Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 104

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 4A
Chunk 104
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. S. dollar could
increase or reduce the Company’s expenses and net loss and impact the comparability of results from period to period. The appreciation
(devaluation) of the NIS in relation to the U. S. dollar amounted to (3.1%) and (0.6%) as of December 31, 2023, and 2024, respectively.

Financing Income. Financing
income increased by approximately $6.0 million, or 400%, to approximately $7.5 million for the year ended December 31, 2024 from
approximately $1.5 million for the year ended December 31, 2023. This increase was mainly associated with accounting treatment of
pre-funded warrants and warrants issued in August 2024. Pre-funded warrants and warrants were classified as a liability on the consolidated
statements of financial position, were initially recorded at fair value and subsequently remeasured at each reporting period using the
Black-Scholes option pricing model. As a result, during 2024 we recorded financial income related to the remeasurement of warrants and
pre-funded warrants of approximately $6.5 million.

Financing Expenses. Financing
expenses increased by approximately $2.3 million, or 230%, to approximately $3.3 million for the year ended December 31, 2024 from
$1.0 million for the year ended December 31, 2023. The increase was mainly associated with accounting treatment of pre-funded warrants
and warrants issued in August 2024. As of the date of the offering in August 2024, the excess of the initial fair value of pre-funded
warrants over the transaction proceeds at the amount of approximately $2.7 million was recorded as financial expenses. The excess of initial
fair value over the transaction proceeds of Series A ordinary warrants and Series B ordinary warrants was deferred and amortized to financial
expenses over the term of the warrants. As a result, during 2024 we recorded a financial expense due to the amortization of the deferred
expenses of approximately $0.5 million.

Taxes on Income

For the years ended December 31, 2024 and 2023, we recorded
insignificant amounts for taxes on income in Israel and an insignificant amount of taxes with respect to U. S. subsidiaries.

Loss

The amount of our overall loss decreased by approximately $7.9
million, or 30.4%, to approximately $18.1 million for the year ended