NASDAQ$CBUS
Cibus Inc · Q2 2024 earnings
Q2 2024 earnings · · Investor relations
Briefing
Reported financial results for the quarter ended June 30, 2024, and provided a business update for the first half of 2024.
Cibus reported its second quarter financial results, highlighting progress in commercial, trait, and platform development, as well as advancements in the regulatory environment for gene editing technologies. The company reported a net loss of $28.5 million, with cash and cash equivalents totaling $30.0 million as of June 30, 2024.
- Secured an agreement for Herbicide Tolerance traits in Rice with FEDEARROZ, marking the fourth customer collaboration.
- Advanced trait development with successful trait edits in Sclerotinia and HT2, and initial editing for Nutrient Use Efficiency in Canola.
- Continued progress in global regulatory landscape, with advances in Canada, the United Kingdom, and a positive vote in the European Union parliament.
- Expanded intellectual property coverage across 10 plant trait and editing families.
Headline financials
Revenue & EPS history
Cibus · Revenue · Quarterly
$838K
Forward guidance
Cibus has several important development and commercial milestone targets for 2024.
Tailwinds
- Continue expansion of the customer base for Cibus’ herbicide tolerance platform in Rice
- Expect first European field trial results for PSR in WOSR in 2024
- Expect field trial results in Canola (Spring Oilseed Rape) in 2024
- Complete editing and expect greenhouse results for a third mode of action for Sclerotinia resistance
- Complete editing and expect greenhouse results for HT2
Headwinds
- Expect Soybean single-cell regeneration platform to be operational and complete initial editing
- Expect to enter into initial development and commercial agreements related to Wheat
- Expect to initiate the first edits toward developing traits for Wheat
- Continue progress to develop sustainable low carbon ingredients or materials for the consumer packaged goods industry that do not negatively impact the environment during production, use, or disposal
- Launch first sustainable ingredient in 2025
Historical earnings impact
How earnings announcements have historically affected this stock's price.
Avg. return before/after earnings
Based on 19 quarterly earnings reports · overlaid with Q2 2024
-1.1%
Avg return
Earnings day
-2.2%
Avg return
5 days after
-12.5%
Avg return
30 days after
37%
13 / 35 earnings
Positive
+23.6%
Q4 2019
Best reaction
-25.1%
Q4 2020
Worst reaction
| Quarter | Report date | Reaction (Day 0) | +5 days | +30 days |
|---|---|---|---|---|
| Q1 2026 | -2.8% | -10.3% | -15.2% | |
| Q4 2025 | -16.7% | -24.7% | -56.8% | |
| Q3 2025 | -0.8% | +1.6% | +28.8% | |
| Q2 2025 | -3.5% | -11.6% | -7.5% | |
| Q1 2025 | -7.8% | -8.1% | -29.4% | |
| Q4 2024 | -6.4% | -9.6% | -23.7% | |
| Q3 2024 | +14.5% | +15.2% | -8.9% | |
| Q2 2024 | -9.2% | +2.7% | -42.4% | |
| Q1 2024 | +2.2% | +9.5% | -37.5% | |
| Q4 2023 | -0.7% | +2.2% | +7.4% | |
| Q3 2023 | +17.0% | +5.0% | -8.8% | |
| Q2 2023 | -9.7% | -13.8% | -19.8% | |
| Q1 2023 | -3.6% | -8.3% | -15.8% | |
| Q4 2022 | +1.6% | -0.7% | -21.5% | |
| Q3 2022 | -1.4% | -7.7% | +22.5% | |
| Q2 2022 | +12.4% | +4.3% | -11.6% | |
| Q1 2022 | -17.3% | -27.4% | -60.0% | |
| Q4 2021 | -2.8% | -21.3% | -20.6% | |
| Q3 2021 | -7.4% | -9.0% | -41.9% | |
| Q2 2021 | +12.0% | +15.1% | +19.9% | |
| Q1 2021 | +4.6% | +3.3% | -17.4% | |
| Q4 2020 | -25.1% | -24.7% | -35.6% | |
| Q3 2020 | -1.4% | -4.0% | -44.3% | |
| Q2 2020 | -6.6% | +0.2% | -8.3% | |
| Q1 2020 | -15.0% | -9.4% | +27.9% | |
| Q4 2019 | +23.6% | +22.7% | -10.1% | |
| Q3 2019 | -9.7% | -10.2% | -16.3% | |
| Q2 2019 | +2.7% | -13.1% | -23.9% | |
| Q1 2019 | -3.5% | -6.7% | -9.3% | |
| Q4 2018 | +8.3% | +20.0% | +34.0% | |
| Q3 2018 | -2.9% | -4.9% | -22.1% | |
| Q2 2018 | -0.7% | -3.1% | -10.8% | |
| Q1 2018 | +1.9% | +22.1% | +28.1% | |
| Q4 2017 | +6.4% | +18.8% | +16.9% | |
| Q3 2017 | +7.8% | +8.2% | -2.2% | |
| Q2 2017 | — | — | — | |
| Q1 2017 | — | — | — | |
| Q4 2016 | — | — | — | |
| Q3 2016 | — | — | — | |
| Q2 2016 | — | — | — | |
| Q1 2016 | — | — | — |
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