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…
Earnings analysis · 10-Q
CBUS earnings analysis
Filed August 13, 2026 · Our reading of the company's report
The latest report
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…
Read full summary
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.
Reported figures
- Earnings per share
- $-0.29
What stood out
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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%.
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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.
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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.
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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.
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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.
What to watch
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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.
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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.
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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.
Management's outlook
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.
Earlier filings 1
This is our reading of a public filing, not the filing itself. Analysis can contain errors; check the source document for full context.