Calidi Biotherapeutics, Inc.

For the period ended Sep 30, 2025. Filed Nov 13, 2025.

About this filing

A company's report for each of its first three quarters. The financial statements are not audited. It shows how the business has moved since the last annual report, and what management says changed.

Sep 30, 2025 · Filed Nov 13, 2025

CLDI$0.73+4.7%Stored close · as of Nov 9, 2026

Extracted filing text, with the paragraph anchors used by the comparison.

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Contents

Condensed Consolidated Statements of Changes in Total Equity

CONDENSED CONSOLIDATED STATEMENTS OF TOTAL EQUITY

(Unaudited)

(In thousands, except share amounts)

Common Stock · Additional Paid-in · Accumulated Other Comprehensive · Accumulated · Total Stockholders’ · Non controlling · Total
	Shares	Amount	Capital	Income (Loss)	Deficit	Equity	Interest	Equity
Balance at December 31, 2024	1,730,051	$—	$123,277	$(28)	$(121,715)	$1,534	$434	$1,968
Issuance of common stock through At the Market Offering	223,583	—	2,754	—	—	2,754	—	2,754
Issuance of common stock and warrants through January Confidentially Marketed Public Offering, net of financing costs	416,667	—	3,607	—	—	3,607	—	3,607
Issuance of common stock and warrants for March Registered Direct Offering and Concurrent Private Placement, net of financing costs	277,084	—	3,423	—	—	3,423	—	3,423
Restricted stock unit shares released	2,038	—	—	—	—	—	—	—
Stock-based compensation	—	—	607	—	—	607	—	607
Foreign currency translation adjustments	—	—	—	2	—	2	—	2
Net loss	—	—	—	—	(4,986)	(4,986)	(76)	(5,062)
Balance at March 31, 2025	2,649,423	$—	$133,668	$(26)	$(126,701)	$6,941	$358	$7,299
Exercise of pre-funded warrants	227,334	—	3	—	—	3	—	3
Stock-based compensation	—	—	522	—	—	522	—	522
Foreign currency translation adjustments	—	—	—	13	—	13	—	13
Net loss	—	—	—	—	(5,715)	(5,715)	(46)	(5,761)
Balance at June 30, 2025	2,876,757	$—	$134,193	$(13)	$(132,416)	$1,764	$312	$2,076
Issuance of common stock for Reverse Stock Split fractional shares	25,029	—	—	—	—	—	—	—
Issuance of common stock through August Public Offering	1,922,764	1	5,767	—	—	5,768	—	5,768
Exercise of pre-funded warrants	1,532,166	—	2	—	—	2	—	2
Issuance of common shares through July Inducement Offer, net of financing costs	549,596	—	4,004	—	—	4,004	—	4,004
Stock-based compensation	—	—	529	—	—	529	—	529
Foreign currency translation adjustments	—	—	—	—	—	—	—	—
Net loss	—	—	—	—	(5,149)	(5,149)	(32)	(5,181)
Balance at September 30, 2025	6,906,312	$1	$144,495	$(13)	$(137,565)	$6,918	$280	$7,198

Common Stock · Additional Paid-in · Accumulated Other Comprehensive · Accumulated · Total Stockholders’ · Non controlling · Total
	Shares	Amount	Capital	Income (Loss)	Deficit	Equity	Interest	Equity
Balance at December 31, 2023	296,019	$—	$91,384	$(47)	$(99,572)	$(8,235)	$—	$(8,235)
Issuance of common stock in lieu of cash for services	417	—	29	—	—	29	—	29
Issuance of common stock in lieu of cash for SEPA commitment fee	1,157	—	81	—	—	81	—	81
Issuance of common stock to Calidi stockholders as result of Merger	132	—	—	—	—	—	—	—
Issuance of warrants for legal settlement	—	—	158	—	—	158	—	158
Financing fees	—	—	(327)	—	—	(327)	—	(327)
Stock-based compensation	—	—	888	—	—	888	—	888
Foreign currency translation adjustments	—	—	—	58	—	58	—	58
Net loss	—	—	—	—	(7,225)	(7,225)	—	(7,225)
Balance at March 31, 2024	297,725	$—	$92,213	$11	$(106,797)	$(14,573)	$—	$(14,573)
Issuance of common shares and pre-funded warrants through April Public Offering, net of financing costs	110,271	—	4,822	—	—	4,822	—	4,822
Issuance of common stock per Convertible Note conversion	21,408	—	1,028	—	—	1,028	—	1,028
Issuance of common shares through May Inducement Offer, net of financing costs	89,151	—	1,818	—	—	1,818	—	1,818
Exercise of common stock warrants	4,167	—	100	—	—	100	—	100
Exercise of common pre-funded warrants	16,375	—	2	—	—	2	—	2
Issuance of RSUs for deferred compensation settlement	—	—	105	—	—	105	—	105
Stock-based compensation	—	—	751	—	—	751	—	751
Foreign currency translation adjustments	—	—	—	(38)	—	(38)	—	(38)
Net loss	—	—	—	—	(5,767)	(5,767)	—	(5,767)
Balance at June 30, 2024	539,097	$—	$100,839	$(27)	$(112,564)	$(11,752)	—	(11,752)
Exercise of common stock warrants	144,798	—	2,736	—	—	2,736	—	2,736
Issuance of common stock for liability settlement	10,074	—	282	—	—	282	—	282
Issuance of common stock for legal settlement	1,667	—	150	—	—	150	—	150
Issuance of common stock for Reverse Stock Split fractional shares	6,621	—	—	—	—	—	—	—
Issuance of common shares and warrants per subscription agreement	58,235	—	1,000	—	—	1,000	—	1,000
Issuance of common stock per Convertible Note conversion	15,401	—	211	—	—	211	—	211
Investment in Nova Cell	—	—	1,500	—	—	1,500	500	2,000
Stock-based compensation	—	—	691	—	—	691	—	691
Foreign currency translation adjustment	—	—	—	(47)	—	(47)	—	(47)
Net loss	—	—	—	—	(5,054)	(5,054)	(15)	(5,069)
Balance at September 30, 2024	775,893	$—	$107,409	$(74)	$(117,618)	$(10,283)	$485	$(9,798)

ContentsView on SEC.gov

The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.