Financial Performance - Revenues from product sales for the nine months ended September 30, 2025, were $68,000, a slight decrease from $69,000 for the same period in 2024[20] - The company reported a gross profit of $49,000 for the nine months ended September 30, 2025, compared to a gross loss of $41,000 for the same period in 2024[20] - The net loss attributable to the company's stockholders' equity for the nine months ended September 30, 2025, was $5,273,000, compared to a net loss of $3,820,000 for the same period in 2024[20] - The company experienced an operating loss of $4,779,000 for the nine months ended September 30, 2025, compared to an operating loss of $3,064,000 for the same period in 2024[20] - The company reported a comprehensive loss of $2,264,000 for the period ending June 30, 2024[26] - The Company reported a net loss of $5,439 for the nine months ended September 30, 2025, compared to a net loss of $3,684 in the same period of 2024[169] - Total expenses for the nine months ended September 30, 2025 were $4,617,000, an increase from $2,806,000 for the same period in 2024[209] Assets and Equity - Total current assets increased to $8,656,000 as of September 30, 2025, compared to $3,404,000 as of December 31, 2024, representing a 154% increase[17] - Total stockholders' equity increased to $8,930,000 as of September 30, 2025, from $4,749,000 as of December 31, 2024, marking an 88% increase[17] - The company reported total assets of $3,196 million as of September 30, 2025, an increase from $2,302 million as of December 31, 2024[76] Cash Flow and Financing - Cash and cash equivalents rose significantly to $6,044,000 as of September 30, 2025, compared to $2,154,000 as of December 31, 2024, indicating a 180% increase[17] - For the nine months ended September 30, 2024, the net cash used in operating activities was $2,311,000, a decrease from $2,927,000 in the same period of the previous year[30] - The company plans to continue securing financing through the sale of additional equity securities or capital inflows from strategic partnerships[48] Research and Development - Research and development expenses increased to $81,000 for the nine months ended September 30, 2025, up from $38,000 in the same period of 2024, reflecting a 113% increase[20] - Research and development expenses for the nine months ended September 30, 2025, totaled $81,000, up from $38,000 in 2024[205] Liabilities - The total liabilities measured at fair value increased to $463 million as of September 30, 2025, compared to $312 million as of December 31, 2024[80] - The company experienced a change in fair value of level 3 liabilities, resulting in an increase of $1,473 million during the period[80] Investments and Acquisitions - The Company completed the acquisition of 100% of MitoCareX on October 20, 2025, with an initial purchase price allocation estimating $4,506 of intangible assets and $5,792 of goodwill[171] - The Company fully impaired its investment in Plantify as of September 30, 2025, due to lack of market data and deterioration in Plantify's financial condition[92] - The Company entered into a loan agreement with MitoCareX for $250, bearing 3% annual interest, maturing in June 2025[93] Stock and Shareholder Information - The weighted average number of shares of common stock outstanding increased to 689,725 for the nine months ended September 30, 2025, from 143,160 for the same period in 2024[20] - The Company issued 418,261 shares of common stock valued at $1,672 for gross consideration of $3,335 in September 2025[160] - The Company issued 48,691 shares and warrants to purchase 267,858 shares at an exercise price of $8.40, receiving gross proceeds of $1,500[141] Operational Challenges - The company has an accumulated deficit of $40 million since inception, indicating ongoing financial challenges[46] - The company’s management expects to continue generating losses and negative cash flows for the foreseeable future[47] - The company is currently unable to predict the duration of the ongoing conflict in Israel, which may impact its operations and financial results[56] - The company continues to monitor the economic and geopolitical conditions affecting its business, particularly in Israel[55] Expenses Breakdown - Professional services expenses for the nine months ended September 30, 2025 were $1,853,000, up from $1,602,000 in 2024, reflecting a growth of 15.66%[209] - Share-based compensation for the nine months ended September 30, 2025 was $2,141,000, significantly higher than $814,000 in 2024, indicating an increase of 163.78%[209] - Legal expenses for the nine months ended September 30, 2025 were $273,000, compared to $151,000 in 2024, representing an increase of 80.79%[209] - Salaries and related expenses for the nine months ended September 30, 2025 were $131,000, a notable increase from $34,000 in 2024[209] - Insurance expenses for the nine months ended September 30, 2025 were $111,000, a slight decrease from $124,000 in 2024[209] - Registration fees for the nine months ended September 30, 2025 were $61,000, up from $39,000 in 2024, reflecting a growth of 56.41%[209]

For the quarterly period ended September 30, 2025; or o TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) x QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from_________to_________ Commission file number 001-38161 Cibus, Inc. (Exact name of registrant as specified in its charter) _____________________ (State or o ...

Financial Performance - Total revenue for Q3 2025 was $615,000, a decrease of 63.2% compared to $1,667,000 in Q3 2024[23] - Net loss for Q3 2025 was $24,303,000, compared to a net loss of $201,459,000 in Q3 2024, reflecting a significant reduction in losses[23] - The company reported a comprehensive loss of $24,301,000 for Q3 2025, compared to a comprehensive loss of $201,453,000 in Q3 2024[26] - For the three months ended September 30, 2025, Cibus, Inc. reported a net loss of $24.303 million, compared to a net loss of $179.968 million for the same period in 2024[28] - For the nine months ended September 30, 2025, Cibus, Inc. reported a net loss of $100.253 million, compared to a net loss of $256.909 million for the same period in 2024, indicating a significant improvement[32] - The net loss attributable to Cibus, Inc. stockholders for the three months ended September 30, 2025, was $23.541 million, compared to a net loss of $179.968 million for the same period in 2024[76] Expenses - Research and development expenses for Q3 2025 were $10,784,000, down from $12,990,000 in Q3 2024, indicating a 16.8% decrease[23] - Total operating expenses for Q3 2025 were $16,053,000, a substantial decrease from $202,104,000 in Q3 2024, primarily due to goodwill impairment in the prior year[23] - Stock-based compensation for the quarter was $1.886 million, reflecting an increase in employee incentives[28] - The company incurred stock-based compensation expenses of $6.363 million in 2025, down from $8.030 million in 2024, indicating a reduction in equity compensation costs[32] - Personnel expenses for the nine months ended September 30, 2025, were $20,189,000, a decrease of 9.0% from $22,129,000 in 2024[85] Assets and Liabilities - Cash and cash equivalents increased to $23,886,000 as of September 30, 2025, up from $14,433,000 at the end of 2024, representing a 65.5% increase[21] - The company's total assets decreased to $330,226,000 as of September 30, 2025, down from $350,069,000 at the end of 2024[21] - The royalty liability related to parties increased to $225,517,000 as of September 30, 2025, compared to $199,442,000 at the end of 2024, indicating a 13.1% increase[21] - The total stockholders' equity at September 30, 2025, was $52.029 million, a decrease from $74.476 million at June 30, 2025[28] - The accumulated deficit increased to $826.965 million as of September 30, 2025, compared to $803.424 million at June 30, 2025[28] Stock and Shares - The weighted average shares of Class A common stock outstanding increased to 52,925,776 in Q3 2025 from 23,586,746 in Q3 2024[23] - The balance of Class A Common Stock increased to 52,566,650 shares by September 30, 2025, from 52,480,413 shares at June 30, 2025[28] - The total number of shares outstanding increased to 52,566,650 as of September 30, 2025, from 26,429,630 as of September 30, 2024, reflecting significant equity financing activities[30] - The total potential dilutive securities as of September 30, 2025, amounted to 13,562,431, compared to 2,115,060 in 2024, indicating a substantial increase[77] Goodwill and Impairment - The company recognized a goodwill impairment of $20.950 million in 2025, a decrease from $181.432 million in 2024, reflecting a positive trend in asset valuation[32] - The Company experienced a goodwill impairment of $21.0 million for the three months ended March 31, 2025, and a total impairment of $181.4 million for the three and nine months ended September 30, 2024[59][60] - Goodwill as of September 30, 2025, was $585.266 million, with accumulated impairment losses totaling $352.750 million, resulting in a net goodwill balance of $232.516 million[106] - During the nine months ended September 30, 2025, the company recognized an impairment of goodwill amounting to $21.0 million, following a prior impairment of $181.4 million in the same period of 2024[106] Cash Flow and Financing - Cibus, Inc. generated $50.100 million in proceeds from issuances of securities during the nine months ended September 30, 2025, compared to $43.902 million in 2024[32] - The Company anticipates continued losses for the next several years and plans to finance future cash needs through various means, including commercialization activities and public or private equity or debt financings[44] - In January 2025 and June 2025, the Company raised approximately $21.4 million and $25.0 million, respectively, from registered direct offerings[46] - The Company recorded a nominal income tax provision for foreign jurisdictions for the three and nine months ended September 30, 2025, due to a history of net operating losses[140] Deferred Revenue - Deferred revenue balance as of September 30, 2025, is $932,000, reflecting an increase from $918,000 as of June 30, 2025[63] - For the nine months ended September 30, 2025, $2.582 million of deferred revenue was earned, with the same amount received, resulting in no change in the balance[63] - The collaboration agreement revenue for the three months ended September 30, 2025, was $386,000, compared to $1,447,000 in 2024, showing a significant decline[154] - The company had $0.9 million of deferred revenue from R&D activities under the P&G agreement as of September 30, 2025[153] Operational Changes - The Company implemented a restructuring initiative, including a workforce reduction of approximately 34 full-time employees, to preserve capital resources[50] - The Company terminated its at-the-market facility during the third quarter of 2025, having not issued any shares from it during the nine months ended September 30, 2025[45] Currency and Translation Adjustments - Cibus, Inc. experienced a foreign currency translation adjustment of $2 million during the quarter[28] - Cibus, Inc. reported a foreign currency translation adjustment of $31,000 for the nine months ended September 30, 2025, compared to a loss of $23,000 in 2024, indicating fluctuations in currency exchange rates[32] Other Financial Metrics - The company has not experienced any counterparty credit losses and maintains a diversified portfolio of high investment-grade securities[86] - The company is currently evaluating the impact of recently issued accounting standards on its financial statements[90] - The company recorded depreciation and amortization expense of $939,000 for the three months ended September 30, 2025, compared to $1.172 million for the same period in 2024[103]

Financial Performance - Total revenue for the nine months ended September 30, 2025, was $27.8 million, an increase of $1.4 million, or 5.2%, compared to the prior year[105]. - Gross profit for the same period was $19.7 million, reflecting a 5.7% increase year-over-year, with a gross margin of 71%[105]. - For the three months ended September 30, 2025, total revenue was approximately $9.5 million, an increase of approximately $0.9 million, or 10.1%, compared to the same period in 2024[109]. - Gross profit for the three months ended September 30, 2025, was approximately $6.7 million, an increase of 26.8% compared to $5.2 million for the same period in 2024, with gross margins improving to 70.3% from 61.0%[110]. - Total revenue for the nine months ended September 30, 2025, was approximately $27.8 million, a 5.2% increase from $26.4 million in 2024, driven by growth in European territories[116]. - Gross profit for the nine months ended September 30, 2025, was approximately $19.7 million, an increase of 5.7% from $18.6 million in 2024, with gross margins slightly improving to 70.7%[117]. Operating Expenses - The loss from operations improved by 20.6% to approximately $10.4 million, driven by a 5.2% increase in total revenue and a 5.2% reduction in total operating expenses[105]. - The cost of goods sold for the three months ended September 30, 2025, was $2.8 million, representing 29.7% of revenue, down from 39.0% in the prior year[108]. - Research and development expenses for the three months ended September 30, 2025, were $918,000, a decrease from $1.8 million, representing 9.7% of revenue compared to 21.2% in 2024[108]. - Research and development expenses decreased by 49.7% to approximately $0.9 million for the three months ended September 30, 2025, down from $1.8 million in 2024, due to the completion of the STAR-T clinical trial[111]. - Selling, general and administrative expenses increased by 4.2% to approximately $8.6 million for the three months ended September 30, 2025, compared to $8.3 million in 2024, primarily due to regulatory submission costs for DrugSorb-ATR[112]. - Loss from operations decreased by 40.7% to approximately $2.9 million for the three months ended September 30, 2025, from $4.8 million in 2024, attributed to a 5.5% reduction in operating expenses and increased gross profit[114]. - Research and development costs for the nine months ended September 30, 2025, were approximately $3.8 million, a decrease of 31.3% from $5.6 million in 2024, due to reduced clinical trial costs[118]. Strategic Plans and Market Opportunities - The Company expects to rapidly commercialize DrugSorb-ATR in the U.S. and Canada, with an initial estimated total addressable market of $300 million, potentially growing to over $1 billion[103]. - The Company plans to file a new De Novo application for DrugSorb-ATR with the FDA, with a regulatory decision expected in mid-2026[107]. - The company expects a regulatory decision for DrugSorb-ATR in the U.S. by mid-2026 following a 150-day review process[138]. - Future capital requirements may depend on expanding the customer base and sales force, as well as obtaining regulatory approval for new products[137]. - The company announced plans to file a new De Novo application for DrugSorb-ATR with the FDA after the previous application was denied[138]. Workforce and Cost Management - A strategic workforce and cost reduction plan was initiated, reducing the workforce by approximately 10% and aiming for operating cash flow break-even in the first quarter of 2026[107]. - The company expects to reach operating cash flow break-even in the first quarter of 2026 following a strategic workforce and cost reduction plan that includes a 10% workforce reduction[132]. - The company has taken actions to achieve cash flow breakeven, but failure to do so may necessitate slowing sales and marketing expansion or reducing headcount[137]. Financial Position and Liquidity - As of September 30, 2025, the company had current assets of approximately $21.3 million and current liabilities of approximately $12.6 million, indicating a healthy liquidity position[124]. - As of September 30, 2025, the company had approximately $9.1 million in cash, including $7.6 million in unrestricted cash and cash equivalents[133]. - The total amount of debt drawn under the Loan and Security Agreement was $15.0 million as of September 30, 2025, which would increase to $17.5 million on a proforma basis with an additional $2.5 million from the Amended Loan and Security Agreement[136]. - The company has approximately $1.5 million in non-current restricted cash as of September 30, 2025[135]. - The company has no assurance of securing funding on acceptable terms, which may impact its operational strategies[137]. Currency and Foreign Transactions - Gain on foreign currency transactions for the nine months ended September 30, 2025, was approximately $9.1 million, compared to a gain of $0.7 million in 2024, linked to an increase in the Euro to U.S. dollar exchange rate[122]. Funding and Financing Considerations - The company is considering various sources of liquidity, including public or private equity offerings and debt financing, but faces potential dilution for shareholders[137]. - The company filed a pre-submission meeting request with the FDA on November 7, 2025, to discuss the requirements for the new De Novo submission[138].

Financial Performance - ESS reported total revenue of $214,000 for Q3 2025, a decrease of 40.4% compared to $359,000 in Q3 2024[17]. - The company incurred a gross loss of $4.725 million in Q3 2025, compared to a gross loss of $12.382 million in Q3 2024[17]. - ESS's net loss for Q3 2025 was $10.375 million, compared to a net loss of $22.493 million in Q3 2024, representing a 53.8% improvement[17]. - For the nine months ended September 30, 2025, the net loss was $39,457 thousand, a decrease of 37% compared to a net loss of $62,743 thousand in the same period of 2024[21]. - Adjusted EBITDA for the nine months ended September 30, 2025, was $(29,898) thousand, an improvement from $(53,088) thousand in the same period of 2024[27]. Financing and Liquidity - The company completed a $40 million financing with Yorkville Advisors and repaid $15 million of the promissory note, enhancing liquidity for upcoming projects[3][4]. - ESS announced a $75 million at-the-market program to provide flexible access to capital as it executes its growth strategy[5]. - The company raised $4,789 thousand from the issuance of common stock and warrants, contributing to financing activities[21]. Operating Expenses - Total operating expenses for the nine months ended September 30, 2025, were $21,541 thousand, down from $34,131 thousand in 2024, reflecting a 37% decrease[25]. - Research and development expenses for the nine months ended September 30, 2025, were $4,929 thousand, a decrease of 45% from $9,066 thousand in 2024[25]. - Non-GAAP total operating expenses for the nine months ended September 30, 2025, were $19,195 thousand, down from $27,461 thousand in 2024, a reduction of 30.1%[25]. - The company experienced a significant reduction in stock-based compensation expenses, totaling $3,945 thousand for the nine months ended September 30, 2025, compared to $8,538 thousand in 2024, a decrease of 53.8%[27]. Cash Flow and Assets - Cash flows from operating activities showed a net cash used of $36,430 thousand, improving from $51,743 thousand in the prior year, indicating a 29.5% reduction in cash outflow[21]. - The company reported a net cash provided by investing activities of $17,337 thousand, compared to $43,886 thousand in the previous year, representing a 60.5% decline[21]. - Cash, cash equivalents, and restricted cash at the end of the period totaled $4,963 thousand, down from $14,675 thousand at the end of September 2024, a decrease of 66.1%[21]. - Total current assets decreased to $11.557 million as of September 30, 2025, down from $43.364 million at the end of 2024[19]. - Current liabilities totaled $23.803 million as of September 30, 2025, compared to $27.602 million at the end of 2024[19]. Strategic Initiatives - The company is focused on fulfilling the 50 MWh pilot project with Salt River Project and scaling manufacturing processes in 2026[6]. - ESS plans to host an Investor Day in January 2026 to provide updates on strategic priorities and execution progress[2][7]. - The company aims to validate the performance of its Energy Base platform and prepare for volume growth over the next 18 months[6].

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-42417 CO2 ENERGY TRANSITION CORP. (Exact Name of Registrant as Specified in Its Charter) | Delaware | 87-2950691 | | --- | --- | | (Sta ...

(MARK ONE) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarter ended September 30, 2025 UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(d) OF THE SECURITIES EXCHANGE ACT OF 1934 For the transition period from to Commission file number: 001-42417 CO2 ENERGY TRANSITION CORP. (Exact Name of Registrant as Specified in Its Charter) | Delaware | 87-2950691 | | --- | --- | | (Sta ...

UNITED STATES SECURITIES AND EXCHANGE COMMISSION Washington, D.C. 20549 FORM 10-Q (Mark One) ☒ QUARTERLY REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 For the quarterly period ended September 30, 2025 ☐ TRANSITION REPORT PURSUANT TO SECTION 13 OR 15(D) OF THE SECURITIES EXCHANGE ACT OF 1934 OR For the transition period from to Commission file number: 001-42747 SOLARIUS CAPITAL ACQUISITION CORP. (Exact name of registrant as specified in its charter) | Cayman Islands | N/A | | ...

Financial Performance - The net operating loss for the three months ended September 30, 2025, was $3.76 million, compared to a loss of $8.72 million for the same period in 2024, indicating a 56.9% improvement[10]. - The company reported a net loss of $4.66 million for the three months ended September 30, 2025, compared to a loss of $7.74 million in the same period of 2024, showing a reduction of 39.5%[10]. - Net loss for the nine months ended September 30, 2025, was $19,508,201, compared to a net loss of $20,855,682 for the same period in 2024, indicating a decrease of approximately 6.4%[14]. - The net loss attributable to MDB Capital Holdings, LLC for the nine months ended September 30, 2025, was $19,491,804[85]. - The net loss for the nine months ended September 30, 2025, was $(5,816,310), a 35.5% increase from $(4,293,474) in 2024[152]. Revenue and Income - Fee income for the nine months ended September 30, 2025, increased to $2.14 million, up from $1.30 million in 2024, reflecting a growth of 64.5%[10]. - For the nine months ended September 30, 2025, total operating income was $178,570, a decrease of $835,246 or 82.4% from $1,013,816 in 2024[146]. - Fee income for the nine-month period increased to $2,140,238, up $836,840 or 64.2% from $1,303,398 in 2024[146]. - The company reported a gain related to dilution events of $19,863 for both the three and nine-month periods, marking a 100% increase from no gain in the previous year[146]. Assets and Liabilities - As of September 30, 2025, total assets decreased to $61.51 million from $71.98 million as of December 31, 2024, representing a decline of approximately 14.5%[8]. - Total liabilities remained relatively stable at $1.88 million as of September 30, 2025, compared to $1.90 million as of December 31, 2024[8]. - Cash and cash equivalents decreased to $15.09 million as of September 30, 2025, down from $20.44 million at the end of 2024, a decline of 26.3%[8]. - The equity method investment decreased to $38.74 million as of September 30, 2025, from $41.76 million at the end of 2024, a decrease of 7.2%[8]. - The company had an accumulated deficit of $(18,049,729) as of September 30, 2025, compared to an accumulated income of $1,442,075 on December 31, 2024[8]. Cash Flow - The total cash used in operating activities for the nine months ended September 30, 2025, was $5,323,638, compared to $8,620,720 in 2024, showing an improvement of approximately 38.5%[14]. - Cash used in operating activities for the nine months ended September 30, 2025, was $5,323,638, an improvement from $8,620,720 in 2024, indicating a reduction of about 38.5%[14]. - The company had a net cash provided by investing activities of $(25,677) for the nine months ended September 30, 2025, compared to $20,045,260 in 2024, indicating a significant decline[14]. Costs and Expenses - General and administrative costs for the nine months ended September 30, 2025, totaled $17,236,426[85]. - Stock-based compensation for the nine months ended September 30, 2025, was $9,066,067, down from $11,717,587 in 2024, reflecting a reduction of about 22.6%[14]. - Total operating costs for the nine months ended September 30, 2025, were $17,236,426, down from $22,805,340 in 2024, representing a decrease of about 24.5%[10]. - Compensation expenses decreased to $3,317,168 for the three-month period, down $1,853,604 or 35.8% from $5,170,772 in 2024[145]. Investment and Financing - The company completed an initial public offering (IPO) on September 20, 2023, raising gross proceeds of $19,999,992 from the sale of 1,666,666 shares at $12.00 per share[22]. - The company has a revolving credit facility with a commitment of up to $2,000,000, with a current interest rate of 6.75%[59]. - The Company recognized no income tax expense for the nine months ended September 30, 2025, due to a full valuation allowance against net deferred tax assets[132]. Research and Development - Research and development costs for the nine months ended September 30, 2025, were $0, compared to $1.24 million in 2024, indicating a strategic shift in R&D spending[10]. - Research and development costs were $0 for the three-month period, a decrease of $723,487 or 100% compared to $723,487 in 2024[145]. Market and Economic Conditions - The company is monitoring potential recession risks that could impact the overall business environment and capital markets[185].

Financial Reporting - Forge Global Holdings, Inc. posted supplemental financial information for Q3 2025 on November 13, 2025[4] - The financial results presentation is available on the company's investor relations website[4] - The report is not deemed "filed" under the Securities Exchange Act of 1934, indicating it is for informational purposes only[5] - The report includes key business metrics related to the quarter ended September 30, 2025[4] - The document includes an exhibit labeled "Supplemental Investor Information" for further details[6] - The report was signed by CEO Kelly Rodriques, indicating executive approval[10] Company Information - The company is registered under the ticker symbol FRGE on the NYSE[2] - The company is incorporated in Delaware and has a principal office in San Francisco, California[1] Business Operations - The report does not indicate any new product launches or market expansions in the current summary[4] - There is no mention of future guidance or performance outlook in the provided content[4]