Caloric deficit does not result in weight loss. It results in a smaller energy input. That smaller input can be balanced two ways: 1. Utilizing stored calories

Caloric deficit does not result in weight loss. It results in a smaller energy input. That smaller input can be balanced two ways: 1. Utilizing stored calories (which will result in weight loss). 2. Expending less energy (which would not result in weight loss). Realistically, reducing calories probably results in some combination of the two, with things tilting toward expending less energy as your body gets below a body fat percentage that it "wants" to be at.