Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 98

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 4A
Chunk 98
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 to this agreement, AgPlenus was entitled to receive a license payment, ongoing research
funding, milestone payments, and royalties based on future product sales, subject to certain conditions as stipulated in the agreement.

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Breakdown of Revenues by Operating Segment:

The following table presents a breakdown of net revenues by operating
segment for the periods indicated.

  Operating Segment:          2024                                          2023                 2022             
 ──────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                              (U. S. dollars, in thousands)                                                       
  Agriculture                 $                                  5,889      $         3,791      $           876  
  Industrial application                                         2,219                1,075                   72  
  Human health                                                      80                  487                  513  
  Unallocated                                                      323                  287                  214  
  Total                       $                                  8,511      $         5,640      $         1,675  

Geographical Breakdown of Net Revenues

The following table presents net revenues by geographic breakdown
of customers as a percentage of our total net revenues for the periods indicated. This data refers to the location of the customer and
does not take into consideration the location of the end-user (to the extent it is different).

  Geographical Region:      2024      2023      2022  
 ──────────────────────────────────────────────────────
  United States               46        65        51  
  Israel                       7        16        45  
  Other                       47        19         4  
  Total                      100       100       100  

Cost of Revenues

Cost of revenues primarily consists of development costs incurred
in conjunction with our collaborations, which include: salaries and related personnel costs for our research and development employees
working on the collaborations; payments to third party suppliers and producers; and the cost of disposable materials (such as seeds, laboratory
supplies, fertilizer, water and soil), and expenses related to retaining advisors, who primarily consist of biological advisors.

Operating Expenses

Research and Development Expenses,
net: Research and development expenses primarily consist of costs related to our internal or independent research and development
activities, as opposed to development costs incurred in connection with our collaborations (which are included in cost of revenues). These
independent activities of ours include the further development of our product pipeline, enhancement and expansion of our CPB platform
and