Cibus | 10-Q: FY2025 Q3 Revenue Misses Estimate at USD 615 K

Revenue: As of FY2025 Q3, the actual value is USD 615 K, missing the estimate of USD 1.391 M.

EPS: As of FY2025 Q3, the actual value is USD -0.44, missing the estimate of USD -0.3333.

EBIT: As of FY2025 Q3, the actual value is USD -6.566 M.

Segment Revenue

• Revenue: $615,000 for the three months ended September 30, 2025, compared to $1,667,000 for the same period in 2024, representing a decrease of 63%.

Operational Metrics

• Net Loss: $24,303,000 for the three months ended September 30, 2025, compared to $201,459,000 for the same period in 2024, representing an improvement of 88%.
• Research and Development Expense: $10,784,000 for the three months ended September 30, 2025, compared to $12,990,000 for the same period in 2024, a decrease of 17%.
• Selling, General, and Administrative Expense: $5,269,000 for the three months ended September 30, 2025, compared to $7,682,000 for the same period in 2024, a decrease of 31%.
• Goodwill Impairment: No impairment in the third quarter of 2025, compared to $181,432,000 in the same period in 2024.

Cash Flow

• Net Cash Used in Operating Activities: $37,171,000 for the nine months ended September 30, 2025, compared to $44,048,000 for the same period in 2024, a decrease of 16%.
• Net Cash Used in Investing Activities: $492,000 for the nine months ended September 30, 2025, compared to $752,000 for the same period in 2024, a decrease of 35%.
• Net Cash Provided by Financing Activities: $47,106,000 for the nine months ended September 30, 2025, compared to $40,904,000 for the same period in 2024, an increase of 15%.

Unique Metrics

• Royalty Liability Interest Expense - Related Parties: $9,030,000 for the three months ended September 30, 2025, compared to $8,875,000 for the same period in 2024, an increase of 2%.

Future Outlook and Strategy

• Core Business Focus: Cibus plans to streamline its operations to focus on the commercial advancement of its weed management traits for Rice, with an expected reduction in annual net cash usage to approximately $30 million by 2026.
• Non-Core Business: The company will continue to advance its bio-based fermentation biofragrance products program and its crop-based sustainable ingredients work, which are currently partially funded by a consumer-packaged goods partner.