The company's financial stability is increasingly compromised, evidenced by a debt-to-equity ratio that spiked to 12.28 in 2025Q4 and a current ratio of 2.37 that masks underlying liquidity constraints.
| Total Current Assets | 33.07M | 12.07M | 16.95M | 35.22M | 4.13M | 15.18M | 39.59M | 63.52M | 95.52M | 57.46M | 5.46M | 25.03M |
| Cash & Short-Term Investments | 30.32M | 9.92M | 14.43M | 32.7M | 3.43M | 13.82M | 29M | 58.61M | 93.79M | 56.66M | 5.03M | 24.69M |
| Cash Only | 30.32M | 9.92M | 14.43M | 32.7M | 3.43M | 13.82M | 17.3M | 58.61M | 93.79M | 56.66M | 5.03M | 24.69M |
| Short-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 11.7M | 0 | 0 | 0 | 0 | 0 |
| Accounts Receivable | 1.8M | 703K | 1.04M | 530K | 0 | 0 | 4.89M | 1.12M | 46K | 167K | 157K | 334K |
| Days Sales Outstanding | 86.5 | 70.51 | 89.15 | 106.47 | - | - | 74.79 | 56.13 | 71.14 | 119.99 | 143.62 | 95.84 |
| Inventory | 0 | 0 | 0 | 0 | 0 | 0 | 1.38M | 2.59M | 1.31M | 0 | 0 | 0 |
| Days Inventory Outstanding | - | - | - | - | - | - | 14.37 | 102.03 | 444.01 | - | - | - |
| Other Current Assets | 941K | 1.44M | 1.47M | 1.99M | 705K | 499K | 393K | 388K | 67K | 138K | 0 | 0 |
| Total Non-Current Assets | 291.13M | 292.98M | 333.12M | 509.19M | 18.29M | 22.01M | 23.74M | 24.58M | 23.27M | 14.71M | 11.16M | 963K |
| Property, Plant & Equipment | 26.57M | 27.86M | 44.69M | 37.46M | 18.13M | 21.73M | 22.86M | 23.21M | 21.85M | 14.35M | 10.99M | 915K |
| Fixed Asset Turnover | 0.13x | 0.13x | 0.10x | 0.05x | 0.01x | 1.20x | 1.04x | 0.31x | 0.01x | 0.04x | 0.04x | 1.39x |
| Goodwill | 232.52M | 232.52M | 253.47M | 434.9M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Intangible Assets | 31.22M | 31.68M | 33.58M | 35.41M | 158K | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Long-Term Investments | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 1.11M | 0 | 0 | 0 |
| Other Non-Current Assets | 824K | 926K | 1.39M | 1.42M | 0 | 282K | 877K | 1.36M | 306K | 357K | 164K | 48K |
| Total Assets | 324.2M | 305.05M | 350.07M | 544.41M | 22.42M | 37.19M | 63.33M | 88.1M | 118.79M | 72.17M | 16.62M | 26M |
| Asset Turnover | 0.01x | 0.01x | 0.01x | 0.00x | 0.01x | 0.70x | 0.38x | 0.08x | 0.00x | 0.01x | 0.02x | 0.05x |
| Asset Growth % | -63.77% | -12.86% | -35.7% | 2328.13% | -39.72% | -41.27% | -28.12% | -25.84% | 64.61% | 334.14% | -36.05% | - |
| Total Current Liabilities | 13.94M | 16.86M | 19.88M | 21.32M | 1.66M | 4.85M | 6.95M | 7.2M | 7M | 4.25M | 2.87M | 1.04M |
| Accounts Payable | 5.41M | 8.07M | 5.96M | 6.13M | 340K | 1.26M | 929K | 1.08M | 818K | 1.02M | 357K | 304K |
| Days Payables Outstanding | 1.94K | 497.31 | - | 5.66K | 80.9 | 16.1 | 9.65 | 42.36 | 276.2 | 677.67 | 651.52 | 147.75 |
| Short-Term Debt | 2.96M | 3.17M | 436K | 833K | 0 | 0 | 0 | 0 | 0 | 1.35M | 0 | 0 |
| Deferred Revenue (Current) | 2.83M | 536K | 932K | 1.21M | 107K | 0 | 0 | 0 | 248K | 43K | 101K | 182K |
| Other Current Liabilities | 2.12M | 5.09M | 5.87M | 5.29M | 403K | 2.71M | 2M | 2.24M | 1.77M | 78K | 2.08M | 0 |
| Current Ratio | 2.37x | 0.72x | 0.85x | 1.65x | 2.49x | 3.13x | 5.70x | 8.83x | 13.64x | 13.51x | 1.91x | 24.16x |
| Quick Ratio | 2.37x | 0.72x | 0.85x | 1.65x | 2.49x | 3.13x | 5.50x | 8.47x | 13.45x | 13.51x | 1.91x | 24.16x |
| Cash Conversion Cycle | -1.85K | - | - | - | - | - | 79.5 | 115.8 | 238.96 | - | - | - |
| Total Non-Current Liabilities | 274.78M | 266.36M | 232.36M | 184.79M | 13.53M | 18.21M | 19.51M | 18.39M | 18.39M | 10.44M | 639K | 702K |
| Long-Term Debt | 244.12M | 235.02M | 226K | 536K | 0 | 0 | 1.52M | 0 | 0 | 0 | 0 | 0 |
| Capital Lease Obligations | 120.48M | 29.78M | 31.22M | 17.14M | 13.45M | 17.51M | 17.88M | 18.24M | 18.23M | 10.15M | 0 | 0 |
| Deferred Tax Liabilities | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | -10.15M | 0 | 0 |
| Other Non-Current Liabilities | 1.58M | 1.56M | 200.91M | 167.12M | 79K | 702K | 113K | 150K | 163K | 0 | 0 | 0 |
| Total Liabilities | 288.72M | 283.22M | 252.24M | 206.12M | 15.19M | 23.06M | 26.45M | 25.59M | 25.39M | 14.69M | 3.5M | 1.74M |
| Total Debt | 276.15M | 267.96M | 36.29M | 24.62M | 13.91M | 17.88M | 19.76M | 18.6M | 18.48M | 10.15M | 0 | 0 |
| Net Debt | 245.83M | 258.04M | 21.85M | -8.08M | 10.48M | 4.05M | 2.46M | -40.01M | -75.31M | -46.52M | -5.03M | -24.69M |
| Debt / Equity | 7.78x | 12.28x | 0.37x | 0.07x | 1.92x | 1.26x | 0.54x | 0.30x | 0.20x | 0.18x | - | - |
| Debt / EBITDA | -5.16x | - | - | - | - | - | - | - | - | - | - | - |
| Net Debt / EBITDA | -4.60x | - | - | - | - | - | - | - | - | - | - | - |
| Interest Coverage | -3.77x | -2.73x | -7.27x | -16.87x | -192.46x | -19.40x | -30.24x | -25.59x | -21.19x | -25719.00x | -2416.20x | -21.56x |
| Total Equity | 35.48M | 21.83M | 97.83M | 338.29M | 7.23M | 14.13M | 36.88M | 62.51M | 93.4M | 57.48M | 13.12M | 24.26M |
| Equity Growth % | -262.42% | -77.69% | -71.08% | 4577.09% | -48.82% | -61.68% | -41.01% | -33.07% | 62.5% | 338.11% | -45.92% | - |
| Book Value per Share | 0.05 | 0.05 | 4.21 | 32.80 | 0.01 | 0.02 | 0.05 | 0.10 | 0.15 | 0.12 | 0.02 | 0.05 |
| Total Shareholders' Equity | 35.48M | 21.83M | 92.16M | 293.47M | 7.23M | 14.13M | 36.88M | 62.51M | 93.4M | 57.48M | 13.12M | 24.26M |
| Common Stock | 13K | 79K | 9K | 8K | 5K | 4K | 4K | 3K | 3K | 3K | 1K | 1K |
| Retained Earnings | -879.47M | -858.25M | -731.17M | -479.78M | -212.15M | -196.09M | -166.89M | -122.06M | -82.44M | -54.55M | -28.57M | -16.48M |
| Treasury Stock | -2.22M | -2.14M | -2M | -1.78M | -1.04M | -1.04M | -1.04M | -1.04M | -230K | 0 | 0 | 0 |
| Accumulated OCI | 25K | 39K | 15K | 8K | 0 | 0 | 0 | 17K | -2.09M | -1.28M | -732K | -387K |
| Minority Interest | 0 | 0 | 5.67M | 44.82M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
Critical liquidity and dilution
As reported in financial statements, CBUS has seen its equity base contract from $293.5M in 2023Q4 to $35.5M by 2026Q1, a trend that underscores the persistent erosion of shareholder value as the company struggles to convert its gene-editing platform into a self-sustaining commercial enterprise.
The rapid decline in equity, coupled with a massive accumulated deficit of $879.5M, suggests that the company is consuming its capital base at an unsustainable rate. This trajectory indicates that the business model has yet to achieve the necessary scale to offset its high fixed-cost structure, leaving the balance sheet increasingly fragile.
According to recent SEC filings, the company's debt-to-equity ratio surged to 12.28 in 2025Q4, reflecting a precarious reliance on debt financing as the equity cushion thinned significantly, which warrants further investigation into the company's ability to service these obligations without further dilutive capital raises.
The sharp increase in leverage appears to be a necessity-driven response to dwindling cash reserves rather than a strategic choice to optimize capital structure. Investors should monitor whether this debt burden limits future operational flexibility or forces management into unfavorable financing terms to maintain liquidity.
Based on CBUS's reported figures, the current ratio plummeted to 0.72 in 2025Q4, highlighting a severe liquidity crunch where current liabilities significantly exceed available cash, leaving the firm with a dangerously thin buffer against operational shocks or unexpected delays in milestone-based revenue recognition.
The inability to maintain a current ratio above 1.0 suggests that the company is facing immediate pressure to manage its working capital obligations. This liquidity profile implies that the firm may be forced to prioritize short-term survival over long-term R&D investments, potentially stalling its commercialization pipeline.
As indicated by the company's financial disclosures, goodwill remains a substantial portion of total assets at $232.5M, which may be misleading given the company's persistent operating losses and the potential for future impairment charges if the anticipated commercial value of acquired traits fails to materialize.
The concentration of goodwill on the balance sheet suggests that a significant portion of asset value is tied to intangible expectations rather than tangible economic output. If the company's trait-crop pairs do not achieve expected market adoption, these assets may face significant write-downs, further impairing the already strained equity position.
Quick answers to the most common questions about buying CBUS stock.
As of 2025, Cibus, Inc. (CBUS) had total assets of $305.0M including $12.1M in current assets.
Cibus, Inc. (CBUS) carries total debt of $268.0M, offset by $9.9M in cash and short-term investments. Comparing total debt to cash helps evaluate the company's debt burden and net leverage.
Cibus, Inc. (CBUS) has total shareholders' equity (book value) of $21.8M ($0.05 book value per share). Book value represents the net worth of the company belonging to common stock holders.
Cibus, Inc. (CBUS) reported a current ratio of 0.72x. A current ratio above 1.0x indicates that the company has more current assets than current liabilities, suggesting sufficient short-term liquidity.