One-glance verdict
Not enough data
Fair value unavailable
Not enough cash-flow history to value this one with our method.
Fundamentals snapshot
Cibus, Inc.
CBUS · NCM · Healthcare · Biotechnology
Current price
$1.45
52-week range
$1.09 - $4.19
Market cap
$110.44M
Balance sheet
Distressed
-1.90x Concerning
Net debt $265.83M. Interest coverage shows how many times profit covers the interest bill.
What stands out
1 Reward
2 Risks
1 rewards · 2 risks
- Reward Revenue grew 19.5% last year.
- Risk Return on equity was -223.2% last year — the company lost money on shareholders' equity.
- Risk Net debt grew 120.5% over 3 years.
What this company does
Cibus, Inc.
Cibus is a company that uses technology called gene-editing to create improved plant traits, helping farmers increase their crop yields (the amount of food grown per acre) and use fewer chemicals. It makes money by licensing (renting out its discoveries) these special plant traits to other companies that produce and sell seeds. This work is important because it could help make farming more sustainable and productive to feed a growing world.
How the company got here
Cibus was founded in 2001 and spent over two decades developing its specialized technology for editing the genes of plants. [1, 6] For most of its history, it was a private company focused on research. In June 2023, it became a publicly traded company through a reverse merger (a way for a private company to go public by merging with an already-public one) with a company called Calyxt. [5, 9, 27] The newly combined firm was named Cibus, Inc. and began trading on the stock market, bringing together two pioneers in the agricultural technology field. [27, 28]
What it actually does
Cibus is an agricultural technology company that acts like a high-tech software developer for seeds. It uses a patented technology called the Trait Machine™ to make precise edits to a plant's own DNA, without adding foreign genes. [1, 9, 14] This process, known as gene editing, creates new traits (specific characteristics) that help farmers, such as making a crop resistant to a disease or able to withstand weed killers. [5, 12] The goal is to help farmers grow more food with lower costs and less chemical use, and because it doesn't involve introducing foreign DNA, its products are often not regulated in the same way as traditional GMOs (Genetically Modified Organisms). [2, 4, 17]
Trait Licensing
Cibus has one primary way of making money: it invents valuable plant traits and then licenses them to major seed companies. [4, 9] Think of it like a technology company that develops a key feature for a smartphone and then allows different phone makers to use it in their products for a fee. Seed companies pay Cibus royalties (a percentage of sales) to use its traits, like disease resistance or herbicide tolerance, in their own brands of seeds that they sell to farmers. [4, 5] This means Cibus focuses purely on the technology and doesn't sell seeds directly to farmers itself, which is a business model that aims for high growth by partnering with established global players. [3, 14]
What management is betting on now
The company's leadership is currently focused on getting its most developed traits out into the market to start generating revenue. [7] Their main strategic priority is launching traits for canola that reduce seed loss before harvest and traits for both canola and rice that make the crops tolerant to certain herbicides (weed killers). [18, 20] Management is also pushing to advance its technology platform for soybeans and develop traits that provide disease resistance. [7] Instead of trying to compete with giant seed companies, their entire strategy is built on partnering with them, licensing the technology, and collecting royalties as the improved seeds are sold to farmers around the world. [5, 6]
Price history
How the share price has moved
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Loading price history…
Earnings history
Last 8 quarters — what happened
Click any quarter to read the call summary and what the numbers say.
FY2024 Q3
$-13.88M
FY2024 Q4
$-14.05M
FY2025 Q1
$-12.12M
FY2025 Q2
$-13.70M
FY2025 Q3
$-11.85M
FY2025 Q4
$-13.51M
FY2026 Q1
$-11.60M
FY2026 Q2
$-9.45M
Revenue
$994.00K
Net income
$-22.14M
Diluted EPS
-0.29
Operating cash flow
$-9.41M
Free cash flow
$-9.45M
Fetching…
Sources
Revenue
$1.68M
Net income
$-21.22M
Diluted EPS
-0.33
Operating cash flow
$-11.49M
Free cash flow
$-11.60M
Fetching…
Sources
Revenue
$1.06M
Net income
$-31.29M
Diluted EPS
-0.39
Operating cash flow
$-13.42M
Free cash flow
$-13.51M
Fetching…
Sources
Revenue
$615.00K
Net income
$-23.54M
Diluted EPS
-0.44
Operating cash flow
$-11.74M
Free cash flow
$-11.85M
Fetching…
Sources
Revenue
$933.00K
Net income
$-25.37M
Diluted EPS
-0.61
Operating cash flow
$-13.60M
Free cash flow
$-13.70M
Fetching…
Sources
Revenue
$1.03M
Net income
$-46.89M
Diluted EPS
-1.34
Operating cash flow
$-11.83M
Free cash flow
$-12.12M
Fetching…
Sources
Revenue
$1.21M
Net income
$-23.10M
Diluted EPS
-0.94
Operating cash flow
$-13.99M
Free cash flow
$-14.05M
Fetching…
Sources
Revenue
$1.67M
Net income
$-179.97M
Diluted EPS
-7.63
Operating cash flow
$-13.52M
Free cash flow
$-13.88M
Fetching…
Sources
Is it cheap or expensive?
Fair value — vs current price $1.45
We couldn't calculate a fair value right now.
Is it drowning in debt?
Distressed
Net debt $265.8M. Interest coverage -1.9x.
Net debt
$265.83M
Interest coverage
-1.90x
Cibus, Inc.'s profit covers its interest bill about 0.0 times over. which is weaker than most peers shown here and 3 peers sit below 1x, which is the danger zone where profit does not fully cover the interest bill.
Distressed
Worse cushion
Baseline
Better cushion
CBUS
BASELINE
Cibus, Inc.
Total debt $286.26M Interest coverage -1.90x This is the baseline the peer rows are being compared against.
Total debt $2.10M Interest coverage -89.39x Neither company has much profit cushion over interest right now.
Total debt $0.00 Interest coverage -499.75x Neither company has much profit cushion over interest right now.
Total debt $1.75M Interest coverage -7.85x Neither company has much profit cushion over interest right now.
What you should know
The case for and against CBUS
1 Reward
2 Risks
Rewards
-
Revenue grew 19.5% last year.
Risks
-
Return on equity was -223.2% last year — the company lost money on shareholders' equity.
-
Net debt grew 120.5% over 3 years.
The numbers
All the key metrics, grouped by purpose
Tap any ? icon to learn what it means.
Valuation
How expensive the stock looks
P/E (TTM)
—
Forward P/E
-2.28x
P/B
7.45x
P/S
25.41x
EV/EBITDA
-7.77x
PEG ratio
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Profitability
How much profit each dollar creates
Gross margin
100.0%
Operating margin
-1,300.3%
Net margin
0.0%
ROE
-223.2%
ROA
-10.2%
Health
Liquidity and balance-sheet strength
Debt / equity
19.34x
Current ratio
1.62x
Quick ratio
1.49x
Total debt
$286.26M
Total cash
$20.43M
Growth
How the business has been compounding
Revenue TTM
$4.35M
Revenue 5Y CAGR
-38.8%
EPS TTM
-1.51
EPS 5Y CAGR
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Cash flow
How much cash the business throws off
Operating CF TTM
$-46.05M
Free CF TTM
$-51.17M
FCF margin
-1,177.1%
Dividend
Shareholder payout
Yield
—
Payout ratio
0.0%
Last ex-div date
—