CBUS

Download the Complete Report Here Key Takeaways: New CEO Craig Wichner is driving a sharper focus on commercial execution as initial LATAM rice commercialization moves to 2028. Wichner, appointed CEO in June after joining the Board in November 2025, has outlined three monetization pathways for the business: platform-program revenue, per-acre trait royalties and deeper multi-trait relationships with seed-company partners. Near-term revenue remains concentrated in Sustainable Ingredients, while rice advances toward commercialization. Revenue increased 6.5% y/y to $1.0 million in 2Q26, while 1H26 revenue rose 36% to $2.7 million from $2.0 million, driven by Sustainable Ingredients collaboration activity. In rice, testing of HT traits transferred into Interoc germplasm is underway, Fedearroz remains on track for a 2028 launch and Interoc has the potential for a limited 2028 launch focused on hybrid varieties. Rice remains the first significant test of CBUS’ royalty model, representing 5-7 million peak addressable acres and >$200 million of potential annual royalties across the Americas. The Interoc expansion from two traits to five is the clearest strategic proof point because it begins to validate CBUS’ ambition to become a recurring editing engine rather than a one trait licensor. The August amendment adds three potential future traits, shifting the contemplated relationship toward a multi-trait product pipeline and allowing the same RTDS and Trait Machine infrastructure to support repeated development programs within a single customer. That model is increasingly supported by execution across crops: CBUS has improved 10 customer canola and winter oilseed rape lines, returned six of those lines, and delivered three improved rice lines to a U.S. customer, while targeting an approximately 12-month editing turnaround across crops after demonstrating that cadence in canola. If replicated across CBUS’ seven existing rice seed-company customers, the opportunity becomes less dependent on individual trait launches and increasingly reflects an embedded breeding-platform relationship with recurring development and royalty potential. Rice remains the core royalty-validation pathway, but the move to a 2028 LATAM launch increases the importance of tangible commercial milestones over the next 12-18 months. CBUS maintains seven rice seed-company customers across Latin America and the U.S., while discussions continue with additional companies in Brazil and Argentina and several large participants in India. Latin America represents the bulk of the 5-7 million peak addressable acres and >$200 million annual Americas royalty opportunity, while the U.S. launch remains targeted for 2029 alongside Albaugh’s herbicide-registration timeline. During the quarter, CBUS advanced field trials of an improved first-generation trait and continued work to identify the genetic changes associated with increased herbicide tolerance and seed fertility. Technical progress remains encouraging, but the next stage of valuation de-risking increasingly depends on successful partner testing, definitive commercial agreements, seed production and launch readiness. Initial royalties are now expected with commercial acres in 2028 and to build through 2029 as adoption expands. Interoc’s increased focus on hybrid rice could strengthen the durability and strategic value of CBUS’ royalty model over time as the route to commercialization evolves. Latin American rice has historically been weighted toward conventional and inbred varieties, but management expects hybrid penetration to increase as the market evolves, following a progression already seen in crops such as corn and canola. Interoc is emphasizing hybrid varieties, while Fedearroz remains more oriented toward conventional varieties, giving CBUS exposure to both routes to market. Hybrid adoption could be particularly attractive for the platform model because differentiated proprietary seed provides a stronger vehicle for stacking multiple productivity traits and deepening recurring relationships with seed-company partners. In that context, Interoc’s expansion from two contemplated traits to five could ultimately prove more valuable than a series of standalone licenses, particularly if CBUS becomes embedded in the partner’s ongoing breeding and product-development pipeline. Sustainable Ingredients assumes greater importance as the near-term revenue bridge, with 1H26 collaboration revenue increasing 36% and additional BioFragrance scale-up orders still targeted for 2H26. CBUS generated $2.7 million of revenue in 1H26 versus $2.0 million a year earlier, including $1.0 million in 2Q26 versus $0.9 million y/y, with the YTD increase driven by Sustainable Ingredients collaboration agreements. The initial BioFragrance program received its first customer payment in 4Q25 and has entered the commercial ramp-up phase, with the partner having already validated ingredient performance. The remaining steps are scaling production to commercial volumes, establishing supply terms and pricing, and ultimately moving to commercial production orders. Management continues to expect additional scale-up orders for the initial BioFragrances during 2H26, while fully commercialized partnerships could represent $20-$40 million of annual revenue. With first rice royalties now expected in 2028, successful conversion of BioFragrance activity into larger commercial orders is increasingly important to building revenue and partially funding the path to the rice launch. Regulatory momentum broadened materially during the quarter, improving commercial optionality across Europe while adding validation in the U.S. and LATAM. The European Union approved rules in June that generally allow precision-edited crops with genetic changes comparable to conventional breeding and no added foreign DNA to receive conventional-like treatment, with implementation now entering an approximately two-year period. Herbicide-tolerant plants and plants engineered to produce insecticidal substances remain excluded from that treatment, making disease resistance and Pod Shatter Reduction more directly relevant European opportunities. CBUS expects Pod Shatter Reduction in winter oilseed rape to be its first planned submission under the new framework, complementing England’s existing Precision Bred Organisms regime. Ecuador has confirmed HT1 and HT3 rice traits are equivalent to conventional breeding, while Peru has established a case-by-case technical framework under which gene-edited products lacking foreign DNA may be excluded from its MVO classification and GMO moratorium. USDA-APHIS has determined CBUS traits are not regulated articles subject to its biotechnology regulations, and the FDA completed review of the altered-lignin alfalfa trait with no further questions. For the programs covered by these determinations, commercial execution is increasingly shifting toward partner conversion, definitive agreements and seed deployment as regulatory pathways become clearer. Customer acquisition is centered on converting technical programs into deep, multi-product relationships, increasing the economic value of seed-company partnerships while improving development efficiency. CBUS’ commercial model starts by editing a partner’s elite germplasm, returning improved material and then expanding the relationship as the customer opens more of its breeding roadmap to the platform. Interoc’s expansion from two contemplated rice traits to five provides early evidence of that strategy, while CBUS continues discussions beyond its seven existing rice customers with seed companies in Brazil, Argentina and India. Europe provides an additional business-development channel, supported by a small local team with decades of seed-industry experience and established relationships across the region. Cost discipline remains visible in the P&L, while selective investment in technology and AI is intended to increase development capacity without rebuilding the prior expense structure. R&D declined 30% y/y to $8.5 million from $12.2 million, while SG&A fell 19% to $5.4 million from $6.7 million, bringing R&D and SG&A combined down nearly $5 million, or 26%, to $13.9 million. Operating loss consequently narrowed 28% to $12.9 million from $17.9 million, while net loss improved 17% to $22.1 million from $26.6 million and loss per share narrowed to $0.29 from $0.61. The gap between operating and net loss remains largely driven by $9.5 million of non-cash related-party royalty-liability interest expense, up from $8.7 million y/y, representing the largest reconciling item. Additional non-core savings are expected as facility consolidation is completed, while management is redirecting part of those savings toward commercial priorities, personnel and technology, including company-wide AI deployment aimed at improving employee productivity at less than the cost of equivalent incremental headcount. Over time, these investments could allow the same organization to support more crop and customer programs, helping platform revenue scale against a leaner cost base. Cash burn continues to trend lower, improving operating efficiency as CBUS funds the path to commercialization. Cash and cash equivalents declined to $20.4 million at June 30 from $30.3 million at March 31, while quarterly net cash usage declined approximately 19% sequentially and 31% y/y. Net cash used in operating activities was $20.9 million in 1H26 versus $25.4 million in 1H25, a $4.5 million improvement, and management is moving toward approximately $9 million of quarterly usage while targeting an annualized net cash-usage run rate of ~$35 million or less exiting 2026. Importantly, working capital was not a source of cash support: accounts payable declined to $5.6 million from $8.1 million at year-end, accrued compensation fell to $2.6 million from $3.1 million, while accounts receivable increased to $0.8 million from $0.5 million. With PP&E declining to $4.9 million from $6.3 million and 1H26 capital purchases of only about $0.1 million, the funding requirement remains primarily operating rather than capital-intensive. Existing cash is expected to support planned operating expenses and capital requirements into early 1Q27 absent additional financing, leaving capital access central to the near-term investment case as CBUS bridges toward BioFragrance scale-up and first rice royalties in 2028. Balance sheet reflects substantial equity funding during 1H26, providing near-term liquidity, while the new ATM adds additional financing flexibility. CBUS generated $31.4 million of net financing cash flow in 1H26, including approximately $19.8 million of net proceeds from the January offering and $13.6 million from the March offering. In May, the company also established a $50 million ATM facility with Jefferies, with only minimal utilization through June 30, preserving additional capacity should market conditions support further issuance. The ATM therefore provides an important bridge option, while the timing and economics of future issuance will remain relevant to per-share value creation as CBUS works toward BioFragrance scale-up and initial rice royalties in 2028. The near-term outlook points to a stronger revenue trajectory and continued narrowing of losses, supported by Sustainable Ingredients activity and a structurally lower cost base ahead of rice commercialization in 2028. As a near-term reference point, 3Q26E revenue is estimated at approximately $1.3 million based on Street estimates sourced from TIKR, as BioFragrance scale-up activity and collaboration milestones become more important. Annual estimates call for revenue to increase from $3.6 million in 2025 to $5.2 million in 2026E, $12.4 million in 2027E and $47.6 million in 2028E, reflecting a larger commercialization inflection as rice royalties begin to contribute. The lower operating-cost base should also support continued improvement in earnings, as annual loss is expected to narrow from $127.1 million in 2025 to $56.8 million in 2026E, $49.9 million in 2027E and $14.7 million in 2028E. Key milestones over the balance of the year remain additional BioFragrance scale-up orders, successful Interoc testing and progress toward a definitive LATAM commercialization agreement ahead of initial rice royalties in 2028. Disclaimer: Exec Edge does not publish proprietary estimates, ratings, price targets, or investment recommendations. The valuation discussion below is illustrative only and is based on company filings, management commentary, and third-party data and estimates. It does not constitute a recommendation, price target, rating, or prediction of future pricing. CBUS’ disclosed Americas rice HT royalty opportunity remains the cleanest base valuation anchor, while the broader trait portfolio provides substantial longer-duration optionality. Management continues to frame the Americas rice herbicide-tolerance opportunity at ~5–7 million peak addressable acres and >$200 million of potential annual royalties at peak. This is not a revenue forecast and should not be treated as de-risked revenue, but remains the most relevant starting point given rice HT is CBUS’ clearest royalty-validation pathway. The opportunity is supported by seven active rice seed-company relationships, ongoing testing of material transferred into Interoc germplasm and the August expansion of the contemplated Interoc relationship from two traits to five. At a share price of approximately $1.77, CBUS’ 76.43 million shares outstanding imply an equity value of approximately $135.3 million, equivalent to ~0.68x the disclosed >$200 million peak Americas rice royalty opportunity before assigning value to Sustainable Ingredients or the broader crop portfolio. The important change this quarter is timing rather than addressable economics: initial LATAM commercialization has moved from late 2027 to 2028, increasing the importance of execution, financing and adoption in determining how much of the disclosed opportunity investors are willing to recognize. A discounted rice-only framework continues to illustrate substantial valuation sensitivity if CBUS converts its lead royalty opportunity into recurring acreage economics. Applying an illustrative 5.0x-10.0x multiple to $200 million of peak annual Americas rice HT royalties and discounting the resulting value back five years at 15% produces an equity-value-equivalent range of approximately $497 million to $994 million, or $6.51-$13.01 per share using 76.43 million shares outstanding; the 7.5x midpoint implies approximately $746 million, or $9.76 per share. The framework is intended to capture the potential economics of a mature royalty stream rather than apply a conventional agricultural revenue multiple, since successful trait royalties should carry materially higher incremental margins than a seed-manufacturing model. Importantly, this remains an illustrative sensitivity rather than a forecast: realizable value depends on definitive LATAM commercial economics, successful Interoc testing and seed production, farmer adoption, Albaugh’s U.S. herbicide-registration timeline, IP durability, capital requirements and the pace at which the 5–7 million-acre opportunity converts into royalty-bearing acreage. The move to a 2028 LATAM launch does not alter the underlying methodology, but increases the importance of commercial agreements and launch readiness in determining how much of the illustrative value investors are willing to recognize. Sustainable Ingredients adds nearer-term optionality and could become increasingly relevant to valuation if current scale-up activity converts into repeatable commercial economics. Sustainable Ingredients supported $2.7 million of 1H26 revenue, up 36% y/y, following the first BioFragrance customer payment in 4Q25, with additional scale-up orders still targeted for 2H26. Management estimates that fully commercialized BioFragrance partnerships could represent $20-$40 million of annual revenue. Applying an illustrative 5.0x-8.0x multiple and discounting the resulting value back five years at 15% implies approximately $0.65-$2.10 per share of incremental value. We would not include that value in the base rice case at this stage, however, given limited disclosure around commercial order size, pricing, margin structure, exclusivity and recurring economics. The more important near-term valuation driver is whether 2H26 scale-up orders convert into larger commercial activity and whether subsequent fragrance products can move through the same edited-yeast process with lower incremental development requirements. The broader trait portfolio adds meaningful optionality, but valuation still hinges on execution and funding discipline. Management’s productivity-trait pipeline spans ~367-369 million acres and >$1.9 billion of potential annual royalties, versus 5-7 million acres and >$200 million for Americas rice HT. Programs extend across rice, canola, soybean and longer-duration traits, with Interoc’s expansion from two to five traits signaling deeper customer engagement. However, these opportunities remain less de-risked than rice, and the shift of LATAM royalties to 2028, alongside $20.4 million of cash and runway into early 1Q27, keeps execution and financing risk central. The key rerating drivers remain a definitive LATAM commercialization agreement, successful Interoc testing and launch preparation, 2H26 BioFragrance scale-up orders and disciplined funding execution. Progress across these milestones would support greater recognition of the rice royalty base while increasing the value attributed to Sustainable Ingredients and the broader trait portfolio. Street consensus provides a useful external reference point. The current mean Street price target of $14.33, sourced from TIKR, sits above the $13.01 high end of the illustrative rice-only framework, suggesting consensus incorporates some value beyond the Americas rice HT opportunity, including Sustainable Ingredients scale-up, broader crop programs, geographic expansion and the RTDS / Trait Machine platform. Read Exec Edge’s Initiation on Cibus, Inc. Here Subscribe to our Weekly Newsletter to Receive All Research Contact: Executives-Edge.com [email protected] The post Cibus Inc: Interoc Expands Rice Trade to 5 Traits, 36% Revenue Growth – Quarterly Update Report appeared first on ExecEdge.

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. New CEO Craig Wichner is shifting the company's focus toward near-term revenue generation and capital discipline, prioritizing projects that unlock existing value over long-term R&D. The business model is now structured into three tiers: immediate platform program revenue, trait royalty scaling (starting with rice), and deepening long-term technical partnerships. Management attributes a 35% year-to-date revenue increase to the sustainable ingredients program, which serves as a proof point for the platform's ability to edit microbes for consumer products. The platform's scalability allows Cibus to transfer traits across different crops (e.g., rice, wheat, and canola) without starting from scratch, significantly lowering development costs for each subsequent program. Operational efficiency is being driven by a consolidation of facilities and a company-wide rollout of AI tools to increase team productivity for less than the cost of a full-time employee. Strategic positioning in row crops focuses on licensing traits to large seed companies to earn royalties per acre, rather than competing directly in seed distribution. Initial commercial launch timing for rice in Latin America with Federarroz has been updated from late 2027 to 2028., while Interoc targets a limited launch in 2028 due to a strategic shift toward hybrid varieties. The biofragrance partnership is projected to represent a $20 million to $40 million annual revenue opportunity once fully commercialized and scaled. Management expects additional scale-up orders for biofragrances in the second half of 2026, following the successful confirmation of ingredient performance by partners. The U.S. rice launch remains on track for 2029, strictly tied to the registration timeline of partner Albaugh's herbicide. Cash runway is expected to fund operations into early Q1 2027, with a targeted net cash usage run rate of approximately $35 million exiting 2026. The European Union's new rules treating gene-edited crops similarly to conventionally bred ones entered into force in July, opening a major market for Cibus' disease resistance and yield traits. Ecuador and Peru have confirmed that Cibus' herbicide-tolerant rice traits are equivalent to conventional breeding, underpinning the Latin American launch timeline. A non-cash royalty liability interest expense of $9.5 million remains the primary driver of the gap between operating loss and net loss. The company is undergoing a 2-year implementation period for new EU regulations, with the first planned submission being pod shatter reduction in winter oilseed rape. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. Management explained that focusing on specific partners like Interoc allows them to provide a competitive pipeline of traits for specific geographies, accelerating deployment. This approach creates a closer relationship where Cibus acts as an extension of the partner's breeding program rather than just a one-off licensor. The market is shifting from inbred varieties to hybrid seed production, which offers more stable recurring revenue and higher market penetration. Cibus models a peak addressable opportunity of 5 to 7 million acres in the region as hybrids continue to gain traction. Cibus has personnel on the ground in Europe and is actively participating in industry advocacy groups to influence the administration of the new rules. The company is leveraging existing partnerships, such as the one with the John Innes Centre, to fast-track traits like nutrient use efficiency under the new framework. The increase from $30 million to $35 million in projected cash usage reflects intentional investments in growth-oriented technology and personnel. Management characterized this as a strategic investment to bolster the pipeline and enable commercialization of available platform programs.

This article first appeared on GuruFocus. Revenue: $1.0 million for Q2 2026, compared to $0.9 million in the year-ago period. Six-Month Revenue: $2.7 million, a 35% increase year-over-year, earned under collaboration agreements for the Sustainable Ingredients Program. Research and Development (R&D) Expense: $8.5 million, down from $12.2 million in the year-ago period. SG&A Expense: $5.4 million, down from $6.6 million in the year-ago period. Net Loss: $22.1 million for Q2 2026, compared to $26.6 million in the year-ago period. Net Loss Per Share: $0.29, compared to $0.61 in the year-ago period. Cash and Cash Equivalents: $20.4 million as of June 30, 2026. Quarterly Cash Usage: Declined approximately 19% sequentially and 31% year-over-year. Non-Cash Royalty Liability Interest Expense: $9.5 million for the quarter, compared to $8.7 million in the year-ago period. Non-Operating Income: $0.2 million, compared to a nominal expense in the year-ago period. Net Cash Usage Run Rate: Targeting approximately $35 million exiting 2026. Warning! GuruFocus has detected 4 Warning Signs with CBUS. Is CBUS fairly valued? Test your thesis with our free DCF calculator. Release Date: August 13, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Revenue increased 35% year-to-date, driven by sustainable ingredients platform programs. Cash usage declined 19% sequentially and 31% year-over-year, reflecting improved cost discipline. Expanded partnership with Interoc from two to five rice traits, deepening the relationship toward a trait pipeline model. Regulatory progress: EU rules treat gene-edited crops as conventional, and FDA cleared altered lignan alfalfa trait. Platform scalability demonstrated across eight crops, with potential for multi-crop trait applications like nutrient use efficiency. Cash runway only extends into early Q1 2027, requiring potential financing. Rice royalty launch delayed from late 2027 to 2028, pushing revenue generation further out. Net loss of $22.1 million in Q2, with significant non-cash royalty liability interest expense of $9.5 million. Sustainable ingredients revenue remains small at $1 million quarterly, with scale-up orders not yet placed. Increased net cash usage target of $35 million for 2026, up from prior expectations, due to technology and personnel investments. Q: Can you elaborate on the model of becoming a "trait machine" for specific seed companies rather than licensing traits to large agricultural conglomerates, and what are the economics and competitive moat of this approach? A: Craig Wichner (CEO) explained that while Cibus continues to provide technology across the industry, the new focus is on providing a competitive advantage for specific key partners in specific geographies, by crop and partner. He cited the example of Interoc in rice, where the partner is excited about having a pipeline of traits to gain a strong competitive advantage. This model allows Cibus to focus efforts, accelerate deployment, and create closer relationships with key companies, which they believe will broaden the market opportunity. Q: What is the prevalence of hybrid rice in Latin America, and how many acres are modeled for the 2028 entry? A: Peter Beetham (President and COO) stated that the Latin American market has primarily been inbred or conventional varieties but is moving toward hybrid seed production. He noted that major crops globally are heading toward hybrids, and rice is now seeing the same impact. Cibus models the growth acreage in the 5 million to 7 million peak addressable acres coming forward with hybrids penetrating the marketplace, working with partners like Federose on the inbred side and Interoc on the hybrid side. Q: Regarding the new EU regulatory framework, do you have people on the ground to influence the two-year implementation process? A: Peter Beetham (President and COO) confirmed that Cibus has been following EU legislation for years and has already had interactions on implementation discussion points. He has personally presented in Brussels and is invited to more conferences. Carlo Broos (CFO) added that Cibus has a handful of business development people working in Europe, all with decades of experience at European seed companies. Craig Wichner (CEO) highlighted the John Innes Center partnership on nutrient use efficiency as a "poster child" for the EU opportunity, noting the company already has a footprint and great relationships in place. Q: For sustainable ingredients and biofragrances, you characterized the peak opportunity as $20 million to $40 million in revenue. Are there other non-biofragrance specialty sustainable ingredients being targeted? A: Craig Wichner (CEO) described sustainable ingredients as a broad platform that scales "from one microbe to 100 million acres," crossing from the unique microbe used for biofragrances to deploying in plants to make unique compounds. While biofragrances are the initial commercialized application, the company is working with partners on other uses, particularly palm kernel oil as a great platform for sustainable ingredients, with more details to be rolled out in coming quarters. Q: The cash burn guidance was previously less than $30 million over the next 12 months, but it is now around $35 million. Can you describe the changes related to technology and personnel? A: Carlo Broos (CFO) confirmed the company is on track for approximately $35 million or less net annualized cash usage exiting 2026, with a focus on saving expenses where possible, such as finishing facility consolidation. However, they recognize the need to spend a bit more on technology and people, geared toward priority programs and bolstering pipeline opportunities. Craig Wichner (CEO) added that they are driving non-core costs down while identifying areas to invest capital that deliver significant long-term value, such as rolling out AI to everyone in the company, which is already delivering significant qualitative results. Q: Can you provide more detail on the progress of the rice trait development and the expansion of the framework with Interoc? A: Peter Beetham (President and COO) noted that 2026 has been an exciting year for seeing the herbicide tolerance trait in the field again, with partners getting a chance to see it work well in multiple geographies. He highlighted that the company advanced development on both rice herbicide tolerance traits, including field trials of an improved first-generation trait. In August, Cibus expanded its framework with Interoc from two rice traits to five, changing the relationship from licensing one trait into a customer's variety to working toward being a trait pipeline powering their varieties. Q: What is the timeline for the commercial launch of rice traits in Latin America and the United States? A: Peter Beetham (President and COO) updated guidance on initial commercial launch timing for rice in Latin America from late 2027 to 2028, with customer Federose on track and Interoc strategically focusing on hybrid varieties with potential for a limited launch in 2028 as well. In the United States, the launch is paired with partner Albaugh's herbicide registration timeline, with current planning targeting a 2029 launch. Q: Can you elaborate on the progress of the pod shatter reduction program and its regulatory status in the UK? A: Peter Beetham (President and COO) stated that following two years of encouraging field trials in England in customers' own varieties, pod shatter reduction is moving to expanded trialing there. It will be planted under Britain's new precision breeding rules, which treat gene-edited crops the same as conventional ones. He also noted that Cibus's first planned submission under the new EU framework is pod shatter reduction in winter oilseed rape. Q: How is the company's cost discipline reflected in the financial results, and what is the expected cash runway? A: Carlo Broos (CFO) reported that quarterly cash usage declined approximately 19% sequentially and 31% year-over-year. Combined R&D and SG&A operating expenses declined by nearly $5 million year-over-year. Cash and cash equivalents as of June 30, 2026, were $20.4 million, which is expected to fund planned operating expenses and capital expenditure requirements into early in the first quarter of 2027. The company is targeting a net cash usage run rate exiting 2026 of approximately $35 million. Q: What is the significance of the recent regulatory decisions across multiple continents for Cibus's business? A: Peter Beetham (President and COO) highlighted that the regulatory environment continues to work in Cibus's favor. The European Union finalized new rules treating most crops improved without adding foreign DNA the same as conventionally bred crops, entering into force in July with a two-year implementation period. In Latin America, Ecuador and Peru confirmed that Cibus's first and second-generation herbicide-tolerant rice traits are equivalent to conventionally bred crops. The US FDA completed its review of the altered lignan alfalfa trait with no For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Interested in Cibus, Inc.? Here are five stocks we like better. Revenue increased 35% year over year to $2.7 million for the first six months of 2026, while second-quarter net loss narrowed to $22.1 million from $26.6 million. Cost-cutting reduced combined R&D and SG&A expenses by nearly $5 million, and cash of $20.4 million is expected to fund operations into early 2027. Cibus is ramping its Sustainable Ingredients program, including biofragrances and lauric oils, with additional scale-up orders expected in the second half of 2026. The company estimates fully commercialized biofragrance partnerships could generate $20 million to $40 million in annual revenue. Rice launch timing was pushed back from late 2027 to 2028 in Latin America, although Cibus continues targeting a 2029 U.S. launch. The company expanded its rice framework with Interoc and estimates a roughly $200 million annual royalty opportunity across the Americas. Cibus (NASDAQ:CBUS) reported second-quarter 2026 revenue of $1.0 million, compared with $0.9 million a year earlier, as the agricultural biotechnology company advanced its Sustainable Ingredients program and updated the expected timing of its initial rice launch in Latin America. For the first six months of 2026, revenue rose 35% to $2.7 million from $2.0 million in the prior-year period. Interim Chief Financial Officer Carlo Broos said the increase was earned under collaboration agreements for the company’s Sustainable Ingredients program. → AST SpaceMobile Earnings Just Reminded Investors How Risky Space Can Be The company also announced that Craig Wichner, who joined Cibus as chief executive officer about two months ago, is reviewing programs, expenses and capital allocation with an emphasis on near-term revenue generation, balance-sheet strength and capital discipline. Cibus reported a net loss of $22.1 million, or $0.29 per Class A common share, for the second quarter, compared with a net loss of $26.6 million, or $0.61 per share, in the year-earlier quarter. → Nebius’ Q2 Beat Shows the AI Bottleneck Is Capacity, Not Demand Research and development expense declined to $8.5 million from $12.2 million a year earlier, while selling, general and administrative expense fell to $5.4 million from $6.6 million. Broos said the reductions reflected cost-saving initiatives, with combined R&D and SG&A expense down by nearly $5 million year over year. Non-cash royalty liability interest expense to related parties was $9.5 million, up from $8.7 million in the prior-year quarter. Broos said this expense, which reflects interest accruing on the royalty liability balance, was the largest driver of the difference between the company’s operating loss and net loss. → On Holding's Price Stumble May Be an Opening for a Company Built to Run Cash and cash equivalents totaled $20.4 million as of June 30. Quarterly cash usage declined about 19% sequentially and 31% from a year earlier, according to Broos. The company expects existing cash to fund planned operating expenses and capital expenditures into early in the first quarter of 2027, excluding potential financing transactions. Cibus said it is targeting an annualized net cash usage rate of approximately $35 million or less exiting 2026. Management said the plan includes further cost reductions, including facility consolidation, while making additional investments in technology and personnel intended to support priority programs and growth opportunities. Management identified Sustainable Ingredients as one of its two priority near-term programs, alongside rice. The program uses gene-engineered yeast to produce oils and ingredients, including biofragrances, for consumer-product applications. Peter Beetham, Cibus’ co-founder, president and chief operating officer, said the program received its first customer payment in the fourth quarter of 2025 and is now in a commercial ramp-up phase with a consumer-products partner. Cibus said it has passed the initial stage in which its partner confirms that the ingredient performs in the finished product. The company continues to expect additional scale-up orders for its initial biofragrances during the second half of 2026. Beetham said Cibus is also developing additional fragrance ingredients using similar edited yeast and the same production process. When fully commercialized, Cibus estimates its biofragrance partnerships could represent annual revenue of $20 million to $40 million. The company is also advancing a partner-funded lauric oils program in soybean. During the question-and-answer session, Wichner said Sustainable Ingredients is a broader platform spanning microbes and plants, with potential applications beyond biofragrances. He said the company is working with partners on additional uses, including palm kernel oil-related opportunities, and expects to provide further updates in coming quarters. Cibus updated its guidance for an initial commercial rice launch in Latin America, shifting the expected timing from late 2027 to 2028. The company said customer Fedearroz remains on track, while customer Interoc is focusing strategically on hybrid varieties and could have a limited launch in 2028. Cibus has seven rice seed-company customers across Latin America and the U.S. and is continuing discussions with additional seed companies in Latin America and India. The company estimates an annual addressable royalty opportunity of roughly $200 million across the Americas, based on a combined 5 million to 7 million peak addressable acres. Beetham said Cibus advanced field trials of its first-generation rice herbicide-tolerance trait during the quarter and continued work to identify genetic changes associated with higher herbicide tolerance and seed fertility. Testing is underway on traits transferred to Interoc’s rice seed in May. In August, Cibus expanded its framework with Interoc from two rice traits to five, as the companies work toward a definitive commercial agreement. Beetham said the expanded arrangement is intended to move beyond licensing a single trait and toward providing an ongoing trait pipeline for Interoc’s rice varieties. In the U.S., Cibus continues to target a 2029 rice launch, tied to partner Warbah’s herbicide-registration timeline. The company expects rice royalties to begin in 2028 and build in 2029 as planted acreage and customer adoption expand. Wichner said Cibus is positioning its gene-editing platform around three sources of value: current platform-program revenue, trait royalties from commercial crop launches, and deeper long-term relationships in which Cibus becomes an extension of seed companies’ breeding programs. The company said it has demonstrated regeneration from single cells in eight crop platforms: rice, canola, wheat, flax, peanut, potato, sugar beet and cassava. Soybean is also under development. Cibus is advancing programs in nutrient-use efficiency, canola disease resistance, pod shatter reduction and second-generation herbicide tolerance. On regulation, Cibus said the European Union finalized rules in June that generally treat crops improved without foreign DNA similarly to conventionally bred crops. The rules entered into force in July and are undergoing a two-year implementation period. Cibus plans its first submission under the framework for pod shatter reduction in winter oilseed rape. The company also said Ecuador and Peru have confirmed that its first- and second-generation herbicide-tolerant rice traits are equivalent to conventionally bred products. In the U.S., the Food and Drug Administration completed its review of Cibus’ altered-lignin alfalfa trait and issued a letter stating it had no further questions, while USDA APHIS determined that Cibus’ traits are not regulated articles under its biotechnology regulations. Cibus, Inc is a biotechnology company specializing in precision gene editing for agricultural applications. Leveraging its proprietary Rapid Trait Development System (RTDS), Cibus develops improved crop traits without the introduction of foreign DNA. The company's platform enables targeted modifications to plant genomes, allowing for enhanced disease resistance, herbicide tolerance and yield optimization in key row crops. The company's core business centers on trait development services and licensing partnerships. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Cibus Q2 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for August 2026.

Commercialization execution advances in Rice and Sustainable Ingredients United States and European Union now aligned on generally treating crops with no added foreign DNA as conventionally bred Quarterly net cash usage declined 19% sequentially and 31% year over year SAN DIEGO, Aug. 13, 2026 (GLOBE NEWSWIRE) -- Cibus, Inc. (Nasdaq: CBUS) (the "Company"), a technology company that uses biology to produce sustainable ingredients and helps farmers grow more food with fewer inputs, today announced its financial results for the quarter ended June 30, 2026, and provided a business update. Management will host a conference call and webcast today at 4:30 p.m. ET. Management Commentary Craig Wichner, Chief Executive Officer of Cibus, commented, "Cibus has spent 25 years building a scalable technology platform, protected by more than 500 patents and patent applications spanning which genes to edit, how to edit them, and the traits that result. The platform lets us develop several traits at once in a partner's own crop variety, and return the improved seeds to them in a fraction of the time conventional breeding takes. The regulatory environment is moving in our favor, most recently in Europe, where crops improved with precise edits to the plant's own genes, with no foreign DNA added, can in many cases be treated on the same basis as conventionally bred crops." Mr. Wichner added, "After following Cibus for 10 years, I joined the board nine months ago. Over the past two months as Chief Executive Officer I have had the privilege of working closely with our teams, and what I found is traits and programs built up over 25 years, across many crops, with significant value. My job is to convert that into revenue, and our resources are prioritized toward the programs closest to it." Mr. Wichner continued, "My primary focus as CEO will be converting our platforms into value for shareholders through disciplined commercial execution. We start as a platform partner, as our Sustainable Ingredients program shows today. We become the royalty partner as our traits reach acres, such as those we have developed in Rice, Canola and Alfalfa. And over time, with the right partners, our vision is to become a mission-critical part of their innovation pipeline. The first two open the door and fund the path to those larger relationships we aim to create." Second Quarter and Recent Business Update The following summarizes Cibus' commercial, regulatory, and corporate progress during the second quarter and through the date of this release. Priority Pipeline Traits and Programs Weed Management (HT1 and HT3) in Rice Sustainable Ingredients Program (Partially partner-funded) Global Regulatory Development Corporate and Industry Progress Capital discipline and operational efficiency: Now expect an annual net cash usage run-rate of approximately $35 million exiting 2026, reflecting continued cost discipline while making additional strategic investments geared toward growth, such as technology and personnel, in the Company's highest priority commercial programs. Quarterly net cash usage declined approximately 19% for the three month period ended June 30, 2026 as compared to the first quarter of 2026, and approximately 31% from the second quarter of 2025. Net cash used in operating activities was $20.9 million for the six months ended June 30, 2026, compared to $25.4 million in the year-ago period. Leadership: Craig Wichner was appointed Chief Executive Officer effective June 8, 2026. Peter Beetham, Co-Founder, who served as Interim Chief Executive Officer, continues as President and Chief Operating Officer with a focus on operations and commercial execution. Additionally, effective April 2026, Thomas Urban was appointed to the Company's Board of Directors. Opportunity Pipeline Traits and Programs (Available for Partnership) Cibus has operational crop platforms in four crops: Rice, Canola and Winter Oilseed Rape, Flax and Cassava. A platform is operational when edited cells have been regenerated into whole plants. Cibus has demonstrated regeneration from single cells in eight crops, adding Wheat, Peanut, Potato and Sugar Beet to those four; additional crop platforms, including Soybean, are under active development. Because the operational platforms are already built, a program in any of these crops can begin with trait work rather than with years of platform development. Cibus' work helps position partners to establish market leadership for their crops. Nutrient-Use Efficiency (Root Microbe Symbiosis): Cibus is continuing its partner-funded collaboration with the John Innes Centre to evaluate edited Canola materials, with material transfer expected in the third quarter of 2026. The work targets the root side of nutrient uptake and addresses the fertilizer package rather than nitrogen alone, with potential application across Rice, Wheat, and Canola. Canola: Light Leaf Spot disease resistance work under the DEFRA-funded UK Farming Innovation Programme is advancing. Following two years of encouraging UK field trials in customer germplasm, the Pod Shatter Reduction program is progressing toward UK planting under the Precision Bred Organisms framework. Soybean: Continuing to build toward an expected operational platform. In January 2025, Cibus edited a Soybean plant. Alfalfa: Continuing a partnership to advance an improved-quality alfalfa trait toward commercialization, a potential proof point for the partner-funded development model. Expected Milestones for Priority Pipeline Traits and Programs Cibus intends to report ordinary course development progress and achievements in connection with its quarterly reporting process. Cibus presents below the most significant development and commercial milestone targets for its priority programs for 2026: Weed Management (HT1 and HT3) in Rice: Sustainable Ingredients: Second Quarter 2026 Financial Results Cash position: Cash and cash equivalents as of June 30, 2026, was $20.4 million. Taking into account the impact of implemented cost saving initiatives, and without giving effect to potential financing transactions that Cibus may pursue from time-to-time, Cibus expects that existing cash and cash equivalents is sufficient to fund planned operating expenses and capital expenditure requirements into early in the first quarter of 2027, reflecting current cash usage expectations. Research and development (R&D) Expense: R&D expense was $8.5 million for the quarter ended June 30, 2026, compared to $12.2 million in the year-ago period. The decrease of $3.7 million is primarily due to cost reduction initiatives. Selling, general, and administrative (SG&A) expense: SG&A expense was $5.4 million for the quarter ended June 30, 2026, compared to $6.6 million in the year-ago period. The decrease of $1.2 million is primarily due to a decrease of $1.0 million in professional fees and $0.5 million of cost savings related to personnel and facilities cost reduction initiatives. These decreases were partially offset by $0.3 million from increases in personnel costs from promotions, pay increases, and the addition of a permanent CEO as well as reduced allocations to R&D due to reductions in costs. Royalty liability interest expense - related parties: Royalty liability interest expense - related parties (non-cash) was $9.5 million for the quarter ended June 30, 2026, compared to $8.7 million in the year-ago period. The increase of $0.8 million is due to the recognition of interest expense on the accumulating Royalty Liability. Non-operating income (expense), net: Non-operating income (expense), net was income of $0.2 million for the quarter ended June 30, 2026, compared to a nominal expense in the year-ago period. The increase in income of $0.2 million is driven by grant income towards work Cibus performed and the fair value adjustment of the Company's liability classified common warrants. Net loss: Net loss was $22.1 million for the quarter ended June 30, 2026, compared to $26.6 million in the year-ago period. Net loss per share of Class A common stock: Net loss per share of Class A common stock was $0.29 for the quarter ended June 30, 2026, compared to net loss per share of Class A common stock of $0.61 in the year-ago period. The decrease of $0.32 in net loss per share of Class A common stock is primarily driven by the cost reduction initiatives described above and a year-over-year increase in weighted average shares outstanding. Conference Call and Webcast InformationCibus will host a live webcast, Thursday, August 13, 2026, at 4:30 p.m. Eastern Time to discuss its second quarter 2026 financial results and provide a year-to-date business update for 2026. The conference call can be accessed live over the phone by dialing (800) 420-1459 or for international callers by dialing (203) 518-9861. The conference ID is CIBUS (24287). A replay of the call will be available through August 27, 2026, by dialing (844) 512-2921 or for international callers by dialing (412) 317-6671; the passcode is 11162209. A live audio webcast of the call will be available under "Events & Presentations" in the Investor section of the Company's website, investor.cibus.com. An archived webcast will be available on the Company's website for 90 days after the event. How Cibus does it Cibus starts with a seed company's best existing varieties and makes precise improvements, often several at once, to a single cell from those varieties. It then grows that cell into a full plant carrying the new traits. The seed company keeps the variety it spent years perfecting; Cibus adds the improvements and licenses them back. Cibus' changes are precise edits to the plant's own genes, with no foreign DNA added, which is what separates them from transgenic GMOs. Cibus traits like disease resistance, and pod shatter reduction in canola and oilseed rape, are generally expected to qualify for conventional-breeding treatment in key jurisdictions. About Cibus Cibus (Nasdaq: CBUS) is a technology company that helps farmers grow more food with fewer inputs. Using its proprietary platform, Cibus improves a seed company's best crop varieties by making precise changes to the plant's own genes, with no foreign DNA added, then licenses those improvements back to the customer in exchange for royalties. Cibus is not a seed company. It develops crop traits at a fraction of the time and cost of conventional breeding, with a focus on higher yields, better quality, and reduced chemical use. For more information, visit www.Cibus.com. Forward Looking Statements This press release contains "forward-looking statements" within the meaning of applicable securities laws, including The Private Securities Litigation Reform Act of 1995. All statements, other than statements of present or historical fact included herein, including statements regarding Cibus' operational and financial performance, Cibus' market opportunities, Cibus' liquidity and capital resources, the implementation and execution of cost savings initiatives, Cibus' strategy, future operations, prospects, and plans, including the anticipated integration into partner pipelines, implementation of commercial agreements, receipt of commercial revenues and additional funding and the achievement of commercial milestone targets, are forward-looking statements. Cibus' assessment of the period of time through which its financial resources will be adequate to support its operations is a forward-looking statement. Because this involves such risks and uncertainties, the Company could use its available capital resources sooner than it currently expects. Forward-looking statements may be identified by words such as "anticipate," "believe," "intend," "expect," "plan," "scheduled," "could," "would" and "will," or the negative of these and similar expressions. These forward-looking statements are based on the current expectations and assumptions of Cibus' management about future events, which are based on currently available information. These forward-looking statements are subject to numerous risks and uncertainties, many of which are difficult to predict and beyond the control of Cibus. Cibus' actual results, level of activity, performance, or achievements could be materially different than those expressed, implied, or anticipated by forward-looking statements due to a variety of factors, including, but not limited to: Cibus' need for additional near-term funding to finance its activities and challenges in obtaining additional capital on acceptable terms, or at all; changes in expected or existing competition; challenges to Cibus' intellectual property protection and unexpected costs associated with defending intellectual property rights; increased or unanticipated time and resources required for Cibus' platform or trait product development efforts; Cibus' reliance on third parties in connection with its development activities, including reliance on partner-funding and/or support for the advancement of its Sustainable Ingredients program; challenges associated with Cibus' ability to effectively license its productivity traits and sustainable ingredient products; the risk that farmers do not recognize the value in germplasm containing Cibus' traits or that farmers and processors fail to work effectively with crops containing Cibus' traits; delays or disruptions in the Company's platform or trait product development efforts, particularly insofar as they affect the Company's strategic priority programs; challenges that arise in respect of Cibus' production of high-quality plants and seeds cost effectively on a large scale; Cibus' dependence on distributions from Cibus Global, LLC to pay taxes and cover its corporate and overhead expenses; regulatory developments that disfavor or impose significant burdens on gene editing processes or products; Cibus' ability to achieve commercial success or to effectively negotiate commercial agreements; commodity prices and other market risks facing the agricultural sector; technological developments that could render Cibus' technologies obsolete; changes in macroeconomic and market conditions, including inflation, supply chain constraints, and rising interest rates; dislocations in the capital markets and challenges in accessing liquidity and the impact of such liquidity challenges on Cibus' ability to execute on its business plan; the Company's assessment of the period of time through which its financial resources will be adequate to support operations; and other important factors discussed in the "Risk Factors" section of Cibus' Annual Report on Form 10-K, filed with the Securities and Exchange Commission (the "SEC") on March 17, 2026, as may be updated from time-to-time in Cibus' subsequently filed Quarterly Reports on Form 10-Q or Current Reports on Form 8-K. Should one or more of these risks or uncertainties occur, or should underlying assumptions prove incorrect, actual results and plans could differ materially from those expressed in any forward-looking statements. In addition, the forward-looking statements included in this press release represent Cibus' views as of the date hereof. Cibus specifically disclaims any obligation to update such forward-looking statements in the future, except as required under applicable law. These forward-looking statements should not be relied upon as representing Cibus' views as of any date subsequent to the date hereof. CIBUS CONTACTS: INVESTOR RELATIONSJeff [email protected] RELATIONSColin [email protected]

Alico (ALCO) came out with quarterly earnings of $0.29 per share, beating the Zacks Consensus Estimate of a loss of $0.73 per share. This compares to a loss of $2.39 per share a year ago. These figures are adjusted for non-recurring items. This quarterly report represents an earnings surprise of +139.73%. A quarter ago, it was expected that this agribusiness and land management company would post earnings of $0.97 per share when it actually produced earnings of $1.49, delivering a surprise of +53.61%. Over the last four quarters, the company has surpassed consensus EPS estimates two times. Alico, which belongs to the Zacks Agriculture - Operations industry, posted revenues of $9.04 million for the quarter ended June 2026, surpassing the Zacks Consensus Estimate by 247.69%. This compares to year-ago revenues of $8.39 million. The company has topped consensus revenue estimates three times over the last four quarters. The sustainability of the stock's immediate price movement based on the recently-released numbers and future earnings expectations will mostly depend on management's commentary on the earnings call. Alico shares have added about 5% since the beginning of the year versus the S&P 500's gain of 13.3%. While Alico has underperformed the market so far this year, the question that comes to investors' minds is: what's next for the stock? There are no easy answers to this key question, but one reliable measure that can help investors address this is the company's earnings outlook. Not only does this include current consensus earnings expectations for the coming quarter(s), but also how these expectations have changed lately. Empirical research shows a strong correlation between near-term stock movements and trends in earnings estimate revisions. Investors can track such revisions by themselves or rely on a tried-and-tested rating tool like the Zacks Rank, which has an impressive track record of harnessing the power of earnings estimate revisions. Ahead of this earnings release, the estimate revisions trend for Alico was mixed. While the magnitude and direction of estimate revisions could change following the company's just-released earnings report, the current status translates into a Zacks Rank #3 (Hold) for the stock. So, the shares are expected to perform in line with the market in the near future. You can see the complete list of today's Zacks #1 Rank (Strong Buy) stocks here. It will be interesting to see how estimates for the coming quarters and the current fiscal year change in the days ahead. The current consensus EPS estimate is -$0.73 on $1.3 million in revenues for the coming quarter and -$0.43 on $11.1 million in revenues for the current fiscal year. Investors should be mindful of the fact that the outlook for the industry can have a material impact on the performance of the stock as well. In terms of the Zacks Industry Rank, Agriculture - Operations is currently in the top 36% of the 250 plus Zacks industries. Our research shows that the top 50% of the Zacks-ranked industries outperform the bottom 50% by a factor of more than 2 to 1. Another stock from the same industry, Cibus (CBUS), has yet to report results for the quarter ended June 2026. The results are expected to be released on August 13. This developer and licensor of plant traits for seed companies is expected to post quarterly loss of $0.26 per share in its upcoming report, which represents a year-over-year change of +57.4%. The consensus EPS estimate for the quarter has been revised 18.6% higher over the last 30 days to the current level. Cibus' revenues are expected to be $1.41 million, up 51.6% from the year-ago quarter. Want the latest recommendations from Zacks Investment Research? Today, you can download 7 Best Stocks for the Next 30 Days. Click to get this free report Alico, Inc. (ALCO) : Free Stock Analysis Report Cibus, Inc. (CBUS) : Free Stock Analysis Report This article originally published on Zacks Investment Research (zacks.com). Zacks Investment Research

Interested in Cibus, Inc.? Here are five stocks we like better. Cibus said it is moving closer to commercialization in its rice and sustainable ingredients businesses, with management framing 2026 as an “execution” year focused on converting partnerships and product development into revenue. The rice program remains on track for a 2027 Latin American launch, led by progress with partner Interoc, while the U.S. launch timeline has slipped to 2029 because of a key herbicide registration step. Cost cuts and recent capital raises improved liquidity: Cibus ended Q1 with $30.3 million in cash and expects funding to last into late Q1 2027, while quarterly R&D and SG&A expenses both declined sharply year over year. Cibus (NASDAQ:CBUS) reported first-quarter 2026 results and said it is advancing toward commercialization across its rice and sustainable ingredients programs, while also reducing expenses and extending its cash runway into late in the first quarter of 2027. Peter Beetham, Cibus’ co-founder, interim chief executive officer, president and chief operating officer, characterized the quarter as one focused on “execution,” citing approximately $37 million in gross proceeds raised through two public offerings and progress in moving edited materials to customers. → Rocket Lab Just Hit a New All-Time High—Time to Buy or Let It Breathe? “We have immediately put that capital to work, advancing our commercial objectives for our priority programs,” Beetham said. He said 2025 was focused on building a foundation through seed company customer sign-ups, material transfer agreements and pre-commercial pilot runs, while 2026 is centered on converting the pipeline into revenue-generating opportunities. Cibus said it remains on track for an initial Latin American commercial launch of its herbicide-tolerant rice traits in 2027. Beetham said the company has seven active rice seed company customer relationships across Latin America and the United States and is in discussions with additional seed companies in markets including Brazil and Argentina. He also said the company continues to explore opportunities in India with support from RTDC and AgBio. → Micron Investors Face a High-Stakes Moment After the Latest Rally Beetham said Latin America represents the primary near-term opportunity for the rice business and the bulk of what the company has described as a $200 million annual addressable royalty opportunity across the Americas, with 5 million to 7 million peak addressable acres. The company highlighted progress with Interoc, one of its lead Latin American seed partners. In January, Cibus executed a non-binding letter of intent with Interoc that established a framework for commercializing co-developed herbicide-tolerant rice traits across key Latin American markets. In March, Interoc received an additional import permit allowing the transfer of material bearing Cibus’ HT traits. In May, Cibus delivered completed gene-edited materials in Interoc’s elite rice germplasm. → How Bad Could Tesla’s Cybertruck Recall Be for Shares? Beetham said that transfer allows Interoc to begin production steps needed for commercialization. In response to an analyst question, he said the next 18 months are expected to include milestones related to registered seed and certified seed, leading to a launch in 2027. In the United States, Cibus said its estimated rice launch has shifted from 2028 to 2029. Beetham attributed the change to the registration process for use of Orbar’s clethodim herbicide in rice, calling it a key gating item for the U.S. launch. He emphasized that the U.S. opportunity is smaller in acreage than Latin America, though higher in dollars per acre, and said the U.S. registration timeline does not constrain other platform initiatives. Cibus also provided updates on its sustainable ingredients portfolio, including biofragrances and crop-based lauric oils. Beetham said the company received its first customer payment in the fourth quarter and continued receiving customer payments in the first quarter, supporting what he described as a commercial ramp-up phase. He said current discussions with the company’s consumer packaged goods partner include scale-up schedules, production volumes, pricing terms and final product formulations. Cibus expects additional scale-up orders for its initial biofragrances in the second half of 2026, while development of additional fragrance products is underway using the same yeast platform. Beetham said the global fragrance market is estimated at more than $65 billion and that, when fully commercialized, Cibus believes its natural biofragrances partnerships could represent a $20 million to $40 million annual royalty opportunity. He said the initial biofragrances royalties may serve as a near-term revenue bridge as the rice royalty stream builds toward the planned 2027 Latin American launch. During the question-and-answer session, Matthew Venezia of Alliance Global Partners asked about an amendment to the company’s sustainable ingredients contract. Beetham said the amendment relates to soybean lauric oils, not biofragrances, and reflects expanded activity in that program. Carlo Broos, Cibus’ interim chief financial officer, said additional work in the prior quarter was recognized by the partner, leading to a catch-up payment and increased revenue. Greg Gocal, Cibus’ co-founder, chief scientific officer and executive vice president, said scientific progress is supporting the company’s commercialization efforts. In rice, he said the company achieved an order-of-magnitude improvement in editing efficiency in the prior fiscal year through optimization across reagents, cell culture conditions, delivery mechanics and regeneration. Gocal said Cibus is also using artificial intelligence and machine learning to accelerate target identification and improve predicted edit outcomes, while semi-automated workflows and robotic assistance have increased throughput. Gocal highlighted several opportunity pipeline programs: Nutrient use efficiency: Cibus is collaborating with the John Innes Centre on traits intended to improve nitrogen uptake, with potential applications in rice, wheat and canola. Canola: Work is underway in a Defra-funded consortium under the U.K. Farming Innovation Programme to develop durable resistance to light leaf spot disease in oilseed rape. Cibus also plans to plant pod shatter reduction work in the U.K. this fall under the Precision Bred Organisms framework. Wheat: Cibus previously regenerated plants from single cells in a wheat cultivar, which Gocal said opens the way for the company’s RTDS editing capability in the crop. Soybean: The company continues work following a successful edit for the HT2 trait and is advancing soybean platform development in conjunction with the sustainable ingredients program. Beetham said the regulatory environment continues to be favorable for precision breeding. He cited progress in the European Union on New Genomic Techniques legislation, determinations in Ecuador and Peru that Cibus’ HT1 and HT3 rice traits are equivalent to those developed through conventional breeding, and 17 positive USDA APHIS determinations in the United States. “Regulatory harmonization across these jurisdictions is not just a policy headline,” Beetham said. “It is what is driving the commercial conversations we are having right now with seed companies across three continents.” Cibus ended the quarter with $30.3 million in cash and cash equivalents as of March 31, 2026. Broos said the company raised $22.3 million in gross proceeds in January and approximately $15 million in gross proceeds in March. Including those proceeds and cost-saving initiatives, Cibus expects its cash and equivalents to fund planned operating expenses and capital expenditures into late in the first quarter of 2027. Research and development expense was $8.7 million, down from $11.8 million a year earlier. Selling, general and administrative expense was $5.1 million, down from $9.9 million in the year-ago period. Broos said the SG&A decline was due in part to a $3 million litigation expense in the first quarter of 2025, as well as cost reductions. Net loss was $21.2 million, compared with $49.4 million a year earlier. Net loss per Class A common share was $0.33, compared with $1.34 in the prior-year period. Broos said the year-over-year improvement was driven primarily by a non-cash goodwill impairment in the prior year, cost-reduction initiatives and an increase in weighted average shares outstanding. Broos said Cibus remains on target to deliver annual net cash usage of approximately $30 million or less in 2026. In response to a question about burn rate, he said the company expects burn to decline from the first quarter to the second quarter and to be closer to its target in the third and fourth quarters. Beetham closed the call by reiterating that 2026 is focused on execution, including advancing toward a definitive agreement with Interoc, expanding sustainable ingredients partnerships, pursuing regulatory progress and maintaining cost discipline. Cibus, Inc is a biotechnology company specializing in precision gene editing for agricultural applications. Leveraging its proprietary Rapid Trait Development System (RTDS), Cibus develops improved crop traits without the introduction of foreign DNA. The company's platform enables targeted modifications to plant genomes, allowing for enhanced disease resistance, herbicide tolerance and yield optimization in key row crops. The company's core business centers on trait development services and licensing partnerships. This instant news alert was generated by narrative science technology and financial data from MarketBeat in order to provide readers with the fastest reporting and unbiased coverage. Please send any questions or comments about this story to [email protected]. The article "Cibus Q1 Earnings Call Highlights" was originally published by MarketBeat. View MarketBeat's top stocks for May 2026.