Financial Performance - Total revenues for the first nine months of 2024 were approximately 6.9million,anincreaseof35.35.1 million in the same period of 2023[11]. - Revenues for Q3 2024 were approximately 1.8million,adecreaseof52.63.8 million in Q3 2023, primarily due to a 2.5millionlicensingfeerecognizedinQ32023[5].−Thenetlossforthefirstninemonthsof2024wasapproximately18.0 million, a slight improvement from a net loss of approximately 18.6millioninthesameperiodofthepreviousyear[60].−Thenetlossforthethirdquarterof2024wasapproximately8.2 million, compared to approximately 3.9millioninthesameperiodofthepreviousyear,indicatinga4.3 million increase in net loss due to decreased revenues and increased expenses[60]. - Gross profit for the nine months ended September 30, 2024, was 4,972,000,comparedto3,768,000 in the same period of 2023, indicating a gross profit margin improvement[78]. - The basic and diluted loss per share attributable to equity holders of the company for the nine months ended September 30, 2024, was (3.17),comparedto(3.91) for the same period in 2023[78]. Expenses and Liabilities - General and administrative expenses for the first nine months of 2024 increased to approximately 6.1millionfromapproximately4.8 million in the same period of 2023[30]. - Financing expenses, net for the first nine months of 2024 were approximately 0.38million,comparedtofinancingincomeofapproximately0.23 million in the same period of 2023[35]. - Operating loss for the first nine months of 2024 was approximately 17.6million,adecreasefromapproximately18.9 million in the same period of 2023[55]. - Research and development expenses for the first nine months of 2024 were approximately 13.2million,adecreasefromapproximately15.2 million in the same period of 2023[54]. - The total liabilities increased significantly to 23.3millionasofSeptember30,2024,comparedto6.9 million at the end of 2023[66]. - The company incurred transaction costs and financial expenses of approximately 1.5millionrelatedtowarrantsissuedinarecenttransaction[60].CashFlowandAssets−CashusageduringQ32024wasapproximately5.7 million, with projected cash usage for 2024 expected to be approximately 8.0−10.0 million, a decrease of 20% - 36% from approximately 12.5millionin2023[53].−Cashandcashequivalentsdecreasedto11.3 million as of September 30, 2024, down from 20.8millionattheendof2023[66].−Totalcurrentassetsdecreasedto25.4 million as of September 30, 2024, compared to 34.5millionattheendof2023[66].−Thecompanyreportedcashusedinoperatingactivitiesof14.5 million for the nine months ended September 30, 2024, compared to 15.7millionforthesameperiodin2023[68].−Thecompanyreportedanetcashprovidedbyfinancingactivitiesof4,216,000 for the nine months ended September 30, 2024, compared to 18,299,000inthesameperiodof2023[81].FutureOutlookandStrategicInitiatives−ThecompanyanticipatescontinuedrevenuegrowthinQ42024,mainlybasedonCasterra′sforecastforseed−ordersupply[29].−Thecompanyanticipatescontinuedrevenuegrowthfor2024,supportedbyongoinginvestmentsinnovelproductsandapplications[74].−TheintegrationwithGoogleCloudisexpectedtoenhancethecompany′scapabilitiesandvaluepropositioninthemarket[74].−ThecompanyisfocusingonenhancingitsAItech−enginesandexpandingitscollaborationwithGoogleCloudtodevelopagenerativeAIfoundationmodelforsmallmoleculedesign[15].−Evogenehasestablishedthreetech−engines:MicroBoostAI,ChemPassAI,andGeneRatorAI,focusingonproductdevelopmentinmicrobiomes,smallmolecules,andgeneticelementsrespectively[70].−Thecompanyisadvancingitssubsidiaries,includingLavieBioandCasterraAg,todevelopmicrobiome−basedag−biologicalsandsuperiorcastorseedvarieties[62].FundraisingActivities−Thecompanycompletedafundraisingtotaling5.5 million in gross proceeds in August 2024[7].
