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Side-by-side financial comparison of CG Oncology, Inc. (CGON) and CaliberCos Inc. (CWD). Click either name above to swap in a different company.
CaliberCos Inc. is the larger business by last-quarter revenue ($4.1M vs $2.3M, roughly 1.8× CG Oncology, Inc.). CaliberCos Inc. runs the higher net margin — -188.3% vs -1779.0%, a 1590.7% gap on every dollar of revenue. On growth, CG Oncology, Inc. posted the faster year-over-year revenue change (409.2% vs -52.5%).
CG Oncology, Inc. is a clinical-stage biotechnology company focused on developing innovative targeted immunotherapies for urological cancers including non-muscle invasive bladder cancer. It primarily operates in the U.S. market, advancing pipeline candidates to address unmet medical needs for patients with limited treatment options.
CaliberCos Inc. is a U.S.-headquartered alternative asset management firm focused primarily on real estate investments. It offers a diverse suite of investment vehicles covering commercial, residential, and industrial real estate assets, serving institutional investors, high-net-worth individuals, and retail clients across North America. It also delivers asset management, property operation, and value-add real estate development services to support consistent long-term returns for investors.
CGON vs CWD — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $2.3M | $4.1M |
| Net Profit | $-41.3M | $-7.7M |
| Gross Margin | — | — |
| Operating Margin | -2097.3% | -196.6% |
| Net Margin | -1779.0% | -188.3% |
| Revenue YoY | 409.2% | -52.5% |
| Net Profit YoY | -29.9% | 32.2% |
| EPS (diluted) | $-0.52 | $1.95 |
Green = leading value per metric. Periods may differ when fiscal calendars don't align.
8-Quarter Revenue & Profit Trend
Side-by-side quarterly history. Quarters aligned by calendar period so offset fiscal years line up.
| Q4 25 | $2.3M | $4.1M | ||
| Q3 25 | $1.7M | $3.6M | ||
| Q2 25 | $0 | $5.1M | ||
| Q1 25 | — | $7.3M | ||
| Q4 24 | $456.0K | $8.7M | ||
| Q3 24 | — | $11.3M | ||
| Q2 24 | — | $8.2M | ||
| Q1 24 | $529.0K | $23.0M |
| Q4 25 | $-41.3M | $-7.7M | ||
| Q3 25 | $-43.8M | $-4.4M | ||
| Q2 25 | $-41.4M | $-5.3M | ||
| Q1 25 | — | $-4.4M | ||
| Q4 24 | $-31.8M | $-11.4M | ||
| Q3 24 | — | $146.0K | ||
| Q2 24 | — | $-4.7M | ||
| Q1 24 | $-16.9M | $-3.8M |
| Q4 25 | -2097.3% | -196.6% | ||
| Q3 25 | -3069.0% | -129.6% | ||
| Q2 25 | — | -112.4% | ||
| Q1 25 | — | -62.7% | ||
| Q4 24 | -8344.1% | -236.8% | ||
| Q3 24 | — | 0.0% | ||
| Q2 24 | — | -65.0% | ||
| Q1 24 | -4247.4% | -22.9% |
| Q4 25 | -1779.0% | -188.3% | ||
| Q3 25 | -2629.5% | -120.2% | ||
| Q2 25 | — | -104.5% | ||
| Q1 25 | — | -60.7% | ||
| Q4 24 | -6973.7% | -247.6% | ||
| Q3 24 | — | 1.3% | ||
| Q2 24 | — | -57.8% | ||
| Q1 24 | -3200.8% | -16.6% |
| Q4 25 | $-0.52 | $1.95 | ||
| Q3 25 | $-0.57 | $-1.65 | ||
| Q2 25 | $-0.54 | $-4.15 | ||
| Q1 25 | — | $-3.85 | ||
| Q4 24 | $-0.47 | $-10.15 | ||
| Q3 24 | — | $0.12 | ||
| Q2 24 | — | $-4.34 | ||
| Q1 24 | $-0.36 | $-3.53 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $742.2M | $2.9M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $752.6M | $1.3M |
| Total Assets | $791.6M | $135.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $742.2M | $2.9M | ||
| Q3 25 | $680.3M | $10.9M | ||
| Q2 25 | $661.1M | $683.0K | ||
| Q1 25 | — | $1.6M | ||
| Q4 24 | $742.0M | $2.3M | ||
| Q3 24 | — | $1.6M | ||
| Q2 24 | — | $1.8M | ||
| Q1 24 | $566.5M | $2.1M |
| Q4 25 | $752.6M | $1.3M | ||
| Q3 25 | $687.6M | $4.2M | ||
| Q2 25 | $670.4M | $-19.9M | ||
| Q1 25 | — | $-15.8M | ||
| Q4 24 | $733.4M | $-12.6M | ||
| Q3 24 | — | $-3.8M | ||
| Q2 24 | — | $-4.7M | ||
| Q1 24 | $568.9M | $-745.0K |
| Q4 25 | $791.6M | $135.4M | ||
| Q3 25 | $729.9M | $82.6M | ||
| Q2 25 | $701.4M | $59.3M | ||
| Q1 25 | — | $103.6M | ||
| Q4 24 | $754.8M | $105.5M | ||
| Q3 24 | — | $158.6M | ||
| Q2 24 | — | $195.2M | ||
| Q1 24 | $579.1M | $201.5M |
Cash Flow & Capital Efficiency
How much cash each business actually produces after reinvestment. Cash flow is harder to manipulate than net income.
| Metric | | |
|---|---|---|
| Operating Cash FlowLast quarter | $-36.2M | $-12.1M |
| Free Cash FlowOCF − Capex | $-36.2M | — |
| FCF MarginFCF / Revenue | -1560.0% | — |
| Capex IntensityCapex / Revenue | 0.3% | — |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | $-124.1M | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-36.2M | $-12.1M | ||
| Q3 25 | $-38.9M | $-4.6M | ||
| Q2 25 | $-28.0M | $-1.2M | ||
| Q1 25 | — | $-1.7M | ||
| Q4 24 | $-20.7M | $555.0K | ||
| Q3 24 | — | $-74.0K | ||
| Q2 24 | — | $1.4M | ||
| Q1 24 | $-26.0M | $-1.5M |
| Q4 25 | $-36.2M | — | ||
| Q3 25 | $-39.0M | — | ||
| Q2 25 | $-28.0M | — | ||
| Q1 25 | — | — | ||
| Q4 24 | $-20.9M | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | $-26.0M | — |
| Q4 25 | -1560.0% | — | ||
| Q3 25 | -2340.4% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | -4577.0% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | -4919.5% | — |
| Q4 25 | 0.3% | — | ||
| Q3 25 | 5.8% | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | 45.8% | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | 2.3% | — |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | — | ||
| Q3 24 | — | -0.51× | ||
| Q2 24 | — | — | ||
| Q1 24 | — | — |
Financial Flow Comparison
Revenue → gross profit → operating profit → net profit for each company.
