CaliberCos Inc. reported its third‑quarter 2025 results on November 13 2025, showing consolidated revenue of $3.64 million—down 68% from $11.3 million in the same quarter last year—while net loss widened to $5.2 million, largely driven by a $2.5 million one‑time investment impairment charge. The company’s non‑GAAP earnings per share fell to –$1.70, missing the consensus estimate of –$0.32 by more than 400%.
Revenue decline was primarily caused by the removal of several portfolio companies from the consolidated statements and a sharp drop in one‑off fee income. Platform revenue, which had been a key growth driver, fell to $3.5 million from $7.4 million year‑over‑year, reflecting seasonality in project start and completion cycles and the loss of non‑recurring fee income.
Despite the weak operating results, CaliberCos raised more than $30 million in common and preferred equity, improving liquidity and reducing a $17.6 million stockholders’ deficit that existed at the end of June. The capital infusion strengthens the balance sheet and provides a buffer for the company’s ongoing strategic initiatives.
The company also formally launched its Digital Asset Treasury strategy, acquiring a sizable portfolio of Chainlink (LINK) tokens. The treasury is intended to generate yield through staking and to diversify the firm’s asset base, positioning CaliberCos at the intersection of real‑estate and blockchain infrastructure.
CEO Chris Loeffler said the quarter “marked a pivotal step forward” for CaliberCos, noting that the equity raise and the DAT launch “strengthen our balance sheet and broaden our revenue streams.” He added that the short‑term impact on earnings is limited, but the company is “on the path toward consistent, profitable growth.”
Investors reacted negatively to the earnings miss, with market sentiment dampened by the significant shortfall in both revenue and earnings. The company’s guidance for future periods was withheld, leaving uncertainty about the near‑term outlook.
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