SCOTTSDALE, Ariz. – Arizona-based real estate investment firm, Caliber recently filed its 2019 Annual Report, which reported continued year-over-year growth in total revenue, net income and adjusted EBITDA.
“We are seeing continued improvement as our business matures and benefits from capital investments we made many years ago coming to fruition,” says company CEO Chris Loeffler.
Founded in 2009, Caliber now manages approximately $396 million in assets and, for the first time in company history, has a qualified public stock offering allowing both accredited and non-accredited investors to own stock along with the company’s founders, management and team.
“The company’s filing of our first public annual report follows the successful qualification of our public stock offering via Regulation A+,” says company CFO Jade Leung. “It is a critical step in our plans to list on a national exchange.”
The annual report reveals several key insights into the company’s trajectory:
2018 Audited Financials
- Total revenue was $70.7 million
- Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was $2.4 million
- Net loss of $3 million
2019 Audited Financials
- Total revenue was $77.9 million—a 10% increase
- Adjusted Earnings Before Interest, Taxes, Depreciation and Amortization (EBITDA) was $10 million, a 322% increase
- Net income was up $6.5 million, a 316% increase
Loeffler attributes the company’s rapid success to the team’s ability to raise capital and acquire undervalued real estate investments combined with the company’s vertically integrated business model. That is, Caliber handles everything from the acquisitions, development, construction, asset management and disposition of its assets. Investors in Caliber’s private real estate funds can reap the benefits of each project without the burden of day-to-day management.
The annual report also includes robust discussion about the effects of COVID-19 on the business and the economy. Despite setbacks in the hospitality industry, Loeffler remains optimistic.
“Our business was founded during the Great Recession, so we know how to execute in challenging environments and adapt with the times,” he says. “Difficult times are an opportunity for us to generate above-market rates of return on new acquisitions, assuming we see discounts in asset prices similar to prior recessions.”