Corrects Q1 net income to -$3.6 mln from -$4.34 mln in Key Details table

Overview

• US real estate and digital asset manager's Q1 platform revenue grew 16% yr/yr

• Platform Adjusted EBITDA loss narrowed to $0.3 mln, reflecting progress toward break-even

• Company reaffirmed 2026 guidance and highlighted milestones in capital formation and project financing

Outlook

• Caliber reaffirms 2026 revenue guidance of $18.0 mln to $22.0 mln

• Company expects positive net operating income and Adjusted EBITDA profitability in 2026

• Caliber anticipates 2026 revenue to be weighted toward the second half of the year

Result Drivers

• ASSET MANAGEMENT FEES - Platform revenue growth was driven by higher asset management fees, including a nonrecurring fee

• CAPITAL FORMATION AND PROJECT FINANCING - Company said execution across capital formation and project financing initiatives contributed to narrowing Platform Adjusted EBITDA loss

• DIGITAL ASSET SALES - Proceeds from LINK token sales were redeployed to support project-level financings, including the Steamboat Hyatt Studios development

Company press release: ID:nGNX5hx3R4

Key Details

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