The reaffirmed guidance provides a floor, but the cash burn trajectory ($0.5M cash vs $1.4M quarterly operating cash burn) and the S-3 overhang suggest continued dilution risk. Monitor the pace of project-level financings in H2 2026 — if revenue milestones slip, the stock could face further pressure. The digital asset treasury adds volatility without a clear near-term catalyst.
Price Chart
Executive Summary
CaliberCos reported Q1 2026 Platform revenue of $4.1M (+16% YoY) and a narrower Platform Adjusted EBITDA loss of $0.3M, in line with internal expectations. The company reaffirmed its full-year 2026 guidance of $18M-$22M revenue and positive adjusted EBITDA, but the GAAP net loss widened to $3.6M from $4.4M a year ago, and the digital asset treasury suffered a $1.9M unrealized loss. A prior S-3 shelf filing for resale of up to 2.16M shares and a $37.8M managed capital write-off add to the bearish overhang.
Key Financial Metrics
Key Facts
- Platform revenue $4.1M vs $3.5M YoY (+16%)
- Platform net loss $4.3M ($0.62/share) vs $4.1M ($3.59/share) YoY
- Platform Adjusted EBITDA loss $0.3M vs $1.4M positive YoY
- Consolidated net loss $3.6M ($0.52/share) vs $4.4M ($3.85/share) YoY
- Full-year 2026 guidance reaffirmed: revenue $18M-$22M, positive adjusted EBITDA
- Digital asset treasury held 507,560 LINK tokens valued at $4.5M; $1.9M unrealized loss in Q1
- Managed capital fell to $489.6M from $517.2M, driven by $37.8M in investment write-offs
- FV AUM declined to $736.4M from $779.7M at year-end 2025
- S-3 shelf filed April 2026 for resale of up to 2,162,791 shares by selling stockholders
- Cash balance dropped to $0.5M from $2.5M at year-end 2025
- Corporate notes reduced to $42.4M from $46.3M
Financial Impact
Platform revenue grew 16% YoY to $4.1M, but the company remains deeply unprofitable with a $3.6M GAAP net loss and only $0.5M cash on hand. The $37.8M managed capital write-off and $1.9M digital asset loss underscore asset quality and volatility risks.
Risk Factors
- Cash runway: only $0.5M cash at quarter-end, may require additional capital or debt restructuring
- S-3 shelf registration allows up to 2.16M shares to be resold, creating overhang
- Managed capital declined 5.3% QoQ due to $37.8M write-offs, signaling asset quality issues
- Digital asset treasury ($4.5M LINK) subject to crypto volatility; $1.9M unrealized loss in Q1
- Revenue recognition is milestone-driven and back-end weighted; any delays in project financings could miss guidance
Market Snapshot
Investment Themes
Documents Analyzed
This report is based on 8 SEC documents filed with EDGAR.
| Document | Accession Number |
|---|---|
| 8-K Filing (Primary) | 0001627282-26-000030 |
| Document: a20260331supplementalass.htm | 0001627282-26-000030 |
| Document: cwd-supplementaldeckq120.htm | 0001627282-26-000030 |
| Document: cwd-20260513.htm | 0001627282-26-000030 |
| Document: 0001627282-26-000030-index-headers.html | 0001627282-26-000030 |
| Document: 0001627282-26-000030-index.html | 0001627282-26-000030 |
| Document: 0001627282-26-000030.txt | 0001627282-26-000030 |
| 8-K Data (Synthetic) | 0001627282-26-000030 |
Filters
| Type | Now | ||||
|---|---|---|---|---|---|
Oct 19, 2026 7d ago | 8-K | $0.4340 | awaiting T+5 | — | $0.3800 (−12.44%) |
Aug 27, 2026 8w ago | 8-K | $0.5700 $0.5040 | ▼ −11.58% | ▼ −10.81% | $0.3800 (−33.33%) |
Aug 26, 2026 8w ago | 8-K | $0.5700 $0.5040 | ▲ +11.58% | ▲ +10.81% | $0.3800 (+33.33%) |
Aug 14, 2026 10w ago | 8-K | $0.5250 $0.5229 | ▼ −0.40% | ▲ +0.97% | $0.3800 (−27.62%) |
Aug 13, 2026 10w ago | Press Release | $0.5250 $0.5229 | ▲ +0.40% | ▼ −0.97% | $0.3800 (+27.62%) |
Aug 4, 2026 11w ago | 8-K | $0.4650 $0.5580 | ▲ +20.00% | ▲ +20.10% | $0.3800 (−18.28%) |
Jul 17, 2026 14w ago | 8-K | $0.7742 $0.6915 | ▼ −10.68% | ▼ −9.99% | $0.3800 (−50.92%) |
Jun 5, 2026 20w ago | 8-K | $0.8400 $0.7920 | ▼ −5.71% | ▼ −7.83% | $0.3800 (−54.76%) |
Jun 5, 2026 20w ago | Press Release | $0.8400 $0.7920 | ▲ +5.71% | ▲ +7.83% | $0.3800 (+54.76%) |
May 13, 2026 23w ago | 8-K | $1.12 $1.02 | ▲ +8.93% | ▲ +8.21% | $0.3800 (+66.07%) |
US Market Status
Subscribe to SecBot
Get Real-Time SEC Filing Intelligence
Comprehensive SEC filing analysis delivered the moment filings hit EDGAR. Sentiment scoring, impact analysis, and actionable insights for every material event.
Create a free account Live analysis, Telegram alerts, watchlists and the MCP server for subscribers