GOODWILL AND INTANGIBLE ASSETS

9 Months Ended

Sep. 30, 2025

Goodwill and Intangible Assets Disclosure [Abstract]

GOODWILL AND INTANGIBLE ASSETSGoodwill

Goodwill represents future economic benefits arising from acquiring Cibus Global, LLC, primarily due to its strong market position and its assembled workforce that are not individually identified and separately recognized as intangible assets. None of the goodwill recognized is expected to be deductible for income tax purposes.

Goodwill is as follows:


In Thousands	Goodwill





Balance as of December 31, 2024
Goodwill	$	585,266
Accumulated impairment losses	(331,800)
	253,466
Impairment for the nine months ending September 30, 2025	(20,950)
Balance as of September 30, 2025
Goodwill	585,266
Accumulated impairment losses	(352,750)
	$	232,516

During the nine months ended September 30, 2025, the Company determined its goodwill was impaired by $21.0 million, which was recorded in the accompanying condensed consolidated statements of operations. During the three and nine months ended September 30, 2024, the Company determined its goodwill was impaired by $181.4 million, which was recorded in the accompanying condensed consolidated statements of operations.

A Triggering Event that could indicate impairment and necessitate an evaluation of goodwill includes, but is not limited to, macroeconomic conditions, industry and market considerations, increases in Cibus’ costs, commercial performance relative to strategic initiatives, adverse regulatory developments, or the deterioration of the market price of Cibus’ Class A Common Stock.

To the extent a Triggering Event occurs and Cibus concludes that goodwill has become further impaired, Cibus may be required to incur material write-offs relating to such impairment and any such write-offs could have a material impact on the Company’s future operating results and financial position.

Intangible Assets

Intangible assets as of September 30, 2025, were as follows:


In Thousands	Gross Carrying Amount		Accumulated Amortization		Intangible Assets, Net

Developed technology	$	14,148	$	1,651	$	12,497
Trade name	22,230		2,593		19,637

Total	$	36,378	$	4,244	$	32,134

Intangible assets as of December 31, 2024, were as follows:


In Thousands	Gross Carrying Amount		Accumulated Amortization		Intangible Assets, Net

Developed technology	$	14,148	$	1,120	$	13,028
Trade name	22,230		1,760		20,470
Other	150		70		80
Total	$	36,528	$	2,950	$	33,578

Total amortization expense is as follows:


	Three Months Ended September 30,				Nine Months Ended September 30,
In Thousands	2025		2024		2025		2024
Amortization expense	$	455	$	458	$	1,364	$	1,375

As of September 30, 2025, future amortization expense is estimated as follows:


In Thousands	Amortization Expense
Remainder of 2025	$	455
2026	1,819
2027	1,819
2028	1,819
2029	1,819
2030	1,819
Thereafter	22,584
Total future amortization expense	$	32,134