CaliberCos reaffirms 2026 revenue guidance after Q2 update
CaliberCos said second-quarter results were in line with its 2026 plan, platform revenue fell about 10% year over year, platform adjusted EBITDA turned positive, and it reaffirmed full-year 2026 revenue guidance of $18 million to $22 million.
On Thursday, CaliberCos (NASDAQ: CWD ) discussed second-quarter financial results during its earnings call.
The full transcript is provided below.
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View the webcast at Summary CaliberCos' Q2 2026 results were aligned with their annual plan despite a 10% year-over-year decline in platform revenue, with platform adjusted EBITDA turning positive, showing a $0.4 million improvement.
The company announced its first fund tokenization, enabling investments to be held as digital tokens, and is working on a second tokenization, positioning itself as an early leader in real estate fund tokenization.
Managed capital at the end of Q2 was $495 million, with increases driven by investments in residential and commercial properties, and a growth in their wholesale channel's advisor production.
CaliberCos made significant progress in its real estate projects, including breaking ground on Hyatt Studios in Steamboat Springs and advancing the Pure Pickleball and Padel project towards construction.
The company reaffirmed its 2026 revenue guidance of $18 million to $22 million, expecting profitability driven by project-level financings and continued capital formation.
Full Transcript Roy, Operator Ladies and gentlemen, thank you for standing by.
This is Roy and I will be your conference operator today.
At this time I would like to welcome everyone to the CaliberCos Q2 2026 earnings conference call.
All lines have been placed on mute to prevent any background noise.
After the speaker's remarks, there will be a question and answer session.
If you would like to ask a question during this time, please press STAR followed by the number one on your telephone keypad.
If you'd like to withdraw a question, please press STAR one again.
I would now like to turn the conference over to Ilya Grozovsky, Vice President of Investor Relations and Corporate Development.
Please go ahead.
Ilya Grozovsky, Vice President of Investor Relations and Corporate Development Good afternoon everyone.
Welcome to CaliberCos' second quarter 2026 financial results conference call.
With me today are Chris Loeffler, Chief Executive Officer and Co-Founder, and Michael Rosales, Acting Chief Financial Officer of CaliberCos.
Please note that we have a quarterly earnings presentation which will serve as a supplement to today's prepared remarks.
You can access the presentation in the Investor Relations section of our website at After management's commentary, we will open the call for questions.
As a reminder, the information discussed today may include forward-looking statements that involve risks and uncertainties.
Words like believe, expect, and anticipate refer to our best estimates as of this call and there can be no assurances that these will actually take place, so our actual future results could differ significantly from these statements.
Further information on the company's risk factors is contained in the company's quarterly and annual reports filed with the Securities and Exchange Commission.
It is now my pleasure to turn the call over to Chris.
Roy, Operator Please go ahead.
Chris Loeffler, Chief Executive Officer and Co-Founder Thank you, Ilya.
Good afternoon everyone.
Today my comments will address an update to our strategic expansion into digital assets and blockchain, a discussion of CaliberCos' financial position and our private equity real estate platform and related activity.
Before walking through these topics, I'll briefly frame the quarter.
Our second quarter results were in line with our 2026 plan while platform revenue declined approximately 10% year over year driven by the timing of revenue generating activities.
Between the periods our platform adjusted EBITDA turned positive, an improvement of approximately 0.4 million, and we executed across both sides of the revenue plan we laid out at year end, generating new capital formation and project level financings.
We are reaffirming our full year 2026 guidance today and Michael will walk you through the financial details later in the call.
I'll start my update with our digital asset strategy.