NATURE OF BUSINESS & SUMMARY OF SIGNIFICANT ACCOUNTING POLICIES (Tables)

3 Months Ended

Mar. 31, 2026

The following table represents the deferred revenue activity for the three months ended March 31, 2026, and 2025:


In Thousands	2026		2025
Balance as of December 31,	$	536	$	932
Unearned revenue from cash received during the period	444		802
Revenue recognized that was included in the balance at the beginning of the period	(531)		(871)
Balance as of March 31,	$	449	$	863

Schedule of Computation of Basic and Diluted Net Loss Per Share of Class A Common Stock

The following table shows the computation of basic and diluted net loss per share of Class A Common Stock for the three months ended March 31, 2026, and 2025:


	Three Months Ended March 31,
In Thousands, Except Share and Per Share Amounts		2026		2025
Numerator:
Net loss attributable to Cibus, Inc. stockholders		$	(21,222)	$	(46,886)
Denominator:
Weighted average shares of Class A common stock outstanding		64,802,244		30,602,692
Effect of pre-funded warrants		400,000		4,450,000
Weighted average shares of Class A common stock outstanding – basic and diluted		65,202,244		35,052,692
Basic and diluted net loss per share of Class A common stock		$	(0.33)	$	(1.34)

Schedule of Antidilutive Securities Excluded from Computation of Loss Per Share

The following potential dilutive securities, presented on an as converted basis, were excluded from the calculation of net loss per share of Class A Common Stock due to their antidilutive effect:


	As of March 31,
	2026	2025
Stock options outstanding	1,434,633	1,152,764
Unvested restricted stock units	1,171,264	1,074,930
Unvested restricted stock awards	62,641	192,288
Common warrants	10,496,523	1,456,523
Total	13,165,061	3,876,505

Schedule of Segment Financial Information Used by CODM to Assess Segment Performance and Make Decisions

Segment financial information, including significant segment expenses, which are regularly provided to the CODM and included in net loss was as follows:


	Three Months Ended March 31,
In Thousands		2026		2025
Revenue		$	1,681	$	1,034
Less:
Personnel expenses		5,788		6,761
Professional fees		1,324		5,423
Stock-based compensation		1,571		2,499
Goodwill impairment		—		20,950

Other segment expenses (1)		5,118		6,972
Total operating expenses		13,801		42,605
Loss from operations		(12,120)		(41,571)
Royalty liability interest expense - related parties		(9,121)		(8,377)
Other interest income, net		28		119
Non-operating (expense) income, net		(2)		439
Income tax expense		(7)		(2)
Total segment loss		$	(21,222)	$	(49,392)

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(1) Other segment expenses are primarily comprised of facilities and asset related expenses such as rent, asset depreciation and amortization, utilities, property taxes, and repairs and maintenance and also include insurance, dues and subscriptions, licenses, lab supplies, product development, and travel.