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Side-by-side financial comparison of CaliberCos Inc. (CWD) and NovaBay Pharmaceuticals, Inc. (NBY). Click either name above to swap in a different company.
NovaBay Pharmaceuticals, Inc. is the larger business by last-quarter revenue ($4.8M vs $4.1M, roughly 1.2× CaliberCos Inc.). NovaBay Pharmaceuticals, Inc. runs the higher net margin — -25.5% vs -188.3%, a 162.8% gap on every dollar of revenue. On growth, NovaBay Pharmaceuticals, Inc. posted the faster year-over-year revenue change (126.1% vs -52.5%). Over the past eight quarters, NovaBay Pharmaceuticals, Inc.'s revenue compounded faster (42.5% CAGR vs -57.6%).
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.
NovaBay Pharmaceuticals, Inc. is an Emeryville, California based clinical-stage biopharmaceutical company, focused on products for eye care. Major products include Avenova, cleared by FDA for lid and lash cleansing as part of a regimen for Blepharitis. and NeutroPhase, used in treatment of Necrotizing Fasciitis
CWD vs NBY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2024
| Metric | | |
|---|---|---|
| Revenue | $4.1M | $4.8M |
| Net Profit | $-7.7M | $-1.2M |
| Gross Margin | — | 65.2% |
| Operating Margin | -196.6% | -37.2% |
| Net Margin | -188.3% | -25.5% |
| Revenue YoY | -52.5% | 126.1% |
| Net Profit YoY | 32.2% | 70.5% |
| EPS (diluted) | $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 | $4.1M | — | ||
| Q3 25 | $3.6M | — | ||
| Q2 25 | $5.1M | — | ||
| Q1 25 | $7.3M | — | ||
| Q4 24 | $8.7M | $4.8M | ||
| Q3 24 | $11.3M | $0 | ||
| Q2 24 | $8.2M | $2.4M | ||
| Q1 24 | $23.0M | $2.6M |
| Q4 25 | $-7.7M | — | ||
| Q3 25 | $-4.4M | — | ||
| Q2 25 | $-5.3M | — | ||
| Q1 25 | $-4.4M | — | ||
| Q4 24 | $-11.4M | $-1.2M | ||
| Q3 24 | $146.0K | $-1.2M | ||
| Q2 24 | $-4.7M | $-1.6M | ||
| Q1 24 | $-3.8M | $-3.2M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 65.2% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 66.3% | ||
| Q1 24 | — | 68.2% |
| Q4 25 | -196.6% | — | ||
| Q3 25 | -129.6% | — | ||
| Q2 25 | -112.4% | — | ||
| Q1 25 | -62.7% | — | ||
| Q4 24 | -236.8% | -37.2% | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | -65.0% | -67.4% | ||
| Q1 24 | -22.9% | -87.1% |
| Q4 25 | -188.3% | — | ||
| Q3 25 | -120.2% | — | ||
| Q2 25 | -104.5% | — | ||
| Q1 25 | -60.7% | — | ||
| Q4 24 | -247.6% | -25.5% | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | -57.8% | -66.0% | ||
| Q1 24 | -16.6% | -122.2% |
| Q4 25 | $1.95 | — | ||
| Q3 25 | $-1.65 | — | ||
| Q2 25 | $-4.15 | — | ||
| Q1 25 | $-3.85 | — | ||
| Q4 24 | $-10.15 | — | ||
| Q3 24 | $0.12 | $-1.92 | ||
| Q2 24 | $-4.34 | $-1.37 | ||
| Q1 24 | $-3.53 | $-29.95 |
Balance Sheet & Financial Strength
Snapshot of each company's liquidity, leverage and book value from the latest quarter.
| Metric | | |
|---|---|---|
| Cash + ST InvestmentsLiquidity on hand | $2.9M | $430.0K |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3M | $-129.0K |
| Total Assets | $135.4M | $3.4M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.9M | — | ||
| Q3 25 | $10.9M | — | ||
| Q2 25 | $683.0K | — | ||
| Q1 25 | $1.6M | — | ||
| Q4 24 | $2.3M | $430.0K | ||
| Q3 24 | $1.6M | $776.0K | ||
| Q2 24 | $1.8M | $751.0K | ||
| Q1 24 | $2.1M | $1.8M |
| Q4 25 | $1.3M | — | ||
| Q3 25 | $4.2M | — | ||
| Q2 25 | $-19.9M | — | ||
| Q1 25 | $-15.8M | — | ||
| Q4 24 | $-12.6M | $-129.0K | ||
| Q3 24 | $-3.8M | $1.1M | ||
| Q2 24 | $-4.7M | $-617.0K | ||
| Q1 24 | $-745.0K | $160.0K |
| Q4 25 | $135.4M | — | ||
| Q3 25 | $82.6M | — | ||
| Q2 25 | $59.3M | — | ||
| Q1 25 | $103.6M | — | ||
| Q4 24 | $105.5M | $3.4M | ||
| Q3 24 | $158.6M | $3.9M | ||
| Q2 24 | $195.2M | $3.9M | ||
| Q1 24 | $201.5M | $5.4M |
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 | $-12.1M | $-1.7M |
| Free Cash FlowOCF − Capex | — | $-1.7M |
| FCF MarginFCF / Revenue | — | -35.4% |
| Capex IntensityCapex / Revenue | — | 0.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-12.1M | — | ||
| Q3 25 | $-4.6M | — | ||
| Q2 25 | $-1.2M | — | ||
| Q1 25 | $-1.7M | — | ||
| Q4 24 | $555.0K | $-1.7M | ||
| Q3 24 | $-74.0K | $-2.4M | ||
| Q2 24 | $1.4M | $-1.4M | ||
| Q1 24 | $-1.5M | $-2.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $-1.7M | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-2.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | -35.4% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -75.3% |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | — | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 0.1% |
| 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.
Revenue Breakdown by Segment
CWD
Segment breakdown not available.
NBY
| Other | $2.4M | 51% |
| Total Product Revenue | $2.3M | 49% |
