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Calidi Biotherapeutics, Inc.

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

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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.

See the whole filing, with its images and exhibits

Condensed Consolidated Statements of Operations

(In thousands, except per share data)

Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
(Unaudited)
OPERATING EXPENSES
Research and development$(2,361)$(2,153)$(7,379)$(7,063)
General and administrative(2,687)(3,073)(8,395)(10,687)
Total operating expense(5,048)(5,226)(15,774)(17,750)
Loss from operations(5,048)(5,226)(15,774)(17,750)
OTHER INCOME (EXPENSES), NET
Interest expense(31)(98)(94)(304)
Interest expense – related party(10)(134)(71)(454)
Change in fair value of other liabilities and derivatives(93)352(79)240
Change in fair value of other liabilities and derivatives – related party(7)28(5)36
Grant income——50181
Other income (expense), net188(14)1
Total other income (expenses), net(123)156(213)(300)
LOSS BEFORE INCOME TAXES(5,171)(5,070)(15,987)(18,050)
Income tax provision(10)1(17)(11)
NET LOSS$(5,181)$(5,069)$(16,004)$(18,061)
Net loss attributable to noncontrolling interest(32)(15)(154)(15)
NET LOSS ATTRIBUTABLE TO CONTROLLING INTEREST(5,149)(5,054)(15,850)(18,046)
Deemed dividend on warrants(5,673)—(5,673)(1,671)
NET LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS$(10,822)$(5,054)$(21,523)$(19,717)
Net loss per share; basic and diluted$(2.21)$(7.75)$(6.40)$(42.40)
Weighted average common shares outstanding; basic and diluted4,9076523,362465

CALIDI BIOTHERAPEUTICS, INC.

CONDENSED CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

(In thousands)

Three Months Ended September 30,Nine Months Ended September 30,
2025202420252024
(Unaudited)
NET LOSS$(5,181)$(5,069)$(16,004)$(18,061)
Other comprehensive income (expense), net of tax:
Foreign currency translation adjustment—(47)15(27)
COMPREHENSIVE LOSS$(5,181)$(5,116)$(15,989)$(18,088)
Comprehensive loss attributable to noncontrolling interest(32)(15)(154)(15)
COMPREHENSIVE LOSS ATTRIBUTABLE TO COMMON STOCKHOLDERS$(5,149)$(5,101)$(15,835)$(18,073)
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The text of this filing, as the company filed it with the SEC, without its images or exhibits. This is not investment advice.