What is the 13F Pro Quality Score for CLDI?

13F Pro ranks Calidi Biotherapeutics, Inc. (CLDI) on the 13F Pro Quality Score, a 0–100 composite of 32 fundamental signals including return on invested capital, free cash flow consistency, balance-sheet strength, earnings quality, growth durability, and valuation discipline. The score refreshes after each 10-K and 10-Q filing on SEC EDGAR. View CLDI's current score at https://13fpro.ai/research/CLDI (free sign-up required for the full ranking).

Which hedge funds own the most CLDI stock?

Based on the most recent Form 13F-HR filings on SEC EDGAR, the largest reported institutional holders of CLDI include ARMISTICE CAPITAL,, SABBY MANAGEMENT,, Warberg Asset Management. Holdings are reported quarterly within 45 days of quarter-end and updated on https://13fpro.ai/research/CLDI as soon as new 13F filings post.

Where does 13F Pro source CLDI data?

All Calidi Biotherapeutics, Inc. fundamentals and ownership data come directly from SEC EDGAR. Calidi Biotherapeutics, Inc. files with the SEC under CIK 1855485. 13F Pro ingests XBRL financial facts from 10-K and 10-Q filings, Form 13F-HR institutional holdings, and Form 4 insider transactions, with no third-party rewrites or estimates.

What sector is CLDI in?

Calidi Biotherapeutics, Inc. (CLDI) is classified in the Healthcare sector. 13F Pro publishes sector-level fund flow analysis and quality leaders at https://13fpro.ai/research/sector/healthcare.

How often is CLDI research updated on 13F Pro?

CLDI's fundamentals refresh within hours of each new 10-K or 10-Q filing on SEC EDGAR. Institutional ownership updates after each quarterly 13F filing window. Insider transactions update after each Form 4 filing. The 13F Pro Quality Score recalculates after every fundamentals refresh.

Calidi Biotherapeutics, Inc.(CLDI)Stock Analysis

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13F Pro Quality Score

Not in ranked universe

Below size threshold

Quality rankings require at least $50M annual revenue or $250M total assets to filter out micro-caps and shell companies. This company reported $0.0M in revenue.

Financial data, filings, and institutional holdings below are still tracked in full — only the proprietary quality composite is unavailable for this name.

CLDI Stock Analysis & AI Quality Score

AI stock analysis and institutional research for Calidi Biotherapeutics, Inc. (CLDI), a Healthcare sector company. CLDI is not currently included in 13F Pro's AI-ranked quality universe — quality rankings require at least $50m annual revenue or $250m total assets to filter out micro-caps and shell companies. this company reported $0.0m in revenue. Based on the latest XBRL financial filings (Q1 2026), Calidi Biotherapeutics, Inc. reports net income of $-4.1M, free cash flow of $-4.1M. Top institutional holders of CLDI by reported 13-F value include ARMISTICE CAPITAL,, SABBY MANAGEMENT,, Warberg Asset Management, based on the most recent SEC filings. CLDI trades on the NYSE exchange and files with the SEC under CIK 1855485. 13F Pro's AI research platform runs 10 specialized AI analysts — value, growth, momentum, macro, and activist specialists — that debate CLDI daily and publish AI-generated analysis with cited SEC sources. The platform aggregates historical XBRL financial facts, 10-Q and 10-K filings, insider Form 4 transactions, and institutional 13-F holdings for Calidi Biotherapeutics, Inc. directly from SEC EDGAR.

Net Income

Q1 2026

$-4.1M

Free Cash Flow

Q1 2026

$-4.1M

D/E Ratio

Q1 2026

0.13

Revenue & Net Income

Earnings Per Share

Key Financials Over Time

Export Financial Table · Pro+

Revenue

—FY 2025

FY22 $45.0KFY23 —FY24 —FY25 —

Net Income

+10.1% YoY

$-19.9MFY 2025

FY22 $-25.4MFY23 $-29.2MFY24 $-22.1MFY25 $-19.9M

Operating Income

+7.1% YoY

$-20.2MFY 2025

FY22 $-23.1MFY23 $-29.0MFY24 $-21.8MFY25 $-20.2M

EPS (Diluted)

+83.3% YoY

$-5.95FY 2025

FY22 $2.99FY23 $-17.33FY24 $-35.70FY25 $-5.95

Total Assets

-37.5% YoY

$8.9MFY 2025

FY22 $2.6MFY23 $10.0MFY24 $14.2MFY25 $8.9M

Total Debt

-81.9% YoY

$690.0KFY 2025

FY22 $5.4MFY23 $2.9MFY24 $3.8MFY25 $690.0K

Op. Cash Flow

-8.1% YoY

$-21.3MFY 2025

FY22 $-13.2MFY23 $-27.0MFY24 $-19.7MFY25 $-21.3M

Metric	FY 2025	FY 2024	FY 2023	FY 2022
Revenue	—	—	—	$45.0K
Net Income	$-19.9M +10.1%	$-22.1M +24.2%	$-29.2M -14.9%	$-25.4M
Operating Income	$-20.2M +7.1%	$-21.8M +24.9%	$-29.0M -25.4%	$-23.1M
EPS (Diluted)	$-5.95 +83.3%	$-35.70 -106.0%	$-17.33 -679.6%	$2.99
Total Assets	$8.9M -37.5%	$14.2M +41.6%	$10.0M +285.8%	$2.6M
Total Debt	$690.0K -81.9%	$3.8M +33.3%	$2.9M -47.2%	$5.4M
Operating Cash Flow	$-21.3M -8.1%	$-19.7M +27.0%	$-27.0M -104.2%	$-13.2M

AI Insight: CLDI Financial Trends

Calidi is a pre-revenue biotech burning $4–6M quarterly with minimal debt, but cash runway visibility is unclear.

• Net and operating losses stabilized at $4M in Q4 2025 and Q1 2026, down from $5–6M in mid-2025.

• Operating cash outflow improved to $4M in Q1 2026, best in dataset; total debt fell to $1M, lowest recorded.

• No revenue reported across all eight quarters; company remains entirely pre-commercialization.

⚠ Equity volatility ($-12M to $7M) signals potential dilution or accounting adjustments; balance sheet stability weak.

⚠ At $4M quarterly burn and minimal visible debt reduction, cash runway duration unknown without cash balance disclosure.

AI Insight: CLDI Ratio Trends

Leverage has stabilized dramatically after a spike to 2.49x D/E in Q4 2024, now normalizing to 0.13x.

• D/E spiked to 2.49x in Q4 2024, then fell sharply to 0.25x in Q1 2025 and has remained below 0.20x since Q3 2025.

• TTM D/E now 0.13x, matching Q1 2026 quarter-end level, indicating sustained deleveraging and strengthened balance sheet.

⚠ Q4 2024 debt spike remains unexplained; verify whether it was financing event, acquisition, or one-time liability.

⚠ Profitability metrics (OpMargin, NPM, ROE, ROA, ROIC) absent for all periods; cannot assess operational quality or efficiency trends.

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Available Research

13F Pro tracks comprehensive data for Calidi Biotherapeutics, Inc. including:

SEC EDGAR filings (10-K, 10-Q, 8-K)

XBRL financial facts (revenue, EPS, margins)

Insider transactions (Form 4)

Institutional 13F holdings

Quality rankings (32 signals)

AI analyst debates & daily meetings

Historical financial trends

Peer comparison & sector analysis

Top Institutional Holders of CLDI

ARMISTICE CAPITAL, LLC
$209.9K879,000 sh
SABBY MANAGEMENT, LLC
$103.9K434,903 sh
Warberg Asset Management LLC
$59.5K250,000 sh
HighTower Advisors, LLC
$19.9K83,523 sh
GEODE CAPITAL MANAGEMENT, LLC
$15.0K63,019 sh
RS CRUM INC.
$9.6K40,256 sh
SRS Capital Advisors, Inc.
$8.9K37,345 sh
JANE STREET GROUP, LLC
$8.3K34,802 sh
VANGUARD CAPITAL MANAGEMENT LLC
$6.1K25,509 sh
Belpointe Asset Management LLC
$4.8K19,921 sh

Fund	Value	Shares
ARMISTICE CAPITAL, LLC	$209.9K	879,000
SABBY MANAGEMENT, LLC	$103.9K	434,903
Warberg Asset Management LLC	$59.5K	250,000
HighTower Advisors, LLC	$19.9K	83,523
GEODE CAPITAL MANAGEMENT, LLC	$15.0K	63,019
RS CRUM INC.	$9.6K	40,256
SRS Capital Advisors, Inc.	$8.9K	37,345
JANE STREET GROUP, LLC	$8.3K	34,802
VANGUARD CAPITAL MANAGEMENT LLC	$6.1K	25,509
Belpointe Asset Management LLC	$4.8K	19,921

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Is CLDI a good stock to buy?

13F Pro's AI-powered analysis of Calidi Biotherapeutics, Inc. (CLDI) draws on SEC EDGAR-sourced fundamentals, institutional 13F holdings, and insider Form 4 transactions in the Healthcare sector (listed on NYSE). The 32-signal AI Quality Score, current rank, and full bull/bear verdict for CLDI are available on the CLDI stock profile dashboard — with the same data, AI insights, ratios, and institutional activity refreshed after every 10-K, 10-Q, 13F, and Form 4 filing.

Which hedge funds own CLDI?

Institutional investors are required to disclose their holdings quarterly via SEC Form 13F. 13F Pro aggregates these filings to show which hedge funds, mutual funds, and asset managers are buying or selling CLDI. Combined with insider transaction data from Form 4 filings and AI-powered analysis from 10 specialized research agents, 13F Pro provides a comprehensive view of Calidi Biotherapeutics, Inc.'s investment landscape.