$CBUS

Cibus, Inc.

CIK:0001705843|SEC Filings

CONDENSED CONSOLIDATED STATEMENTS OF OPERATIONS - USD ($) $ in Thousands	3 Months Ended		6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025	Jun. 30, 2026	Jun. 30, 2025
Revenue:
Total revenue	$ 994	$ 933	$ 2,675	$ 1,967
Operating expenses:
Research and development	8,506	12,228	17,223	24,027
Selling, general, and administrative	5,413	6,651	10,497	16,507
Goodwill impairment	0	0	0	20,950
Total operating expenses	13,919	18,879	27,720	61,484
Loss from operations	(12,925)	(17,946)	(25,045)	(59,517)
Royalty liability interest expense - related parties	(9,475)	(8,668)	(18,596)	(17,045)
Other interest income, net	111	106	139	225
Non-operating income (expense), net	150	(23)	148	416
Loss before income taxes	(22,139)	(26,531)	(43,354)	(75,921)
Income tax expense	(6)	(27)	(13)	(29)
Net loss	(22,145)	(26,558)	(43,367)	(75,950)
Net loss attributable to noncontrolling interest	0	(1,186)	0	(3,692)
Net loss attributable to Cibus, Inc. stockholders	$ (22,145)	$ (25,372)	$ (43,367)	$ (72,258)
Basic net loss per share of Class A common stock (in dollars per share)	$ (0.29)	$ (0.61)	$ (0.61)	$ (1.88)
Diluted net loss per share of Class A common stock (in dollars per share)	$ (0.29)	$ (0.61)	$ (0.61)	$ (1.88)
Weighted average shares of Class A common stock outstanding - basic (in shares)	76,755,936	41,618,893	71,011,006	38,353,931
Weighted average shares of Class A common stock outstanding - diluted (in shares)	76,755,936	41,618,893	71,011,006	38,353,931

CONDENSED CONSOLIDATED STATEMENTS OF CASH FLOWS - USD ($) $ in Thousands	6 Months Ended
	Jun. 30, 2026	Jun. 30, 2025
Operating activities
Net loss	$ (43,367)	$ (75,950)
Adjustments to reconcile net loss to net cash used in operating activities:
Royalty liability interest expense - related parties	18,596	17,045
Goodwill impairment	0	20,950
Depreciation and amortization	2,359	3,209
Stock-based compensation	3,055	4,477
Loss on disposal of assets, net	4	80
Change in fair value of liability classified Class A common stock warrants	(41)	(455)
Other	(2)	49
Changes in operating assets and liabilities:
Accounts receivable	(335)	88
Prepaid expenses and other current assets	149	(44)
Accounts payable	(907)	82
Accrued expenses	(86)	3,998
Accrued compensation	(463)	(213)
Deferred revenue	88	(17)
Right-of-use assets and lease obligations, net	(95)	1,141
Other assets and liabilities, net	151	129
Net cash used in operating activities	(20,894)	(25,431)
Investing activities
Proceeds from sales of property, plant, and equipment	43	0
Purchases of property, plant, and equipment	(73)	(384)
Net cash used in investing activities	(30)	(384)
Financing activities
Proceeds from issuances of securities	37,260	50,100
Costs paid related to issuances of securities	(5,357)	(1,951)
Payment of taxes related to restricted stock units withheld from employees	(115)	(39)
Repayments of notes payable	(352)	(279)
Net cash provided by financing activities	31,436	47,831
Effect of exchange rate changes on cash and cash equivalents	(6)	14
Net increase in cash and cash equivalents	10,506	22,030
Cash and cash equivalents – beginning of period	9,923	14,433
Cash and cash equivalents – end of period	$ 20,429	$ 36,463

CONDENSED CONSOLIDATED BALANCE SHEETS - USD ($) $ in Thousands	Jun. 30, 2026	Dec. 31, 2025
Current assets:
Cash and cash equivalents	$ 20,429	$ 9,923
Accounts receivable	838	503
Prepaid expenses and other current assets	2,189	1,643
Total current assets	23,456	12,069
Property, plant, and equipment, net	4,919	6,300
Operating lease right-of-use assets	21,015	21,557
Intangible assets, net	30,770	31,679
Goodwill	232,516	232,516
Other non-current assets	771	926
Total assets	313,447	305,047
Current liabilities:
Accounts payable	5,612	8,070
Accrued expenses	1,893	1,946
Accrued compensation	2,606	3,061
Deferred revenue	627	536
Current portion of notes payable	812	435
Current portion of operating lease obligations	2,859	2,731
Class A common stock warrants	38	79
Total current liabilities	14,447	16,858
Notes payable, net of current portion	53	93
Operating lease obligations, net of current portion	29,018	29,783
Royalty liability - related parties	253,519	234,923
Other non-current liabilities	1,608	1,561
Total liabilities	298,645	283,218
Commitments and contingencies (See Note 8)
Stockholders’ equity:
Additional paid-in capital	918,639	882,171
Class A common stock in treasury, at cost; 249,317 shares as of June 30, 2026, and 193,195 shares as of December 31, 2025	(2,256)	(2,141)
Accumulated deficit	(901,618)	(858,251)
Accumulated other comprehensive income	24	39
Total stockholders’ equity	14,802	21,829
Total liabilities and stockholders’ equity	313,447	305,047
Common Class A
Stockholders’ equity:
Common stock	13	11
Common Class B
Stockholders’ equity:
Common stock	$ 0	$ 0