Cibus Global LLC

Cibus updated its Latin America rice launch timing to 2028 while outlining a potential $20 million to $40 million annual revenue opportunity from biofragrance partnerships. CEO Craig Wichner, on his first earnings call, emphasized scaling revenue and capital discipline, while CFO Carlo Broos reported cash and equivalents of $20.4 million as of June 30, 2026, sufficient into early Q1 2027. Q2 revenue was $1 million, with six-month revenue up 35% to $2.7 million, and net loss was $22.1 million, or $0.29 per share. Management expects royalties to start flowing in 2028 and build through 2029, and reiterated expectations for additional biofragrance scale-up orders in the second half of 2026.

Cibus Inc. is advancing toward a 2027 Latin American launch of its gene-edited herbicide-tolerant rice, marking the first royalty-validation pathway for its precision-breeding platform. The company transferred gene-edited HT1 and HT3 rice material in elite germplasm to partner Interoc in May 2026, following a commercialization framework and import permit, with Ecuador and Colombia as initial target markets. Management estimates the Americas rice herbicide tolerance opportunity at over $200 million in peak annual addressable royalties across 5 million to 7 million peak acres, while the broader disclosed trait portfolio across rice, canola, and soybean represents roughly 367 to 369 million peak addressable acres and more than $1.9 billion in potential annual addressable royalties. A second commercial lane is emerging through Sustainable Ingredients, where Cibus received its first customer payment in the fourth quarter of 2025 and is targeting additional BioFragrance scale-up orders in the second half of 2026, with fully commercialized partnerships representing a targeted $20 million to $40 million annual royalty opportunity. New CEO Craig Wichner, appointed in June 2026, is focused on converting near-term milestones into revenue while targeting annual net cash usage of approximately $30 million or less in 2026, supported by facility consolidation and recent equity raises totaling $37.3 million in gross proceeds. Consensus estimates project revenue rising from $3.6 million in 2025 to $42.1 million by 2028, though execution risk remains around partner conversion, regulatory approvals, and farmer adoption.

Cibus welcomed a landmark European Union decision on June 17, 2026, under which crops improved without adding foreign DNA will be treated like conventionally bred crops rather than transgenic GMOs. The new rules distinguish between transgenic GMOs and the precise, non-transgenic improvements Cibus makes to a plant's own genes, opening a path for European farmers to grow cleaner crops more productively with fewer chemicals. President and COO Peter Beetham said the EU completed a science-based review and recognized that crops with changes that could occur in nature or through traditional breeding should be regulated accordingly. Cibus also announced leadership changes on June 9, appointing board member Craig Wichner as CEO, while Beetham continues as President and COO.