Cibus Reports 11% Revenue Growth in Q2 2025, Faces $26.6 Million Net Loss

Cibus, Inc. reported its financial results for the second quarter and first half of 2025, revealing a revenue increase of 11% year-over-year for the quarter, totaling $933,000, and a 42% increase for the first half, reaching $1.97 million. The growth in revenue was attributed to collaboration agreements related to contract research for Rice and sustainable ingredients. However, the company continues to face significant losses, with a net loss of $26.6 million for the quarter and $76 million for the first half, compared to $28.5 million and $55.5 million in the respective periods of 2024.

Operating expenses for the second quarter decreased to $18.9 million from $22.3 million a year earlier, primarily due to cost reduction initiatives. Research and development expenses fell by 6% to $12.2 million, while selling, general, and administrative expenses decreased by 29% to $6.7 million. Despite these reductions, the company recorded a goodwill impairment of $21 million in the first half of 2025, reflecting a decline in its stock price and resulting in a total accumulated deficit of $803.4 million as of June 30, 2025.

Cibus has undertaken strategic initiatives to streamline operations, including a workforce reduction announced in July 2025, which is expected to incur approximately $0.5 million in one-time charges. The company aims to reduce its annual cash burn to approximately $30 million by 2026, focusing on the commercial advancement of its Rice herbicide tolerance traits, which it estimates could generate over $200 million in annual royalties upon full commercialization.

The company’s cash and cash equivalents stood at $36.5 million as of June 30, 2025, with current liabilities of $22.4 million. Cibus anticipates that it will continue to incur losses for the foreseeable future and will need to raise additional capital to support its operations. The company has not issued any shares from its ATM facility during the first half of 2025 but raised approximately $21.4 million from a registered direct offering in January and $25 million from a public offering in June.

Looking ahead, Cibus is focused on advancing its gene editing technologies and expanding its product offerings. The company has made significant progress in regulatory approvals for its gene-edited traits, which it believes will enhance its market position. However, the ongoing need for additional funding and the potential for further operational adjustments remain critical factors in its business outlook.