Company Overview - Caliber (NASDAQ: CWD) is a real estate investor, developer, and manager with over $2.9 billion in managed assets, specializing in hospitality, multi-family residential, and multi-tenant industrial sectors [3]. Leadership Change - Greg James has been promoted to Chief Operating Officer of Caliber, effective July 7, 2025, succeeding Ignacio Martinez [1][2]. - Greg James previously served as COO of Caliber Hospitality Trust and Head of Hotel Asset Management, bringing extensive experience in hotel operations and asset management [2]. Experience and Background - Greg James has over 34 years of experience in the hotel industry, including nearly two decades at Summit Hotel Properties, where he was Senior Vice President of Operations [2]. - His prior experience includes managing a hotel investment portfolio of over 100 assets valued at $3.5 billion across 26 states [2]. Strategic Focus - The company aims to leverage Greg James's expertise to enhance its acquisitions, development, and asset management services, aligning with its goal of efficient capital use and generating positive adjusted EBITDA [2]. - Caliber's competitive advantage lies in investing in overlooked projects, strategies, and geographies, supported by an in-house shared services group for better control and visibility into future investment opportunities [3].

Core Insights - Caliber successfully closed a $22.5 million refinance for the DoubleTree by Hilton Hotel in Tucson, Arizona, which is part of its Tax-Advantaged Opportunity Zone Fund [1][2] - The proceeds will be utilized to strengthen the asset and support reinvestment across the Fund's portfolio, enhancing growth and value creation [2] - The transaction highlights the long-term value of the hotel asset and marks Caliber's first financing with Citi and first closing with Arriba Capital [3][4] Company Overview - Caliber manages over $2.9 billion in assets and specializes in hospitality, multi-family residential, and multi-tenant industrial sectors [6] - The company focuses on strategic real estate investments in high-growth markets across the Southwest, aiming for long-term risk-adjusted returns while positively impacting communities [4] - The Tax-Advantaged Opportunity Zone Fund currently manages approximately $271 million across 18 individual real estate assets and is closed for new investments [4]

Core Viewpoint - Caliber has regained compliance with Nasdaq Listing Rule 5550(a)(2) by maintaining a minimum bid price of $1.00 per share for the required period, thus resolving the previous non-compliance issue [1][2]. Company Overview - Caliber (CaliberCos Inc.) manages over $2.9 billion in assets and has a 16-year track record in real estate management and development, focusing on hospitality, multi-family residential, and multi-tenant industrial sectors [3]. - The company aims to generate profits in all market conditions and has a competitive advantage by investing in overlooked projects, strategies, and geographies [3]. - Caliber utilizes an in-house shared services group to enhance control over real estate and improve visibility into future investment opportunities [3]. Compliance Details - On May 14, 2024, Caliber was notified of non-compliance with Nasdaq due to its stock price falling below $1.00 for 30 consecutive business days [2]. - The Compliance Notice confirmed that from May 2, 2025, to May 15, 2025, the closing bid price of Caliber's common stock was $1.00 or greater, leading to regained compliance [2].

Financial Performance - Total revenues for the three months ended March 31, 2025, were $7.3 million, a decrease of 68.4% compared to $23.0 million in 2024, primarily due to the deconsolidation of Caliber Hospitality Trust and related entities[241]. - Total expenses for the same period were $9.9 million, down 63.9% from $27.3 million in 2024, mainly due to reduced consolidated fund expenses following deconsolidation[242]. - Unconsolidated Platform revenues decreased to $3.5 million in Q1 2025 from $4.7 million in Q1 2024, representing a 24.9% decline[244]. - For the three months ended March 31, 2025, CaliberCos Inc. reported a net loss attributable to the company of $4.407 million, compared to a net loss of $3.805 million in the same period of 2024, representing an increase in loss of approximately 15.8%[278]. - Total revenues for the three months ended March 31, 2025, were $7.261 million, a decrease from $22.951 million in the same period of 2024, indicating a decline of approximately 68.4%[279][280]. - Operating costs for the three months ended March 31, 2025, were $4.044 million, down from $5.262 million in 2024, reflecting a reduction of about 23.1%[279][280]. Assets and Liabilities - Total assets as of March 31, 2025, were $55.725 million, down from $57.077 million as of December 31, 2024[252]. - Total liabilities increased to $67.089 million as of March 31, 2025, compared to $65.521 million at the end of 2024[252]. - The stockholders' deficit equity was $(11.364) million as of March 31, 2025, worsening from $(8.444) million at the end of 2024[252]. - The company had a portfolio of 196 unsecured notes with an aggregate principal balance of $33.2 million as of March 31, 2025, with $26.1 million maturing within the next 12 months[281]. - As of March 31, 2025, fixed-rate debt had a fair value of $58.1 million and a carrying value of $62.6 million[321]. Investment and Development - Caliber has over $2.9 billion in assets under management (AUM) and assets under development (AUD) as of March 31, 2025[220]. - The company is actively developing 1,776 multifamily units, 697 single-family units, and 3.7 million square feet of commercial and industrial space, with a total estimated project cost of $2.1 billion[221]. - The company estimates it could earn up to $87.7 million in performance allocations if all AUD projects are completed and sold[221]. - Caliber's investment strategy focuses on middle-market projects valued between $5.0 million and $50.0 million, leveraging local market intelligence[222]. - The company anticipates that recent legislative changes will significantly expand its potential investor base, although the exact impact remains uncertain[230]. - The company raised $2.99 million in originations during the first quarter of 2025, contributing to the overall managed capital growth[258]. - The residential investment funds saw an increase of $1.9 million in managed capital, driven by $1.1 million in capital raised and $1.0 million from diversified funds[261]. - The commercial investment funds experienced a $1.3 million increase in managed capital, with $0.6 million raised and $0.8 million contributed by diversified funds[262]. - The total real estate FV AUM as of March 31, 2025, was $752.7 million, compared to $716.6 million as of December 31, 2024, reflecting a growth of 5.0%[265]. Interest and Financing - Interest expense rose to $1.6 million in Q1 2025 from $1.3 million in Q1 2024, driven by an increase in short-term operating loans[249]. - The company incurred interest expense of $1.611 million for the three months ended March 31, 2025, compared to $1.294 million in the same period of 2024, representing an increase of approximately 24.5%[290]. - A 100 basis point increase in variable interest rates on variable-rate debt would increase annual interest expense by $0.2 million[322]. - Management plans to raise $20.0 million through preferred stock series AA financing to address the maturity of corporate notes[284]. - Year to date through May 13, 2025, the company has successfully refinanced $2.8 million of 12-month term corporate notes into a new 36-month term corporate note program[285]. Market Conditions - The annual inflation rate in the U.S. decreased to 2.4% in March 2025, following a peak of 9.1% in June 2022, impacting investment behaviors[236]. - The Federal Reserve increased the federal funds rate by 525 basis points from January 1, 2022, to September 18, 2024, before decreasing it by 100 basis points by March 31, 2025[236]. - Increased costs of construction materials and labor due to inflation are affecting project execution and overall revenue generation[236]. Cash Flow - Net cash used in operating activities for the three months ended March 31, 2025, was $(1.738) million, compared to $(1.527) million in 2024, indicating an increase in cash outflow of about 13.8%[291]. - The company reported a net change in cash and cash equivalents of $(537) thousand for the three months ended March 31, 2025, an improvement from $(12.306) million in the same period of 2024[292]. - Net cash flows used in operating activities increased during the three months ended March 31, 2025, primarily due to increased interest payments related to corporate notes and short-term loans[293]. - Net cash flows used in investing activities remained relatively constant during the three months ended March 31, 2025, with changes primarily due to the deconsolidation of VIEs and a decrease in investment in real estate assets[294]. - Net cash flows provided by financing activities increased by $2.7 million during the three months ended March 31, 2025, compared to the same period in 2024[295]. Revenue Recognition - Hospitality revenues are recognized as earned when a guest occupies a room or utilizes hotel services, with revenues recorded net of sales tax[312]. - Consolidated funds generated rental revenue of $0.1 million for the three months ended March 31, 2025, compared to $0.4 million for the same period in 2024[316]. - Interest income for the three months ended March 31, 2025, was $0, down from $1.0 million for the same period in 2024[317]. Risk Management - The company diversifies investments across multiple asset types and geographic locations to mitigate credit risk[323]. - The company maintains financing relationships with a diversified mix of lenders, including large national banks and private equity lenders[324].

Core Insights - Caliber is focusing on sustainable profitability and has narrowed its strategy to emphasize hospitality, multifamily, and multi-tenant industrial real estate [3][5] - The company reported a platform revenue of $3.5 million for Q1 2025, down from $4.7 million in Q1 2024, with a platform net loss of $4.1 million compared to a loss of $3.6 million in the prior year [7][15] - Recent partnerships and projects, including a collaboration with Hyatt and the approval of a redevelopment project, are expected to enhance future performance [4][8] Financial Highlights - Platform revenue decreased to $3.5 million in Q1 2025 from $4.7 million in Q1 2024, with asset management revenue also at $3.5 million [7][22] - The platform net loss was $4.1 million, or $3.59 per diluted share, compared to a net loss of $3.6 million, or $3.30 per diluted share in the previous year [7][15] - Total consolidated revenue fell to $7.3 million from $23.0 million, primarily due to the deconsolidation of certain entities [15][29] Business Developments - Caliber announced a partnership with Hyatt to develop 15 new Hyatt Studios hotels across several states, which is seen as a strategic advantage [4][8] - The company launched a 1031 Exchange Program aimed at providing tax-deferral benefits for real estate investors [8] - The Phoenix City Council approved Caliber's Canyon Village redevelopment project, converting a distressed office building into a multifamily residential building [8] Asset Management Performance - The fair value of assets under management (AUM) increased to $830.8 million as of March 31, 2025, up from $794.9 million at the end of 2024 [24][28] - The company reported a total asset management revenue of $3.5 million for Q1 2025, down from $4.6 million in Q1 2024 [22][31] - The platform adjusted EBITDA loss was $1.4 million, an improvement from a loss of $1.7 million in the previous year [7][48]

SCOTTSDALE, Ariz., May 13, 2025 (GLOBE NEWSWIRE) -- Caliber (NASDAQ: CWD), a real estate investor, developer, and manager, today announced the launch of Caliber Hospitality Development, LLC (“CHD”), a joint venture between Caliber and GIA Hospitality, LLC (“GIA”). CHD will serve as the exclusive development platform for Caliber’s opportunistic hospitality investments, with a focus on acquiring distressed hotel assets and developing extended stay hotels in high-demand markets. The joint venture was seeded wi ...

SCOTTSDALE, Ariz., May 08, 2025 (GLOBE NEWSWIRE) -- Caliber (NASDAQ: CWD), a real estate investor, developer, and manager, today announced that its joint venture development, PURE Pickleball & Padel™ has gained Design Review approval from the Salt River Pima-Maricopa Indian Community (SRPMIC) Planning Department. This approval positions the project to seek a building permit once final construction documents are complete, with a planned ground-breaking shortly after receiving the permit. PURE Pickleball & Pa ...

Core Viewpoint - Caliber (NASDAQ: CWD) will release its first quarter 2025 financial results on May 15, 2025, and will host a conference call to discuss these results [1][2]. Group 1: Financial Results Announcement - Caliber will announce its Q1 2025 financial results after market close on May 15, 2025 [1]. - A webcast/conference call is scheduled for the same day at 5:00 pm ET for interested parties to discuss the results [1]. Group 2: Accessing the Earnings Call - Investors can join the live earnings call by dialing (800) 715-9871 for domestic calls or (646) 307-1963 for international calls, using conference ID 8746759 [2]. - The call can also be accessed online via Caliber's investor relations page [2]. Group 3: Company Overview - Caliber manages over $2.9 billion in assets and has a 16-year track record in real estate management and development [4]. - The company specializes in hospitality, multi-family residential, and multi-tenant industrial sectors, aiming to generate profits in all market conditions [4]. - Caliber's competitive advantage lies in investing in overlooked projects and geographies, supported by an in-house shared services group for better control and visibility [4].

Core Insights - Caliber has entered into a Development Rights Agreement with Hyatt Hotels Corporation to develop 15 new Hyatt Studios hotels across five states in the U.S. [1][3] - The first hotel is set to break ground in Georgetown, Texas, in Q4 2025, followed by a second hotel in Scottsdale, Arizona, in Q2 2026 [1][4] - Hyatt Studios is Hyatt's first upper-midscale extended-stay brand, designed with input from owners and guests, featuring efficient build costs and a lean operating model [2][3] Company Overview - Caliber manages over $2.9 billion in assets and focuses on real estate investment and development, aiming to generate profits in all market conditions [6] - The company has a competitive advantage through its in-house shared services group, which enhances control over real estate and investment opportunities [6] - Caliber Hospitality Trust, a subsidiary of Caliber, targets middle-market and extended-stay hotels in attractive locations [7] Market Context - The hotel inventory in the U.S. is currently lower than in January 2020, with historically low new construction starts, creating a favorable environment for developing Hyatt Studios hotels [3] - The agreement with Hyatt is expected to deliver $400 million in additional assets under management over the next three to five years, contributing to significant growth in revenue [4]

Core Viewpoint - Caliber will implement a 1-for-20 reverse stock split of its Class A and Class B common stock effective May 2, 2025, to comply with Nasdaq's minimum bid price requirement of $1.00 [1][2][3] Group 1: Reverse Stock Split Details - The reverse stock split will convert twenty current shares into one issued and outstanding share, without changing the par value or the authorized number of shares [4] - Approximately 18,574,292 shares of Class A Common Stock and 7,416,414 shares of Class B Common Stock will be reduced to approximately 928,715 shares of Class A and 370,821 shares of Class B after the split [5] - No fractional shares will be issued; all fractional shares will be rounded up to the nearest whole share [5] Group 2: Stockholder Information - Registered stockholders holding pre-split shares electronically will not need to take action to receive post-split shares, while those holding shares via brokers will have their positions automatically adjusted [6] - The reverse stock split was approved by stockholders at a special meeting on April 21, 2025, with the board of directors deciding on the 1-for-20 ratio [3] Group 3: Company Overview - Caliber manages over $2.9 billion in assets and specializes in hospitality, multi-family residential, and multi-tenant industrial sectors [7] - The company aims to generate returns in all market conditions and focuses on investment opportunities often overlooked by global real estate institutions [7]