Calibercos Inc. · NASDAQ:CWD
Calibercos — IPO Roadshow (April 2023)
29 slides from Calibercos's IPO roadshow presentation, Apr 21, 2023
Slide 1: Wealth Development for the Middle Market
Wealth Development for the Middle Market April 2023 ©2023 Caliber
Slide 2: 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 facts . These statements
Slide 3: Caliber's Vision
Caliber’s Vision 3 T 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 We create strategic investments that aim to build generational wealth for our investors, community, and team Authenticity & Transparency | Compassion & Service | Vision & Agility Caliber’s Core Values
Slide 4: Introducing Caliber
Introducing Caliber (Nasdaq: CWD) 4 T 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 $2.9B AUM & AUD $84M Consolidated Revenue $24M+ Total Segment Revenue (1) 50% Year - over - Year Consolidated Revenue Growth 27% Asset Management Fee Growth (2) 14 - Year History of Operations Cycle - Tested Tr
Slide 5: Caliber as a Listed Company
Nasdaq: CWD • Initial Public Offering price of $5 per share • $6M total offering • Proceeds to fund strategic growth initiatives Caliber as a Listed Company 5 T 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 Auditor: Counsel: Bank: Perceived Benefits of a Public Listing to Caliber: • Increased
Slide 6: Caliber Executive Leadership & Independent Directors
Caliber Executive Leadership & Independent Directors A cohesive, established team with a history of successful execution working together 6 T 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 CHAIRMAN OF THE BOARD, CHIEF EXECUTIVE OFFICER & CO - FOUNDER Jennifer Schrader VICE - CHAI
Slide 7: Caliber AUM
Caliber AUM 7 T 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 $601 $746 $0 $100 $200 $300 $400 $500 $600 $700 $800 2021 2022 FV AUM +24% Year - over - Year ( $M) (1) Credit FV AUM represents loans made to Caliber’s investment funds by our Diversified credit fund . (2) Other FV AUM represents u
Slide 8: Understanding Alternative Investments
Understanding Alternative Investments 8 T 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 Liquid investments Illiquid investments Passive Ownership Passive Ownership Extreme market correlation/sensitivity Low market correlation/sensitivity Generally do not use leverage Use of leverage Typically
Slide 9: Caliber Fills Marketplace Gaps
Caliber Fills Marketplace Gaps 9 T 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 Accredited Investors Seek Opportunities Other than Traditional Stocks, Bonds, etc. Lack of Access to Alternatives (Deal Size too Large for Many Investors) Middle Market Opportunities Lacked Funding ($5M to $50M) C
Slide 10: Our Differentiated Vertically Integrated Business Model
Our Differentiated Vertically Integrated Business Model… Manage Assets Through Lifecycle Fund & Asset Management Revenues Generate Distributions Share in Investor Profits Performance Fee Revenue Sell or Refinance Share in Investor Profits Disposition Fees Return Capital to Investors Reinvestment Rat
Slide 11: Caliber's Vertical Integration: Increased Control & Multiple Revenue Streams
Source: Caliber’s estimates and internal research reviewing comparable business models …Drives Revenue In - House and Increases Control 11 T 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 Vertical Integration: Increased Control & Multiple Revenue Streams Traditional Asset Managers: Lo
Slide 12: Our Products Solve for Customer Needs
Our Products Solve for Customer Needs 12 T 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 is consistently innovating new investment products and structures by matching customer feedback to market conditions and potential opportunities • Opportunity Zone Funds – Growth + Tax Advantaged •
Slide 13: Growing Global Demand for Alternatives Requires Access
Growing Global Demand for Alternatives Requires Access 13 T 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 Investor Survey, August 2020 *2020 figure is annualized on data to October. 2022 - 2026 are Preqin’s forecasted figures. Source: Preqin Stay the Same 2% 16% 55% 26% Will Incr
Slide 14: Multiple Sources of Funding Growth
Multiple Sources of Funding Growth 14 T 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 has opportunities to grow its investor base through multiple channels RIAs Broker Dealers Funding Sources Family Offices Boutique Institutions Direct HNW Sales $- $50,000 $100,000 $150,000 $200,000 $2
Slide 15: Enterprise Value Growth Opportunities
Enterprise Value Growth Opportunities 15 T 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 Organic Growth Acquisitions Scaling Caliber will invest in sales and marketing to increase managed capital Caliber will pursue tuck - in acquisitions from fund sponsors facing market related disruption
Slide 16: Recent Events
Recent Events 16 T 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 17: Caliber Hospitality Trust – Scaling Example
Caliber Hospitality Trust – Scaling Example 17 T 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 • Externally advised private hospitality real estate investment trust (“CHT”). • $186M in Caliber - managed hotel assets contribu
Slide 18: Caliber BD/RIA Expansion – Organic Growth Example
Caliber BD/RIA Expansion – Organic Growth Example 18 T 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 • Skyway Capital Markets to serve as a managing broker - dealer for our funds’ primary investment products • Skyway is an independent managing broker dealer offering a comprehensive platform fo
Slide 19: Financials
Financials 19 T 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 20: Robust Topline Growth Trends
$56,033 $83,956 $- $10,000 $20,000 $30,000 $40,000 $50,000 $60,000 $70,000 $80,000 $90,000 $100,000 2021 2022 (000s) 50% YoY Consolidated Revenue Growth Robust Topline Growth Trends 20 T 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 $3,642 $5,519 $- $1,000 $2,000 $3,000
Slide 21: Strong Fee Growth Provides Recurring Revenue Stream
Strong Fee Growth Provides Recurring Revenue Stream Source: Caliber reports 4.6% 47.6% 47.8% Diversified Revenue Streams (2022 Revenue Share ) Management Fee Revenue Growing Steadily 21 T 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 Performance Fees (Carried Interest) Grow with AUM and as fun
Slide 22: Investment Highlights
Providing an underserved customer base access to large and growing market for alternative assets Applying established institutional private asset investment model to middle market Local relationships and expertise drive proprietary deal flow Cycle - tested team with deep industry experience. Track r
Slide 23: Appendix
Appendix 23 T 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 24: The Investor's Challenge / Caliber's Solution
The Investor’s Challenge Commitment to Customer Education Builds Caliber Community Caliber’s Solution 24 T 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 Stability Alternative assets, such as real estate and private debt, offer historically low correlation to stocks Volatility The stock market
Slide 25: Middle Market Geographies are Often Overlooked
Middle Market Geographies are Often Overlooked 25 T 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 Multi - Family Caliber’s real estate focus has been on $5M - $50M projects in the Greater Southwest Projects are located in business - friendly states with growing populations Local relationships
Slide 26: Unique Middle Market Strategy Drives Competitive Advantages
Unique Middle Market Strategy Drives Competitive Advantages 26 T 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 Early - stage investments Capture full life - cycle returns Vertical integration Allows control of multiple stages of investments Middle market focus Less competition = more attractiv
Slide 27: Majority of Fundraising Occurs in 2H
Majority of Fundraising Occurs in 2H 27 T 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 • 4Q typically the largest fundraising quarter of the year • On average, over 50% of fundraising occurs in 2H Source: Caliber reports (1) Data presented represents average quarterly fundraising contribution
Slide 28: Assets Under Development definition
Assets Under Development. We define development, redevelopment, construction, and entitlement projects that are underway or are in the planning stages as Assets Under Development (“AUD”). This category includes projects we are planning to build on undeveloped land. If all of these projects are broug
Slide 29: EBITDA and Adjusted EBITDA Reconciliation
EBITDA and Adjusted EBITDA Reconciliation 29 T 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 following table presents a reconciliation of net income (loss) to EBITDA and Adjusted EBITDA for periods presented (in thousands) 1. CaliberCos Net loss is presented on a basis that deconsolidates