Caliber reports Q1 net loss $3.8M; revenue down 22.3% YoY; announces $6M cost savings plan

CaliberCos Inc.

2024-Q1 EPS reported -$0.18 revenue$22,951,000

Total revenue $23.0M, down 22.3% YoY; net loss $3.8M ($0.18/sh) vs loss $1.2M ($0.07).
Adjusted EBITDA loss $1.7M vs positive $1.0M; FV AUM $766.7M (+3.4%).
Identified $6M+ annual cost savings; target operating cost ~$15M; $2.5M non-payroll, $4M payroll by 2025.
Subsequent events: land sales total $20M (two parcels); CHT $10M preferred equity commitment; SP10 capitalization.
Fundraising team signed 26 selling agreements with reps managing $3.4B AUM.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 1.0

CaliberCos Inc. reported first quarter ended on March 31, 2024 results: revenue $23.0 million, net income Net loss attributable to Caliber of $3.8 million, EPS $0.18 per diluted share.

Period: first quarter ended on March 31, 2024
Revenue: $23.0 million
Net income: Net loss attributable to Caliber of $3.8 million
EPS: $0.18 per diluted share
Result: reported results

Exact text from the filing

First Quarter 2024 Financial Highlights (compared to first quarter 2023) • Total revenue of $23.0 million, a 22.3% decrease • Platform revenue of $4.7 million, a 25.6% decrease – Asset management revenue of $4.6 million, a 16.1% increase – Performance allocations of $0.2 million, related to the sale of land in Johnstown, Colorado • Net loss attributable to Caliber of $3.8 million, or $0.18 per diluted share, compared to net loss attributable to Caliber of $1.2 million or $0.07 per diluted share • Caliber Adjusted EBITDA loss of $1.7 million, compared to Caliber Adjusted EBITDA of $1.0 million • Fair value assets under management (“FV AUM”) of $766.7 million, a 3.4% increase, primarily due to the L.T.D.

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Source: SEC EDGAR

accession 0001627282-24-000053

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