Evogene (EVGN) Q2 2025 earnings summary

Executive summary

• Strategic repositioning around ChemPass AI for small-molecule discovery in pharma and crop protection in agriculture, with non-core activities divested.

• Generative AI foundation model launched with Google Cloud in June, trained on a proprietary dataset of ~38 billion molecular structures.

• Tel Aviv University and Professor Ehud Gazit collaboration targets small-molecule therapeutics for metabolic diseases, including gout and PKU.

• Cost reductions and restructuring included a 30% workforce reduction across operations and a reduction of over 40% at AgPlenus.

Financial highlights

• H1 2025 revenue was $3.2M vs. $2.3M in H1 2024, driven mainly by Casterra seed sales; Q2 revenue was $0.9M vs. $0.6M.

• H1 operating expenses, net, fell to $7.7M from $11.1M; operating loss narrowed to $6.1M from $9.4M.

• H1 net loss narrowed to $7.7M from $9.8M; Q2 net loss narrowed to $4.7M from $6.0M.

• June 30 cash, cash equivalents and short-term deposits were $11.7M, excluding Q3 asset-sale proceeds; Q2 cash use was $2.4M, or $1.0M excluding Lavie Bio and Biomica.

Outlook and guidance

• Most cost reductions were completed by Q2; the full savings impact was expected in H2 2025.

• ChemPass AI remains the core focus, with investment and new pharma and agriculture collaborations expected.

• Casterra is pursuing new markets and sustainable revenue streams; field-trial updates were forthcoming.

• Biomica targeted completion of the BMC128 clinical trial by early 2026 and sought development partners; Lavie Bio planned no new initiatives after its asset sale.