Evogene (EVGN) Q2 2026 earnings summary

Executive summary

• Underwent a major transformation into a lean, AI-driven computational chemistry leader for pharma and crop protection, reducing headcount from 117 to 38 and cash burn from $20.5M in 2024 to $8.5–$9.5M expected in 2026.

• Secured six drug development agreements, completed key milestones in both pharma and ag pipelines, and monetized non-core assets including Lavie Bio and Biomica.

• Expanded ChemPass AI platform, integrating advanced AI agents and increasing virtual chemical space to 110 billion molecules.

• Board faces a challenge from dissident shareholders but emphasizes continuity, adding two new industry experts to strengthen governance.

Financial highlights

• Consolidated cash and equivalents at $9.3M as of June 30, 2026; Q2 cash usage was $2.1M.

• Q2 net loss improved to $1.8M from $4.7M in Q2 2025 and $6M in Q2 2024, driven by lower operating expenses and higher financing income.

• H1 2026 revenues were $0.7M, down from $2.9M in H1 2025, mainly due to lower Casterra sales.

• R&D expenses for H1 2026 were $2.9M, down from $3.5M in H1 2025; Q2 2026 R&D expenses were $1.4M, down from $1.7M in Q2 2025.

• Net loss for H1 2026 was $7.7M, unchanged from H1 2025.

Outlook and guidance

• Full-year 2026 cash usage expected at $8.5–$9.5M, with further reductions anticipated in 2027.

• Focus remains on advancing pharma and ag pipelines, securing new collaborations, and commercializing AI-driven platforms.

• Plans to increase investor outreach and IR activities as operational milestones are achieved.