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Side-by-side financial comparison of CaliberCos Inc. (CWD) and Relay Therapeutics, Inc. (RLAY). Click either name above to swap in a different company.
Relay Therapeutics, Inc. is the larger business by last-quarter revenue ($7.0M vs $4.1M, roughly 1.7× CaliberCos Inc.).
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.
Relay Therapeutics is a clinical-stage biotechnology company focused on developing precision oncology therapies. It leverages advanced computational modeling of protein dynamics, paired with cutting-edge experimental biology, to design targeted medicines for previously intractable cancer types, serving global oncology care markets and patient populations.
CWD vs RLAY — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1M | $7.0M |
| Net Profit | $-7.7M | — |
| Gross Margin | — | — |
| Operating Margin | -196.6% | — |
| Net Margin | -188.3% | — |
| Revenue YoY | -52.5% | — |
| Net Profit YoY | 32.2% | — |
| 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 | $7.0M | ||
| Q3 25 | $3.6M | $0 | ||
| Q2 25 | $5.1M | — | ||
| Q1 25 | $7.3M | $7.7M | ||
| Q4 24 | $8.7M | $0 | ||
| Q3 24 | $11.3M | $0 | ||
| Q2 24 | $8.2M | $0 | ||
| Q1 24 | $23.0M | $10.0M |
| Q4 25 | $-7.7M | — | ||
| Q3 25 | $-4.4M | $-74.1M | ||
| Q2 25 | $-5.3M | — | ||
| Q1 25 | $-4.4M | $-77.1M | ||
| Q4 24 | $-11.4M | — | ||
| Q3 24 | $146.0K | $-88.1M | ||
| Q2 24 | $-4.7M | $-92.2M | ||
| Q1 24 | $-3.8M | $-81.4M |
| Q4 25 | -196.6% | — | ||
| Q3 25 | -129.6% | — | ||
| Q2 25 | -112.4% | — | ||
| Q1 25 | -62.7% | -1105.2% | ||
| Q4 24 | -236.8% | — | ||
| Q3 24 | 0.0% | — | ||
| Q2 24 | -65.0% | — | ||
| Q1 24 | -22.9% | -903.0% |
| Q4 25 | -188.3% | — | ||
| Q3 25 | -120.2% | — | ||
| Q2 25 | -104.5% | — | ||
| Q1 25 | -60.7% | -1003.6% | ||
| Q4 24 | -247.6% | — | ||
| Q3 24 | 1.3% | — | ||
| Q2 24 | -57.8% | — | ||
| Q1 24 | -16.6% | -813.3% |
| Q4 25 | $1.95 | — | ||
| Q3 25 | $-1.65 | $-0.43 | ||
| Q2 25 | $-4.15 | — | ||
| Q1 25 | $-3.85 | $-0.46 | ||
| Q4 24 | $-10.15 | — | ||
| Q3 24 | $0.12 | $-0.63 | ||
| Q2 24 | $-4.34 | $-0.69 | ||
| Q1 24 | $-3.53 | $-0.62 |
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 | $84.0M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3M | $567.1M |
| Total Assets | $135.4M | $621.3M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.9M | $84.0M | ||
| Q3 25 | $10.9M | $91.6M | ||
| Q2 25 | $683.0K | — | ||
| Q1 25 | $1.6M | $93.5M | ||
| Q4 24 | $2.3M | $124.3M | ||
| Q3 24 | $1.6M | $152.4M | ||
| Q2 24 | $1.8M | $134.1M | ||
| Q1 24 | $2.1M | $152.9M |
| Q4 25 | $1.3M | $567.1M | ||
| Q3 25 | $4.2M | $607.7M | ||
| Q2 25 | $-19.9M | — | ||
| Q1 25 | $-15.8M | $721.1M | ||
| Q4 24 | $-12.6M | $777.8M | ||
| Q3 24 | $-3.8M | $838.9M | ||
| Q2 24 | $-4.7M | $681.7M | ||
| Q1 24 | $-745.0K | $745.8M |
| Q4 25 | $135.4M | $621.3M | ||
| Q3 25 | $82.6M | $670.0M | ||
| Q2 25 | $59.3M | — | ||
| Q1 25 | $103.6M | $799.4M | ||
| Q4 24 | $105.5M | $871.3M | ||
| Q3 24 | $158.6M | $930.1M | ||
| Q2 24 | $195.2M | $772.5M | ||
| Q1 24 | $201.5M | $841.4M |
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 | $-235.5M |
| Free Cash FlowOCF − Capex | — | $-235.9M |
| FCF MarginFCF / Revenue | — | -3370.0% |
| Capex IntensityCapex / Revenue | — | 5.9% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-622.7M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-12.1M | $-235.5M | ||
| Q3 25 | $-4.6M | $-62.1M | ||
| Q2 25 | $-1.2M | — | ||
| Q1 25 | $-1.7M | $-73.2M | ||
| Q4 24 | $555.0K | $-249.1M | ||
| Q3 24 | $-74.0K | $-75.1M | ||
| Q2 24 | $1.4M | $-65.8M | ||
| Q1 24 | $-1.5M | $-50.3M |
| Q4 25 | — | $-235.9M | ||
| Q3 25 | — | $-62.1M | ||
| Q2 25 | — | — | ||
| Q1 25 | — | $-73.6M | ||
| Q4 24 | — | $-251.1M | ||
| Q3 24 | — | $-75.3M | ||
| Q2 24 | — | $-65.8M | ||
| Q1 24 | — | $-52.1M |
| Q4 25 | — | -3370.0% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | -958.4% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -520.7% |
| Q4 25 | — | 5.9% | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | 5.0% | ||
| Q4 24 | — | — | ||
| Q3 24 | — | — | ||
| Q2 24 | — | — | ||
| Q1 24 | — | 17.8% |
| 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.
