Evogene Reports Fourth Quarter and Full Year 2025 Financial Results
Rhea-AI Summary
Evogene (NASDAQ: EVGN) reported fourth-quarter and full-year 2025 results and outlined a strategic refocus on its proprietary ChemPass AI™ small‑molecule engine for pharma and agriculture. 2025 highlights include operating expenses reduced to ~$13.8M, consolidated cash of ~$13.0M, 2025 revenue of ~$3.9M, and a $6.4M gain from the Lavie Bio asset sale.
The company recorded a 2025 operating loss of ~$14.0M and net loss of ~$7.8M, implemented divestitures and restructurings, recognized a $2.2M inventory impairment at Casterra, and secured ~ $3.4M gross proceeds from a February 2026 warrant exercise inducement.
Positive
- Operating expenses reduced to approximately $13.8M in 2025
- Consolidated cash of approximately $13.0M as of Dec 31, 2025
- Gain on Lavie Bio sale of approximately $6.4M included in discontinued operations
- Warrant exercise proceeds of approximately $3.4M (Feb 2026)
- ChemPass AI advanced via Google Cloud collaborations and foundation model
Negative
- Revenue decline to approximately $3.9M in 2025 from $5.6M in 2024
- Inventory impairment of approximately $2.2M recorded by Casterra
- Operating loss of approximately $14.0M in 2025
- Net loss of approximately $7.8M in 2025
- Fourth-quarter cash usage of approximately $3.0M
News Market Reaction – EVGN
On the day this news was published, EVGN declined 6.16%, reflecting a notable negative market reaction. Argus tracked a peak move of +3.7% during that session. Argus tracked a trough of -8.8% from its starting point during tracking. Our momentum scanner triggered 10 alerts that day, indicating notable trading interest and price volatility. This price movement removed approximately $479K from the company's valuation, bringing the market cap to $7M at that time.
Data tracked by StockTitan Argus on the day of publication.
Key Figures
Market Reality Check
Peers on Argus
EVGN declined 1.11% while scanner peers were mixed: BRTX up 2.07% and SNSE down 4.49%. Broader biotech peers (ERNA, LYRA, KZIA, MBIO, MBRX) also showed mixed moves, suggesting a stock-specific rather than sector-driven setup into this earnings release.
Previous Earnings Reports
| Date | Event | Sentiment | Move | Catalyst |
|---|---|---|---|---|
| Feb 19 | Earnings release scheduling | Neutral | -5.6% | Announcement of date and call details for FY 2025 results release. |
| Nov 06 | Earnings release scheduling | Neutral | -1.7% | Scheduling and conference call notice for Q3 2025 financial results. |
| Aug 19 | Quarterly results update | Positive | -4.2% | Q2 2025 results with higher H1 revenues, lower operating expenses, and asset sale to ICL. |
| Jul 29 | Earnings release scheduling | Neutral | -2.3% | Notice of upcoming Q2 2025 results release and related conference call. |
| May 21 | Quarterly results update | Neutral | -6.7% | Q1 2025 results showing revenue decline but significant operating expense reductions. |
Earnings-related headlines, including scheduling notices and results, have typically seen negative price reactions, with an average move of about -4.1% over the past year.
Recent earnings-tagged events for Evogene show a consistent pattern of cautious market reactions. Q1 and Q2 2025 results highlighted revenue volatility alongside substantial operating cost reductions and portfolio streamlining, including Lavie Bio’s asset sale to ICL and workforce reductions. Multiple releases simply scheduling results also saw modest declines. Against this backdrop, the new full-year 2025 report extends the same themes of restructuring, cost control, and focus on ChemPass AI™, while updating cash and loss metrics.
Historical Comparison
Earnings-tagged news for EVGN over the last year averaged a -4.1% move, often skewing negative even when results highlighted cost cuts or asset sales. This full-year 2025 report fits the same restructuring-and-efficiency narrative seen in prior quarters.
Across 2025, earnings updates have tracked Evogene’s shift toward ChemPass AI™, asset divestments like Lavie Bio’s sale to ICL, and steady reductions in operating expenses from Q1 through the full-year period.
Market Pulse Summary
The stock moved -6.2% in the session following this news. A negative reaction despite cost reductions fits the pattern of cautious responses to EVGN earnings, which have averaged about -4.1% on similar news. While net loss narrowed to $7.8M and operating expenses fell to $13.8M, revenues slipped to $3.9M and included a $2.2M inventory impairment. The balance between ongoing cash usage of about $3.0M in Q4 and future partnership or licensing inflows remains a key risk factor.
Key Terms
generative AI technical
warrant inducement agreement financial
discontinued operations financial
AI-generated analysis. Not financial advice.
Conference call and webcast: today, March 05, 2026, 9:00 AM ET
REHOVOT,
Mr. Ofer Haviv, President & CEO of Evogene, stated: "During 2025, we executed a clear and decisive strategic shift. After a comprehensive review of our technology assets, target markets, and capital allocation priorities, we sharpened our focus to drive sustainable long-term value by concentrating on a single proprietary tech-engine – ChemPass AI™ – for small-molecule discovery and optimization. We streamlined our operations to focus on two high-impact markets: pharma and agriculture, while discontinuing non-core activities, divesting misaligned assets, resizing the organization, and aligning our business development efforts with this focused strategy. ChemPass AI™'s competitive advantage combines two core strengths: generating truly novel molecules and simultaneously optimizing multiple critical parameters from the outset.
Throughout 2025, ChemPass AI™ was advanced through proprietary internal developments and strategic collaborations with Google Cloud. Our first collaboration delivered a foundation model trained on 38 billion structures, achieving
Evogene's offering – our proprietary small-molecule product candidates – combines three unique powerful characteristics: novel molecules representing new and diverse chemical structures; optimized for simultaneous multi-parameters from the earliest design stages; and highly potent compounds refined through targeted experimental validation.
Our business model is built on an integrated, partnership-driven approach that supports both collaborations and the in-house advancement of proprietary candidates. Projects begin with joint strategic alignment and continue through rigorous experimental validation, with partners actively engaged at every stage and programs tailored to specific scientific and commercial objectives.
In pharma, since the second half of 2025, we have advanced multiple partnered drug discovery programs, with ChemPass AI™ candidates progressing into experimental testing by our partners; four collaborations have been publicly disclosed to date.
In agriculture, AgPlenus applies ChemPass AI™ to novel herbicide and fungicide development, supported by strategic collaborations with Bayer and Corteva and a differentiated internal pipeline, positioning us for continued growth."
Mr. Haviv continued: "As part of our focused strategy, we discontinued non-core activities, divested misaligned assets, and resized the organization. During 2025, Lavie Bio was acquired by ICL. In early 2026, Biomica licensed its lead oncology candidate, BMC128, to Lishan Pharmaceuticals. No additional activity is expected from these companies. At the same time, Evogene has retained select activities with meaningful value potential that are not at the core of our new strategy, including Casterra, and intends to continue supporting these activities until their full potential is realized.
Looking ahead, the advancement of proprietary small-molecule product candidates is at the heart of Evogene's mission. Supported by ChemPass AI™, our differentiated generative AI tech-engine, disciplined capital allocation across two high-potential markets, and strong strategic partnerships, we believe Evogene is well-positioned on a clearly defined and focused path toward sustainable long-term value creation."
Financial Highlights:
- As part of the Company's updated strategic plan, management implemented an organizational realignment and cost-reduction initiative. The effects of these measures are reflected in the significant decrease in operating expenses, net, which declined to approximately
$13.8 million $22.0 million $3.2 million $4.3 million - In 2025, Lavie Bio, our subsidiary focused on agricultural biologicals, completed the sale of the majority of its operations to ICL Group Ltd. As a result of this transaction, Lavie Bio no longer maintains employees, and its operating expense level has decreased significantly. Lavie Bio anticipates distributing the majority of its remaining cash to its shareholders, including Evogene, during 2026.
- During 2025, as part of the Company's updated strategic plan, we scaled down Biomica's operations and research and development activities and reduced its personnel to a minimal level. In early 2026, Biomica entered into a license agreement with Lishan Pharmaceuticals for its lead oncology candidate, BMC128. Following this transaction, Biomica does not expect to conduct further material operational activities and anticipates distributing the majority of its remaining cash to its shareholders, including Evogene.
- With respect to AgPlenus, we integrated AgPlenus, our ag-chemical subsidiary, into our core operations, with the objective of maximizing the value of our ChemPass AI platform for the development of novel ag-chemical products. In alignment with the Company's updated organizational structure, AgPlenus was resized and streamlined to reflect the revised operating model.
- During 2025, due to a significant decline in demand for castor seeds, Casterra Ag ceased its operations in
Kenya , reduced its headcount and overall expense level, and is currently focusing its activities on the Brazilian market. As a result of these developments, Casterra recorded an impairment of approximately$2.2 million - In February 2026, we entered into a warrant inducement agreement with an existing investor providing for the immediate exercise in full of its August 2024 Series A and Series B warrants, resulting in gross proceeds to the Company of approximately
$3.4 million $1.25
Financial Reports:
Cash Position – As of December 31, 2025, Evogene held consolidated cash, cash equivalents, and short-term bank deposits of approximately
Revenues for 2025 totaled approximately
Cost of Revenues for the year ending 2025 was approximately
R&D Expenses, net of non-refundable grants, for the year 2025 were approximately
Sales and Marketing Expenses for the year 2025 were approximately
General and Administrative Expenses for the year 2025 decreased to approximately
Other Expenses, net of approximately
Operating Loss for 2025 was approximately
Financing Income, net for the year 2025 was approximately
Income from Discontinued Operations, net for the twelve months of 2025 was approximately
Net loss for the twelve months of 2025 was approximately
For the financial tables click here.
Conference Call & Webcast Details: Thursday, March 5, 2026, 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 Ltd.
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 is using forward-looking statements in this press release when it discusses ChemPass AI™'s competitive advantage, the potential success of Evogene's proprietary small-molecule product candidates, the potential success of Evogene's collaboration with third parties, Casterra's potential, Evogene's potential to create value. 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, including, the aftermath of the recent war between
Logo: https://mma.prnewswire.com/media/1947468/Evogene_Logo.jpg
Evogene Investor Relations Contact:
Email: ir@evogene.com
Tel: +972-8-9311901
CONSOLIDATED STATEMENTS OF FINANCIAL POSITION | |||||
December 31, | December 31, | ||||
2025 | 2024 | ||||
CURRENT ASSETS: | |||||
Cash and cash equivalents | $ 12,956 | $ 15,301 | |||
Restricted cash | 32 | 10 | |||
Trade receivables | 317 | 1,091 | |||
Other receivables and prepaid expenses | 1,565 | 2,064 | |||
Deferred expenses related to issuance of warrants | 551 | 1,304 | |||
Inventories | 210 | 1,819 | |||
15,631 | 21,589 | ||||
LONG-TERM ASSETS: | |||||
Long-term deposits and other receivables | 571 | 12 | |||
Investment accounted for using the equity method | 43 | 82 | |||
Deferred expenses related to issuance of warrants | 1,165 | 1,735 | |||
Right-of-use-assets | 1,824 | 2,447 | |||
Property, plant and equipment, net | 812 | 1,804 | |||
Intangible assets, net | - | 12,195 | |||
4,415 | 18,275 | ||||
$ 20,046 | $ 39,864 | ||||
CURRENT LIABILITIES: | |||||
Trade payables | $ 639 | $ 1,228 | |||
Employees and payroll accruals | 861 | 1,869 | |||
Lease liability | 716 | 589 | |||
Liabilities in respect of government grants | 56 | 323 | |||
Deferred revenues and other advances | 17 | 360 | |||
Warrants and pre-funded warrants liability | 706 | 2,876 | |||
Convertible SAFE | - | 10,371 | |||
Other payables | 449 | 1,079 | |||
3,444 | 18,695 | ||||
LONG-TERM LIABILITIES: | |||||
Lease liability | 1,482 | 1,914 | |||
Liabilities in respect of government grants | 3,073 | 4,327 | |||
Deferred revenues and other advances | 72 | 90 | |||
4,627 | 6,331 | ||||
SHAREHOLDERS' EQUITY: | |||||
Ordinary shares of Authorized – 30,000,000 ordinary shares; Issued and | 488 | 363 | |||
Share premium and other capital reserve | 281,986 | 272,257 | |||
Accumulated deficit | (282,556) | (274,071) | |||
Equity attributable to equity holders of the Company | (82) | (1,451) | |||
Non-controlling interests | 12,057 | 16,289 | |||
Total equity | 11,975 | 14,838 | |||
$ 39,864 | |||||
CONSOLIDATED STATEMENTS OF PROFIT OR LOSS | ||||||||
Year ended December 31, | Three months ended December 31, | |||||||
2025 | 2024 (*) | 2025 | 2024 (*) | |||||
Revenues | $ 3,853 | $ 5,577 | $ 314 | $ 1,543 | ||||
Cost of Revenues: | ||||||||
Inventory impairment | 2,180 | - | 2,180 | - | ||||
Other cost of revenues | 1,914 | 2,380 | 104 | 692 | ||||
Total Cost of Revenues | 4,094 | 2,380 | 2,284 | 692 | ||||
Gross profit (loss) | (241) | 3,197 | (1,970) | 851 | ||||
Operating expenses (income): | ||||||||
Research and development, net | 7,994 | 12,511 | 1,827 | 2,707 | ||||
Sales and marketing | 1,476 | 1,983 | 298 | 351 | ||||
General and administrative | 4,286 | 6,993 | 898 | 1,283 | ||||
Other expenses (income) | 37 | 514 | 219 | (10) | ||||
Total operating expenses, net | 13,793 | 22,001 | 3,242 | 4,331 | ||||
Operating loss | (14,034) | (18,804) | (5,212) | (3,480) | ||||
Financing income | 2,466 | 7,393 | 181 | 4,734 | ||||
Financing expenses | (1,891) | (3,358) | (350) | (251) | ||||
Financing income (expenses), net | 575 | 4,035 | (169) | 4,483 | ||||
Share of loss (gain) of an associate | 39 | 39 | (43) | 13 | ||||
Gain (loss) before taxes on income | (13,498) | (14,808) | (5,338) | 990 | ||||
Taxes on income | 1 | 9 | - | 7 | ||||
Income (loss) from continuing operations | (13,499) | (14,817) | (5,338) | 983 | ||||
Income (loss) from discontinued operations, net | 5,672 | (3,237) | (16) | (988) | ||||
Loss | $ (7,827) | $ (18,054) | $ (5,354) | |||||
Attributable to: | ||||||||
Equity holders of the Company | (8,485) | (16,485) | (5,309) | 427 | ||||
Non-controlling interests | 658 | (1,569) | (45) | (432) | ||||
$ (18,054) | $ (5,354) | $ (5) | ||||||
Basic and diluted gain (loss) per share from | $ (1.70) | $ (2.47) | $ (0.61) | $ 0.17 | ||||
Basic and diluted gain (loss) per share from | $ 0.62 | $ (0.43) | $ (0.002) | $ (0.11) | ||||
Weighted average number of shares used in | 7,874,039 | 5,697,245 | 8,718,207 | 6,795,589 | ||||
(*) Reclassified to conform to the current period presentation, following the classification of certain operations as | ||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | ||||||||
Year ended December 31, | Three months ended December 31, | |||||||
2025 | (*) 2024 | 2025 | 2024 (*) | |||||
Cash flows from operating activities: | ||||||||
Loss from continuing operations | $ (13,499) | $ (14,817) | $ (5,338) | $ 983 | ||||
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 | 1,144 | 1,381 | 263 | 441 | ||||
Share-based compensation | 654 | 1,243 | 155 | 263 | ||||
Remeasurement of Convertible SAFE | (371) | 3 | - | 51 | ||||
Net financing expenses (income) | (28) | (771) | (49) | (1,013) | ||||
Loss (gain) from sale of property, plant and equipment | (209) | 525 | (27) | 2 | ||||
Impairment of property, plant and equipment | 246 | - | 246 | - | ||||
Inventory impairment | 2,180 | - | 2,180 | - | ||||
Revaluation of government grants | 40 | - | 16 | - | ||||
Excess of initial fair value of pre-funded warrants over transaction proceeds | - | 2,684 | - | - | ||||
Amortization of deferred expenses related to issuance of warrants | 1,323 | 471 | 334 | 334 | ||||
Remeasurement of pre-funded warrants and warrants | (1,781) | (6,529) | (117) | (4,589) | ||||
Share of loss of an associate | 39 | 39 | (43) | 13 | ||||
Taxes on income (tax benefit) | (6) | 9 | (7) | 7 | ||||
3,231 | (945) | 2,951 | (4,491) | |||||
Changes in asset and liability items:
| ||||||||
Decrease (increase) in trade receivables | 665 | (627) | (2) | 601 | ||||
Decrease (increase) in other receivables and prepaid expenses | 1,047 | 806 | 87 | 248 | ||||
Decrease (increase) in inventories | (1,019) | (1,277) | (279) | (380) | ||||
Increase (decrease) in trade payables | (259) | (630) | 188 | (166) | ||||
Increase (decrease) in employees and payroll accruals | (756) | (548) | (192) | (397) | ||||
Increase (decrease) in other payables | (570) | 222 | (30) | 162 | ||||
Increase (decrease) in deferred revenues and other advances | (361) | (559) | (5) | (463) | ||||
(1,253) | (2,613) | (233) | (395) | |||||
Cash received (paid) during the period for: | ||||||||
Interest received | 338 | 934 | 117 | 398 | ||||
Interest paid | (193) | (67) | (43) | (10) | ||||
Taxes paid | (11) | (11) | - | (11) | ||||
Net cash used in continuing operating activities | ||||||||
(11,387) | (17,519) | (2,546) | (3,526) | |||||
Net cash used in operating activities of discontinued operations | (2,115) | (2,181) | (140) | (1,035) | ||||
Net cash used in operating activities | (13,502) | (19,700) | (2,686) | (4,561) | ||||
(*) Reclassified to conform to the current period presentation, following the classification of certain operations as | ||||||||
CONSOLIDATED STATEMENTS OF CASH FLOWS | |||||||||||
Year ended December 31, | Three months ended December 31, | ||||||||||
2025 | 2024 (*) | 2025 | 2024 (*) | ||||||||
Cash flows from investing activities: | |||||||||||
Purchase of property, plant and equipment | (135) | (626) | (6) | (322) | |||||||
Proceeds from sale of property, plant and equipment | 78 | 10 | 47 | - | |||||||
Proceeds from finance sub-lease asset | 52 | - | 23 | - | |||||||
Withdrawal from (investment in) bank deposits, net | (1) | 10,190 | 7,399 | 7,773 | |||||||
Net cash provided by (used in) continuing investing activities | (6) | 9,574 | 7,463 | 7,451 | |||||||
Net cash provided by investing activities of discontinued operations | 17,744 | 48 | 2,800 | 1,307 | |||||||
Net cash provided by investing activities | 17,738 | 9,622 | 10,263 | 8,758 | |||||||
Cash flows from financing activities: | |||||||||||
Proceeds from issuance of ordinary shares, pre-funded warrants and warrants | - | 5,500 | - | - | |||||||
Proceeds from issuance of ordinary shares, net of issuance expenses | 4,283 | 123 | - | - | |||||||
Repayment of lease liability | (526) | (886) | (133) | (310) | |||||||
Proceeds from government grants | - | 134 | - | ||||||||
Repayment of convertible SAFE | (10,000) | - | - | - | |||||||
Repayment of government grants | (244) | (298) | (122) | - | |||||||
Net cash provided by (used in) continuing financing activities | (6,487) | 4,573 | (255) | (310) | |||||||
Net cash provided by (used in) financing activities of discontinued operations | (115) | 83 | (1) | 104 | |||||||
Net cash provided by (used in) financing activities | (6,602) | 4,656 | (256) | (206) | |||||||
Exchange rate differences – cash and cash equivalent balances | 21 | (49) | 9 | (7) | |||||||
Increase (decrease) in cash and cash equivalents | (2,345) | (5,471) | 7,330 | 3,984 | |||||||
Cash and cash equivalents, beginning of the period | 15,301 | 20,772 | 5,626 | 11,317 | |||||||
Cash and cash equivalents, end of the period | $ 12,956 | $ 15,301 | $ 12,956 | $ 15,301 | |||||||
(*) Reclassified to conform to the current period
| |||||||||||
Year ended December 31, | Three months ended December 31, | ||||||||||
2025 | 2024 | 2025 | 2024 | ||||||||
Acquisition of property, plant and equipment | 2 | 120 | - | 120 | |||||||
Increase of right-of-use-asset recognized with corresponding lease liability | 207 | 2,307 | - | - | |||||||
Exercise of pre-funded warrants | 389 | 2,289 | - | 2,289 | |||||||
Derecognition of property, plant and equipment under a finance lease | 13 | - | - | - | |||||||
Investment in affiliated Company with corresponding deferred revenues | - | 120 | - | - | |||||||
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SOURCE Evogene
FAQ
What did Evogene (EVGN) report for full-year 2025 revenue and net loss?
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