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Side-by-side financial comparison of CaliberCos Inc. (CWD) and REED'S, INC. (REED). Click either name above to swap in a different company.
REED'S, INC. is the larger business by last-quarter revenue ($7.5M vs $4.1M, roughly 1.8× CaliberCos Inc.). REED'S, INC. runs the higher net margin — -50.5% vs -188.3%, a 137.8% gap on every dollar of revenue. On growth, REED'S, INC. posted the faster year-over-year revenue change (-23.1% vs -52.5%). Over the past eight quarters, REED'S, INC.'s revenue compounded faster (-11.7% 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.
Waddell & Reed Financial, Inc. was an American asset management and financial planning company founded in 1937 in Kansas City, Missouri. It was a publicly traded company from 1998 to 2021, and briefly had its headquarters in Overland Park, Kansas, and was planning a move back to Downtown Kansas City before the company was sold. It operated asset management and distribution subsidiaries, including Ivy Investment Management Company and Waddell & Reed Investment Management Company.
CWD vs REED — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1M | $7.5M |
| Net Profit | $-7.7M | $-3.8M |
| Gross Margin | — | 20.4% |
| Operating Margin | -196.6% | -46.9% |
| Net Margin | -188.3% | -50.5% |
| Revenue YoY | -52.5% | -23.1% |
| Net Profit YoY | 32.2% | 8.2% |
| EPS (diluted) | $1.95 | $-1.26 |
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 | $7.5M | ||
| Q3 25 | $3.6M | $7.0M | ||
| Q2 25 | $5.1M | $9.5M | ||
| Q1 25 | $7.3M | $10.0M | ||
| Q4 24 | $8.7M | $9.7M | ||
| Q3 24 | $11.3M | $6.8M | ||
| Q2 24 | $8.2M | $11.9M | ||
| Q1 24 | $23.0M | $9.6M |
| Q4 25 | $-7.7M | $-3.8M | ||
| Q3 25 | $-4.4M | $-4.0M | ||
| Q2 25 | $-5.3M | $-6.0M | ||
| Q1 25 | $-4.4M | $-2.0M | ||
| Q4 24 | $-11.4M | $-4.1M | ||
| Q3 24 | $146.0K | $-4.2M | ||
| Q2 24 | $-4.7M | $-3.2M | ||
| Q1 24 | $-3.8M | $-1.7M |
| Q4 25 | — | 20.4% | ||
| Q3 25 | — | 17.4% | ||
| Q2 25 | — | 8.5% | ||
| Q1 25 | — | 33.9% | ||
| Q4 24 | — | 30.0% | ||
| Q3 24 | — | 18.0% | ||
| Q2 24 | — | 32.3% | ||
| Q1 24 | — | 35.6% |
| Q4 25 | -196.6% | -46.9% | ||
| Q3 25 | -129.6% | -58.3% | ||
| Q2 25 | -112.4% | -60.8% | ||
| Q1 25 | -62.7% | -17.4% | ||
| Q4 24 | -236.8% | -37.6% | ||
| Q3 24 | 0.0% | -46.5% | ||
| Q2 24 | -65.0% | -5.6% | ||
| Q1 24 | -22.9% | -6.8% |
| Q4 25 | -188.3% | -50.5% | ||
| Q3 25 | -120.2% | -56.6% | ||
| Q2 25 | -104.5% | -63.5% | ||
| Q1 25 | -60.7% | -20.3% | ||
| Q4 24 | -247.6% | -42.3% | ||
| Q3 24 | 1.3% | -61.5% | ||
| Q2 24 | -57.8% | -27.1% | ||
| Q1 24 | -16.6% | -17.4% |
| Q4 25 | $1.95 | $-1.26 | ||
| Q3 25 | $-1.65 | $-0.48 | ||
| Q2 25 | $-4.15 | $-0.13 | ||
| Q1 25 | $-3.85 | $-0.04 | ||
| Q4 24 | $-10.15 | $-3.73 | ||
| Q3 24 | $0.12 | $-4.91 | ||
| Q2 24 | $-4.34 | $-0.77 | ||
| Q1 24 | $-3.53 | $-0.40 |
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 | — |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3M | $9.2M |
| Total Assets | $135.4M | $23.3M |
| 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 | — | ||
| Q3 24 | $1.6M | — | ||
| Q2 24 | $1.8M | — | ||
| Q1 24 | $2.1M | — |
| Q4 25 | $1.3M | $9.2M | ||
| Q3 25 | $4.2M | $2.8M | ||
| Q2 25 | $-19.9M | $1.7M | ||
| Q1 25 | $-15.8M | $4.7M | ||
| Q4 24 | $-12.6M | $6.6M | ||
| Q3 24 | $-3.8M | $-22.0M | ||
| Q2 24 | $-4.7M | $-23.8M | ||
| Q1 24 | $-745.0K | $-20.7M |
| Q4 25 | $135.4M | $23.3M | ||
| Q3 25 | $82.6M | $19.9M | ||
| Q2 25 | $59.3M | $23.7M | ||
| Q1 25 | $103.6M | $24.5M | ||
| Q4 24 | $105.5M | $25.1M | ||
| Q3 24 | $158.6M | $15.0M | ||
| Q2 24 | $195.2M | $18.7M | ||
| Q1 24 | $201.5M | $19.3M |
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 | $-3.8M |
| Free Cash FlowOCF − Capex | — | $-3.9M |
| FCF MarginFCF / Revenue | — | -52.0% |
| Capex IntensityCapex / Revenue | — | 1.1% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-17.3M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-12.1M | $-3.8M | ||
| Q3 25 | $-4.6M | $-2.8M | ||
| Q2 25 | $-1.2M | $-5.0M | ||
| Q1 25 | $-1.7M | $-5.4M | ||
| Q4 24 | $555.0K | $-3.9M | ||
| Q3 24 | $-74.0K | $1.1M | ||
| Q2 24 | $1.4M | $-912.0K | ||
| Q1 24 | $-1.5M | $-2.4M |
| Q4 25 | — | $-3.9M | ||
| Q3 25 | — | $-2.9M | ||
| Q2 25 | — | $-5.1M | ||
| Q1 25 | — | $-5.4M | ||
| Q4 24 | — | $-4.0M | ||
| Q3 24 | — | $1.0M | ||
| Q2 24 | — | $-924.0K | ||
| Q1 24 | — | $-2.4M |
| Q4 25 | — | -52.0% | ||
| Q3 25 | — | -41.5% | ||
| Q2 25 | — | -53.2% | ||
| Q1 25 | — | -54.2% | ||
| Q4 24 | — | -40.8% | ||
| Q3 24 | — | 15.3% | ||
| Q2 24 | — | -7.8% | ||
| Q1 24 | — | -25.1% |
| Q4 25 | — | 1.1% | ||
| Q3 25 | — | 1.4% | ||
| Q2 25 | — | 0.2% | ||
| Q1 25 | — | 0.7% | ||
| Q4 24 | — | 1.0% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.1% | ||
| Q1 24 | — | 0.2% |
| 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.
