CaliberCos Inc. Q4 FY2025 earnings call

Chris discussed strategic expansion into digital assets and blockchain, financial position, private equity and real estate platform project progress, and 2026 outlook. Caliber expanded digital asset business, had delays in capital markets activities affecting revenue timing but underlying value intact. Managed capital reached $517 million at year end. Updates on Hyatt Studios, Pure Pickleball, Canyon, Encore projects. Focus on executing financings, capital formation, and digital asset tokenization in 2026.

Platform revenue for Q4 2025 was $4 million vs. $4.6 million in prior year quarter. Asset management fees increased 6% y/y, while construction and development revenues declined due to timing of project financings. Total platform performance allocations at year end totaled $104 million, up from $90.5 million in prior quarter.

Caliber issued first forward-looking guidance as public company, expecting revenue range of $18 to $22 million in 2026, and aiming for adjusted EBITDA profitability and positive net operating income in 2026.

Information discussed may include forward-looking statements with risks and uncertainties. Actual future results could differ significantly from statements. Further info on risk factors in quarterly and annual reports filed with SEC.

Q: On your digital strategy, any timing window for digitization of the two projects?

A: Actively in process, think both projects will be tokenized in coming months.

Q: Finances pushed from Q4 to Q1, any color on amounts?

A: Pipeline has ~$200 million of financings available to close, ~$20 million oscillated between end of Q4 and beginning of Q1.

Q: Conversion program for perpetual preferred, any takers?

A: Have a lot of interest since launching the program.