Core Insights - The company is on track to achieve platform adjusted EBITDA profitability in the second half of 2025 [1][3] - The second quarter results reflect a positive step towards this goal, with a focus on hospitality, multifamily, and multi-tenant industrial real estate [3][6] - Recent legislative changes, specifically the passage of the BBB, have made the opportunity zone program permanent, benefiting the company's investment strategies [3] Financial Highlights - Platform revenue for Q2 2025 was $4.1 million, slightly down from $4.2 million in Q2 2024 [6] - The platform net loss was $4.9 million, or $3.87 per diluted share, compared to a net loss of $4.6 million, or $4.25 per diluted share in the prior year [6] - Platform adjusted EBITDA loss improved to $0.1 million from a loss of $2.5 million in the same quarter last year [6] Business Updates - Key milestones include the approval of the Canyon Village redevelopment project, which will convert a distressed office building into a 376-unit rental multifamily residential building [7] - The joint venture project, PURE Pickleball & Padel™, received design review approval, positioning it for a building permit [7] - A successful refinancing of $22.5 million for the Doubletree by Hilton Hotel in Tucson was completed [7] Consolidated Financial Results - Total consolidated revenue decreased to $5.1 million from $8.2 million, primarily due to the deconsolidation of several entities in 2024 [7] - Consolidated net loss attributable to Caliber was $5.3 million, or $4.15 per diluted share, compared to a net loss of $4.7 million, or $4.34 per diluted share in the previous year [7] - Consolidated adjusted EBITDA showed improvement, reaching $0.1 million compared to a loss of $1.0 million in Q2 2024 [7] Assets Under Management - As of June 30, 2025, the fair value of assets under management (AUM) was $803.2 million, up from $794.9 million at the end of 2024 [23][24] - The company reported a total managed capital of $498.6 million, reflecting an increase from $492.5 million at the end of 2024 [25][26]

Core Viewpoint - WuXi Biologics has launched the WuXia293Stable platform, enhancing the development and manufacturing of complex biologics with high titers, stability, and quality [1][6]. Group 1: Platform Features - WuXia293Stable is designed for innovative, difficult-to-express molecules, demonstrating high titers of up to 5.0 g/L for monoclonal antibodies while improving purity [4][10]. - The platform maintains stable expression and consistent quality during long-term cell passages, enabling scalable clinical and commercial manufacturing at 2000L for fed-batch and 1000L for perfusion [4][10]. - It offers a comprehensive suite of services, including cell bank testing and viral clearance validation, as part of its one-stop CMC solution [4]. Group 2: Comparison with CHO Cells - Traditionally, CHO cells have been used for recombinant protein expression but may face challenges with complex modalities, leading to low titer levels and truncation issues [2]. - HEK293 cells, utilized in WuXia293Stable, can alleviate truncation issues while maintaining high titer levels, making them more suitable for complex molecules [2]. Group 3: Company Commitment and Vision - The launch of WuXia293Stable reinforces WuXi Biologics' commitment to technological innovation and the vision that every biologic can be made [6]. - The WuXia™ platform family, which includes WuXia293Stable, has generated over 1000 cell lines for various therapeutic applications, showcasing its proven track record [7][8].

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]

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].