Evogene Reports Q1 Revenue of $300,000, Down from $2.3M Last Year
Reports Q1 revenue $300,000 vs. $2.3M last year. As of March 31, Evogene held consolidated cash, cash equivalents, and short-term bank deposits of approximately $13.1M. The consolidated cash usage during the Q1 was approximately $2.8M. Ofer Haviv, President & CEO of Evogene, stated: "Following the strategic transformation initiated in 2025, we are now focused on execution and advancing our tech engine for small-molecule discovery and optimization, ChemPass AI, and expanding our product pipeline in pharma and agriculture, through collaborations and continued progress in our internal programs. ChemPass AI's competitive advantage lies in its ability to generate novel molecules while optimizing multiple critical parameters from the earliest stages of design. We continue to enhance the platform through internal development and collaboration with tech companies. In February 2026, we were proud to announce a second collaboration with Google Cloud focused on integrating advanced AI agents into ChemPass AI, aimed at automating the generation of unique datasets from complex scientific workflows, thereby enabling new capabilities in small-molecule discovery and optimization."
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- Conference Highlights: Evogene Ltd. will showcase its latest achievements in the pharmaceutical sector at the BIO International Convention scheduled for June 22-25, 2026, in San Diego, USA, which is expected to attract significant industry attention.
- Leadership Attendance: The company will be represented by CEO Ofer Haviv, Chief Development Officer Dr. Gabi Tarcic, and VP of Business Development Dr. Olga Nissan, who will present technological breakthroughs in AI-driven small molecule discovery and optimization.
- Technical Presentation: Dr. Tarcic will deliver an oral presentation focusing on how ChemPass AI™ is enabling new collaborative drug discovery opportunities with pharmaceutical and biotech partners, further solidifying Evogene's leadership position in the industry.
- One-on-One Meetings: Evogene's management will be available for one-on-one meetings during the conference, encouraging interested parties to contact the company's investor or public relations team to explore potential collaboration opportunities.
- Significant Revenue Growth: EverGen Infrastructure reported a 38% year-over-year revenue increase to $2.6 million in Q1 2026, although it saw a decline compared to Q4 2025, indicating strong market performance.
- Debt Restructuring Impact: The company successfully restructured its debt, moving approximately $13 million from corporate to asset level, saving about $500,000 annually in debt service costs, thereby enhancing flexibility for future growth.
- Long-Term Contract Assurance: The 20-year offtake agreement with FortisBC provides a stable revenue base, ensuring long-term revenue certainty and delivering consistent returns for shareholders.
- Sustained Production Capacity: RNG production remained steady at 200,000 gigajoules in Q1 2026, demonstrating strong operational performance despite the lengthy permitting process for expansion projects, which positions the company competitively in the market.
- Successful Clinical Trial: Evogene has completed the first-in-human Phase 1 clinical trial of BMC128, enrolling 11 patients, with results indicating a favorable safety profile and high tolerability, as no dose-limiting toxicities were observed, marking a significant milestone for the product's potential in tumor immunotherapy.
- Preliminary Anti-Tumor Activity: Among the 11 patients, 5 achieved stable disease after 16 weeks of combination treatment, and 1 patient experienced a partial response, demonstrating early signs of anti-tumor activity for BMC128 when used alongside immune checkpoint inhibitors, potentially offering new hope for future treatments.
- Biomarker Analysis: Clinical observations aligned with translational analyses, showing increased microbiome diversity and significant evidence of immune activation in responding patients, supporting the proposed mechanism of action for BMC128 and laying a foundation for future clinical applications.
- Strategic Partnership Advancement: Evogene has entered into a licensing agreement with Lishan Biotech to further develop BMC128, reflecting the company's confidence in microbiome-based therapies for cancer treatment and indicating an acceleration in the planning for subsequent clinical development stages.
- Financial Overview: Evogene reported revenues of $334,000 for Q1 2026, a significant drop from $2.34 million in Q1 2025, indicating challenges in revenue growth that may impact investor confidence.
- R&D Collaboration Expansion: The company announced three new collaborations in the pharmaceutical sector, bringing the total to four, demonstrating Evogene's ongoing commitment to advancing small-molecule discovery and optimization despite its poor financial performance.
- Agricultural Project Progress: The AgPlenus subsidiary is advancing novel herbicide programs through collaboration with Corteva, while its internal fungicide program shows strong progress, highlighting the effective integration of AI-driven design with experimental validation, potentially providing a competitive edge in the market.
- Strategic Transformation and Outlook: Following the strategic transformation initiated in 2025, Evogene is now focused on execution, expecting to support long-term growth through enhanced technological collaborations and product pipeline expansion, despite currently facing financial losses.
- Earnings Performance: Evogene's Q1 GAAP EPS of -$0.60 misses expectations by $0.33, indicating significant challenges in profitability that could undermine investor confidence moving forward.
- Revenue Decline: The company reported revenue of $0.3M for the quarter, a staggering 100% year-over-year decline, falling short of the $0.05M forecast, reflecting severe market competition that may complicate future financing efforts.
- Cash Flow Situation: As of March 31, 2026, Evogene held approximately $13.1 million in cash and cash equivalents, with cash usage of about $2.8 million in Q1, highlighting increasing pressure on the company to maintain operations amid financial strain.
- Market Reaction Outlook: Given the poor financial performance, Evogene may face further scrutiny from Nasdaq, prompting investors to closely monitor the company's future financing and strategic adjustments to navigate its current financial challenges.
- Earnings Announcement Date: Evogene (EVGN) is set to announce its Q1 2023 earnings on May 20 before market open, with significant attention on its performance and future outlook.
- Expected Financial Metrics: Analysts project an EPS of -$0.27, reflecting a 28.9% year-over-year improvement, while revenue is estimated at $0.35 million, indicating a 100% year-over-year decline, highlighting the challenges the company faces.
- Historical Performance Review: Over the past two years, Evogene has beaten EPS estimates 63% of the time and revenue estimates 50% of the time, indicating a degree of volatility in its financial performance.
- Market Reaction Anticipation: Investors will closely monitor the upcoming earnings report to assess Evogene's financial health and competitiveness in the biotechnology sector, particularly in light of its performance in the current market environment.








