Revenue volatility remains a primary concern, evidenced by a 30.91% year-over-year decline in recent periods and a negative gross margin of -6.3% reported in 2026Q1.
Evogene Ltd. (EVGN) annual income statement — 14-year revenue, gross profit & net income history
| Metric | TTM | Dec'25 | Dec'24 | Dec'23 | Dec'22 | Dec'21 | Dec'20 | Dec'19 | Dec'18 | Dec'17 | Dec'16 | Dec'15 | Dec'14 | Dec'13 | Dec'12 |
|---|
| Sales/Revenue | 1.31M | 3.85M | 5.58M | 2.98M | 1.68M | 930K | 1.04M | 753K | 1.75M | 3.38M | 6.54M | 11.13M | 14.51M | 17.58M | 17.07M |
| Revenue Growth % | -80.43% | -30.91% | 87.02% | 78.03% | 80.11% | -10.58% | 38.11% | -56.9% | -48.33% | -48.3% | -41.23% | -23.31% | -17.46% | 2.98% | - |
| Cost of Goods Sold | 2.93M | 4.09M | 2.38M | 1.49M | 909K | 767K | 574K | 334K | 1.45M | 2.85M | 5.64M | 8.26M | 9.71M | 10.11M | 9.55M |
| COGS % of Revenue | - | 106.25% | 42.68% | 49.97% | 54.27% | 82.47% | 55.19% | 44.36% | 83.11% | 84.15% | 86.22% | 74.18% | 66.91% | 57.53% | 55.95% |
| Gross Profit | -1.62M | -241K | 3.2M | 1.49M | 766K | 163K | 466K | 419K | 295K | 536K | 901K | 2.87M | 4.8M | 7.47M | 7.52M |
| Gross Margin % | -123.87% | -6.25% | 57.32% | 50.03% | 45.73% | 17.53% | 44.81% | 55.64% | 16.89% | 15.85% | 13.78% | 25.82% | 33.09% | 42.47% | 44.05% |
| Gross Profit Growth % | - | -107.54% | 114.28% | 94.78% | 369.94% | -65.02% | 11.22% | 42.03% | -44.96% | -40.51% | -68.65% | -40.15% | -35.69% | -0.7% | - |
| Operating Expenses | 11.91M | 13.79M | 22M | 23.72M | 27.71M | 31.12M | 25.28M | 21.59M | 20.28M | 22.48M | 21.99M | 20.8M | 20.06M | 16.19M | 10.65M |
| OpEx % of Revenue | - | 357.98% | 394.5% | 795.54% | 1654.15% | 3345.81% | 2430.77% | 2866.53% | 1161.08% | 664.98% | 336.24% | 186.85% | 138.23% | 92.08% | 62.36% |
| Selling, General & Admin | 5.44M | 5.76M | 8.98M | 7.53M | 10.41M | 9.99M | 7.99M | 5.79M | 5.6M | 5.5M | 5.58M | 6.35M | 6.04M | 5.08M | 3.39M |
| SG&A % of Revenue | - | 149.55% | 160.95% | 252.41% | 621.79% | 1074.3% | 768.56% | 769.46% | 320.44% | 162.56% | 85.4% | 57.02% | 41.6% | 28.9% | 19.88% |
| Research & Development | 6.27M | 7.99M | 12.51M | 16.2M | 20.79M | 21.13M | 17.29M | 15.79M | 14.69M | 16.99M | 16.41M | 14.45M | 14.02M | 11.11M | 7.25M |
| R&D % of Revenue | - | 207.47% | 224.33% | 543.13% | 1241.31% | 2271.51% | 1662.21% | 2097.08% | 840.64% | 502.43% | 250.84% | 129.83% | 96.63% | 63.18% | 42.48% |
| Other Operating Expenses | 198K | 37K | 514K | 0 | -3.5M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Operating Income | -13.53M | -14.03M | -18.8M | -22.23M | -26.94M | -30.95M | -24.81M | -21.17M | -19.99M | -21.95M | -21.09M | -17.92M | -15.26M | -8.72M | -3.13M |
| Operating Margin % | -1034.97% | -364.24% | -337.17% | -745.51% | -1608.42% | -3328.28% | -2385.96% | -2810.89% | -1144.19% | -649.13% | -322.46% | -161.03% | -105.13% | -49.6% | -18.31% |
| Operating Income Growth % | - | 25.37% | 15.42% | 17.48% | 12.96% | -24.74% | -17.24% | -5.89% | 8.92% | -4.07% | -17.68% | -17.47% | -74.93% | -178.98% | - |
| EBITDA | -12.63M | -12.89M | -17.42M | -20.93M | -24.36M | -28.72M | -22.09M | -18.4M | -17.97M | -19.8M | -18.81M | -15.49M | -13.01M | -6.68M | -1.29M |
| EBITDA Margin % | -966.49% | -334.54% | -312.41% | -701.91% | -1454.39% | -3088.06% | -2123.75% | -2443.16% | -1028.56% | -585.68% | -287.61% | -139.17% | -89.64% | -37.99% | -7.56% |
| EBITDA Growth % | 21.34% | 26.02% | 16.76% | 14.08% | 15.17% | -30.03% | -20.06% | -2.38% | 9.26% | -5.27% | -21.45% | -19.07% | -94.74% | -417.35% | - |
| D&A (Non-Cash Add-back) | 895K | 1.14M | 1.38M | 1.3M | 2.58M | 2.23M | 2.73M | 2.77M | 2.02M | 2.15M | 2.28M | 2.43M | 2.25M | 2.04M | 1.83M |
| EBIT | -13.46M | -13.34M | -14.74M | -21.83M | -29.59M | -30.12M | -25.94M | -18.79M | -20.78M | -20.83M | -21.09M | -17.92M | -15.26M | -8.72M | -3.13M |
| Net Interest Income | -1.9M | 575K | 833K | 1.08M | -59K | -112K | -39K | 405K | 1.27M | 2M | 2.25M | 2.33M | 2.02M | 954K | 780K |
| Interest Income | 2.96M | 2.47M | 957K | 1.25M | 182K | 291K | 230K | 759K | 1.41M | 2.13M | 2.4M | 2.53M | 2.22M | 1.04M | 869K |
| Interest Expense | 4.86M | 1.89M | 124K | 171K | 241K | 403K | 269K | 354K | 141K | 129K | 155K | 195K | 200K | 87K | 89K |
| Other Income/Expense | -2.04M | 536K | 4M | 285K | -2.81M | 521K | -1.36M | 2.08M | -793K | 1.12M | 1.53M | 708K | 726K | -157K | 678K |
| Pretax Income | -15.56M | -13.5M | -14.81M | -21.95M | -29.75M | -30.43M | -26.17M | -19.09M | -20.78M | -20.83M | -19.56M | -17.21M | -14.53M | -8.88M | -2.45M |
| Pretax Margin % | -1190.74% | -350.32% | -265.52% | -735.95% | -1776.36% | -3272.26% | -2516.73% | -2535.33% | -1189.58% | -616% | -299.02% | -154.67% | -100.13% | -50.5% | -14.34% |
| Income Tax | 5K | 1K | 9K | 19K | 90K | 13K | 32K | 24K | 30K | 11K | 36K | 0 | 0 | 0 | 74K |
| Effective Tax Rate % | -0.03% | -0.01% | -0.06% | -0.09% | -0.3% | -0.04% | -0.12% | -0.13% | -0.14% | -0.05% | -0.18% | 0% | 0% | 0% | -3.02% |
| Net Income | -9.07M | -8.48M | -16.48M | -23.88M | -26.64M | -27.79M | -23.37M | -18.11M | -20.76M | -20.84M | -19.59M | -17.21M | -14.53M | -8.88M | -2.52M |
| Net Margin % | -694.19% | -220.22% | -295.59% | -800.77% | -1590.33% | -2988.49% | -2247.5% | -2405.31% | -1188.21% | -616.33% | -299.57% | -154.67% | -100.13% | -50.5% | -14.77% |
| Net Income Growth % | 36.34% | 48.53% | 30.96% | 10.36% | 4.16% | -18.91% | -29.05% | 12.75% | 0.38% | -6.36% | -13.82% | -18.47% | -63.66% | -252.02% | - |
| Net Income (Continuing) | -15.57M | -13.5M | -14.82M | -21.96M | -29.84M | -30.45M | -26.21M | -19.11M | -20.81M | -20.84M | -19.59M | -17.21M | -14.53M | -8.88M | -2.52M |
| Discontinued Operations | 822K | 5.67M | -3.24M | -3.99M | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 9.06M | 12.06M | 16.29M | 16.63M | 6.86M | 9.77M | 10.84M | 10.07M | 253K | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -0.74 | -1.08 | -2.89 | -5.23 | -6.46 | -0.68 | -0.64 | -0.70 | -0.81 | -0.81 | -0.77 | -0.68 | -0.58 | -0.45 | -0.14 |
| EPS Growth % | 59.51% | 62.63% | 44.74% | 19.04% | -850% | -6.25% | 8.57% | 13.58% | 0% | -5.19% | -13.24% | -17.24% | -28.89% | -221.43% | - |
| EPS (Basic) | - | -1.08 | -2.89 | -5.23 | -6.46 | -0.68 | -0.64 | -0.70 | -0.81 | -0.81 | -0.77 | -0.68 | -0.58 | -0.45 | -0.14 |
| Diluted Shares Outstanding | 12.2M | 7.87M | 5.7M | 4.57M | 4.12M | 41.01M | 36.55M | 25.75M | 25.75M | 25.73M | 25.44M | 25.31M | 25.05M | 19.73M | 18.42M |
| Basic Shares Outstanding | 12.2M | 7.87M | 5.7M | 4.57M | 4.12M | 41.01M | 36.55M | 25.75M | 25.75M | 25.73M | 25.44M | 25.31M | 25.05M | 19.73M | 18.42M |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - | - | - |
Quick answers to the most common questions about buying EVGN stock.
For fiscal year 2025, Evogene Ltd. (EVGN) reported total revenue of $3.9M. This represents a 77.4% decline compared to $17.1M in 2012.
Evogene Ltd. (EVGN) reported a net loss of $8.5M for the fiscal year ending 2025.
Evogene Ltd. (EVGN) reported an operating income of $-14.0M, resulting in an operating profit margin of -364.2%. This margin reflects the operational efficiency of the business before interest and taxes.
Evogene Ltd. (EVGN) generated $-0.2M in gross profit for the year, representing a gross profit margin of -6.3%. This demonstrates the company's core pricing power and production efficiency.
Key Metrics
Top Statement Risk
Persistent cash burn rate
Volatile Revenue Streams Impede Growth
As reported in financial statements, Evogene's revenue trajectory remains highly erratic, characterized by a 30.91% year-over-year decline in recent periods, which underscores the company's reliance on non-recurring milestone payments rather than a stable, predictable commercial revenue base across its diverse subsidiary portfolio.
The revenue profile suggests a lack of consistent commercial traction, as the company oscillates between transactional spikes and significant quarterly contractions. This volatility implies that the firm's growth is currently driven by sporadic project-based milestones rather than a scalable, recurring business model.
Structural Margin Erosion Remains Prevalent
Based on reported figures, Evogene's gross margin has deteriorated into negative territory at -6.25%, indicating that the direct costs associated with its current product offerings, particularly in the cannabis and seed segments, are currently exceeding the revenue generated from these specific commercial activities.
The inability to maintain positive gross margins suggests that the company's current production and distribution efforts are not yet optimized for profitability. Investors should monitor whether this margin compression is a temporary byproduct of scaling new product lines or a structural issue inherent in the company's cost-to-revenue ratio.
Operating Leverage Constrained by R&D
According to recent SEC filings, Evogene's operating income remains deeply negative, with an operating margin of -364%, demonstrating that the company's high fixed-cost base for R&D and computational infrastructure is not scaling efficiently relative to the current, highly inconsistent top-line revenue performance.
The persistent gap between operating expenses and revenue suggests that the company is currently prioritizing long-term platform development over near-term operational efficiency. This structure implies that significant revenue growth will be required to achieve operating leverage, as current overhead remains decoupled from commercial output.
High Fixed Costs Burden Operations
As evidenced by the income statement data, Evogene's cost structure is dominated by substantial R&D and SG&A expenditures, which consistently dwarf quarterly revenue, creating a persistent structural deficit that necessitates frequent capital infusions to sustain the company's ongoing computational and laboratory-based research initiatives.
The company's expense discipline appears secondary to the necessity of funding its multi-subsidiary pipeline, leading to a burn rate that remains a primary concern for stakeholders. This cost structure warrants further investigation into whether management can successfully transition toward a leaner, licensing-focused model to reduce its reliance on capital markets.