Learnings from the Earnings – Who’s Up? Who’s Down?

Evogene (EVGN)

The Top Line. Revenue was reported as $1.7 million. Gross profit for the full year of 2018 was approximately $0.3 million. R&D expenses for the full year of 2018 were approximately $14.7 million. Operating loss for the full year of 2018 was approximately $20.0 million in comparison to approximately $21.9 million in the full year of 2017. The net financing expenses for the full year of 2018 were approximately $0.8 million in comparison to net financing income of approximately $1.1 million during the full year of 2017.

The Big Highlights. Establishment of Lavie Bio, a subsidiary focused on ag-biologicals. Evogene’s activities relating to discovery, optimization and development of sustainable ag-biological products are being transferred to this new subsidiary. Promising results in bio-stimulants for corn and wheat in 2018 field trials. Advancement in the development of bio-pesticides focusing on specialty crops – hits have shown promising results and will be examined in additional field trials.

Ofer Haviv, Evogene’s President and CEO, stated: “Looking forward, we expect 2019 to be a pivotal year, as we further develop our product pipelines and continue to evolve our organization. We expect to finalize the new organizational structure while strengthening Evogene’s positioning as a technological hub.  In parallel, each subsidiary will continue its efforts with respect to its internal pipelines, existing and new collaborative activities, while securing additional financial resources, if and when needed.”

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