In This Article:
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Total Revenue (2024): Approximately $8.5 million, up from $5.6 million in 2023.
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Q4 Revenue (2024): Approximately $1.6 million, up from $0.6 million in Q4 2023.
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R&D Expenses (2024): Approximately $16.6 million, down from $20.8 million in 2023.
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Q4 R&D Expenses (2024): Approximately $3.4 million, down from $5.5 million in Q4 2023.
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G&A Expenses (2024): Approximately $7.4 million, up from $6.1 million in 2023.
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Operating Loss (2024): Approximately $22.2 million, down from $26.5 million in 2023.
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Q4 Operating Loss (2024): Approximately $4.6 million, down from $7.6 million in Q4 2023.
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Net Loss (2024): Approximately $18.1 million, down from $26 million in 2023.
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Q4 Net Loss (2024): Approximately $5,000, down from $7.3 million in Q4 2023.
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Cash and Equivalents (Dec 31, 2024): Approximately $15.3 million.
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Cash Usage (Q4 2024): Approximately $4.6 million.
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Financing Income Net (2024): Approximately $4.2 million, up from $0.5 million in 2023.
Release Date: March 06, 2025
For the complete transcript of the earnings call, please refer to the full earnings call transcript.
Positive Points
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Evogene Ltd (NASDAQ:EVGN) reported a significant increase in total revenues for 2024, reaching approximately $8.5 million compared to $5.6 million in 2023.
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The company successfully addressed a bottleneck in seed production, with Castera delivering 250 tons of Castor seeds in February 2025, surpassing the total delivery for the entire year of 2024.
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Evogene Ltd (NASDAQ:EVGN) has established a collaboration with Google Cloud to develop a generative AI foundation model for novel small molecule design, enhancing its capabilities in drug discovery.
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The company has implemented an expense reduction plan, resulting in a 30% reduction in headcount, which is expected to reflect positively on financials starting Q1 2025.
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Evogene Ltd (NASDAQ:EVGN) achieved a significant milestone in its operational expansion by completing the first shipment of over 100 tons of Castor seeds grown and processed in Kenya.
Negative Points
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The change in the delivery schedule of Castera seeds from 2024 to 2025 led to lower-than-expected revenues in Q4 2024.
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Total R&D expenses for 2024 were approximately $16.6 million, although decreased from 2023, they still represent a significant portion of the company's expenditures.
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General and administrative expenses increased to approximately $7.4 million in 2024, partly due to one-time expenses related to fundraising and a provision for doubtful debt.
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The company reported an operating loss of approximately $22.2 million for 2024, despite increased revenues and decreased R&D expenses.
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Evogene Ltd (NASDAQ:EVGN) did not provide specific cash burn guidance for 2025, creating uncertainty about future financial stability.