CBUS earnings analysis
What we found in CBUS's 10-Q: the parts that mattered, the offsets in the same document, and what the company said about what comes next.
Our reading of the filing · Free to read, no account needed
Cibus reported Q2 revenue of $994,000 and a diluted EPS loss of $0.29, with revenue down approximately 50.3% sequentially and 39.6% below consensus. EPS improved year over year from a $0.61 loss but missed the estimated $0.20 loss. Cost reductions helped, but the expected 2026 cash-usage run-rate rose to approximately $35 million from $30 million or less, while $20.4 million of cash was expected to fund operations into early Q1 2027. The filing reports no material changes to previously disclosed risk factors.
The parts that mattered.
Pulled out of the filing itself, with the figures the company reported.
- Revenue Missed Estimates
- Q2 revenue was $994,000, up approximately 6.5% from $933,000 in Q2 2025 but down approximately 50.3% from $2 million in Q1 2026. Revenue missed the $1.6452 million consensus estimate by approximately 39.6%.
- EPS Improved Year Over Year
- Diluted EPS was a loss of $0.29, improving from a loss of $0.61 in Q2 2025 but worsening from a loss of $0.33 in Q1 2026. EPS missed the estimated loss of $0.20 by $0.09.
- Operating Cash-Use Outlook Increased
- Management’s 2026 annual net cash-usage run-rate expectation is approximately $35 million, compared with prior guidance of approximately $30 million or less, indicating a $5 million or greater increase versus the prior outlook.
- Operating Costs Declined
- Cost reductions lowered R&D, SG&A and operating cash usage versus the prior year, although the filing’s extracted text does not provide the corresponding dollar amounts.
- Limited Equity-Related Activity
- The company withheld 56,122 Class A shares for net settlement of restricted stock unit vesting during the six months ended June 30, 2026, and made 0 share repurchases during the quarter.
And the other side of it.
The offsets in the same document — the things a summary that only listed the good news would have left out.
- Higher Cash-Usage Outlook
- Expected annual net cash usage increased to approximately $35 million exiting 2026 from prior guidance of approximately $30 million or less, raising the projected funding requirement by at least $5 million.
- Near-Term Liquidity Requirement
- The company had $20.4 million of cash expected to fund planned operations into early Q1 2027, while its projected annual cash-usage run-rate is approximately $35 million, indicating a near-term need for additional funding.
- No Formal Risk-Factor Change
- The filing states there have been no material changes in risk factors from the Annual Report; however, the higher $35 million cash-usage outlook versus $30 million or less increases liquidity and financing risk relative to the prior outlook.
What they reported.
What the company itself reported, taken out of the document.
- Earnings per share
- $-0.29
What they said about what is next.
Management expects an annual net cash-usage run-rate of approximately $35 million exiting 2026, increased from prior guidance of approximately $30 million or less. No quantitative revenue or EPS guidance was provided.
The filing reads worse than the one before it.
What came before.
- 10-Q · May 14, 2026
- Cibus, Inc. reported Q1 2026 results with a 63% year-over-year revenue increase to $1.681 million, although EPS missed expectations at a loss of $0.33. The company significantly reduced R&D and SG&A expenses, leading to…
This is our reading of a public filing, not the filing. Read the original on SEC.gov · Educational only. Nothing here is investment advice.
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