CaliberCos Inc. (CWD) Income Statement
CWD 2025 at a glance
Fiscal year ended December 31, 2025 · U.S. dollarsCWD revenue and net income
Where CWD's revenue goes
2025Each bar shows an amount and its share of revenue. CWD kept −108.5% of revenue as net income.
CWD profit margins
CWD growth rates
to 2025| 1 year | 3 years | 5 years | 10 years | |
|---|---|---|---|---|
| Revenue | −60.7% | −37.9% | −11.9% | — |
| Gross profit | −113.5% | — | — | — |
| Operating income | — | — | — | — |
| Net income | — | — | — | — |
| EPS (diluted) | — | — | — | — |
1-year change and average annual growth (CAGR) over 3, 5 and 10 fiscal years. "—" when a starting value was zero or negative.
CWD quarterly EPS vs estimates
CaliberCos beat the analyst EPS estimate in 0 of the last 7 quarters. Next report: November 12, 2026 (estimate $0.13).
CWD income statement
| 2025 | 2024 | 2023 | 2022 | 2021 | 2020 | 2019 | 2018 | |
|---|---|---|---|---|---|---|---|---|
| Revenue | $20.1M | $51.1M | $90.9M | $84.0M | $56.0M | $37.9M | $56.3M | $51.0M |
| Cost of revenue | $23.4M | $26.5M | $80.7M | $60.7M | $56.0M | $44.7M | $40.8M | $41.3M |
| Gross profit | −$3.3M | $24.6M | $10.3M | $23.3M | $34,000 | −$6.8M | $15.5M | $9.8M |
| Research & development | — | — | $0 | $0 | $0 | $1 | $0 | $0 |
| Sales, general & admin | $6.6M | $7.5M | $7.8M | $7.9M | $6.8M | $3.8M | — | — |
| Total operating expenses | $10.0M | $37.9M | $38.8M | $31.7M | $22.1M | $19.5M | $10.4M | $2.8M |
| Operating income | −$13.4M | −$13.3M | −$28.6M | −$8.4M | −$22.1M | −$26.3M | $5.1M | −$81,753 |
| Interest income | $356,000 | $360,000 | $345,000 | $178,000 | $1,000 | $679,000 | — | — |
| Interest expense | $6.7M | $5.4M | $4.7M | $1.1M | $712,000 | $8.3M | $10.8M | $11.9M |
| Income before taxes | −$23.0M | −$21.5M | −$27.6M | $14.0M | −$21.2M | −$25.5M | $5.9M | −$13.1M |
| Income taxes | −$1.2M | −$1.7M | −$14.9M | $13.3M | −$18.1M | −$20.8M | $5.1M | −$81,750 |
| Net income | −$21.8M | −$19.8M | −$12.7M | $2.0M | −$698,000 | −$5.4M | $6.5M | −$13.1M |
| EBITDA | −$14.0M | −$7.1M | −$12.0M | $24.3M | −$10.0M | −$18.3M | $13.5M | $5.8M |
| EPS (diluted) | −$10.45 | −$21.40 | −$8.70 | $0.19 | −$0.03 | — | — | — |
| Gross margin | −16.6% | 48.2% | 11.3% | 27.7% | 0.1% | −18.1% | 27.6% | 19.2% |
| Operating margin | −66.5% | −26.0% | −31.4% | −10.1% | −39.5% | −69.5% | 9.1% | −0.2% |
| Net margin | −108.5% | −38.7% | −14.0% | 2.4% | −1.2% | −14.4% | 11.5% | −25.6% |
| Jun '26 | Mar '26 | Dec '25 | Sep '25 | Jun '25 | Mar '25 | Dec '24 | Sep '24 | Jun '24 | Mar '24 | Dec '23 | Sep '23 | |
|---|---|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $4.1M | $4.3M | $266,000 | $3.6M | $5.1M | $7.3M | $8.7M | $11.3M | $8.2M | $23.0M | $23.9M | $17.0M |
| Cost of revenue | $2.6M | $5.2M | $1.5M | $4.1M | $1.3M | $3.5M | $3.3M | −$12.4M | $10.3M | $25.3M | $21.0M | $18.6M |
| Gross profit | $1.5M | −$941,000 | −$1.2M | −$506,000 | $3.8M | $3.8M | $5.4M | $23.7M | −$2.2M | −$2.3M | $3.0M | −$1.6M |
| Sales, general & admin | $989,000 | $1.8M | $1.9M | $1.6M | $1.3M | $1.7M | $1.6M | $1.6M | $2.3M | $2.0M | $2.0M | $1.9M |
| Total operating expenses | $5.5M | $1.8M | $6.8M | $2.0M | $5.6M | $6.4M | $10.7M | $22.8M | $2.3M | $2.0M | $30.7M | $9.8M |
| Operating income | −$4.1M | −$2.7M | −$8.1M | −$2.5M | −$1.8M | −$2.6M | −$5.4M | $874,000 | −$4.5M | −$4.4M | −$6.7M | −$11.4M |
| Interest income | $291,000 | $252,000 | $266,000 | $28,000 | $30,000 | $32,000 | $35,000 | $51,000 | $157,000 | $117,000 | $71,000 | $85,000 |
| Interest expense | $1.3M | $1.4M | $1.5M | $1.3M | $1.7M | $1.6M | $1.5M | $1.3M | $1.3M | $1.3M | $1.3M | $1.3M |
| Income before taxes | −$5.5M | −$5.9M | −$8.1M | −$4.7M | −$5.7M | −$4.6M | −$10.9M | $1,000 | −$5.3M | −$5.3M | −$4.1M | −$12.2M |
| Income taxes | — | −$2.3M | −$339,000 | −$145,000 | −$401,000 | −$147,000 | −$91,000 | −$145,000 | −$586,000 | −$1.8M | — | −$7.1M |
| Net income | −$3.4M | −$3.6M | −$7.7M | −$4.4M | −$5.3M | −$4.4M | −$11.4M | $146,000 | −$4.7M | −$3.8M | −$2.4M | −$3.4M |
| EBITDA | −$4.7M | −$3.9M | −$6.3M | −$2.6M | −$1.3M | −$1.8M | −$4.5M | $2.2M | −$2.8M | −$2.1M | — | −$8.0M |
| EPS (diluted) | −$0.39 | −$0.52 | −$1.25 | −$1.20 | −$4.15 | −$3.85 | −$10.20 | −$3.20 | −$4.40 | −$3.60 | −$0.11 | −$3.20 |
| Gross margin | 35.6% | −21.9% | −459.0% | −13.9% | 74.8% | 52.3% | 61.9% | 209.9% | −26.5% | −10.1% | 12.3% | −9.5% |
| Operating margin | −98.9% | −63.9% | −3,030.1% | −69.9% | −36.0% | −35.9% | −61.6% | 7.7% | −54.7% | −19.0% | −28.1% | −67.0% |
| Net margin | −81.7% | −84.3% | −2,902.6% | −120.2% | −103.8% | −60.7% | −131.1% | 1.3% | −57.8% | −16.6% | −9.9% | −20.0% |
Quarterly columns are labeled by the month the quarter ended. Figures in U.S. dollars as reported in CWD's financial statements (latest annual report filed March 26, 2026); data from EODHD. Sales, general & administrative expenses include sales and marketing.
CWD financial results
In fiscal year 2025 (ended December 31, 2025), CaliberCos reported revenue of $20.1 million, down 60.7% from the year before. It had a net loss of $21.8 million, a net profit margin of −108.5%. Diluted earnings per share came to −$10.45. Over five years revenue grew at an average rate of −11.9% a year.
See the CWD stock overview for the latest quote and news, or the CWD chart for price history and technical indicators.
CWD income statement FAQ
What is CaliberCos's annual revenue?
CaliberCos reported total revenue of $20.1 million for fiscal year 2025, which ended on December 31, 2025. That was down 60.7% from $51.1 million the previous year.
Is CaliberCos profitable?
No. CaliberCos reported a net loss of $21.8 million in fiscal 2025, a net profit margin of −108.5%; its operating margin was −66.5%.
What is CaliberCos's gross margin?
CaliberCos's gross margin was −16.6% in fiscal 2025: for every $100 of revenue, CaliberCos kept $-17 after the direct cost of its products and services.
How fast is CaliberCos growing?
Revenue grew −11.9% a year on average over the last five fiscal years, from $37.9 million to $20.1 million.
What are CaliberCos's earnings per share?
CaliberCos earned $-10.45 per diluted share in fiscal 2025, compared with $-21.40 a year earlier.
When will CaliberCos report its next earnings?
CaliberCos is expected to report results for the quarter ending September 30, 2026 on November 12, 2026 after the market closes.
When does CaliberCos's fiscal year end?
CaliberCos's fiscal year ends in December. The latest annual report covers the year ended December 31, 2025 and was filed on March 26, 2026.