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Side-by-side financial comparison of CaliberCos Inc. (CWD) and Tonix Pharmaceuticals Holding Corp. (TNXP). Click either name above to swap in a different company.
Tonix Pharmaceuticals Holding Corp. is the larger business by last-quarter revenue ($5.4M vs $4.1M, roughly 1.3× CaliberCos Inc.). CaliberCos Inc. runs the higher net margin — -188.3% vs -870.3%, a 682.0% gap on every dollar of revenue. On growth, Tonix Pharmaceuticals Holding Corp. posted the faster year-over-year revenue change (108.8% vs -52.5%). Over the past eight quarters, Tonix Pharmaceuticals Holding Corp.'s revenue compounded faster (47.4% 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.
Tonix Pharmaceuticals is a pharmaceutical company based in Chatham, New Jersey that focuses on repurposed drugs for central nervous system conditions and as of 2020 was also pursuing a vaccine for COVID-19 and a biodefense project.
CWD vs TNXP — Head-to-Head
Income Statement — Q4 FY2025 vs Q4 FY2025
| Metric | | |
|---|---|---|
| Revenue | $4.1M | $5.4M |
| Net Profit | $-7.7M | $-46.9M |
| Gross Margin | — | 80.4% |
| Operating Margin | -196.6% | -895.8% |
| Net Margin | -188.3% | -870.3% |
| Revenue YoY | -52.5% | 108.8% |
| Net Profit YoY | 32.2% | -112.2% |
| EPS (diluted) | $1.95 | $-4.28 |
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 | $5.4M | ||
| Q3 25 | $3.6M | $3.3M | ||
| Q2 25 | $5.1M | $2.0M | ||
| Q1 25 | $7.3M | $2.4M | ||
| Q4 24 | $8.7M | $2.6M | ||
| Q3 24 | $11.3M | $2.8M | ||
| Q2 24 | $8.2M | $2.2M | ||
| Q1 24 | $23.0M | $2.5M |
| Q4 25 | $-7.7M | $-46.9M | ||
| Q3 25 | $-4.4M | $-32.0M | ||
| Q2 25 | $-5.3M | $-28.3M | ||
| Q1 25 | $-4.4M | $-16.8M | ||
| Q4 24 | $-11.4M | $-22.1M | ||
| Q3 24 | $146.0K | $-14.2M | ||
| Q2 24 | $-4.7M | $-78.8M | ||
| Q1 24 | $-3.8M | $-14.9M |
| Q4 25 | — | 80.4% | ||
| Q3 25 | — | 58.4% | ||
| Q2 25 | — | -63.8% | ||
| Q1 25 | — | 61.2% | ||
| Q4 24 | — | 54.2% | ||
| Q3 24 | — | 44.9% | ||
| Q2 24 | — | -52.5% | ||
| Q1 24 | — | 33.1% |
| Q4 25 | -196.6% | -895.8% | ||
| Q3 25 | -129.6% | -1005.1% | ||
| Q2 25 | -112.4% | -1416.2% | ||
| Q1 25 | -62.7% | -660.9% | ||
| Q4 24 | -236.8% | -870.6% | ||
| Q3 24 | 0.0% | -551.2% | ||
| Q2 24 | -65.0% | -3501.6% | ||
| Q1 24 | -22.9% | -860.2% |
| Q4 25 | -188.3% | -870.3% | ||
| Q3 25 | -120.2% | -972.9% | ||
| Q2 25 | -104.5% | -1415.0% | ||
| Q1 25 | -60.7% | -692.8% | ||
| Q4 24 | -247.6% | -856.2% | ||
| Q3 24 | 1.3% | -503.6% | ||
| Q2 24 | -57.8% | -3567.8% | ||
| Q1 24 | -16.6% | -601.9% |
| Q4 25 | $1.95 | $-4.28 | ||
| Q3 25 | $-1.65 | $-3.59 | ||
| Q2 25 | $-4.15 | $-3.86 | ||
| Q1 25 | $-3.85 | $-2.84 | ||
| Q4 24 | $-10.15 | $2302.65 | ||
| Q3 24 | $0.12 | $-22.68 | ||
| Q2 24 | $-4.34 | $-1920.85 | ||
| Q1 24 | $-3.53 | $-535.72 |
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 | $207.6M |
| Total DebtLower is stronger | — | — |
| Stockholders' EquityBook value | $1.3M | $245.2M |
| Total Assets | $135.4M | $277.2M |
| Debt / EquityLower = less leverage | — | — |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $2.9M | $207.6M | ||
| Q3 25 | $10.9M | $190.1M | ||
| Q2 25 | $683.0K | $125.3M | ||
| Q1 25 | $1.6M | $131.7M | ||
| Q4 24 | $2.3M | $98.8M | ||
| Q3 24 | $1.6M | $28.2M | ||
| Q2 24 | $1.8M | $4.2M | ||
| Q1 24 | $2.1M | $7.0M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | $8.7M | ||
| Q3 24 | — | $9.4M | ||
| Q2 24 | — | $10.1M | ||
| Q1 24 | — | $10.8M |
| Q4 25 | $1.3M | $245.2M | ||
| Q3 25 | $4.2M | $231.1M | ||
| Q2 25 | $-19.9M | $168.0M | ||
| Q1 25 | $-15.8M | $180.4M | ||
| Q4 24 | $-12.6M | $139.6M | ||
| Q3 24 | $-3.8M | $74.2M | ||
| Q2 24 | $-4.7M | $42.1M | ||
| Q1 24 | $-745.0K | $108.1M |
| Q4 25 | $135.4M | $277.2M | ||
| Q3 25 | $82.6M | $252.4M | ||
| Q2 25 | $59.3M | $187.4M | ||
| Q1 25 | $103.6M | $192.9M | ||
| Q4 24 | $105.5M | $162.9M | ||
| Q3 24 | $158.6M | $95.0M | ||
| Q2 24 | $195.2M | $70.3M | ||
| Q1 24 | $201.5M | $135.3M |
| Q4 25 | — | — | ||
| Q3 25 | — | — | ||
| Q2 25 | — | — | ||
| Q1 25 | — | — | ||
| Q4 24 | — | 0.06× | ||
| Q3 24 | — | 0.13× | ||
| Q2 24 | — | 0.24× | ||
| Q1 24 | — | 0.10× |
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 | $-39.6M |
| Free Cash FlowOCF − Capex | — | $-41.5M |
| FCF MarginFCF / Revenue | — | -770.4% |
| Capex IntensityCapex / Revenue | — | 34.8% |
| Cash ConversionOCF / Net Profit | — | — |
| TTM Free Cash FlowTrailing 4 quarters | — | $-103.2M |
8-quarter trend — quarters aligned by calendar period.
| Q4 25 | $-12.1M | $-39.6M | ||
| Q3 25 | $-4.6M | $-28.8M | ||
| Q2 25 | $-1.2M | $-14.8M | ||
| Q1 25 | $-1.7M | $-16.6M | ||
| Q4 24 | $555.0K | $-14.6M | ||
| Q3 24 | $-74.0K | $-18.8M | ||
| Q2 24 | $1.4M | $-9.9M | ||
| Q1 24 | $-1.5M | $-17.6M |
| Q4 25 | — | $-41.5M | ||
| Q3 25 | — | $-29.7M | ||
| Q2 25 | — | $-15.4M | ||
| Q1 25 | — | $-16.6M | ||
| Q4 24 | — | $-14.6M | ||
| Q3 24 | — | $-18.8M | ||
| Q2 24 | — | — | ||
| Q1 24 | — | $-17.7M |
| Q4 25 | — | -770.4% | ||
| Q3 25 | — | -904.1% | ||
| Q2 25 | — | -768.8% | ||
| Q1 25 | — | -682.8% | ||
| Q4 24 | — | -566.7% | ||
| Q3 24 | — | -666.5% | ||
| Q2 24 | — | — | ||
| Q1 24 | — | -712.4% |
| Q4 25 | — | 34.8% | ||
| Q3 25 | — | 29.2% | ||
| Q2 25 | — | 26.4% | ||
| Q1 25 | — | 0.2% | ||
| Q4 24 | — | 0.1% | ||
| Q3 24 | — | 0.3% | ||
| Q2 24 | — | 0.0% | ||
| Q1 24 | — | 4.4% |
| 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.
TNXP
| Zembrace Symtouch | $3.1M | 58% |
| Other | $2.3M | 42% |
