Q2 2026 Cibus Inc Earnings Call Transcript
Key Points
- Revenue increased 35% year-to-date, driven by sustainable ingredients platform programs.
- Cash usage declined 19% sequentially and 31% year-over-year, reflecting improved cost discipline.
- Expanded partnership with Interoc from two to five rice traits, deepening the relationship toward a trait pipeline model.
- Regulatory progress: EU rules treat gene-edited crops as conventional, and FDA cleared altered lignan alfalfa trait.
- Platform scalability demonstrated across eight crops, with potential for multi-crop trait applications like nutrient use efficiency.
- Cash runway only extends into early Q1 2027, requiring potential financing.
- Rice royalty launch delayed from late 2027 to 2028, pushing revenue generation further out.
- Net loss of $22.1 million in Q2, with significant non-cash royalty liability interest expense of $9.5 million.
- Sustainable ingredients revenue remains small at $1 million quarterly, with scale-up orders not yet placed.
- Increased net cash usage target of $35 million for 2026, up from prior expectations, due to technology and personnel investments.
Good afternoon, and welcome to the Cibus second quarter 2026 earnings call. (Operator Instructions) Please also note, today's event is being recorded.
At this time, I would like to turn the conference call over to Carlo Broos, Interim Chief Financial Officer. Sir, please go ahead.
Thank you, and good afternoon. I would like to thank you for taking the time to join us for Cibus' second-quarter 2026 financial results and business update conference call and Webcast. Presenting with me today is Craig Wichner, our Chief Executive Officer; and Peter Beetham, Co-Founder, President and Chief Operating Officer; Greg Gocal, Chief Scientific Officer, is available to participate during the Q&A portion of the call.
Before we begin the call, I'd like to remind everyone that statements made on the webcast, including those regarding future financial results and future operational goals and industry prospects, are forward-looking and may be subject to a number of risks and uncertainties that could cause
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