Company: EVGN
Filing Date: 2025-03-27
Form Type: 20-F
Source: 0001178913-25-001092
Chunk: 100

Company: Evogene Ltd.
Filing Date: 2025-03-27
Form: 20-F
Item: Item 4A
Chunk 100
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 a change in fair value of the marketable securities we
held, which consist of money market funds, corporate bonds and government treasury notes; interest expense for our operating lease liability;
expenses related to a revaluation of outstanding convertible amount of $10 million invested in our subsidiary Lavie Bio under a SAFE agreement
with ICL; and expenses related to bank charges and commissions. The interest due on government grants is also considered a financial expense
and is recognized beginning on the date on which we receive the grant until the date on which the grant is expected to be repaid.

Taxes on Income

We do not generate taxable income in Israel, as we have historically
incurred operating losses resulting in carryforward tax losses totaling approximately $218 million as of December 31, 2024, to be
carried forward indefinitely to future tax years. Accordingly, we do not expect to pay taxes in Israel for the foreseeable future, until
we have taxable income after the full utilization of our carryforward tax losses.

Our U. S. subsidiaries, Evogene Inc., Lavie Bio Inc., Lavie Bio
Tech Inc., Taxon Biosciences Inc. and AgPlenus Inc. are subject to U. S. income taxes. In 2024, the tax rates applicable to those companies
were approximately 21% and 3.41% (federal tax and state tax, respectively, where those companies operate).

Segment Data

We divide our operations into three operating segments - 
agriculture, human health and industrial applications, as follows:

  Agriculture: our agriculture segment includes our division and subsidiaries engaged in agricultural                                       

  Human Health: our human health segment focuses mainly on discovery and development of human  

  Industrial Applications: our industrial applications segment focuses on the development and             

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The following table presents our revenues and operating loss by
segment for the periods presented:

                                    Agriculture                                     Industrial Applications                                                    
 ───────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────────
                                    (U. S. dollars, in thousands)                                                                                              
  Year ended December 31, 2024                                                                                                                                 
  Revenues                          $                                    5,889      $                             2,219           80         323        8,511  
  Operating loss                    $                                   (9,262      $                            (2,411       (7,240      (3,297      (22,210  
  Year ended December 31, 2023