Quarterly ResultMay 14, 2026, 04:19 PM
Cibus Q1 Net Loss Narrows to $21.2M; Revenue Up 62.6%
AI Summary
Cibus, Inc. reported a significantly reduced net loss of $21.2 million for Q1 2026, an improvement from $49.4 million in the prior year, while revenue increased by 62.6% to $1.68 million. The company strengthened its balance sheet by raising approximately $33 million in net proceeds from equity sales, bringing cash and cash equivalents to $30.3 million. Cibus also provided a positive business update, highlighting progress in its Rice herbicide tolerance program towards a targeted 2027 LATAM launch and expansion of its Sustainable Ingredients program.
Key Highlights
- Net loss narrowed to $21.2 million in Q1 2026 from $49.4 million in Q1 2025.
- Revenue increased 62.6% to $1.68 million for Q1 2026 from $1.03 million in Q1 2025.
- Raised approximately $33 million in net proceeds from equity offerings in Q1 2026.
- Cash and cash equivalents stood at $30.3 million as of March 31, 2026.
- R&D expense decreased 26.1% to $8.7 million; SG&A expense decreased 48.4% to $5.1 million.
- Rice herbicide tolerance program on track for targeted 2027 LATAM launch; US launch reset to 2029.
- Sustainable Ingredients program ramping up for planned 2026 expansion with increased R&D funding.
- Appointed Thomas Urban to its Board of Directors in April 2026.