | -12.06M | 555.00K | -18.72M | -8.11M | -15.02M |
| Operating Cash Flow | -12.96M | -12.06M | 555.00K | -18.72M | -7.43M | -15.02M |
| Investing Cash Flow | -23.03M | -23.51M | -19.63M | 10.69M | -31.75M | -14.31M |
| Financing Cash Flow | 36.24M | 36.69M | 6.33M | 9.74M | 38.58M | 35.05M |
CaliberCos, Inc. Class A Technical Analysis
Negative
1.32
Price Trends
0.88
Negative
1.04
Negative
1.74
Negative
Market Momentum
-0.03
Negative
44.42
Neutral
12.15
Positive
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For CWD, the sentiment is Negative. The current price of 1.32 is above the 20-day moving average (MA) of 0.76, above the 50-day MA of 0.88, and below the 200-day MA of 1.74, indicating a bearish trend. The MACD of -0.03 indicates Negative momentum. The RSI at 44.42 is Neutral, neither overbought nor oversold. The STOCH value of 12.15 is Positive, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for CWD.
CaliberCos, Inc. Class A Risk Analysis
CaliberCos, Inc. Class A disclosed 61 risk factors in its most recent earnings report. CaliberCos, Inc. Class A reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks
CaliberCos, Inc. Class A Peers Comparison
UnderperformOutperform
Sector (68)
Name | Overall Rating | Market Cap | P/E Ratio | ROE | Dividend Yield | Revenue Growth | EPS Growth |
|---|---|---|---|---|---|---|---|
68 Neutral | $18.00B | 11.42 | 9.92% | 3.81% | 9.73% | 1.22% | |
52 Neutral | $6.19M | -0.14 | -1438.14% | ― | -51.65% | 58.35% | |
| ― | $8.65M | 14.70 | -109.09% | ― | ― | -8154.56% | |
| ― | $7.07B | -22.06 | -38.57% | ― | ― | ― | |
57 Neutral | $36.86M | 26.13 | 60.02% | ― | ― | ― | |
47 Neutral | $37.59M | -0.48 | -63.79% | 1.07% | 48.39% | -596.86% | |
44 Neutral | $48.06M | -0.06 | 38.19% | ― | -20.78% | -530.91% |
* Financial Sector Average
CWD
CaliberCos, Inc. Class A
0.69
-2.83
-80.43%
BTTC
Black Titan
0.76
-3.60
-82.52%
MAAS
Highest Performances Holdings
15.46
11.26
268.10%
BENF
Beneficient
3.42
0.94
37.90%
GRAN
Grande Group Limited Class A
1.38
-3.84
-73.56%
MLCI
Mount Logan Capital Inc
3.36
-4.55
-57.52%
CaliberCos, Inc. Class A Corporate Events
Business Operations and StrategyProduct-Related Announcements
CaliberCos Advances Real Estate Fund Tokenization Strategy
Positive
Jul 6, 2026
On July 2, 2026, Caliber announced the next phase of its real estate fund tokenization strategy, deepening its use of Chainlink’s oracle platform and Automated Compliance Engine to address compliance, distribution, and integration of tokeniz...
Business Operations and StrategyExecutive/Board Changes
CaliberCos Appoints Acting CFO Following Jade Leung Resignation
Neutral
Jun 5, 2026
On June 5, 2026, CaliberCos Inc. announced that longtime Chief Financial Officer Jade Leung had resigned for personal reasons, effective June 14, 2026, after an 11-year tenure during which he built the finance organization and helped lead the firm...
Executive/Board ChangesShareholder Meetings
CaliberCos Shareholders Elect Directors, Ratify Auditor at Meeting
Positive
May 15, 2026
CaliberCos Inc. held its 2026 annual meeting of stockholders on May 14, 2026, with 7,053,062 shares of common stock representing 10,390,460 votes entitled to vote and 57.656% of those votes present in person or by proxy, constituting a quorum unde...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
CaliberCos Reports Q1 2026 Results and Strategic Progress
Positive
May 13, 2026
Caliber reported first-quarter 2026 platform revenue of $4.1 million, up from $3.5 million a year earlier, and a platform net loss of $4.3 million, while narrowing its platform adjusted EBITDA loss to $0.3 million and operating near break-even at ...
Business Operations and StrategyFinancial Disclosures
CaliberCos Schedules Q1 2026 Results Call and Webcast
Positive
May 5, 2026
CaliberCos Inc., a Scottsdale-based alternative asset manager focused on middle-market hospitality and multifamily real estate, has expanded into digital assets by integrating blockchain and tokenization technologies, including an investment in Ch...
Business Operations and StrategyPrivate Placements and Financing
CaliberCos Advances Multi-Market Hyatt Studios Hotel Developments
Positive
Apr 23, 2026
CaliberCos Inc., a diversified real estate and digital asset management platform, is expanding its presence in the upper-midscale extended-stay hotel segment through a multi-market Hyatt Studios development strategy. The company focuses on buildin...
Business Operations and StrategyPrivate Placements and Financing
CaliberCos Advances Noteholder Conversions to Reduce Corporate Debt
Positive
Apr 15, 2026
On April 14, 2026, CaliberCos Inc. reported further progress in cutting corporate leverage via the second round of its Noteholder Conversion Program, converting about $1.9 million of unsecured notes into Class A common stock and roughly $1.5 milli...
Business Operations and StrategyPrivate Placements and Financing
CaliberCos Launches Note Conversion and Preferred Stock Alignment
Positive
Apr 14, 2026
In March 2026, CaliberCos Inc. launched a note conversion program allowing holders of certain unsecured promissory notes to convert their debt into Class A common stock or newly created Series AAA Convertible Preferred Stock. By April 9, 2026, not...
Business Operations and StrategyPrivate Placements and Financing
CaliberCos Advances PURE Pickleball & Padel With Permits
Positive
Apr 13, 2026
CaliberCos Inc., a diversified real estate and digital asset management platform, has co-developed PURE Pickleball Padel, a roughly 196,000-square-foot indoor sports and social club in a Qualified Opportunity Zone near Scottsdale, Arizona, design...
Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
Disclaimer
This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.