Evogene Reports Third Quarter 2025 Financial Results

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November 20, 2025 7:13 AM EST

Conference call and webcast: today, November 20, 2025, 9:00 AM ET

Financial Highlights:

  • During the first nine months ending September 30, 2025, Evogene advanced its strategic transition toward establishing itself as a leader in computational chemistry, with a focus on the generative design of small molecules for the pharmaceutical and agricultural industries. As part of this new strategy, the company executed an organizational realignment and cost-reduction plan, most of which was completed by the end of the second quarter. The impact of these measures is reflected in the third-quarter results, with total operating expenses, net, of approximately $2.9 million compared to approximately $6.6 million in the same period of 2024. This new expense level is expected to be maintained going forward.

  • The financial results of Lavie Bio, Evogene's subsidiary, for the nine- and three-months ending September 30, 2025, are presented as a single-line item in Evogene's consolidated P&L statement for 2025. Its results are included under the line titled: "Income (loss) from discontinued operations, net". This accounting presentation includes the sale of the majority of Lavie Bio's activity to ICL, which was completed in July 2025, and together with the sale of MicroBoost AI for Ag, generated income, net, of approximately $7.9 million in the third quarter of 2025.

  • For the nine months ending September 30, 2025, revenues amounted to approximately $3.5 million, compared to approximately $4.0 million in the same period last year. The decrease was primarily driven by lower revenue from AgPlenus' activity, which included a one-time payment from Bayer during the first quarter of 2024, partially offset by an increase in seed sales generated by Casterra. 

  • For the nine months ending September 30, 2025, total operating loss was approximately $8.8 million compared to approximately $15.3 million in the same period of 2024. This decrease is mainly due to the decrease in the subsidiaries' and Evogene's activity.

  • As of the end of the third quarter of 2025, the company's cash and short-term bank deposits balance was approximately $16.0 million. This cash balance reflects the proceeds from the sale of Lavie Bio's assets and the MicroBoost AI for Ag tech-engine to ICL.

REHOVOT, Israel, Nov. 20, 2025 /PRNewswire/ -- Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN), a pioneering company in computational chemistry specializing in the generative design of small molecules for the pharmaceutical and agricultural industries, today announced its financial results for the third quarter ended September 30, 2025.

Evogene Logo

Mr. Ofer Haviv, President & CEO of Evogene, stated: "Evogene is at a turning point - becoming a focused, AI-driven company built around our core engine, ChemPass AI. This cutting-edge platform is redefining how small molecules are discovered and optimized, driving innovation across two global industries: pharma and agriculture.

In recent months, we have taken decisive steps to strengthen our focus to enable growth - expanding our ChemPass AI driven small molecule discovery and optimization for drug development and integrating AgPlenus, our ag-chemical subsidiary, more deeply into Evogene's core operations. At the same time, we streamlined activities outside our focus areas, as reflected in the completion of the Lavie Bio–ICL transaction, where we sold the majority of Lavie Bio's activity, and the scaling down of Biomica's operations. These actions have strengthened our balance sheet and sharpened our strategic focus.

Our plans for Casterra, our subsidiary providing an integrated solution for cultivating castor as a feedstock, differ from those of our other subsidiaries. While not directly connected to our core technology, we intend to focus on generating value through our holdings in Casterra. Casterra is advancing several business initiatives, which could potentially generate revenue in the future.

Evogene is now leaner, and more focused - ready to create lasting value in multi-billion-dollar markets."

Mr. Ofer Haviv, continued: "In life sciences, one of the greatest challenges has always been transforming brilliant scientific discoveries into real-world success. Too often, innovations full of potential struggle to overcome the complex realities of development, scalability, and commercialization.

At Evogene, we are changing that dynamic. We stand at the intersection of chemistry and computational technology, leading to a transformation that bridges the gap between innovation and impact. Through ChemPass AI, we can analyze vast datasets, explore billions of molecular possibilities, and design optimized novel small molecules with unprecedented precision while addressing multi-parameter requirements, accelerating discovery, improving success rates, and unlocking new commercial potential. We believe that ChemPass AI offers unique capabilities and by uniting scientific excellence with advanced computational intelligence, Evogene is creating value across pharma and agriculture - two industries representing massive global opportunity.

We invite investors to join us as we redefine small molecule innovation for both human health and sustainable agriculture."

Financial Highlights:

Cash Position: As of September 30, 2025, Evogene held consolidated cash, cash equivalents, and short-term bank deposits of approximately $16.0 million. The consolidated cash usage during the third quarter of 2025, excluding the cash generated from the sale of the majority of Lavie Bio's assets and the sale of MicroBoost AI for Ag to ICL, was approximately $3.5 million. Excluding Lavie Bio and Biomica, Evogene and its other subsidiaries used approximately $2.3 million in cash during the third quarter of 2025.

Revenue: Revenues for the nine months of 2025 were approximately $3.5 million, compared to approximately $4.0 million in the same period the previous year, reflecting a decrease of approximately $0.5 million. The decrease was primarily driven by lower revenue recognized from AgPlenus' activities, due to a one-time payment from its collaboration with Bayer recognized in the first quarter of 2024 as well as revenues recognized from the collaboration agreement with Corteva, which was completed during 2024, partially offset by an increase in seed sales generated by Casterra during the first quarter of 2025.  Revenues for the third quarter of 2025 were approximately $0.3 million; a decrease compared to approximately $1.7 million in the same period last year. The decrease was mainly due to reduced seed sales generated by Casterra during the third quarter of 2025.  

R&D Expenses: Research and development expenses, net of non-refundable grants, for the nine months of 2025 were approximately $6.2 million, a decrease of approximately $3.6 million compared to $9.8 million in the nine months of 2024. The decrease was primarily due to reduced R&D expenses in Biomica and the cessation of Canonic's operations at the beginning of 2024. In the third quarter of 2025, R&D expenses were approximately $1.4 million, down from approximately $ 3.3 million in the same period of 2024. This decrease is mainly attributed to decreased expenses in Biomica.

Sales and Marketing Expenses: Sales and marketing expenses for the nine months of 2025 were approximately $1.2 million, a decrease of approximately $0.4 million compared to approximately $1.6 million in the same period last year. The decrease was mainly due to reductions in Evogene, AgPlenus and Biomica personnel costs. Sales and marketing expenses for the third quarter of 2025 were approximately $0.4 million, reflecting a slight decrease of approximately $0.1 million compared to approximately $0.5 million in the third quarter of 2024.

General and Administrative Expenses: General and administrative expenses for the nine months of 2025 decreased to approximately $3.4 million from approximately $5.7 million in the same period last year. This decrease is mainly attributable to expenses recorded during the nine-month period of 2024 related to a provision for doubtful debt for one of Casterra's seed suppliers as well as transaction costs associated with Evogene's fundraising in August 2024.  General and administrative expenses for the third quarter of 2025 decreased to approximately $1.1 million compared to approximately $2.8 million in the same period of the previous year, primarily due to decreased expenses in Casterra and Evogene as mentioned above.

Other Expenses (income): Other income of approximately $0.2 million was recorded in the first quarter of 2025 as part of the accounting treatment related to a sub-lease agreement. The decision to cease Canonic's operations in the first half of 2024 resulted in other expenses of approximately $0.5 million, primarily due to impairment of fixed assets recorded in the first quarter of 2024.

Operating loss: The operating loss for the nine months of 2025 was approximately $8.8 million, a significant decrease from approximately $15.3 million in the same period of the previous year, mainly due to the decreased operating expenses, partially offset by the decreased revenues as mentioned above. The operating loss for the third quarter of 2025 was approximately $2.7 million, a decrease from approximately $5.9 million in the same period of the previous year, primarily due to the decreased operating expenses, partially offset by decreased revenues as mentioned above. 

Financing income (expenses), net: Financing income, net, for the nine months of 2025 was approximately $0.7 million, compared to financing expenses, net, of approximately $0.4 million in the same period of the previous year. The increase in financing income is mainly associated with accounting treatment of pre-funded warrants and warrants issued in August 2024 fund raising. As a result, during the nine months of 2025 the Company recorded financial income, net, related to pre-funded warrants and warrants of approximately $0.7 million as compared to financing expenses, net, of approximately $0.9 million in same period of 2024. Financing income, net, for the third quarter of 2025 was approximately $12 thousand, compared to financing expenses, net of approximately $0.8 million in the same period of the previous year. The increase in financing income is mainly associated with accounting treatment of pre-funded warrants and warrants issued in August 2024 fund raising as mentioned above.  

Income (loss) from discontinued operations, net: Income from discontinued operations, net, for the nine months of 2025 was approximately $5.7 million, compared to a loss of approximately $2.2 million in the same period of 2024. For the third quarter of 2025, income from discontinued operations, net, was approximately $7.9 million, compared to a loss of approximately $1.5 million in the third quarter of the previous year. These amounts primarily reflect the financial results of Lavie Bio and expenses related to the development and maintenance of MicroBoost AI for Ag, which are presented as a single-line item in the consolidated statements of profit and loss. Following the sale of the majority of Lavie Bio's assets as well as Evogene's MicroBoost AI for Ag to ICL, the Company recognized a gain on sale of approximately $6.4 million which is also included in the income (loss) from discontinued operations, net, for the nine- and three-months periods ended September 2025.  All prior period amounts have been reclassified to conform to this presentation. 

Net income (loss): The net loss for the nine months of 2025 was approximately $2.5 million, compared to approximately $18.0 million in the same period last year. The $15.5 million decrease in net loss was primarily due to decreased operating expenses; income derived from discontinued operations due to the asset sale to ICL, net, and increased financing income, net, partially offset by reduced revenues. The net income for the third quarter of 2025 was approximately $5.2 million, compared to net loss of approximately $8.2 million in the same period last year. This improvement was primarily due to income derived from discontinued operations, net due to the asset sale to ICL, decreased operating expenses, and increased financing income, net, partially offset by reduced revenues, as mentioned above.

For the financial tables click here.

Conference Call & Webcast Details: Thursday, November 20, 2025, 9:00 AM EST 4:00 PM IDT

To join the Zoom conference, please register in advance  here

 Webcast & Presentation link available at:
https://evogene.com/investor-relations/

About Evogene:

Evogene Ltd. (Nasdaq: EVGN) (TASE: EVGN) is a pioneering company in computational chemistry, specializing in the generative design of small molecules for the pharmaceutical and agricultural industries.

At the core of its technology is ChemPass AI, a proprietary generative AI engine that enables the design of novel, highly potent small molecules optimized across multiple critical parameters. This powerful platform significantly improves success rates while reducing development time and costs.

Built on this powerful technological foundation, and through strategic partnerships alongside internal product development, Evogene is focused on creating breakthrough products driven by the integration of scientific innovation with real-world industry needs. We call this approach "Real-World Innovation".

Learn more at: www.evogene.com .

Forward-Looking Statements

This press release contains "forward-looking statements" relating to future events. These statements may be identified by words such as "may", "could", "expects", "hopes" "intends", "anticipates", "plans", "believes", "scheduled", "estimates", "demonstrates" or words of similar meaning. For example, Evogene and its subsidiaries are using forward-looking statements in this press release when they discuss: the success of ChemPass AI discovery and optimization efforts in drug development, the success in design optimized novel small molecules with unprecedented precision while addressing multi-parameter requirements, accelerating discovery, improving success rates, and the success of Casterra's business initiatives and the potential of a sustainable revenue stream over time from its activity . Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events, involve certain risks and uncertainties which are difficult to predict and are not guarantees of future performance. Therefore, actual future results, performance, or achievements of Evogene and its subsidiaries may differ materially from what is expressed or implied by such forward-looking statements due to a variety of factors, many of which are beyond the control of Evogene and its subsidiaries, including, without limitation, the current war between Israel, Hamas and Hezbollah and any worsening of the situation in Israel such as further mobilizations or escalation in the northern border of Israel, and those risk factors contained in Evogene's reports filed with the applicable securities authority. In addition, Evogene and its subsidiaries rely, and expect to continue to rely, on third parties to conduct certain activities, such as their field trials and pre-clinical studies, and if these third parties do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines, Evogene and its subsidiaries may experience significant delays in the conduct of their activities. Evogene and its subsidiaries disclaim any obligation or commitment to update these forward-looking statements to reflect future events or developments or changes in expectations, estimates, projections and assumptions.

Logo: https://mma.prnewswire.com/media/1947468/Evogene_Logo.jpg

Evogene Investors Relations Contact:
Email: [email protected]
Tel: +972-8-9311901

 

 

 

CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION
 U.S. dollars in thousands



September 30,


December 31,



2025


2024



Unaudited



ASSETS





CURRENT ASSETS:





Cash and cash equivalents


$               5,626


$               15,301

Short-term bank deposits


10,332


10

Trade receivables


379


1,091

Other receivables and prepaid expenses


1,614


2,064

Deferred expenses related to issuance of warrants


771


1,304

Inventories


2,111


1,819








20,833


21,589

LONG-TERM ASSETS:





Long-term deposits and other receivables


162


12

Investment  in an associate


-


82

Deferred expenses related to issuance of warrants


1,278


1,735

Right-of-use-assets


2,166


2,447

Property, plant and equipment, net


1,196


1,804

Intangible assets, net


-


12,195

Other receivables


451


-








5,253


18,275






TOTAL ASSETS


$               26,086


$               39,864






LIABILITIES AND EQUITY










CURRENT LIABILITIES:





Trade payables


$                 457


$                1,228

Employees and payroll accruals


1,059


1,869

Lease  liabilities


675


589

Liabilities in respect of government grants


399


323

Deferred revenues and other advances


17


360

Warrants and pre-funded warrants liability


823


2,876

Convertible SAFE


-


10,371

Other payables


645


1,079








4,075


18,695

LONG-TERM LIABILITIES:





Lease  liabilities


1,845


1,914

Liabilities in respect of government grants


2,837


4,327

Deferred revenues and other advances


77


90








4,759


6,331






TOTAL LIABILITIES


$             8,834


$             25,026






 

 

 

CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION
 U.S. dollars in thousands

SHAREHOLDERS' EQUITY:





Ordinary shares of NIS 0.2 par value:

Authorized − 15,000,000 ordinary shares; Issued and
outstanding – 8,716,410 ordinary shares on  September  
30, 2025 and 6,514,589  ordinary shares on December
31, 2024


489


363

Share premium and other capital reserves


277,900


272,257

Accumulated deficit


(277,247)


(274,071)






Equity attributable to equity holders of the Company


1,142


(1,451)






Non-controlling interests


16,110


16,289






TOTAL EQUITY


17,252


14,838






TOTAL LIABILITIES AND EQUITY


$ 26,086


$ 39,864











 

 

 

CONSOLIDATED INTERIM STATEMENTS OF PROFIT OR LOSS 
 U.S. dollars in thousands (except share and per share amounts)



 

Nine months ended
September 30,


 

Three months ended
September 30,


Year ended
December 31,



2025


2024 (*)


2025


2024 (*)


2024 (*)



Unaudited


Audited












Revenues


$    3,539


$     4,034


$      312


$     1,740


$      5,577

Cost of revenues


1,810


1,688


157


1,042


2,380












Gross profit


1,729


2,346


155


698


3,197












Operating expenses:






















Research and development, net


6,167


9,804


1,375


3,305


12,511

Sales and marketing


1,178


1,632


369


520


1,983

General and administrative


3,388


5,710


1,126


2,793


6,993

Other expenses (income)


(182)


524


9


-


514












Total operating expenses, net


10,551


17,670


2,879


6,618


22,001












Operating loss


(8,822)


(15,324)


(2,724)


(5,920)


(18,804)












Financing income


2,285


2,659


465


2,068


7,393

Financing expenses


(1,541)


(3,107)


(453)


(2,889)


(3,358)












Financing income (expenses), net


744


(448)


12


(821)


4,035












Share of loss from equity accounted investment


(82)


(26)


(16)


(6)


 

(39)












Loss before taxes on income


(8,160)


(15,798)


(2,728)


(6,747)


(14,808)

Taxes on income (tax benefit)


1


2


1


1


9

Loss from continuing operations


(8,161)


(15,800)


(2,729)


(6,748)


(14,817)

Income (loss) from discontinued operations, net


5,688


(2,249)


7,926


(1,471)


(3,237)












Net income (loss)


$    (2,473)


$   (18,049)


$    5,197


$   (8,219)


$   (18,054)












Attributable to:











Equity holders of the Company


$    (3,176)


$ (16,912)


$   3,874


$   (7,630)


(16,485)

Non-controlling interests


703


(1,137)


1,323


(589)


(1,569)














$    (2,473)


$ (18,049)


$   5,197


$   (8,219)


$  (18,054)

Basic and diluted loss per share from
   continuing operations, attributable to equity
   holders of the Company


$      (1.06)


$     (2.85)


$     (0.31)


$     (1.12)


$     (2.46)

Basic and diluted loss per share from
   discontinued operations, attributable to
   equity holders of the Company


$       0.64


$     (0.32)


$     0.75


$     (0.19)


$     (0.43)












Weighted average number of shares used in
   computing basic and diluted loss per share


7,588,486


5,327,078


8,716,424


5,807,128


5,697,245












(*) Reclassified to conform to the current period presentation, following the classification of certain operations as discontinued operations.

 

 

 

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
 U.S. dollars in thousands 



 

 

Nine months ended
September 30 ,


 

Three months ended
September 30,


Year ended
December 31,




2025


2024 (*)


2025


2024 (*)

 


2024 (*)



Unaudited


Audited


    Cash flows from operating activities






















Loss from continuing operations


$  (8,161)


$  (15,800)


$  (2,729)


$   (6,748)


$  (14,817)












Adjustments to reconcile loss to net cash used in operating activities:


















Adjustments to the profit or loss items:






















Depreciation of property, plant and equipment and right-of-use-assets


881


940


281


209


1,381

Share-based compensation


499)


980


27


362


1,243

Remeasurement of Convertible SAFE


(371)


(48)


(26)


(72)


3

Net financing expenses (income)


21


 (**) 242


(135)


(**) 605


(771)

Loss (gain) from sale of property, plant and equipment


(182)


523


12


(1)


525

Revaluation of government grants


24


-


24


-


-

Excess of initial fair value of pre-funded warrants over transaction proceeds


-


2,684


-


2,684


2,684

Amortization of deferred expenses related to issuance of warrants


989


137


333


137


471

Remeasurement of pre-funded warrants and warrants


(1,664)


(1,940)


(346)


(1,940)


(6,529)

Share of loss of an associate


82


26


15


6


39

Taxes on income (tax benefit)


1


2


-


2


9














280


3,546


185


1,992


(945)

Changes in asset and liability items:

 











Decrease (increase) in trade receivables


667


(1,228)


730


(1,347)


(627)

Decrease (increase) in other receivables and prepaid expenses


960


558


(409)


1,185


806

Decrease (increase) in inventories


(740)


(897)


(139)


(669)


(1,277)

Increase (decrease) in trade payables


(447)


(464)


(78)


252


(630)

Increase (decrease) in employees and payroll accruals


(564)


(151)


(440)


(31)


(548)

Increase (decrease) in other payables


(540)


60


(82)


154


222

Increase (decrease) in deferred revenues and other advances


(356)


(96)


(5)


9


(559)














(1,020)


(2,218)


(423)


(447)


(2,613)

























(*) Reclassified to conform to the current period presentation, following the classification of certain operations as discontinued operations.
(**) Reclassified

 

 

 

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
 U.S. dollars in thousands 



 

Nine months ended
September 30,


 

Three months ended
September 30,


Year ended
December 31,



2025


2024 (*)


2025


2024 (*)


2024 (*)



Unaudited


Audited

Cash received (paid) during the period for:






















Interest received


221


536


45


134


934

Interest paid


(150)


(57)


(52)


(16)


(67)

Taxes paid


(11)


-


-


-


(11)












Net cash used in continuing operating activities


(8,841)


(13,993)


(2,974)


(5,085)


(17,519)












Net cash used in operating activities of discontinued operations


(1,975)


(1,146)


(359)


(491)


(2,181)












Net cash used in operating activities


$   (10,816)


$   (15,139)


$    (3,333)


$   (5,576)


$   (19,700)












Cash flows from investing activities:

































Purchase of property, plant and equipment


$       (129)


(304)


(6)


(137)


$      (626)

Proceeds from sale of property, plant and equipment


31


10


31


-


10

Proceeds from finance sub-lease asset


29


-


12


-


-

Withdrawal from (investment in) bank deposits, net


(7,400)


2,417


(4,072)


1,393


10,190












Net cash provided by (used in) continuing investing activities


(7,469)


2,123


(4,035)


1,256


9,574












Net cash provided by (used in) investing activities of discontinued operations


14,944


(1,259)


14,944


761


48












Net cash provided by investing activities


$  7,475


$    864


$   10,909


$   2,017


$     9,622












(*) Reclassified to conform to the current period presentation, following the classification of certain operations as discontinued operations.

 

 

 

CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS
 U.S. dollars in thousands 



 

Nine months ended
September 30 ,


 

Three months ended
September 30,


Year ended
December 31,



2025


2024 (*)


2025


2024 (*)


2024 (*)




Unaudited


Audited


Cash flows from financing activities:
























Proceeds from issuance of ordinary shares, pre-funded warrants and warrants


-


 (**) 5,500


-


(**) 5,500


5,500


Proceeds from issuance of ordinary shares, net of issuance expenses


4,283


123


-


37


122


Repayment of lease liability


(393)


(576)


(110)


(106)


(886)


Proceeds from government grants


-


134


-


134


134


Repayment of convertible SAFE


(10,000)


-


(10,000)


-


-


Repayment of government grants


(122)


(298)


-


(156)


(298)














Net cash provided by (used in) continuing financing activities


(6,232)


4,883


(10,110)


5,409


4,572














Net cash provided by (used in) financing activities of discontinued operations


(114)


(21)


(226)


(28)


84














Net cash provided by (used in) financing activities


$   (6,346)


$    4,862


$   (10,336)


$   5,381


$     4,656














Exchange rate differences - cash and cash equivalent balances


12


(42)


(13)


11


(49)














Increase (decrease) in cash and cash equivalents


(9,675)


(9,455)


(2,773)


1,833


(5,471)














Cash and cash equivalents, beginning of the period


15,301


20,772


8,329


9,484


20,772


Cash and cash equivalents presented in assets held for sale beginning of the period


-


-


70


-


-














Cash and cash equivalents, end of the period


$   5,626


$  11,317


$    5,626


$  11,317


$    15,301














Significant non-cash activities












Acquisition of property, plant and equipment


$          2


$         28


$              -


$        28


$         120


Right-of-use asset recognized with corresponding lease liability


$      207


$       279


$             -


$     95


$      2,307


Exercise of pre-funded warrants


$      389


$            -


$             -


$           -


$      2,289


Derecognition of property, plant and equipment under a finance lease


$        13


$            -


$             -


$           -


$             -


Investment in affiliated company with corresponding deferred revenues 


$          -


$       120


$             -


$           -


$         120


(*) Reclassified to conform to the current period presentation, following the classification of certain operations as discontinued operations.
(**) Reclassified

 

Cision View original content:https://www.prnewswire.com/news-releases/evogene-reports-third-quarter-2025-financial-results-302621634.html

SOURCE Evogene


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