Earnings call transcript: Evogene’s Q2 2025 results reveal significant cost cuts

Evogene Ltd (EVGN), a small-cap biotech company with a market capitalization of $11.69 million, reported its second-quarter 2025 earnings, revealing a greater-than-expected net loss. The company posted an earnings per share (EPS) of -$0.85, missing the forecasted -$0.61 by 39.34%. Revenue was also below expectations, coming in at $880,000 compared to the anticipated $1.69 million. Despite the earnings miss, Evogene’s stock showed resilience, with a slight pre-market uptick of 0.75% to $1.35 per share, following a previous close at $1.326.

Key Takeaways

• Evogene’s EPS and revenue fell short of forecasts, with a significant miss in revenue.
• The company implemented notable cost reductions, resulting in decreased operating expenses.
• Strategic partnerships and AI-driven innovations are emphasized as growth drivers.
• Market reaction was modestly positive, with a slight pre-market stock increase.
• Guidance points to continued investment in AI and strategic collaborations.

Company Performance

Evogene’s overall performance in Q2 2025 reflected both challenges and strategic pivots. The company’s total revenues increased to $3.2 million from $2.3 million in the same period last year. This growth was accompanied by substantial cost-cutting measures, reducing the net loss to $7.7 million from $9.8 million in 2024. The firm is capitalizing on its AI-driven platform to carve out a niche in pharmaceutical and agricultural sectors, despite a challenging financial quarter.

Financial Highlights

• Revenue: $3.2 million, up from $2.3 million YoY
• Net Loss: $7.7 million, compared to $9.8 million last year
• R&D expenses: Reduced to $4.8 million from $6.5 million
• Sales and marketing expenses: Decreased to $800,000 from $1.1 million

Earnings vs. Forecast

Evogene’s Q2 2025 results showed an EPS of -$0.85, which was below the forecasted -$0.61, indicating a 39.34% negative surprise. Revenue also fell short, at $880,000 against the $1.69 million forecast, marking a 47.93% miss. This significant deviation from expectations highlights ongoing challenges in achieving revenue targets.

Market Reaction

Despite missing earnings expectations, Evogene’s stock experienced a slight pre-market increase of 0.75%, reaching $1.35. This movement contrasts with the broader market trends and reflects investor optimism towards the company’s strategic cost reductions and future growth prospects. The stock remains within its 52-week range of $0.95 to $4.166.

Outlook & Guidance

Evogene projects an operational runway of approximately 18 months, focusing on further investments in its Campus AI platform. The company anticipates new partnerships in pharmaceuticals and agriculture, with Biomica expected to complete clinical trials by early 2026. Guidance revisions suggest continued strategic focus on AI innovations and cost management.

Executive Commentary

CEO Ofer Haviv emphasized, "We are now in the process of finalizing a new company presentation," highlighting the company’s strategic direction. He also noted, "The bottleneck today is really in the castor cultivation," pointing to operational challenges. Haviv reiterated their commitment to AI development, stating, "We continue to invest to develop Campus AI, the engine itself."

Risks and Challenges

• Revenue volatility due to market and operational hurdles
• Dependence on strategic partnerships for growth
• Workforce reductions may impact operational efficiency
• Competitive pressures in AI-driven pharmaceutical and agricultural sectors
• Economic uncertainties affecting overall market conditions

Q&A

During the earnings call, analysts inquired about the castor seed inventory, to which management confirmed several hundred tons available. Questions also focused on commercialization strategies and grain cultivation, with executives expressing confidence in improving stock performance through new collaborations and ongoing cost reductions.

Full transcript - Evogene Ltd (EVGN) Q2 2025:

Conference Moderator: Welcome to Evogene’s Second Quarter twenty twenty five Results Conference Call. All participants are present in listen only mode. Following management’s formal presentation, we will open a question and answer session. You may send questions via chat. Please type your name and company before your question.

As a reminder, this conference is being recorded 08/19/2025. Before we begin, I would like to caution that certain statements made during this earnings conference call by Evogene’s management will constitute forward looking statements that relate to future events. This presentation contains forward looking statements relating to future events and Evogene Ltd, the company, may from time to time make other statements regarding our outlook or expectations for future financial or operating results and or other matters regarding or affecting us that are considered forward looking statements as defined in The U. S. Private Securities Litigation Reform Act of 1995, the PSLRA, and other securities laws as amended, statements that are not statements of historical fact may be deemed to be forward looking statements.

Such forward looking statements may be identified by the use of such words as believe, expect, anticipate, should, planned, estimated, intend and potential or words of similar meaning. We’re using forward looking statements in this presentation when we discuss our value drivers, commercialization, efforts and timing, product development and launches, estimated market sizes and milestones, pipelines as well as our capabilities and technology. Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events, involve certain risks and uncertainties, which are difficult to predict and are not guarantees of future performance. Readers are cautioned that certain important factors may affect the company’s actual results and could cause such results to differ materially from any forward looking statements that may be made in this presentation. Therefore, actual future results, performance or achievements and trends in the future may differ materially from what is expressed or implied by such forward looking statements due to a variety of factors, many of which are beyond our control, including, without limitation, the current war between Israel Hamas and Hezbollah and any worsening of the situation in Israel, such as further mobilizations or escalation in the northern border of Israel, those described in greater detail in Evogene’s annual report on Form 20 F and in other information Evogene files and furnishes with the Israel Securities Authorities and the U.

S. Securities and Exchange Commission, including those factors under the heading Risk Factors, except as required by applicable securities laws. We disclaim any obligation or commitment to update any information contained in this presentation or to publicly release the results of any revisions to any statements that may be made to reflect future events or developments or changes in expectations, estimates, projections, and assumptions. The information contained herein does not constitute a prospectus or other offering document nor does it constitute or form part of any invitation or offer to sell or any solicitation of any invitation to offer or purchase or subscribe for any securities of Evogene or the company, nor shall the information or any part of it or the fact of its distribution form the basis of or be relied on in connection with any action, contract, commitment, or relating thereto or to the securities of Evogene or the company. The trademarks included herein are the property of the owners thereof and are used for reference purposes only.

Such use should not be construed as an endorsement of our products or services. With us on the line will be Ofer Haviv, President and CEO of Evogene and Yaron El Dade, CFO of Evogene. Now I will turn the call over to Ofer Haviv. Mr. Haviv, please go ahead.

Ofer Haviv, President and CEO, Evogene: Hello, everyone. Thank you for joining Evogene’s second quarter twenty twenty five analyst call. Today, I will provide an overview of significant developments during the second quarter and through August, resulting from the strategic transition we announced earlier this year. I will also share our outlook for the remainder of the year. Following my remarks, our CFO, Yaron El Dadd, will present the financial results and we will then open the call for questions.

I will start with the financial highlights. In reviewing our financial results for the 2025, it’s important to note that Laviv Bio, Evogene’s subsidiary and MicroBoost AI for ad operations are presented as a single line item in the consolidated profit and loss statements. This appears under the line titled loss from operations hold for sale net. This accounting treatment follows the intention to sell the majority of Laviv Bio’s activity and the MicroBoost AI for Ag as of 06/30/2025. Moving to revenue performance.

Total revenues for the 2025 were approximately $3,200,000 compared to $2,300,000 in the 2024. This increase was primarily driven by a strong seat sales from our subsidiary, Castera. In addition, during the first half of the year, Evogene initiated and executed a cost reduction plan. Most of this plan was completed by the end of the second quarter. While the financial impact is partially reflected in our first half results, we expect to see the full benefit of these reductions in the 2025.

Turning to our operation expenses. Research and development expenses for the 2025 were approximately $4,800,000 compared to approximately $6,500,000 in the same period last year. This decrease is primarily due to reduction in R and D activities at Biomica and the discontinuation of operation at Canonic. Sales and marketing expenses totaled approximately $800,000 in the 2025, down from approximately $1,100,000 in the 2024. The reduction reflects lower headcounts across several of our subsidiaries.

Overall, total operating expenses net for the 2025 were approximately $7,700,000 compared to approximately $11,100,000 in the same period last year. This significant decrease is mainly attributed to the reduced level of activity in our subsidiaries. As of the end of the 2025, Evogene’s cash and short term bank deposit stood at approximately $11,700,000. It is important to note that this cash balance does not include the expected proceeds from the sales of LaVibio’s assets and the MicroBoost AI for Abtech engines to ICL. This transaction was completed during the 2025.

Evogene is currently undergoing a strategic shift focused on maximizing the value of Campus AI, our proprietary platform for AI driven discovery and optimization of small molecules in both the pharmaceutical and agriculture industries. As we shared earlier this year, our strategic priorities include strengthening Campus AI as core asset expanding collaboration efforts in small molecule drug discovery integrating AgPlanos, our subsidiary focused on crop protection product development based on small molecules into Evogene and expanding its business collaborations enhancing cash flow, primarily from our subsidiaries, and streamlining operational expenses across Evogen and its subsidiaries. We executed several impactful actions aligned with this strategy during the second court quarter and through August. With respect to the strengthening our campus AI, in June, we announced the completion of version one of our first in class generative AI foundation model for small molecule design developed in collaboration with Google Cloud. This model significantly enhanced Campus AI’s capability by addressing a major challenge across pharma and ag tech, the identification of novel molecules meeting multiple complex criteria Trained on a proprietary dataset of approximately 38,000,000,000 molecular structures and deployed on Google’s advanced AI infrastructure, this model lays the groundwork for continued technological leadership and future product development.

As part of our efforts for collaboration in pharma, last week, we announced a collaboration with professor Ehud Gazit from Tel Aviv University, a global expert in bi biomolecular self assembly to develop a small molecule therapeutics targeting disease caused by the accumulation of metabolites such as gout and p q PKU. This collaboration leverages Campus AI to identify novel compounds that inhibit the self assembly of metabolites, a promising and largely untapped therapeutics area. To align our operation with the new strategic direction and as part of the integration of ACT LYNN’s activity into Evogene, we implemented significant organizational change, including a reduction of over 40% in headcount at AgPlanos. We expect this change to allow for a more effective use of Campus AI to enhance AgPlanos pipeline. The most important event that took place since our last analyst call was the transaction with ICL that significantly enhanced our cash flow.

In April, we announced the sale of most of LaVeBayo’s activity to ICL for a total consideration of $15,250,000. In addition, Evogene MicroBoost AI platform for agriculture was sold to ICL for $3,500,000. As part of the transaction, Lavie Bio redeemed the SAFE investment, which was made by an ICL affiliate. This transaction was completed in July and generated cash for Evogene, both directly through the sale of MicroBoost AI for AG and indirectly through dividends as Evogene remains a major shareholders in LaVeBio and preserve the upside from an continuing collaboration agreement between Lavie Bio and one of its existing partner, which is excluded from the transaction. As I stated, our strategic priorities included streamlining operational expenses across Evogene and its subsidiaries.

I would like to share with you the steps taken in Biomica and Evogene. In the second quarter, we began a streamlining process at Biomica, which included a significant workforce reduction and organizational change at the management level. During this time, mister Elhan Hever, CEO of Biomica, stepped down from his role due to health reasons. We extend our best wishes for his full and speedy recovery. In the interim, I have assumed direct responsibility for overseeing Biomica’s operations.

Biomica is now focused on two key goals, completion of its clinical trial expected in early twenty twenty six and securing partners to take the lead on its development programs. As of now, Biomeca holds approximately $4,000,000 in cash, enough to complete the clinical trial. We will share more updates as progress continue. With respect to Evogene, to support our new strategic focus, we implemented major organizational structuring, which included workforce reduction of approximately 30%. As stated, the effect of this organizational streamlining will be reflected in our financial report starting the 2025.

In addition to this impactful action, we succeeded in strengthening the company’s financial position by offering new shares, supporting our ability to implement our strategy over time. In June, we successfully raised $4,400,000 through our at the market facility with Lake Street Capital Market at an average price of approximately $2.31 per share based on our shelf registration. We have no further capacity under this ATM facility. The offer met with strong investor interest signaling confidence in our strategic direction. Combined with the LaVie Bio transaction, I have already described, we now have a solid financial foundation and operational runway of approximately eighteen months.

Let me now outline our expectation for the remainder of 2025. As stated earlier, our new strategy centers around a single computational engine, our campus AI platform for accelerating small molecule based innovation. Our primary target is to continue investing in the unique offering of our engine cutting edge. To maintain our competitive edge, we intend to continue advancing our technology, including partnership with global tech leaders such as Google and at elevating our platform performance to new heights. We intend for this platform to serve two key verticals, pharma for the discovery and optimization of small molecules therapeutics, agriculture for the development of crop protection products.

With respect to the pharma vertical, the collaboration engagement with Tel Aviv University is part of a broader plan to establish Evogene’s partner ecosystem in pharma across academic and industry in Israel and internationally. This is the first of several such initiatives we are currently advancing. We will establish a dedicated business development arm led by a senior executive to accelerate growth in the pharma vertical. In agriculture, we will continue to operate through AgPlanos, which maintain strategic collaboration with Bayer and Corteva. We anticipate further growth in this area, including new partnerships later this year with both existing and new partners.

Now let’s continue with our expectation for our other subsidiaries in line with our strategic focus, Bio. Following the sale of the majority of the company’s activity, Lavie Bio will maintain only its existing collaboration agreement with its existing partner and is expected to distribute funds to its shareholders with Evogene as the majority holder. No additional activity are expected. Biomica is expected to complete its clinical trial in early twenty twenty six and continue efforts to secure partners to lead its current development programs. No additional activities are expected.

Our plans for Castera, our wholly owned subsidiary offering an integrated solution for growing Castor as a feedstock differ from our other subsidiaries. Even though it’s not directly tied to our strategy and core technology, we intend to continue supporting the company’s activity in the future. Over the past few months, Castera has began entering new markets and marketing channels, and we see strong potential mix operations to build a sustainable revenue stream. The company is advancing multiple business initiatives, and we will update you as these develop develop. In summary, we are progressing steadily with the execution of our new strategy.

The step taken this quarter reflect a clear commitment to focus operational discipline and long term value creation. Beginning in September, I will have the honor of presenting Evogene’s update corporate strategy at selected industry conferences and professional events. I encourage you to follow our official publications for updates, and I would welcome the opportunity to connect with you at these engagements. We will continue to keep you, our shareholders, partners, and analysts informed as we advance toward our goals. Thank you for your continued support.

Yaron Ndad, Evogene’s CFO, will now present our financial results for the second quarter. Thank you.

Yaron El Dade, CFO, Evogene: Thank you, Ofer. As of 06/30/2025, Evogene had held consolidated cash, cash equivalents and short term bank deposits of approximately $11,700,000 The consolidated cash usage during the 2025 was approximately $2,400,000. Excluding NaviBio and Bionica, Evogene and its other subsidiaries used approximately $1,000,000 in cash during the 2025. Revenues for the 2025 were approximately $3,200,000 compared to approximately $2,300,000 in the same period the previous year, reflecting an increase of approximately $900,000. This increase was primarily driven by higher revenues recognized by Castera attributed to sell to seed sales on the 2025, partially offset by a decrease in ag premise revenues mainly due to revenues from a licensing agreement with Bayer recognized in 2024.

Revenue revenues for the 2025 were approximately $900,000, a slight increase compared to approximately $600,000 in the same period last year. Research and development expenses net of nonrefundable grants for the 2025 were approximately $4,800,000 a decrease of approximately $1,700,000 compared to $6,500,000 in the 2024. The decrease was primarily due to reduced r and d expenses in Biomica and the cessation of economics operation at the 2024. In the 2025, r and d expenses were approximately $2,300,000, down from $2,900,000 in the same period of 2024. This decrease is mainly attributable to the decreased expenses in Biomica and Castellan.

Sales and marketing expenses for the 2025 were approximately $800,000, a decrease of approximately $300,000 compared to approximately $1,100,000 in the same period last year. The decrease was mainly due to reductions in Evogene, Agplanus, and Biomica’s personnel costs. Sales and marketing expenses for the 2025 were approximately $400,000, reflecting a decrease of approximately $200,000 compared to approximately $600,000 in the 2024. The decrease was mainly attributable to reduced expenses in Evogene, Biomica, and AdPlanus as mentioned above. General and administrative expenses for the 2025 decreased to approximately $2,300,000 from approximately $2,900,000 in the same period last year.

The decrease is mainly attributable to lower personnel costs in Evogene, a decrease in DNO insurance costs and lower noncash compensation expenses in Castera, Biomica and Alplanus, General and administrative expenses for the 2025 decreased to approximately $1,100,000 compared to approximately $1,400,000 in the same period of the previous year, mainly due to decreased expenses in Evogene as mentioned above. Other income of approximately $191,000 was recorded in the 2025 as part of the accounting treatment related to a sublease agreement. The decision to cease Canonics operation in the 2024 resulted in other expenses of approximately $500,000, primarily due to the impairment of fixed assets recorded in the 2024. The operating loss for the 2025 was approximately $6,100,000 a significant decrease from approximately $9,400,000 in the same period of the previous year, mainly due to decreased operating expenses as mentioned above. The operating loss for the 2025 was approximately $3,100,000, a decrease from $4,600,000 in the same period of the previous year, mainly due to decreased operating expenses as mentioned above.

Financing income net for the 2025 was $732,000 compared to financing income net of $373,000 in the same period of the previous year. The increase is mainly associated with accounting treatment of prefunded warrants and warrants issued in August 2024 fundraising. As a result, during the 2025, the company recorded net financial income related to prefunded warrants and warrants of approximately $663,000. Financing expenses net for the 2024 ’5 were $393,000 compared to financing income net of $97,000 in the same period of the previous year. The decrease is mainly associated with accounting treatment of prefunded warrants and warrants issued in August 2024 fundraising.

Loss from operations held for sale, net, for the 2025 was approximately $2,200,000 compared to approximately $800,000 in the same period of 2024. For the 2025, the loss from operations held for sale net was approximately $1,200,000 compared to approximately $1,400,000 in the second quarter of the previous year. These amounts mainly reflect the financial results of Lavie Bio and expenses related to the development and and maintenance of MicroBoost AI for Ag, which are presented as a single line item in the consolidated statements of profit and loss. This accounting treatment follows the intention to sell the majority of Lavie Bio’s activities and the MicroBoost AI for Ag as of 06/30/2025. All prior periods amounts were reclassified to confirm to this presentation.

The net loss for the 2025 was approximately $7,700,000 compared to approximately $9,800,000 in the same period last year. The $2,100,000 decrease in net loss was primarily due to decreased operating expenses and increased financing income net, partially offset by the increased loss from operations held for sales net and reduced revenues. The net loss for the 2025 was approximately $4,700,000 compared to approximately $6,000,000 in the same period last year. The $1,300,000 increase decrease in net loss was primarily due to decreased operating expenses, decreased loss from operations held for sale and increased revenues partially offset by increased financing expenses as mentioned above.

Conference Moderator: Welcome to Evogene’s second quarter twenty twenty five results.

Q&A Moderator: Thank you. Ladies and gentlemen, at this time, we will begin the question and answer session. Before the question. The first question, how much caster seed inventory do you have today, both finished and expected to be finished after the harvest? And if your current customer does not place a follow on order, what are your plans to commercialize this inventory?

Ofer Haviv, President and CEO, Evogene: Hi. This is Ofer. Ben, great to hear from you. So I I won’t disclose the specific amount of inventory we have, but we have a few 100 of tons in in castor seed, which they are ready. And we have intention to sell those seeds to our partners.

But in any event, as I mentioned in previous call, Castellan is also focusing on using the our seeds in order to grow and and then through subcontractors to grow grain and to sell the grain to our partners. Because in some cases, we feel that we have a better understanding how to utilize and to grow caster in certain territory compared to what our partners are are doing. So I I don’t at least in this point of time, I don’t have question marks on how we are going to benefit from our core caster seed inventory. It could be through a direct sale, or we are going to use it to grow caster by ourselves and then to sell the grain. And in this in in this area, we already conduct field trials both in Brazil and in Kenya, evaluating our growth protocols in a in a in a way that we believe we should the industry should grow faster.

And it looks that we in Brazil, we already have some initial results and look and the looks very, very promising. We are now waiting to see the results in Kenya, but I think that we are also in the right direction there as well. So I hope that I addressed your question.

Q&A Moderator: The next question. What steps need to occur before you can announce a castor oil business?

Ofer Haviv, President and CEO, Evogene: If I understand the question correctly, so it’s mean that if we are going to enter into the oil business itself, so at least in this stage, we are putting ourselves we are entering into the area of grain cultivation and selling grain to partners. And there is enough today both in Africa, but also in Brazil, crushing oil factory that are eager to receive more and more castor grain because the demand for castor oil is is still high and and and and increasing actually. So the bottleneck today is really in the castor cultivation, and we believe that our variety with their uniqueness and and the way that we want to use them as part of our growth protocol are are going to address the demands in a very, very competitive expenses cost to grow the the the customer itself. So I think that this is what as a show that you should wait to hear from us on the results coming from our commercial field trials in growing a castor for green using our seed variety.

Q&A Moderator: The next question. The stock is still low. When will it start going up?

Ofer Haviv, President and CEO, Evogene: This is an interesting question. You know, we we never control the the stock market, but what I can say is that we are now at the end of a very in at the end of a long process of analyzing our strategy, which we presented today, I hope, in a very clear way. We are now in the process of finalizing a new company presentation that and we’re also going to have a new website that will reflect the new strategy, and we are planning to launch a presentation during September and then other communication tools through the end of the year. I’m planning to start to meet with investors and and and pitch the new company strategy. And most important most important, when they will start to announce a new collaboration agreement both in pharma and also in ad that will strengthen and and and I the the value the value proposition of our business model and our technology, I believe the show will start to react to this announcement.

So I I am quite positive about the new avenue the company is focusing on. Our and the board is standing behind management, and I believe that together, I’m expecting to start to see, and I hope and and believe that the capital market will start to react that the company and your strategy and the achievement ahead of us.

Q&A Moderator: The next question, how representative are operating expenses in q two twenty twenty five or going forward operations? Are all cost reductions fully reflected in the numbers?

Ofer Haviv, President and CEO, Evogene: So the answer is yes. And, actually, what we expected to see in the third and the fourth quarter, we are expecting to see a continued decline decline in in the company expenses, I believe, in all different expense item, r and d, business development marketing and sales and also in the g and a. So, actually, we’re even expecting to see a continued reduction in our expenses.

Q&A Moderator: The next question. What was revenue in q two twenty five? How should we think about peak sales given recent results, and how long should it take to reach peak sales? So

Ofer Haviv, President and CEO, Evogene: I think that we are now in and we’re talk when when we’re talking about cell, so it’s this specific words is relevant for Clusterra because Clusterra is currently our only activity that produce sales on a regular basis. Because the the other two area of activity, like ag and pharma, which are relayed on our campus technology, It will be more the collaboration type of agreement, which will include r and d fee and milestone and and royalty. But when talking about sales, so probably the it’s referred to Castera activity, which is selling seeds. And in the future, we are expecting also to sell green. So I think that the what we are now doing in Castera is talking with mega partners, not one, more than one, which show interest to expand their activity in in castor oil.

They’re all looking for a way to solve, which we what we believe is the main challenge in the customer industry, the cost to grow the grain that you are using them as the source for the oil. I think here, this is the main limitation, and we believe that our variety and the growth protocol that we develop, it’s which is the target is to maximize yield versus expenses. Not just to maximize yield, but maximize yield versus and expenses. This is the the right approach. We are now in a quite advanced stage in validate this concept both in Brazil and in Africa.

And I think that the the the the from the initial indication that we received at least in this stage in Brazil, there is a lot of inch I mean, in the those field trial, it create a lot of interest, and I hope that we’ll be able to disclose more and more information during the next quarters.

Q&A Moderator: The next question for Kempas for Kemp a PassAI platform. What catalyst milestones should we expect in the next twelve to eighteen months to evaluate progress?

Ofer Haviv, President and CEO, Evogene: So Campaci, this is the tech the tech engine that both our division are using it, the pharma division and the ad division. So I can think about two type of catalyst. One, which it can come from the pharma or from the ag, and this is a announcement press releases on a new collaboration with a partner that are interesting in getting the benefit from the Campus AI, meaning that they would like to have a a drug candidate targeting their their their protein of interest, and they would like, you know, to benefit from Campus AI or strategic collaboration between AgPlans, our subsidiary focusing on fraud protection with companies such as Bayer, Corteva, BASF, Syngenta, FMC, and other. Bear in mind that, you know, currently, we already have two strategic collaboration. One one is Spire, one is Corteva that I can only get already engaging.

So this is the type of and type and one of press releases that you may that we might release during next year announcing more and more collaborations, which demonstrate the value of our technology, Campus AI. In addition in addition, we are we continue to invest to develop Campus AI, the engine itself. And and we are doing it in some cases together with partners such as Google as we announced in May this year May or June this year. So we are now talking with a big tech companies, and we are exploring a different opportunity to continue the development of our tech engine together with them. And and this is another type of announcement that can come when we’ll disclose new capabilities, breakthrough capabilities that we succeed to develop as part from our campus AI generative engine.

And and we are and we are very, very proud to announce our foundation model that was developed together with Google during the first half of this year, and we already see the positive effect that we have in this in and and that this development give us in the ongoing discussion we are conducting with potential partner both in the pharma and in the ag as well.

Q&A Moderator: There are no further questions at this time. Mister Habib, would you like to make your concluding statement?

Ofer Haviv, President and CEO, Evogene: Yes. Thank you. I would like to thank you for taking the time to participate in this conversation, and I hope to see you all at our next meeting. Once again, thank you all.

Q&A Moderator: Thank you. This concludes Evogene’s second quarter twenty twenty five quarter results conference call. Thank you for your participation. You may go ahead and disconnect.

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