Europeans angry with Musk still aren't buying his cars as Tesla sales drop for fifth month in a row
Tesla sales fell 28% last month in 30 European countries even as the overall market for electric vehicles expanded sharply, according to the European Automobile Manufacturers' Association. The poor showing comes after Tesla's billionaire CEO had promised a 'major rebound' was coming last month, adding to a recent buying frenzy among investors.
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Evogene Ltd (EVGN) Q2 2025 Earnings Call Highlights: Revenue Growth and Strategic Shifts Amid ...
This article first appeared on GuruFocus. Total Revenue (H1 2025): $3.2 million, up from $2.3 million in H1 2024. Research and Development Expenses (H1 2025): $4.8 million, down from $6.5 million in H1 2024. Sales and Marketing Expenses (H1 2025): $800,000, down from $1.1 million in H1 2024. Total Operating Expenses (H1 2025): $7.7 million, down from $11.1 million in H1 2024. Cash and Short-term Bank Deposits (End of H1 2025): $11.7 million. Operating Loss (H1 2025): $6.1 million, down from $9.4 million in H1 2024. Net Loss (H1 2025): $7.7 million, down from $9.8 million in H1 2024. Cash Usage (Q2 2025): $2.4 million. Financing Income (H1 2025): $732,000, up from $373,000 in H1 2024. Loss from Operations Held for Sale, Net (H1 2025): $2.2 million, up from $0.8 million in H1 2024. Warning! GuruFocus has detected 6 Warning Signs with EVGN. Release Date: August 19, 2025 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Positive Points Evogene Ltd (NASDAQ:EVGN) reported an increase in total revenues for the first half of 2025 to approximately $3.2 million, up from $2.3 million in the first half of 2024, driven by strong seed sales from its subsidiary Casterra. The company executed a cost reduction plan, resulting in a significant decrease in operating expenses, with total operating expenses net for the first half of 2025 at approximately $7.7 million compared to $11.1 million in the same period last year. Evogene Ltd (NASDAQ:EVGN) completed the sale of Lavie Bio's assets and the MicroBoost AI for Ag tech-engine to ICL, generating significant cash flow and enhancing the company's financial position. The company is focusing on maximizing the value of its ChemPass AI platform, which has been strengthened by the completion of the GeneRator AI foundation model developed in collaboration with Google Cloud. Evogene Ltd (NASDAQ:EVGN) successfully raised $4.4 million through its ATM facility, providing a solid financial foundation and operational runway of approximately 18 months. Negative Points Evogene Ltd (NASDAQ:EVGN) is undergoing a strategic shift, which includes significant organizational changes and workforce reductions, potentially impacting employee morale and operational stability. The company reported a net loss for the first half of 2025 of approximately $7.7 million, although this was a decrease from the $9.8 million loss in the same period last year. There is uncertainty regarding the commercialization of Casterra's castor seed inventory, as the company is exploring options to sell seeds directly or grow and sell grain. The ongoing geopolitical situation in Israel, including the conflict with Hamas and Hezbollah, poses risks and uncertainties that could affect the company's operations and financial performance. Evogene Ltd (NASDAQ:EVGN) faces challenges in achieving peak sales and establishing new partnerships, particularly in the pharma and agriculture sectors, which are crucial for future growth. Q & A Highlights Q: How much castor seed inventory does Evogene have, and what are the plans if the current customer does not place a follow-on order? A: Ofer Haviv, President and CEO, stated that while he won't disclose specific inventory amounts, Evogene has a few hundred tons of Casterra seed ready for sale. The company plans to sell these seeds to partners or use them to grow grain through subcontractors, as they have a better understanding of cultivation in certain territories. Initial results from trials in Brazil and Kenya are promising. Q: What steps need to occur before Evogene can announce a castor oil business? A: Ofer Haviv explained that Evogene is currently focused on grain cultivation and selling grain to partners. There is significant demand from oil factories in Africa and Brazil. The main challenge is the cost of growing castor, which Evogene aims to address with its unique variety and growth protocols. Q: The stock is still low. When will it start going up? A: Ofer Haviv mentioned that while the stock market is unpredictable, Evogene is finalizing a new company presentation and website to reflect its strategy. The company plans to announce new collaborations in pharma and agriculture, which should strengthen its value proposition and potentially impact the stock positively. Q: How representative are operating expenses in Q2 2025, and are all cost reductions fully reflected? A: Ofer Haviv confirmed that the third and fourth quarters are expected to show continued declines in expenses across R&D, marketing, and G&A, reflecting the full impact of cost reductions. Q: What was revenue in Q2 '25, and how should we think about peak sales? A: Ofer Haviv noted that Casterra is currently the only activity producing regular sales, primarily from seed sales. The company is in discussions with multiple partners to expand castor oil activities, focusing on reducing cultivation costs to maximize yield versus expenses. For the complete transcript of the earnings call, please refer to the full earnings call transcript. Sign in to access your portfolio
