Slide 1: 2Q 2024 Earnings Supplemental
2Q 2024 Earnings Supplemental Building on a 15-year track record of profitable growth and success ©2024 Caliber
Slide 2: Disclaimers
Disclaimers Forward-Looking Statements This presentation includes statements concerning CaliberCos Inc.’s (the “Company,” or “Caliber”) expectations, beliefs, plans, objectives, goals, strategies, assumptions of future events, future financial performance, or growth and other statements that are not
Slide 3: Today's Speakers
Today’s Speakers Chris Loeffler Jade Leung CHIEF EXECUTIVE OFFICER CHIEF FINANCIAL OFFICER Chris Loeffler has served as the CEO and Chairman of Jade Leung is Caliber’s CFO and corporate secretary. As Caliber’s Board of Directors since its inception. As CEO, Chris CFO, Jade oversees all aspects of ac
Slide 4: CEO Commentary
CEO Commentary THE WEALTH DEVELOPMENT COMPANY 4
Slide 5: Why Invest in Caliber (Nasdaq: CWD)?
Why Invest in Caliber (Nasdaq: CWD)? 1. 15+-year history of growth across market cycles with $2.9 billion pool of assets under management and under development 2. Demonstrated track record of delivering unlevered annualized gross internal rate of return (IRR) of 19% on investments sold 3. Large and
Slide 6: Caliber… In Three Numbers
Caliber… In Three Numbers $2.9 15yrs Billion* 19% IRR *AUD & AUM THE WEALTH DEVELOPMENT COMPANY 6
Slide 7: Publicly Traded Parent Operates Investment Funds
Publicly Traded Parent Operates Investment Funds Caliber Nasdaq: CWD RE Fund 1 RE Fund 2 Hotel UPREIT THE WEALTH DEVELOPMENT COMPANY 7
Slide 8: We Invest in Real Estate Where Most Others… Don't
We Invest in Real Estate Where Most Others… Don’t HOSPITALITY/HOTEL MULTI-FAMILY HOUSING BEHAVIORAL HEALTH HOSPITAL OPPORTUNITY ZONE ASSETS 8
Slide 9: The Best Opportunities are in the Middle-Market
The Best Opportunities are in the Middle-Market Middle-Market Assets Middle Market Geographies • $5 to $50 million per project • Demonstrated Population & Job Growth • Large opportunity set • Underserved in terms of financing • Highly-fragmented market options • Less competition • Opportunity Zone t
Slide 10: We Solve Our Clients' Financial Needs
We Solve Our Clients’ Financial Needs Clients who invest in Caliber’s Funds seek three primary outcomes: Desired Outcome Caliber Product Income Lending, CORE Plus, Value Add Distressed and Special Situations, Growth Adaptive Re-Use & Development Opportunity Zone Funds, 1031 Tax Planning/Reduction In
Slide 11: Our Market Is Growing Dramatically
Our Market Is Growing Dramatically $24.5 Trillion in Global Alternative AUM Forecasted by 2028 30 Assets Under Management ($trillion) CAGR: 10.3% 24.5 25 20 16.3 15 10.1 10 5 0 2019 2023* 2028* Source: Preqin Future of Alternatives 2028 report, October 2023 *Forecast THE WEALTH DEVELOPMENT COMPANY 1
Slide 12: We Have Multiple Revenue Streams
We Have Multiple Revenue Streams Asset Management Revenue Performance Allocations Note: asset services performed in-house at market rates. THE WEALTH DEVELOPMENT COMPANY 12
Slide 13: Increasing The Money We Manage/Invest Is A Core Growth Driver
Increasing The Money We Manage/Invest Is A Core Growth Driver Caliber Caliber Caliber Private Client Wholesale Institutional Sales Registered Investment Advisors High Net-Worth & Family Offices Boutique Institutions Investors Independent Broker-Dealers THE WEALTH DEVELOPMENT COMPANY 13
Slide 14: Caliber Hospitality Trust – Another Path To Revenue Growth
Caliber Hospitality Trust – Another Path To Revenue Growth Using the Caliber infrastructure to launch public investment products THE WEALTH DEVELOPMENT COMPANY 14
Slide 15: Consistent Growth – A Model We've Succeeded With For Years
Consistent Growth – A Model We’ve Succeeded With For 15 Years Grow Raise Revenue Capital Grow Assets Under Management THE WEALTH DEVELOPMENT COMPANY 15
Slide 16: Caliber Earns More Per Dollar in AUM
Caliber Earns More Per Dollar in AUM Caliber has optimized in-house and third-party services to maximize control and profitability Caliber’s In-House Services Model: Traditional Asset Managers: Increased Control & Multiple Revenue Streams Lower Control & Fewer Revenue Opportunities Fund Management F
Slide 17: 2026 Financial Targets
2026 Financial Targets* Cumulative Assets Under Fundraising of Management $750M (AUM) of $3B Annualized Platform Revenue of $50M * End of 2026 THE WEALTH DEVELOPMENT COMPANY 17
Slide 18: Path Forward for Enterprise Value Growth
Path Forward for Enterprise Value Growth Fundraising Product Innovation Acquisitions THE WEALTH DEVELOPMENT COMPANY 18
Slide 19: Our Interests Are Aligned – Insiders Own ~50% Of Our Stock
Our Interests Are Aligned – Insiders Own ~50% Of Our Stock Chris Loeffler Jennifer Schrader Jade Leung Roy Bade CHIEF EXECUTIVE OFFICER PRESIDENT CHIEF FINANCIAL OFFICER CHIEF DEVELOPMENT OFFICER The people who built Caliber, still manage Caliber Ignacio Martinez George Pace Yaron Ashkenazi John Har
Slide 20: Independent Board Committed to Strong Corporate Governance
Independent Board Committed to Strong Corporate Governance Our Directors Public Company, Asset Management, Real Estate and Public Company Experience • Chris Loeffler – Chief Executive Officer & Co-Founder • Jennifer Schrader – President & Co-Founder • Dan Hansen – Lead Independent Director • William
Slide 21: 2Q 2024 Financial Highlights
2Q 2024 Financial Highlights THE WEALTH DEVELOPMENT COMPANY 21
Slide 22: 2nd Quarter – Summary Highlights
2nd Quarter – Summary Highlights • Total revenues of $8.2 million Financial • Platform revenue of $4.2 million, primarily driven by an increase in asset management revenue Measures • Net loss attributable to Caliber of $4.7 million, or $0.22 per diluted share • Caliber Adjusted EBITDA loss of $2.5 m
Slide 23: 2nd Quarter Summary Results
2nd Quarter Summary Results Total Platform Revenue Total Consolidated Revenue* $10,000 $35,000 $30,000 $8,000 $25,000 $20,445 $6,000 (000s) (000s) $20,000 $4,212 $4,000 $3,372 $15,000 $10,000 $8,179 $2,000 $5,000 $- $- Q2'23 Q2'24 Q2'23 Q2'24 Asset Mgmt Fees Performance Allocations *As previously co
Slide 24: 2nd Quarter – Historical Summary Results
2nd Quarter – Historical Summary Results Total Platform Revenue Managed Capital $10,000 $700 $8,399 $8,000 $7,187 $600 $6,350 $470 $500 $438 $454 (000,000s) $6,000 $5,422 $383 $392 $402 $412 (000s) $4,726 $400 $349 $4,212 $4,000 $3,373 $3,728 $300 $2,000 $200 $100 $- 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q
Slide 25: 2Q 2024 Financial Review
2Q 2024 Financial Review THE WEALTH DEVELOPMENT COMPANY 25
Slide 26: GAAP Income Statement
GAAP Income Statement CALIBERCOS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA) THE WEALTH DEVELOPMENT COMPANY 26
Slide 27: GAAP Income Statement (cont.)
GAAP Income Statement (cont.) CALIBERCOS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS (AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA) Other income, net 318 546 Interest income 157 96 Interest expense (1,315) (1,261) Net loss before income taxes (5,316) (11,580) Benefit from in
Slide 28: GAAP Balance Sheet
GAAP Balance Sheet CALIBERCOS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (AMOUNTS IN THOUSANDS, EXCEPT FOR SHARE AND PER SHARE DATA) THE WEALTH DEVELOPMENT COMPANY 28
Slide 29: GAAP Balance Sheet (cont.)
GAAP Balance Sheet (cont.) THE WEALTH DEVELOPMENT COMPANY 29
Slide 30: GAAP Balance Sheet (cont.)
GAAP Balance Sheet (cont.) CALIBERCOS INC. AND SUBSIDIARIES CONDENSED CONSOLIDATED BALANCE SHEETS (AMOUNTS IN THOUSANDS, EXCEPT FOR SHARE AND PER SHARE DATA) Commitments and Contingencies Common stock Class A, $0.001 par value; 100,000,000 shares authorized, 14,628,638 and 13,872,671 shares issued a
Slide 31: Contacts
Contacts: Chris Loeffler, CEO Chris.Loeffler@CaliberCo.com Lisa Fortuna, Investor Relations, Financial Profiles lfortuna@finprofiles.com CaliberCos NASDAQ: CWD https://www.caliberco.com/
Slide 32: Appendix
Appendix THE WEALTH DEVELOPMENT COMPANY 32
Slide 33: NON-GAAP Measures
NON-GAAP Measures Non-GAAP Measures We use non-GAAP financial measures to evaluate operating performance, identify trends, formulate financial projections, make strategic decisions, and for other discretionary purposes. We believe that these measures enhance the understanding of ongoing operations a
Slide 34: NON-GAAP Measures
NON-GAAP Measures Consolidated Adjusted EBITDA Consolidated Adjusted EBITDA represents the Company’s and the consolidated funds’ earnings before net interest expense, income taxes, depreciation and amortization, further adjusted to exclude stock-based compensation, transaction fees, expenses and oth
Slide 35: NON-GAAP Reconciliation
NON-GAAP Reconciliation THE WEALTH DEVELOPMENT COMPANY 35
Slide 36: NON-GAAP Reconciliation
NON-GAAP Reconciliation ASSET MANAGEMENT PLATFORM SEGMENT(1) (AMOUNTS IN THOUSANDS) (UNAUDITED) THE WEALTH DEVELOPMENT COMPANY 36
Slide 37: NON-GAAP Reconciliation
NON-GAAP Reconciliation ASSET MANAGEMENT PLATFORM SEGMENT(1) (AMOUNTS IN THOUSANDS) (UNAUDITED) THE WEALTH DEVELOPMENT COMPANY 37
Slide 38: NON-GAAP Reconciliation
NON-GAAP Reconciliation THE WEALTH DEVELOPMENT COMPANY 38
Slide 39: NON-GAAP Reconciliation
NON-GAAP Reconciliation THE WEALTH DEVELOPMENT COMPANY 39