Cibus (CBUS) investor relations material

Executive summary

• CEO transition completed, with a focus on scaling revenue through proprietary, IP-protected platforms and prioritizing programs closest to commercialization, including Rice and Sustainable Ingredients.

• Advanced commercialization in Rice and Sustainable Ingredients, with expanded partnerships and regulatory alignment in the US, EU, and Latin America.

• Commercial progress includes converting industry conversations into ongoing partnerships, with seed companies seeking continuous trait improvements across crops.

• Leadership transition completed with new CEO and continued cost reduction initiatives, targeting $35M annual net cash usage exiting 2026.

• Focused on commercial ramp-up of biofragrance products and partner-funded lauric oils program in soybean.

Financial highlights

• Q2 2026 revenue was $1 million, up from $0.9 million year-over-year; six-month revenue rose 36% to $2.7 million, driven by Sustainable Ingredients.

• Net loss for Q2 2026 was $22.1 million, improved from $26.6 million year-over-year; net loss per share was $0.29, down from $0.61.

• R&D expenses dropped to $8.5 million from $12.2 million, and SG&A to $5.4 million from $6.6 million, reflecting cost-saving initiatives.

• Cash and equivalents stood at $20.4 million as of June 30, 2026; cash usage declined 19% sequentially and 31% year-over-year.

• Net cash used in operating activities for H1 2026 was $20.9 million, down from $25.4 million year-over-year.

Outlook and guidance

• Existing cash is expected to fund operations into early Q1 2027; annual net cash usage run-rate targeted at ~$35 million exiting 2026.

• Rice royalty revenue expected to begin in 2028, ramping through 2029 as adoption expands; peak annual royalty opportunity exceeds $200 million.

• Sustainable Ingredients program in commercial ramp-up, with additional scale-up orders anticipated in H2 2026.

• Expects continued operating losses for several years as commercial activities scale; additional capital required to support business plans.

• Board evaluating strategic alternatives to support funding needs.