Evogene Reports Third Quarter 2025 Financial Results

22 November 2025, Israel: 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.

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.

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