Evogene Q1 Revenue Plunges 86% to $334,000 Despite Smaller Loss
Evogene reported a first-quarter adjusted loss of $0.06 per share, surpassing the consensus loss estimate of $0.32, while revenue plunged 86% year-over-year to $334,000, missing the $3 million forecast. Net loss widened to $5.9 million as operating loss increased to $3.2 million and financing expenses rose $2.7 million.
1. Q1 Financial Results
Evogene reported an adjusted loss of $0.06 per share, surpassing the consensus loss estimate of $0.32, but revenue plunged to $334,000 in Q1. Net loss expanded to $5.9 million driven by a $3.2 million operating loss and $2.7 million in financing expenses.
2. Sharp Revenue Decline
Revenue fell 86% year-over-year from $2.3 million in Q1 2025, primarily due to lower seed sales at subsidiary Casterra. The $3 million revenue forecast was missed by a wide margin, triggering a 5.11% pre-market share decline.
3. Strategic Partnerships
During the quarter, Evogene entered three new pharmaceutical collaborations with Systasy Biosciences, Queensland University of Technology and Unravel Biosciences to advance its ChemPass AI platform. A warrant inducement transaction in February generated approximately $3.4 million in gross proceeds.
4. Cash Position and Outlook
As of March 31, 2026, the company held $13.1 million in cash, cash equivalents and short-term deposits, supporting ongoing development of its AI-driven small-molecule discovery engine and product pipeline expansion in pharma and agriculture.