CIBUS INC earnings calls

Trait strategy and hybrid rice acres

Q (Matthew Venezia · AGP Alliance Global Partners): He asked whether Cibus will focus on making traits for specific seed companies instead of licensing to big agricultural firms and what the economics and moat are. He also asked how prevalent hybrid rice is in Latin America and how many acres they model for geographies they plan to enter in 2028.

A: Management said they will continue to provide technology across the industry but also focus on giving key partners a competitive advantage by crop and geography, using partners like Interoc in rice to deploy a pipeline of traits. They said hybrids are growing in rice and they model growth acreage of 5 to 7 million acres as hybrids penetrate the market.

"So you know, when we model acres, we see the growth acreage in that 5 to 7 million acres coming forward with hybrids penetrating that marketplace." — Peter Beetham (COO)

EU implementation and local presence

Q (Sameer Joshi · H. C. Wainwright): He asked about the 2-year EU implementation period and whether Cibus has people on the ground to influence the process and be ready when rules change.

A: Management said the company has followed EU legislation for many years and worked with industry groups and advocacy organizations. They said they have already had interactions since the vote, given presentations in Brussels, and will continue engagement with DG SANTE during implementation.

"As you know, we have as a company, we have been following the EU legislation for many years and very closely." — Peter Beetham (COO)

Call interruption and reconnection

Q: The caller asked where the call dropped off and requested help understanding the reconnection point.

A: There was no management answer in this exchange because the call experienced repeated technical difficulties and the operator announced reconnection. The queue and discussion resumed after the interruption.

EU presence and partnerships

Q (Sameer Joshi · H. C. Wainwright): He asked the team to continue explaining their progress and positioning in European countries and how they are prepared there.

A: Management said they have people on the ground and clear input from an experienced European team. Cornelis confirmed a handful of business development staff in Europe who have worked for seed companies for decades, and Craig added they already have partnerships (for example John Innes), a footprint, and experienced board members, which positions them well for the regulatory changes.

"I want to confirm, and I think important to realize that we have a handful of people working in Europe, business development people, and all of them have worked for the seed companies in Europe for decades." — Cornelis Broos (CFO)

Cash burn and spending changes

Q (Sameer Joshi · H. C. Wainwright): He asked why projected cash usage rose from under $30 million to around $35 million and wanted a qualitative description of the changes.

A: Management said cash usage is improving versus prior periods but that they now plan for approximately $9 million cash usage this quarter and to exit 2026 at approximately $35 million or less net annualized cash usage. They said they continue to cut noncore costs and consolidate facilities to save money, while investing more in technology and people for priority programs and pipeline opportunities; Craig added they are making targeted investments (for example company-wide AI) expected to deliver long-term value.

"As we speak, as we speak, we are moving forward as planned to approximately $9 million cash usage for the quarter." — Cornelis Broos (CFO)