Slide 1: 1Q 2024 Earnings Supplemental
1Q 2024 Earnings Supplemental ©2024 Caliber Building on a 15-year track record of profitable growth and success
Slide 2: Forward-Looking Statements
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 historical
Slide 3: Today's Speakers
Today’s Speakers 3T H E W E A L T H D E V E L O P M E N T C O M P A N Y Chris Loeffler CHIEF EXECUTIVE OFFICER Jade Leung CHIEF FINANCIAL OFFICER Chris Loeffler has served as the CEO and Chairman of Caliber’s Board of Directors since its inception. As CEO, Chris directs and executes global strategy,
Slide 4: CEO Commentary
CEO Commentary 4T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 5: Why Invest in Caliber
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 growing market opportunity with invest
Slide 6: Caliber… In Three Numbers
Caliber… In Three Numbers 6T H E W E A L T H D E V E L O P M E N T C O M P A N Y 15yrs 19% IRR $2.9 Billion
Slide 7: Publicly Traded Parent Operates Investment Funds
Publicly Traded Parent Operates Investment Funds 7T H E W E A L T H D E V E L O P M E N T C O M P A N Y Caliber Nasdaq: CWD RE Fund 1 RE Fund 2 Hotel UPREIT
Slide 8: We Invest in Real Estate Where Most Others Don't
8 BEHAVIORAL HEALTH HOSPITAL HOSPITALITY/HOTEL MULTI-FAMILY HOUSING OPPORTUNITY ZONE ASSETS We Invest in Real Estate Where Most Others… Don’t
Slide 9: The Best Opportunities are in the Middle-Market
9T H E W E A L T H D E V E L O P M E N T C O M P A N Y The Best Opportunities are in the Middle-Market Middle-Market Assets • $5 to $50 million per project • Large opportunity set • Highly-fragmented market • Less competition • Caliber’s in-house services model enables access Middle Market Geographi
Slide 10: We Solve Our Clients' Financial Needs
10T H E W E A L T H D E V E L O P M E N T C O M P A N Y Income Lending, CORE Plus, Value Add Growth Distressed and Special Situations, Adaptive Re-Use & Development Tax Planning/Reduction Opportunity Zone Funds, 1031 Investments We Solve Our Clients’ Financial Needs Desired Outcome Caliber Product O
Slide 11: Our Market Is Growing Dramatically
Our Market Is Growing Dramatically 11T H E W E A L T H D E V E L O P M E N T C O M P A N Y Source: Preqin Future of Alternatives 2028 report, October 2023 *Forecast 10.1 16.3 24.5 0 5 10 15 20 25 30 2019 2023* 2028* A ss e ts U n d e r M a n a g e m e n t ($ tr il li o n ) $24.5 Trillion in Global A
Slide 12: We Have Multiple Revenue Streams
Performance Allocations Asset Management Revenue We Have Multiple Revenue Streams 12T H E W E A L T H D E V E L O P M E N T C O M P A N Y Note: asset services performed in-house at market rates.
Slide 13: Increasing The Money We Manage/Invest Is A Core Growth Driver
Increasing The Money We Manage/Invest Is A Core Growth Driver 13T H E W E A L T H D E V E L O P M E N T C O M P A N Y High Net-Worth Investors Registered Investment Advisors & Independent Broker-Dealers Family Offices Boutique Institutions Caliber Private Client Sales Caliber Wholesale Caliber Insti
Slide 14: Caliber Hospitality Trust – Another Path To Revenue Growth
Caliber Hospitality Trust – Another Path To Revenue Growth 14T H E W E A L T H D E V E L O P M E N T C O M P A N Y Using the Caliber infrastructure to launch public investment products
Slide 15: Consistent Growth – A Model We've Succeeded With For Years
Consistent Growth – A Model We’ve Succeeded With For 15 Years 15T H E W E A L T H D E V E L O P M E N T C O M P A N Y Raise Capital Grow Assets Under Management Grow Revenue
Slide 16: Caliber Earns More Per Dollar in AUM
Source: Caliber’s estimates and internal research reviewing comparable business models Caliber Earns More Per Dollar in AUM 16T H E W E A L T H D E V E L O P M E N T C O M P A N Y Caliber’s In-House Services Model: Increased Control & Multiple Revenue Streams Traditional Asset Managers: Lower Contro
Slide 17: 2026 Financial Targets
2026 Financial Targets* 17T H E W E A L T H D E V E L O P M E N T C O M P A N Y Cumulative Fundraising of $750M Annualized Platform Revenue of $50M Assets Under Management (AUM) of $3B * End of 2026
Slide 18: Path Forward for Enterprise Value Growth
Path Forward for Enterprise Value Growth 18T H E W E A L T H D E V E L O P M E N T C O M P A N Y Fundraising Product Innovation Acquisitions
Slide 19: Our Interests Are Aligned – Insiders Own ~50% Of Our Stock
Our Interests Are Aligned – Insiders Own ~50% Of Our Stock 19T H E W E A L T H D E V E L O P M E N T C O M P A N Y The people who built Caliber, still manage Caliber Chris Loeffler CHIEF EXECUTIVE OFFICER Jennifer Schrader PRESIDENT Jade Leung CHIEF FINANCIAL OFFICER Roy Bade CHIEF DEVELOPMENT OFFIC
Slide 20: Independent Board Committed to Strong Corporate Governance
Independent Board Committed to Strong Corporate Governance 20T H E W E A L T H D E V E L O P M E N T C O M P A N Y • Chris Loeffler – Chief Executive Officer & Co-Founder • Jennifer Schrader – President & Co-Founder • Dan Hansen – Lead Independent Director • William J. Gerber – Director • Michael Tr
Slide 21: 1Q 2024 Financial Highlights
1Q 2024 Financial Highlights 21T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 22: 1st Quarter – Summary Highlights
1st Quarter – Summary Highlights 22T H E W E A L T H D E V E L O P M E N T C O M P A N Y • Fair value assets under management of $766.7 million • Managed capital of $453.9 million • Total revenues of $23.0 million • Platform revenue of $4.7 million • Platform asset management revenue of $4.6 million
Slide 23: 1st Quarter Summary Results
$29,522 $22,951 $- $5,000 $10,000 $15,000 $20,000 $25,000 $30,000 $35,000 Q1'23 Q1'24 (0 0 0 s) Total Consolidated Revenue 1st Quarter Summary Results 23T H E W E A L T H D E V E L O P M E N T C O M P A N Y Source: Caliber reports Net Income (Loss) (per common share) $(0.07) Q1’23 $(0.18) Q1’24 $6,3
Slide 24: 1st Quarter – Historical Summary Results
1st Quarter – Historical Summary Results 24T H E W E A L T H D E V E L O P M E N T C O M P A N Y $18,681 $19,506 $21,467 $29,522 $20,445 $17,025 $23,945 $22,951 $- $10,000 $20,000 $30,000 $40,000 2Q22 3Q22 4Q22 1Q23 2Q23 3Q23 4Q23 1Q24 (0 0 0 s) Total Consolidated Revenue $(529) $5,659 $(1,766) $1,0
Slide 25: 1Q 2024 Financial Review
1Q 2024 Financial Review 25T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 26: GAAP Income Statement
GAAP Income Statement 26T H E W E A L T H D E V E L O P M E N T C O M P A N Y CALIBERCOS INC. AND SUBSIDIARIES CONDENS ED CONSOLIDATED STATEMENTS OF OPERATIONS (AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA) Three Months Ended March 31, 2024 2023 (unaudited) Revenues Asset management revenues $ 3,170
Slide 27: GAAP Income Statement (cont.)
GAAP Income Statement (cont.) 27T H E W E A L T H D E V E L O P M E N T C O M P A N Y CALIBERCOS INC. AND SUBSIDIARIES CONDENS ED CONSOLIDATED STATEMENTS OF OPERATIONS (AMOUNTS IN THOUSANDS, EXCEPT PER SHARE DATA)
Slide 28: GAAP Balance Sheet
GAAP Balance Sheet 28T H E W E A L T H D E V E L O P M E N T C O M P A N Y CALIBERCOS INC. AND SUBSIDIARIES CONDENS ED CONSOLIDATED BALANCE SHEETS (AMOUNTS IN THOUSANDS, EXCEPT FOR SHARE AND PER SHARE DATA)
Slide 29: GAAP Balance Sheet (cont.)
GAAP Balance Sheet (cont.) 29T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 30: GAAP Balance Sheet (cont.)
GAAP Balance Sheet (cont.) 30T H E W E A L T H D E V E L O P M E N T C O M P A N Y CALIBERCOS INC. AND SUBSIDIARIES CONDENS ED 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 sha
Slide 31: CaliberCos Contacts
https://www.caliberco.com/ CaliberCos NASDAQ: CWD Contacts: Chris Loeffler, CEO Chris.Loeffler@CaliberCo.com Lisa Fortuna, Investor Relations, Financial Profiles lfortuna@finprofiles.com
Slide 32: Appendix
Appendix 32T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 33: Non-GAAP Measures
33T H E W E A L T H D E V E L O P M E N T C O M P A N Y 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
Slide 34: Consolidated Adjusted EBITDA
34T H E W E A L T H D E V E L O P M E N T C O M P A N Y 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 compensati
Slide 35: NON-GAAP Reconciliation
NON-GAAP Reconciliation 35T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 36: NON-GAAP Reconciliation
NON-GAAP Reconciliation 36T H E W E A L T H D E V E L O P M E N T C O M P A N Y ASSET MANAGEMENT PLATFORM SEGMENT(1) (AMOUNTS IN THOUSANDS) (UNAUDITED) Three Months Ended March 31, 2024 Unconsolidated (Wholly - Owned Impact of Consolidated Fund and Eliminations Consolidated Revenues Asset management
Slide 37: NON-GAAP Reconciliation
NON-GAAP Reconciliation 37T H E W E A L T H D E V E L O P M E N T C O M P A N Y ASSET MANAGEMENT PLATFORM SEGMENT(1) (AMOUNTS IN THOUSANDS) (UNAUDITED)
Slide 38: NON-GAAP Reconciliation
NON-GAAP Reconciliation 38T H E W E A L T H D E V E L O P M E N T C O M P A N Y
Slide 39: NON-GAAP Reconciliation
NON-GAAP Reconciliation 39T H E W E A L T H D E V E L O P M E N T C O M P A N Y