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CaliberCos, Inc. Class A
(NASDAQ:CWD)
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Rating:44Neutral
Price Target:
$0.55
▼(-1.25% Downside)
Action:Reiterated
Date:08/28/26
The score is held down primarily by very weak financial performance (losses, negative free cash flow, and negative equity with high debt), which creates elevated solvency and liquidity risk. Technicals also reflect a longer-term downtrend with only neutral momentum. The earnings call adds a modest offset from reaffirmed guidance and progress toward positive adjusted EBITDA, but near-term note maturities, revenue timing risk, and higher bad-debt-related expenses keep the outlook cautious.
Positive Factors
Tokenization Services Expansion
The new division could add fee-based revenue and deepen Caliber’s differentiation in tokenized private real estate. Its white-glove model and proprietary smart contracts may support recurring institutional relationships as the platform scales.
Negative Factors
Highly Leveraged Balance Sheet
High debt combined with negative equity materially limits financial flexibility and increases refinancing and solvency risk. Recurrent negative equity also suggests losses or write-downs have weakened the capital base, potentially constraining future investment.
Read all positive and negative factors
Positive Factors
Negative Factors
Tokenization Services Expansion
The new division could add fee-based revenue and deepen Caliber’s differentiation in tokenized private real estate. Its white-glove model and proprietary smart contracts may support recurring institutional relationships as the platform scales.
Read all positive factors
CaliberCos, Inc. Class A (CWD) vs. SPDR S&P 500 ETF (SPY)
Market Cap
$5.99M
Dividend YieldN/A
Average Volume (3M)6.95M
Price to Earnings (P/E)―
Beta (1Y)1.40
Revenue Growth-49.72%
EPS Growth78.89%
CountryUS
Employees50
SectorFinancial
Sector Strength70
IndustryAsset Management
Share Statistics
EPS (TTM)-4.76
Shares Outstanding10,384,653
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 Cap<0.01
Enterprise Value/Revenue<0.01
Enterprise Value/Gross Profit>-0.01
Enterprise Value/Ebitda>-0.01
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...
CaliberCos, Inc. Class A Earnings Call Summary
Earnings Call Date:Aug 13, 2026
(Q2-2026)
| % Change Since: |
Next Earnings Date:Nov 18, 2026
Earnings Call Sentiment Neutral
The call conveyed a mix of strategic progress and operational challenges. Positives include the successful launch of tokenization (first fund tokenized), a return to positive platform-adjusted EBITDA (improvement of ~$0.4M), reaffirmed full-year guidance ($18M–$22M revenue and expected positive adjusted EBITDA), progress on multiple real-estate development projects, and measured fundraising/channel expansion. Negatives include a ~10% year-over-year decline in platform revenue due to timing of financings, an ~11% increase in platform expenses driven by bad-debt reserves, meaningful near-term corporate note maturities (~$21M maturing in 12 months) creating liquidity risk, and some expected financings shifting later in the year. Overall, achievements and strategic progress are offset by near-term financing/timing and credit challenges, leaving a balanced but cautious tone.Positive Updates
First Fund Tokenization Completed
Caliber completed its first fund tokenization (Pure Pickleball & Padel) and is working on a second (Steamboat Springs Hyatt Studios). Management expects an initial slate of ~ $100 million in managed assets to be part of the tokenization program, positioning Caliber as an early entrant in tokenized private real estate.
Negative Updates
Platform Revenue Decline
Platform revenue declined to $3.7 million in Q2 2026 from $4.1 million in the prior-year quarter, a decrease of ~10% year-over-year, primarily due to the timing of development and construction fee recognition and delayed financings.
Read all updates
Q2-2026 Updates
Positive
Negative
First Fund Tokenization Completed
Caliber completed its first fund tokenization (Pure Pickleball & Padel) and is working on a second (Steamboat Springs Hyatt Studios). Management expects an initial slate of ~ $100 million in managed assets to be part of the tokenization program, positioning Caliber as an early entrant in tokenized private real estate.
Read all positive updates
Company Guidance
Caliber reaffirmed full‑year 2026 guidance of $18.0–$22.0 million in revenue with positive adjusted EBITDA (projected adjusted EBITDA profitability in 2026), expecting roughly 60% of revenue growth from project‑level financings and 40% from capital formation and asset management; key Q2 metrics included platform revenue of $3.7M (vs. $4.1M a year ago), platform‑adjusted EBITDA of ~$0.3M (improved ~$0.4M from a -$0.1M loss Y/Y), platform expenses of $5.9M (+~11% Y/Y from $5.3M), managed capital of $495.6M (vs. $489M prior quarter and $498M year‑ago), estimated performance allocations of $96M (vs. $99M prior quarter and $85M year‑ago), a LINK treasury of ~229,203 tokens (fair value $1.7M) with ~278,357 LINK sold for $2.5M proceeds, and a corporate note program totaling ~148 notes with ~$26M principal (≈$21M maturing within 12 months) while the company has refinanced $6.4M into 36‑month notes and converted ~$5.3M of notes into equity.CaliberCos, Inc. Class A Financial Statement Overview
Summary
Income Statement
14
Very Negative
Balance Sheet
9
Very Negative
Cash Flow
18
Very Negative
| Breakdown | TTM | Dec 2025 | Mar 2025 | Mar 2024 | Dec 2022 | Dec 2021 |
|---|---|---|---|---|---|---|
Income Statement | ||||||
| Total Revenue | 12.31M | 20.10M | 51.12M | 90.94M | 83.96M | 56.03M |
| Gross Profit | -1.20M | -3.33M | 24.62M | 10.27M | 23.29M | 34.00K |
| EBITDA | -18.61M | -14.01M | -7.14M | -11.99M | 24.34M | -9.97M |
| Net Income | -19.07M | -21.80M | -19.78M | -12.70M | 2.02M | -698.00K |
Balance Sheet | ||||||
| Total Assets | 177.66M | 135.40M | 105.53M | 299.43M | 278.83M | 245.65M |
| Cash, Cash Equivalents and Short-Term Investments | 1.44M | 2.54M | 2.31M | 3.81M | 7.66M | 8.38M |
| Total Debt | 130.82M | 98.23M | 81.76M | 209.61M | 177.63M | 166.31M |
| Total Liabilities | 142.94M | 109.17M | 94.28M | 233.41M | 201.65M | 195.96M |
| Stockholders Equity | -1.44M | 1.33M | -12.59M | 2.62M | -3.21M | -9.09M |
Cash Flow | ||||||
| Free Cash Flow | -14.45M | -12.06M | 555.00K | -18.72M | -8.11M | -15.02M |
| Operating Cash Flow | -14.45M | -12.06M | 555.00K | -18.72M | -7.43M | -15.02M |
| Investing Cash Flow | -17.16M | -23.51M | -19.63M | 10.69M | -31.75M | -14.31M |
| Financing Cash Flow | 33.26M | 36.69M | 6.33M | 9.74M | 38.58M | 35.05M |
CaliberCos, Inc. Class A Technical Analysis
Negative
0.56
Price Trends
0.64
Negative
0.82
Negative
1.18
Negative
Market Momentum
-0.03
Negative
46.60
Neutral
34.45
Neutral
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 0.56 is above the 20-day moving average (MA) of 0.53, below the 50-day MA of 0.64, and below the 200-day MA of 1.18, indicating a neutral trend. The MACD of -0.03 indicates Negative momentum. The RSI at 46.60 is Neutral, neither overbought nor oversold. The STOCH value of 34.45 is Neutral, 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% | |
49 Neutral | $6.63B | -20.68 | -38.57% | ― | ― | ― | |
47 Neutral | $36.36M | -0.44 | -61.99% | 2.85% | 44.90% | -447.95% | |
46 Neutral | $32.38M | -73.63 | -42.08% | ― | ― | ― | |
44 Neutral | $5.99M | -0.11 | 641.51% | ― | -49.72% | 78.89% | |
41 Neutral | $35.55M | -0.05 | 22.15% | ― | -38.32% | 94.03% | |
34 Underperform | $5.61M | >-0.01 | 1.94% | ― | ― | -8154.56% |
* Financial Sector Average
CWD
CaliberCos, Inc. Class A
0.54
-3.92
-87.83%
BTTC
Black Titan
0.49
-3.50
-87.74%
MAAS
Highest Performances Holdings
14.79
10.92
282.17%
BENF
Beneficient
2.20
-0.84
-27.63%
GRAN
Grande Group Limited Class A
1.34
-2.67
-66.58%
MLCI
Mount Logan Capital Inc
3.25
-4.52
-58.16%
CaliberCos, Inc. Class A Corporate Events
Business Operations and StrategyProduct-Related Announcements
CaliberCos Launches Caliber Tokenization Services for Real Estate
Positive
Aug 27, 2026
On August 27, 2026, CaliberCos Inc. launched Caliber Tokenization Services, LLC, a new division offering full‑service real‑world asset tokenization for family offices with at least $50 million in real estate under the Tokenized by Cali...
Delistings and Listing ChangesRegulatory Filings and Compliance
CaliberCos Faces Nasdaq Non-Compliance, Considers Remedial Actions
Negative
Aug 26, 2026
On August 21, 2026, CaliberCos Inc. received notice from Nasdaq that its Class A common stock had closed below $1.00 for 33 consecutive business days, putting the company out of compliance with the exchange’s minimum bid price requirement fo...
Business Operations and StrategyProduct-Related Announcements
CaliberCos Launches First Tokenized Real Estate Investment
Positive
Aug 14, 2026
On August 13, 2026, CaliberCos Inc. launched its first tokenized real estate investment on its platform, the PURE Pickleball Padel offering in Scottsdale, Ariz., marking the company’s initial live use of blockchain-based ownership for a rea...
Business Operations and StrategyFinancial DisclosuresPrivate Placements and Financing
CaliberCos Posts Positive EBITDA, Advances Real Estate Tokenization
Positive
Aug 13, 2026
Caliber reported that second-quarter 2026 platform revenue fell to $3.7 million from $4.1 million a year earlier, but platform adjusted EBITDA turned positive at $0.3 million and platform net loss narrowed to $3.4 million, reflecting progress towa...
Business Operations and StrategyFinancial Disclosures
CaliberCos to Announce Q2 2026 Earnings Results
Neutral
Aug 4, 2026
On July 31, 2026, CaliberCos Inc. stated that it would publish its second-quarter 2026 financial results after the U.S. market closes on Thursday, August 13, 2026, followed by a webcast and conference call at 5:00 p.m. Eastern Time. The company pl...
Business Operations and Strategy
CaliberCos Breaks Ground on First Hyatt Studios Hotel
Positive
Jul 17, 2026
On July 16, 2026, CaliberCos Inc. announced it had broken ground on a Hyatt Studios extended-stay hotel in Steamboat Springs, Colorado, marking the start of construction on a four-story, 114-room property designed for longer stays. The project, lo...
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...
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.