Cibus, Inc. Reports 63% Revenue Growth to $1.68 Million in Q1 2026, Faces $21.22 Million Net Loss

Cibus, Inc. reported a significant increase in revenue for the first quarter of 2026, generating $1.68 million, a 63% rise from $1.03 million in the same period last year. This growth was primarily attributed to collaboration agreements related to sustainable ingredients. Despite the revenue increase, the company continued to face substantial losses, with a net loss of $21.22 million for the quarter, a notable improvement from the $49.39 million loss reported in the first quarter of 2025. The reduction in losses was driven by decreased operating expenses, particularly in research and development and selling, general, and administrative costs.

Cibus has made strategic moves to streamline operations, including a workforce reduction of 15 employees, which incurred a one-time cash expense of approximately $0.4 million. The company’s total operating expenses for the quarter were $13.8 million, down from $42.6 million a year earlier, largely due to the absence of goodwill impairment charges that had previously impacted financial results. The company’s accumulated deficit now stands at $879.5 million, reflecting ongoing challenges in achieving profitability.

Operationally, Cibus is advancing its Rice herbicide tolerance (HT) program, with plans for a targeted launch in Latin America in 2027, followed by expansion into the U.S. in 2029. The delay in the U.S. launch is due to regulatory processes related to its chemistry partner, Albaugh. Additionally, the company has amended its contract with a partner in sustainable ingredients to facilitate further research and development activities. As of March 31, 2026, Cibus had $30.3 million in cash and cash equivalents, which it expects to utilize to fund operations into late 2026.

Looking ahead, Cibus anticipates continued losses as it develops its pipeline of productivity traits. The company is focused on reducing annual cash usage to approximately $30 million or less in 2026 through cost-saving initiatives. However, it acknowledges the need for additional capital to support its operations and growth plans. The company is exploring various financing options, including public or private equity and debt financing, to ensure it can continue its operations and meet its financial obligations. The outlook remains cautious, with substantial doubt about the company's ability to continue as a going concern if it cannot secure necessary funding.