Evogene Reports Second Quarter 2025 Financial Results

Dow Jones Newswires

Conference call and webcast: today, August 19, 2025, 9:00 am ET

Financial Highlights:

The financial results for the first half of 2025 of Lavie Bio, a subsidiary of Evogene and the MicroBoost AI for Ag operations, are presented as a single-line item in Evogene's consolidated statements of profit and loss for the first half of 2025. Their results are included under the line titled - "Loss from operations held for sale, net". This accounting treatment follows the intention to sell the majority of Lavie Bio's activities and the MicroBoost AI for Ag as of June 30, 2025.
In the first half of 2025, total revenues amounted to approximately $3.2 million, compared to $2.3 million in the first half of 2024. The increase was primarily driven by higher seed sales generated by Casterra.
During the first half of 2025, Evogene implemented a cost reduction plan, most of which was completed by the end of the second quarter of 2025. The initial impact of these reductions is partially reflected in the first half results, with the full effect expected to be realized in the second half of 2025.
In the first half of 2025, total operating expenses, net were approximately $7.7 million compared to approximately $11.1 million in the first half of 2024. This decrease is mainly due to the decrease in Evogene's subsidiaries' activity.
As of the end of the first half of 2025, the company's cash and short-term bank deposits balance was approximately $11.7 million. This cash balance does not reflect the expected proceeds from the sale of Lavie Bio's assets and the MicroBoost AI for Ag tech-engine to ICL, completed in July 2025.

REHOVOT, Israel, Aug. 19, 2025 /PRNewswire/ — Evogene Ltd. , a leading computational biology and chemistry company aiming to revolutionize the development of life-science-based products, today announced its financial results for the second quarter ended June 30, 2025.

Mr. Ofer Haviv, Evogene's President and CEO stated: "Evogene is entering a transformative phase, centered on the strategic repositioning of our business around ChemPass AI - a proprietary, cutting-edge platform for the AI-driven discovery and optimization of small molecules. With a renewed focus on high-impact innovation, cross-industry collaboration, and operational efficiency, Evogene is now uniquely positioned to unlock long-term value in two massive global markets- pharmaceuticals and agriculture.

Earlier this year, we outlined a bold strategic path, and we are now delivering results across five key priorities:

   1. Enhance ChemPass AI as the core engine 
 
   2. Expansion of strategic collaborations in pharma 
 
   3. Integration of AgPlenus activities into Evogene 
 
   4. Enhanced cash flow from subsidiaries 
 
   5. Streamlined operations across the group

In line with these priorities, I'm excited to share with you the major achievements that took place during the second quarter and to date.

In June, we unveiled version 1.0 of our generative AI foundation model, developed in partnership with Google Cloud. Trained on a proprietary dataset of approximately 38 billion molecular structures, this model represents a leap forward in small molecule design, enabling us to address complex, multi-parameter challenges in pharma and ag-tech.

This technology solidifies ChemPass AI's role as a best-in-class platform, capable of driving innovation at scale and speed.

Last week we announced a collaboration with Tel Aviv University. We partnered with Professor Ehud Gazit, a world-renowned expert in biomolecular self-assembly, to discover small molecule therapeutics targeting metabolic diseases like gout and PKU. This marks the beginning of a broader pharma ecosystem, leveraging ChemPass AI for next-generation drug discovery.

We are optimizing our agricultural offering around ChemPass AI through the integration of AgPlenus' activity into Evogene, including a 40% workforce reduction at AgPlenus. This integration enhances ChemPass AI's application in crop protection, unlocking deeper synergies and operational efficiency.

In July 2025, we completed the sale of most of Lavie Bio's activity and the MicroBoost AI for Ag platform to ICL for a total of $18.71 million. As part of the transaction Lavie Bio redeemed the simple agreement for future equity investment, which was made by an ICL affiliate. This transaction:

Boosted our cash position through direct and indirect proceeds,
Maintained upside via Lavie Bio's ongoing agreement with an existing partner and
Preserved strategic alignment while creating shareholder value.

As part of a streamlining process, in both Biomica and Evogene, we implemented major restructuring plans:

Biomica reduced staff and management overhead and is now focused on completing its clinical trial for BMC128, its immuno-oncology program (by early 2026) and pursuing potential partners to take the lead on its development programs.
Evogene executed a 30% workforce reduction, with cost savings to be reflected from the third quarter of 2025 onwards.

Another important event, which strengthened our financials and supports the execution of the new strategy, was raising $4.4 million through fully utilizing our existing at-the market facility in June 2025, at an average price of $2.31 per share, reflecting strong market confidence. Combined with the ICL transaction, Evogene now holds a solid 18-month operational runway."

Mr. Haviv continued: "Looking ahead, our unified corporate focus is ChemPass AI - a powerful computational AI engine that will serve two global verticals:

Pharma - Driving discovery of novel small molecule therapeutics.
Agriculture - Enhancing crop protection innovation via AgPlenus.

To accelerate the penetration of our technology into these verticals:

We are building a dedicated business development team in pharma.
We expect to expand our academic and industry collaborations in pharma globally.
AgPlenus will continue strategic engagements with Bayer and Corteva, with new collaborations expected in the future.
We will continue investing in the unique offering of our ChemPass AI's cutting edge technology.

As to the activity forecast of our subsidiaries:

Lavie Bio: Post-asset sale, focused on maintaining a collaboration with its existing partner. Dividends are expected to flow to Evogene as the majority shareholder. No new initiatives are planned.
Biomica: Advancing toward completion of its clinical trial for BMC128 and exploring potential partners to take the lead on its current development programs. No new initiatives are planned.
Casterra - Although not directly linked to our core technology, it shows strong revenue potential and is expanding into new markets. We have a strong belief in Casterra's potential as a growth engine and intend to support its continued development.

In summary, Evogene is now a leaner, more focused, and more AI-centric company. With a world-class platform, global partnerships, and a sharpened execution strategy, we are well-positioned to capture substantial value across multi-billion-dollar markets.

We invite investors to join us at this exciting inflection point, as we redefine small molecule innovation for both human health and sustainable agriculture".

Financial Highlights:

Cash Position: As of June 30, 2025, Evogene held consolidated cash, cash equivalents, and short-term bank deposits of approximately $11.7 million. The consolidated cash usage during the second quarter of 2025 was approximately $2.4 million. Excluding Lavie Bio and Biomica, Evogene and its other subsidiaries used approximately $1.0 million in cash during the second quarter of 2025.

Revenue: Revenues for the first half of 2025 were approximately $3.2 million, compared to approximately $2.3 million in the same period the previous year, reflecting an increase of approximately $0.9 million. This increase was primarily driven by higher revenues recognized by Casterra, attributed to seed sales in the first half of 2025, partially offset by a decrease in AgPlenus revenues. Revenues for the second quarter of 2025 were approximately $0.9 million; a slight increase compared to approximately $0.6 million in the same period last year.

R&D Expenses: Research and development expenses, net of non-refundable grants, for the first half of 2025 were approximately $4.8 million, a decrease of approximately $1.7 million compared to $6.5 million in the first half of 2024. The decrease was primarily due to reduced R&D expenses in Biomica and the cessation of Canonic's operations at the beginning of 2024. In the second quarter of 2025, R&D expenses were approximately $2.3 million, down from $2.9 million in the same period of 2024. This decrease is mainly attributable to decreased expenses in Biomica and Casterra.

Sales and Marketing Expenses: Sales and marketing expenses for the first half of 2025 were approximately $0.8 million, a decrease of approximately $0.3 million compared to approximately $1.1 million in the same period last year. The decrease was mainly due to reductions in Evogene, AgPlenus and Biomica personnel costs. Sales and marketing expenses for the second quarter of 2025 were approximately $0.4 million, reflecting a decrease of approximately $0.2 million compared to approximately $0.6 million in the second quarter of 2024. The decrease was mainly attributable to reduced expenses in Evogene, Biomica and AgPlenus as mentioned above.

General and Administrative Expenses: General and administrative expenses for the first half of 2025 decreased to approximately $2.3 million from approximately $2.9 million in the same period last year. This decrease is mainly attributable to lower personnel costs in Evogene, a reduction in D&O insurance costs, and lower non-cash compensation expenses in Casterra, Biomica, and AgPlenus. General and administrative expenses for the second quarter of 2025 decreased to approximately $1.1 million compared to approximately $1.4 million in the same period of the previous year, primarily due to decreased expenses in Evogene as mentioned above.

Other expenses (income): Other income of approximately $191 thousand was recorded in the first quarter of 2025 as part of the accounting treatment related to a sub-lease agreement. The decision to cease Canonic's operations in the first half of 2024 resulted in other expenses of approximately $0.5 million, primarily due to the impairment of fixed assets recorded in the first quarter of 2024.

Operating Loss: The operating loss for the first half of 2025 was approximately $6.1 million, a significant decrease from approximately $9.4 million in the same period of the previous year, mainly due to the decreased operating expenses mentioned above. The operating loss for the second quarter of 2025 was approximately $3.1 million, a decrease from $4.6 million in the same period of the previous year, primarily due to the decreased operating expenses mentioned above.

Financing income (expenses), net: Financing income, net for the first half of 2025 was approximately $732 thousand, compared to financing income, net of approximately $373 thousand in the same period of the previous year. The increase is mainly associated with accounting treatment of pre-funded warrants and warrants issued in August 2024 fund raising. As a result, during the first half of 2025 the Company recorded net financial income, related to pre-funded warrants and warrants of approximately $663 thousand. Financing expenses, net for the second quarter of 2025 were approximately $393 thousand, compared to financing income, net of approximately $97 thousand in the same period of the previous year. The decrease is mainly associated with accounting treatment of pre-funded warrants and warrants issued in August 2024 fund raising.

Loss from operations held for sale, net: Loss from operations held for sale, net for the first half of 2025 was approximately $2.2 million, compared to approximately $0.8 million in the same period of 2024. For the second quarter of 2025, the loss from operations held for sale, net was approximately $1.2 million, compared to approximately $1.4 million in the second quarter of the previous year. These amounts mainly reflect the financial results of Lavie Bio and expenses related to the development and maintenance of MicroBoost AI for Ag, which are presented as a single-line item in the consolidated statements of profit and loss. This accounting treatment follows the intention to sell the majority of Lavie Bio's activities and the MicroBoost AI for Ag as of June 30, 2025. All prior period amounts were reclassified to conform to this presentation.

Net Loss: The net loss for the first half of 2025 was approximately $7.7 million, compared to approximately $9.8 million in the same period last year. The $2.1 million decrease in net loss was primarily due to decreased operating expenses and increased financing income, net, partially offset by increased loss from operations held for sale, net and reduced revenues. The net loss for the second quarter of 2025 was approximately $4.7 million, compared to approximately $6.0 million in the same period last year. The $1.3 million decrease in net loss was primarily due to decreased operating expenses, decreased loss from operations held for sale and increased revenues, partially offset by increased financing expenses, net as mentioned above.

For the financial tables click here.

Conference Call & Webcast Details: Tuesday, August 19, 2025, 9:00 AM EST 4:00 PM IDT

To join the Zoom conference, please register in advance here

Webcast & Presentation link available at:

https://evogene.com/investor-relations/

About Evogene Ltd.

Evogene Ltd. (, ) is a computational biology and chemistry company leveraging big data and artificial intelligence, aiming to revolutionize the development of life-science based products by utilizing cutting-edge technologies to increase the probability of success while reducing development time and cost.

Evogene established three unique tech-engines — MicroBoost AI, ChemPass AI and GeneRator AI. Each tech-engine is focused on the discovery and development of products based on one of the following core components: microbes (MicroBoost AI), small molecules (ChemPass AI), and genetic elements (GeneRator AI).

Evogene uses its tech-engines to develop products through strategic partnerships and collaborations, and its subsidiaries.

For more information, please visit: www.evogene.com.

Forward-Looking Statements

This press release contains "forward-looking statements" relating to future events. These statements may be identified by words such as "may", "could", "expects", "hopes" "intends", "anticipates", "plans", "believes", "scheduled", "estimates", "demonstrates" or words of similar meaning. For example, Evogene and its subsidiaries are using forward-looking statements in this press release when they discuss: the expected effect of their cost reduction plans and timing thereof; the ability of Evogene to unlock long-term value in pharmaceuticals and agriculture; the ability of ChemPass AI to drive innovation at scale and speed; the belief that the collaboration with Professor Gazit marks the beginning of a broader pharma ecosystem; that ChemPass AI will serve the pharma and agriculture verticals, and the methods of penetrating the company's technology into the verticals; the expected dividends to Evogene after the asset sale of Lavie Bio; that Biomica is advancing towards the completion of its BMC128 clinical trial and potential partners to lead its current development programs; Evogene's 18-month operational runway projection; the belief that Evogene is well-positioned to capture substantial value across multi-billion-dollar markets; Evogene's expected expansion of its academic and industry collaborations in pharma globally; AgPlenus' creation of new collaborations in the future; and Casterra's potential as a growth engine and expansion into new markets. Such statements are based on current expectations, estimates, projections and assumptions, describe opinions about future events, involve certain risks and uncertainties which are difficult to predict and are not guarantees of future performance. Therefore, actual future results, performance, or achievements of Evogene and its subsidiaries may differ materially from what is expressed or implied by such forward-looking statements due to a variety of factors, many of which are beyond the control of Evogene and its subsidiaries, including, without limitation, the current war between Israel, Hamas and Hezbollah and any worsening of the situation in Israel such as further mobilizations or escalation in the northern border of Israel, and those risk factors contained in Evogene's reports filed with the applicable securities authority. In addition, Evogene and its subsidiaries rely, and expect to continue to rely, on third parties to conduct certain activities, such as their field trials and pre-clinical studies, and if these third parties do not successfully carry out their contractual duties, comply with regulatory requirements or meet expected deadlines, Evogene and its subsidiaries may experience significant delays in the conduct of their activities. Evogene and its subsidiaries disclaim any obligation or commitment to update these forward-looking statements to reflect future events or developments or changes in expectations, estimates, projections and assumptions.

Evogene Investors Relations Contact:

Email: ir@evogene.com

Tel: +972-8-9311901

 
CONSOLIDATED INTERIM 
STATEMENTS OF FINANCIAL 
POSITION 
-------------------------- 
U.S. dollars in thousands 
                                   June 30,            December 31, 
                             --------------------  --------------------- 
                                             2025                   2024 
                             --------------------  --------------------- 
                                  Unaudited 
                             --------------------  --------------------- 
ASSETS 
                             --------------------  --------------------- 
CURRENT ASSETS: 
   Cash and cash 
    equivalents              $              8,329         $       15,301 
   Short-term bank deposits                 3,362                     10 
   Trade receivables                        1,110                  1,091 
   Other receivables and 
    prepaid expenses                          680                  2,064 
   Deferred expenses 
    related to issuance of 
    warrants                                  991                  1,304 
   Assets held for sale                    12,218                      - 
   Inventories                              1,955                  1,819 
                             --------------------  --------------------- 
                                           28,645                 21,589 
                             --------------------  --------------------- 
LONG-TERM ASSETS: 
   Long-term deposits and 
    other receivables                         165                     12 
   Investment in an 
    associate                                  15                     82 
   Deferred expenses 
    related to issuance of 
    warrants                                1,392                  1,735 
   Right-of-use-assets                      2,350                  2,447 
   Property, plant and 
    equipment, net                          1,359                  1,804 
   Intangible assets, net                       -                 12,195 
                             --------------------  --------------------- 
                                            5,281                 18,275 
                             --------------------  --------------------- 
TOTAL ASSETS                       $       33,926         $       39,864 
                             ====================  ===================== 
LIABILITIES AND EQUITY 
CURRENT LIABILITIES: 
   Trade payables                            $557  $               1,228 
   Employees and payroll 
    accruals                                1,773                  1,869 
   Lease liabilities                          680                    589 
   Liabilities in respect 
    of government grants                      470                    323 
   Deferred revenues and 
    other advances                              -                    360 
   Warrants and pre-funded 
    warrants liability                      1,168                  2,876 
   Convertible SAFE                        10,026                 10,371 
   Other payables                             520                  1,079 
                             --------------------  --------------------- 
                                           15,194                 18,695 
                             --------------------  --------------------- 
LONG-TERM LIABILITIES: 
   Lease liabilities                        1,979                  1,914 
   Liabilities in respect 
    of government grants                    4,279                  4,327 
   Deferred revenues and 
    other advances                             99                     90 
                             --------------------  --------------------- 
                                            6,357                  6,331 
                             --------------------  --------------------- 
TOTAL LIABILITIES             $            21,551    $            25,026 
                             ====================  ===================== 
 
 
CONSOLIDATED INTERIM STATEMENTS OF FINANCIAL POSITION 
---------------------------------------------------------------------------- 
U.S. dollars in thousands 
 
SHAREHOLDERS' EQUITY: 
   Ordinary shares of NIS 0.2 par value: 
   Authorized - 15,000,000 ordinary shares; 
    Issued and    outstanding -- 8,714,230 
    ordinary shares on June 30,    2025 and 
    6,514,589 ordinary shares on December 31, 
       2024                                                   488        363 
   Share premium and other capital reserves               277,083    272,257 
   Accumulated deficit                                  (281,121)  (274,071) 
                                                -----------------  --------- 
 
   Equity attributable to equity holders of 
    the Company                                           (3,550)    (1,451) 
                                                -----------------  --------- 
 
   Non-controlling interests                               15,925     16,289 
                                                -----------------  --------- 
 
   TOTAL EQUITY                                            12,375     14,838 
                                                -----------------  --------- 
 
TOTAL LIABILITIES AND EQUITY                    $          33,926  $  39,864 
                                                =================  ========= 
 
 
CONSOLIDATED INTERIM STATEMENTS OF PROFIT OR LOSS 
----------------------------------------------------------------------------------------- 
U.S. dollars in thousands (except share and per share amounts) 
 
                                                                              Year ended 
                           Six months ended           Three months ended       December 
                               June 30,                    June 30,              31, 
                     ----------------------------  ------------------------  ------------ 
                              2025           2024         2025         2024          2024 
                     -------------  -------------  -----------  -----------  ------------ 
                                           Unaudited                           Audited 
                     ------------------------------------------------------  ------------ 
 
Revenues              $      3,227   $      2,294     $    884     $    605   $     5,577 
Cost of revenues             1,653            646          136          336         2,380 
                     -------------  -------------  -----------  -----------  ------------ 
Gross profit                 1,574          1,648          748          269         3,197 
                     -------------  -------------  -----------  -----------  ------------ 
Operating 
expenses: 
   Research and 
    development, 
    net                      4,792          6,499        2,321        2,882        12,511 
   Sales and 
    marketing                  809          1,112          412          591         1,983 
   General and 
    administrative           2,262          2,917        1,086        1,420         6,993 
   Other expenses 
    (income)                 (191)            524            -            5           514 
                     -------------  -------------  -----------  -----------  ------------ 
Total operating 
 expenses, net               7,672         11,052        3,819        4,898        22,001 
                     -------------  -------------  -----------  -----------  ------------ 
Operating loss             (6,098)        (9,404)      (3,071)      (4,629)      (18,804) 
                     -------------  -------------  -----------  -----------  ------------ 
Financing income             1,820            591          235          194         7,393 
Financing expenses         (1,088)          (218)        (628)         (97)       (3,358) 
                     -------------  -------------  -----------  -----------  ------------ 
Financing income 
 (expenses), net               732            373        (393)           97         4,035 
                     -------------  -------------  -----------  -----------  ------------ 
Share of loss from 
 equity accounted 
 investment                   (66)           (20)         (64)         (20)          (39) 
                     -------------  -------------  -----------  -----------  ------------ 
Loss before taxes 
 on income                 (5,432)        (9,051)      (3,528)      (4,552)      (14,808) 
Taxes on income 
 (tax benefit)                   1              1            1            1             9 
Loss from 
 operations held 
 for sale, net             (2,238)          (778)      (1,152)      (1,432)       (3,237) 
                     -------------  -------------  -----------  -----------  ------------ 
Loss                  $    (7,671)   $    (9,830)   $  (4,681)   $  (5,985)   $  (18,054) 
                     =============  =============  ===========  ===========  ============ 
Equity holders of 
 the Company          $    (7,050)   $    (9,282)   $  (4,462)   $  (5,419)      (16,485) 
Non-controlling 
 interests                   (621)          (548)        (219)        (566)       (1,569) 
                     -------------  -------------  -----------  -----------  ------------ 
                      $    (7,671)   $    (9,830)   $  (4,681)   $  (5,985)    $ (18,054) 
                     =============  =============  ===========  ===========  ============ 
Basic and diluted 
 loss per share 
 from    continuing 
 operations, 
 attributable to 
    equity holders 
 of the Company      $      (0.77)  $      (1.69)  $    (0.50)  $    (0.85)   $    (2.46) 
                     =============  =============  ===========  ===========  ============ 
Basic and diluted 
 loss per share 
 from    operations 
 held for sale, 
 attributable to 
    equity holders 
 of the Company      $      (0.24)  $      (0.13)  $    (0.12)  $    (0.21)   $    (0.43) 
                     =============  =============  ===========  ===========  ============ 
 
Weighted average 
 number of shares 
 used       in 
 computing basic 
 and diluted loss 
 per    share            7,012,031      5,087,029    7,225,862    5,090,993     5,697,245 
                     =============  =============  ===========  ===========  ============ 
 
 
CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS 
--------------------------------------------------------------------------------- 
U.S. dollars in thousands 
                                                                       Year ended 
                     Six months ended         Three months ended         December 
                         June 30,                  June 30,                   31, 
                 ------------------------  ------------------------  ------------ 
                    2025         2024         2025         2024          2024 
                 -----------  -----------  -----------  -----------  ------------ 
                                     Unaudited                         Audited 
                 --------------------------------------------------  ------------ 
Cash flows 
from operating 
activities 
-------------- 
 
Loss             $   (5,433)  $   (9,052)  $   (3,529)  $   (4,553)    $ (14,817) 
 
Adjustments to reconcile loss to net cash 
used in operating activities: 
 
Adjustments to 
the profit or 
loss items: 
 
Depreciation 
 and 
 amortization 
 of property, 
    plant and 
 equipment and 
 right-of-use- 
    assets               600          731          290          330         1,381 
Amortization 
of intangible 
assets                     -            -            -            -             - 
Share-based 
 compensation            472          617          234          311         1,243 
Remeasurement 
 of Convertible 
 SAFE                  (345)           24        (345)           49             3 
Net financing 
 expenses 
 (income)                156        (364)          147         (70)         (771) 
Loss (gain) 
 from sale of 
 property, 
 plant    and 
 equipment             (194)          524          (3)            5           525 
Excess of 
 initial fair 
 value of 
 pre-funded 
    warrants 
 over 
 transaction 
 proceeds                                            -                      2,684 
Amortization of 
 deferred 
 expenses 
 related    to 
 issuance of 
 warrants                656                       330                        471 
Remeasurement 
 of pre-funded 
 warrants 
    and 
 warrants            (1,318)                       159                    (6,529) 
Share of loss 
 of an 
 associate                67           20           65           20            39 
Taxes on income 
 (tax benefit)             1            1            1            1             9 
 
                          95        1,553          878          646         (945) 
                 -----------  -----------  -----------  -----------  ------------ 
Changes in 
asset and 
liability 
items: 
Decrease 
 (increase) in 
 trade 
 receivables            (63)          119        1,467          303         (627) 
Decrease 
 (increase) in 
 other 
 receivables 
    and prepaid 
 expenses              1,369        (627)         (33)        (437)           806 
Decrease 
 (increase) in 
 inventories           (601)        (228)        (154)        (157)       (1,277) 
Increase 
 (decrease) in 
 trade 
 payables              (369)        (716)         (63)         (79)         (630) 
Increase 
 (decrease) in 
 employees and 
    payroll 
 accruals              (124)        (120)          103         (12)         (548) 
Increase 
 (decrease) in 
 other 
 payables              (458)         (94)        (138)        (130)           222 
Increase 
 (decrease) in 
 deferred 
 revenues 
    and other 
 advances              (351)        (105)        (196)         (34)         (559) 
 
                       (597)      (1,771)          986        (546)       (2,613) 
                 -----------  -----------  -----------  -----------  ------------ 
 
 
 
 
  CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS 
------------------------------------------------------------------------------------ 
U.S. dollars in thousands 
                       Six months ended         Three months ended      Year ended 
                           June 30,                  June 30,           December 31, 
                   ------------------------  ------------------------  ------------- 
                      2025         2024         2025         2024          2024 
                   -----------  -----------  -----------  -----------  ------------- 
                                       Unaudited                          Audited 
                   --------------------------------------------------  ------------- 
Cash received 
(paid) during 
the period for: 
 
 Interest 
  received                 176          402           81          231            934 
 Interest paid            (98)         (41)         (52)         (18)           (67) 
 Taxes paid               (11)            -         (11)            -           (11) 
                   -----------  -----------  -----------  -----------  ------------- 
 
 Net cash used in 
  continuing 
  operating 
     activities        (5,868)      (8,909)      (1,647)      (4,240)       (17,519) 
 
 Net cash used in 
  operating 
  activities held 
     for sale          (1,615)        (656)        (654)      (1,215)        (2,181) 
                   -----------  -----------  -----------  -----------  ------------- 
 
 Net cash used in 
  operating 
  activities       $   (7,483)  $   (9,565)  $   (2,301)  $   (5,455)   $   (19,700) 
                   -----------  -----------  -----------  -----------  ------------- 
 
Cash flows from 
investing 
activities: 
---------------- 
 
 
Purchase of 
 property, plant 
 and equipment      $    (123)        (166)          (2)         (26)    $     (626) 
Proceeds from 
 sale of 
 property, plant 
 and 
    equipment                -           10            -            -             10 
Proceeds from 
 finance 
 sub-lease asset            17            -           14            -              - 
Withdrawal from 
 (investment in) 
 bank 
    deposits, 
 net                   (3,328)        1,024      (1,001)        5,255         10,190 
 
Net cash provided 
 by (used in) 
 continuing 
 investing 
 activities            (3,434)          868        (989)        5,229          9,574 
 
Net cash provided 
 by (used in) 
 investing 
 activities held 
 for sale                    -      (2,020)            -      (2,019)             48 
                   -----------  -----------  -----------  -----------  ------------- 
 
Net cash provided 
 by (used in) 
 investing 
 activities        $   (3,434)  $   (1,152)   $    (989)     $  3,210     $    9,622 
                   -----------  -----------  -----------  -----------  ------------- 
 
 
 
 
 CONSOLIDATED INTERIM STATEMENTS OF CASH FLOWS 
U.S. dollars in thousands 
                                                                                 Year ended 
                           Six months ended             Three months ended        December 
                                June 30,                      June 30,              31, 
                    -------------------------------  -------------------------  ------------ 
                         2025             2024          2025         2024          2024 
                    ---------------  --------------  ----------  -------------  ---------- 
                                            Unaudited                            Audited 
                    ----------------------------------------------------------  ---------- 
Cash flows from 
financing 
activities: 
----------------- 
 
Proceeds from 
 issuance of 
 ordinary shares, 
    pre-funded 
 warrants and 
 warrants                     4,283               -       4,283              -       5,500 
Proceeds from 
 issuance of 
 ordinary shares, 
    net of 
 issuance 
 expenses                                        86           -             83         122 
Repayment of lease 
 liability                    (283)           (470)       (137)          (235)       (886) 
Proceeds from 
 government 
 grants                           -                           -              6         134 
Repayment of 
 government 
 grants                       (122)           (142)           -            (9)       (298) 
                    ---------------  --------------  ----------  -------------  ---------- 
 
Net cash provided 
 by (used in) 
 continuing 
       financing 
 activities                   3,878           (526)       4,146          (155)       4,572 
 
Net cash provided 
 by financing 
 activities 
    held for sale               112               8           3              4          84 
                    ---------------  --------------  ----------  -------------  ---------- 
 
Net cash provided 
 by (used in) 
 financing 
    activities            $   3,990      $    (518)    $  4,149      $   (151)  $    4,656 
                    ---------------  --------------  ----------  -------------  ---------- 
 
Exchange rate 
 differences - 
 cash and cash 
    equivalent 
 balances                        25            (53)          45           (35)        (49) 
                    ---------------  --------------  ----------  -------------  ---------- 
 
Increase 
 (decrease) in 
 cash and cash 
    equivalents             (6,902)        (11,288)         904        (2,431)     (5,471) 
 
Cash and cash 
 equivalents, 
 beginning of the 
    period                   15,301          20,772       7,495         11,915      20,772 
Cash and cash 
 equivalents 
 presented in 
    assets held 
 for sale                      (70)               -        (70)              -           - 
                    ---------------  --------------  ----------  -------------  ---------- 
 
Cash and cash 
 equivalents, end 
 of the period           $    8,329       $   9,484   $   8,329      $   9,484  $   15,301 
                    ===============  ==============  ==========  =============  ========== 
 
Significant 
non-cash 
activities 
----------------- 
Acquisition of 
 property, plant 
 and    equipment   $            11  $           15  $       11  $          15  $      120 
                    ===============  ==============  ==========  =============  ========== 
Right-of-use asset 
 recognized with 
    corresponding 
 lease liability      $         207    $        184    $      -      $      54  $    2,307 
                    ===============  ==============  ==========  =============  ========== 
Exercise of 
 pre-funded 
 warrants                 $     389       $       -     $   160      $       -  $    2,289 
                    ===============  ==============  ==========  =============  ========== 
Derecognition of 
property, plant 
and    equipment 
under a finance 
lease                     $      13       $       -    $      -      $       -  $        - 
                    ===============  ==============  ==========  =============  ========== 
Investment in 
 affiliated 
 company with 
    corresponding 
 deferred 
 revenues                $        -       $     120    $      -      $       -  $      120 
                    ===============  ==============  ==========  =============  ==========

Logo: https://mma.prnewswire.com/media/1947468/Evogene_Logo.jpg

View original content:https://www.prnewswire.com/news-releases/evogene-reports-second-quarter-2025-financial-results-302533323.html

SOURCE Evogene

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Israel Corp. Reports Results for Second Quarter of 2025

Dow Jones Newswires

TEL AVIV, Israel, Aug. 13, 2025 /PRNewswire/ — Israel Corporation Ltd. ("ILCO") announced today its second quarter results for the period ending June 30, 2025.

 
Selected Financial Figures for the Second Quarter 2025: 
----------------------------------------------------------------- 
$m                                                   Q2/25  Q2/24 
---------------------------------------------------  -----  ----- 
ILCO share in ICL profit                              40     50 
ILCO share in Prodalim profit                          2      - 
Amortization of excess cost in held companies         (2)    (1) 
Financing, G&A and other at ILCO headquarter level     2     (1) 
Tax income of ILCO Headquarters                        1      - 
---------------------------------------------------  -----  ----- 
Net profit to company's shareholders                  43     48

Liquidity at the ILCO Headquarters Level([1])

As of June 30, 2025, total financial liabilities were $715 million, and investments in liquid assets amounted to $739 million of which $8 million are pledged deposits.

Net cash(1) as of June 30, 2025, totaled $26 million. The net cash includes the fair value of derivatives transactions, which decreases the economic value of the financial liabilities by $2 million. As of March 31, 2025, the net cash was $21 million.

Additional updates

On March 5, 2025, ILCO completed the investment agreement with Prodalim Investments Ltd, ("Prodalim"), dated January 21, 2025, after the completion of the transaction, ILCO holds approximately 27.5% of Prodalim's share capital, on a fully diluted basis. Prodalim is a private company, incorporated in Israel, which is engaged in creating natural solutions for various industries. Its products include concentrates, flavors and fragrances, beverage bases and other natural functional ingredients. In addition, Prodalim is developing innovative activities focused on the emerging world of the de-alcoholization of alcoholic beverages*

On March 27, 2025, ILCO Board of Directors decided on distribution of dividend at the sum of $15m, this in accordance with the company's dividend policy announced in January 2023. The record date was April 9, 2025, and the payment date was April 21, 2025.

ILCO financial results of ILCO are mainly affected by the results of its investees. For more details see detailed financial report.

 
ILCO Total Assets, Net 
---------------------------------------------------- 
$m                                        30/06/2025 
----------------------------------------  ---------- 
Assets 
ICL (567m shares, market value)               3,883 
Prodalim (cost)                                  118 
AKVA Group (6.6m shares, market value)           54 
Other([2])                                        15 
----------------------------------------  ---------- 
Total Assets                                   4,070 
ILCO's Net Cash                                   26 
----------------------------------------  ---------- 
Total Assets, net                              4,096

About Israel Corporation

Israel Corporation Ltd. ("ILCO") is a reputable public investment company, which owns and invests in high quality companies with established managements and go-to markets.

In November 2019, ILCO announced its updated strategy, ILCO plans to expand its portfolio through new investments over the next few years. ILCO plans to focus mainly on the food (inc. tech), agriculture (inc. tech), healthcare and industry 4.0 sectors. For more details please see the following link to ILCO updated Strategy Presentation

ILCO strives to generate return on its investment through active board participations and its operational and managerial expertise.

ILCO current core holdings include c.44% stake in ICL Group (, ), c.18% stake in AKVA Group (OB:AKVA) and c.27.5% in Prodalim (on a fully diluted basis).

ILCO is publicly traded on the Tel Aviv Stock Exchange under the ticker ILCO and is included in the TA-35 Index.

For further information on ILCO, see ILCO's publicly available filings, which can be found on the Tel Aviv Stock Exchange website at http://maya.tase.co.il.

Please also see ILCO company website http://www.israelcorp.com for additional information.

Convenience Translation

The financial information found in this press release is an English summary based on the original Hebrew financial statements and is solely for the convenience of the reader. The binding version is the original in Hebrew.

Forward Looking Statements

This press release may contain forward-looking statements, which may not materialize and are subject to risks and uncertainties that are not under the control of ILCO, which may cause actual results to differ materially from those contained in the disclosures.

Investor Relations Contacts

Idan Hizki

Vice President, Business Development

Tel: +972 3 684 4500

idanh@israelcorp.com

[1] Israel Corp and its wholly owned and controlled headquarter companies.

[2] Includes 1.983m shares in Nordic Aqua Partners (OB:NOAP).

View original content:https://www.prnewswire.com/news-releases/israel-corp-reports-results-for-second-quarter-of-2025-302529205.html

SOURCE Israel Corporation Ltd.

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Israel stocks higher at close of trade; TA 35 up 1.42%

Investing.com

Advanced Micro Devices

-4.81%

NVIDIA

-3.27%

Investing.com – Israel stocks were higher after the close on Sunday, as gains in the Banking, Financials and Insurance sectors led shares higher.

At the close in Tel Aviv, the TA 35 rose 1.42%.

The best performers of the session on the TA 35 were Phoenix Holdings Ltd (TASE:PHOE), which rose 6.73% or 760.00 points to trade at 12,060.00 at the close. Meanwhile, Mizrahi Tefahot (TASE:MZTF) added 6.01% or 1,230.00 points to end at 21,700.00 and Bank Hapoalim (TASE:POLI) was up 6.01% or 371.00 points to 6,540.00 in late trade.

The worst performers of the session were Elbit Systems Ltd (TASE:ESLT), which fell 5.83% or 9,500.00 points to trade at 153,500.00 at the close. NICE Ltd (TASE:NICE) declined 4.95% or 2,610.00 points to end at 50,130.00 and ICL Israel Chemicals Ltd (TASE:ICL) was down 2.88% or 62.00 points to 2,088.00.

Rising stocks outnumbered declining ones on the Tel Aviv Stock Exchange by 286 to 183 and 73 ended unchanged.

Shares in Phoenix Holdings Ltd (TASE:PHOE) rose to all time highs; up 6.73% or 760.00 to 12,060.00. Shares in NICE Ltd (TASE:NICE) fell to 5-year lows; losing 4.95% or 2,610.00 to 50,130.00. Shares in Bank Hapoalim (TASE:POLI) rose to all time highs; rising 6.01% or 371.00 to 6,540.00.

Crude oil for September delivery was unchanged 0.00% or 0.00 to $63.88 a barrel. Elsewhere in commodities trading, Brent oil for delivery in October rose 0.24% or 0.16 to hit $66.59 a barrel, while the December Gold Futures contract rose 1.09% or 37.60 to trade at $3,491.30 a troy ounce.

USD/ILS was up 0.49% to 3.43, while EUR/ILS rose 0.27% to 3.99.

The US Dollar Index Futures was down 0.22% at 98.01.

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ICL: Specialties-driven growth and strong margins offset potash volume declines in 2Q'25

Quartr

ICL Group

+0.40%

Sales and EBITDA grew year-over-year, led by specialties-driven businesses and improved pricing. Potash volumes declined, but margins improved; strong cash position and reaffirmed credit rating support outlook.

Original document: ICL Group Ltd. [ICL] Slides Release — Aug. 6 2025

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ICL: Specialties-driven growth offset Potash weakness, with Q2 sales up and EBITDA guidance reaffirmed

Quartr

ICL Group

+0.40%

Q2 2025 saw sales rise to $1.8B, led by specialties-driven segments, while Potash lagged due to lower volumes and contract pricing. Adjusted EBITDA was $351M, and guidance for specialties-driven EBITDA remains $0.95–$1.15B for 2025.

Original document: ICL Group Ltd. [ICL] SEC 6-K Current Report — Aug. 6 2025

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ICL Reports Second Quarter 2025 Results

Dow Jones Newswires

Sales of $1.8 billion increased year-over-year, with operating income of $181 million, adjusted EBITDA of $351 million and adjusted diluted EPS of $0.09

TEL AVIV, Israel & ST. LOUIS--(BUSINESS WIRE)--August 06, 2025--

ICL , a leading global specialty minerals company, today reported its financial results for the second quarter ended June 30, 2025. Consolidated sales were $1.8 billion, up $80 million versus the prior year. Operating income was $181 million versus $211 million of operating income in the second quarter of last year, with adjusted operating income of $201 million versus $225 million. For the second quarter, net income attributable to shareholders was $93 million versus $115 million in the prior year, with adjusted net income of $110 million compared to $126 million. Adjusted EBITDA was $351 million versus $377 million. Diluted earnings per share were $0.07 versus $0.09 in the second quarter of last year, with adjusted diluted EPS of $0.09 versus $0.10.

This press release features multimedia. View the full release here: https://www.businesswire.com/news/home/20250805898603/en/

"For the second quarter, ICL delivered both a year-over-year and sequential increase in sales, against a backdrop of generally positive trends in most markets. Results were once again led by our specialties-driven businesses. Combined, our Industrial Products, Phosphate Solutions and Growing Solutions businesses reported year-over-year growth in sales for both the second quarter and first half of the year. For our Potash segment, second quarter sales were lower versus the prior year, due to lower quantities and as we continued to supply potash to India and China at 2024 contract prices. We expect sales for the Potash segment to improve in the third quarter, due to an increase in the prices for both the 2025 contracts with India and China and for spot transactions," said Elad Aharonson, president and CEO of ICL. "For the most part, second quarter trends were a continuation of the first quarter and in-line with expectations. Looking toward the second half of the year, we expect to gradually benefit from price improvement and to continue to focus on our regional-specific specialties-driven businesses."

The company reiterated its guidance for specialties-driven EBITDA of between $0.95 billion to $1.15 billion for full year 2025. For Potash, ongoing geopolitical unrest — and a brief period of regional conflict — impacted production in Israel. For 2025, the company now expects sales volumes of between 4.3 million and 4.5 million metric tons. (1a)

Key Financials

Second Quarter 2025

 
US$M 
 Ex. per share data                                    2Q'25   2Q'24 
-----------------------------------------------------  ------  ------ 
Sales                                                  $1,832  $1,752 
Gross profit                                             $554    $568 
Gross margin                                              30%     32% 
Operating income                                         $181    $211 
Adjusted operating income (1)                            $201    $225 
Operating margin                                          10%     12% 
Adjusted operating margin (1)                             11%     13% 
-----------------------------------------------------  ------  ------ 
Net income attributable to shareholders                   $93    $115 
Adjusted net income attributable to shareholders (1)     $110    $126 
Adjusted EBITDA (1)                                      $351    $377 
Adjusted EBITDA margin (1)                                19%     22% 
Diluted earnings per share                              $0.07   $0.09 
Diluted adjusted earnings per share (1)                 $0.09   $0.10 
Cash flows from operating activities (2)                 $269    $316 
-----------------------------------------------------  ------  ------ 
 
 
(1)    Adjusted operating income and margin, adjusted net income attributable 
       to shareholders, adjusted EBITDA and margin, and diluted adjusted 
       earnings per share are non-GAAP financial measures. Please refer to the 
       adjustments table and disclaimer. 
(2)    See "Condensed consolidated statements of cash flows (unaudited)" in 
       the appendix below.

Industrial Products

Second quarter 2025

Sales of $319 million vs. $315 million.
EBITDA of $69 million vs. $74 million.
Stable performance was in-line with first quarter trends and market expectations.

Key developments versus prior year

Flame retardants: Overall sales decreased slightly, as bromine-based product sales decreased, with higher prices unable to offset lower volumes and as the construction end-market remained soft. Sales of phosphorous-based solutions increased, as higher volumes and prices followed the implementation of duties on Chinese imports -- especially in the United States.
Elemental bromine: Sales decreased slightly year-over-year, as lower volumes were only partially offset by higher prices.
Clear brine fluids: Sales increased, primarily due to higher volumes, mainly in the United States.
Specialty minerals: Stable sales reflected steady end-market demand and were in-line with the prior year.

Potash

Second quarter 2025

Sales of $383 million vs. $422 million.
EBITDA of $115 million vs. $118 million.
Grain Price Index decreased 17.2% year-over-year, with corn up 2.3%, while rice, soybeans and wheat were down 27.0%, 11.8% and 18.4%, respectively. On a sequential basis, the Index declined 3.3%, with corn, rice and wheat down 2.0%, 4.6% and 6.5%, respectively, while soybeans increased 3.3%.

Key developments versus prior year

Potash price: $333 per ton (CIF).
-- Up 11% both sequentially and year-over-year.
Potash agreements
-- ICL continued to fulfill its 2024 annual contracts with China
and India, and the prices in these agreements were lower than market rates, which improved as the second quarter progressed.
-- In June, ICL reached an agreement with IPL in India, to supply
an aggregate of 400,000 metric tons of potash at $349 per metric ton -- in-line with current market prices in India.
-- Also in June, ICL signed contracts with its Chinese customers to
supply 750,000 metric tons of potash at $346 per metric ton, which aligns with recent contract settlements in China.
Potash sales volumes: 971 thousand metric tons.
Completed annual maintenance shutdown in Israel.
Decreased by 182 thousand metric tons, with lower volumes mainly to China but an increase in volumes to Europe.
ICL Dead Sea
Production decreased, due to operational challenges primarily related to ongoing war related issues, the annual maintenance shutdown, and a brief period of regional unrest in June.
ICL Iberia
-- Production was in-line with the prior year but up sequentially,
as efficiency efforts remain on track.

Phosphate Solutions

Second quarter 2025

Sales of $637 million vs. $572 million.
EBITDA of $134 million vs. $146 million.
Year-over-year and sequential growth in sales driven by strength in commodities, while specialties results were lower but in-line with market dynamics.

Key developments versus prior year

White phosphoric acid: Sales increased slightly, as volume growth in all major regions offset lower prices.
Industrial phosphates: Sales increased, as higher volumes -- particularly in North America and China -- offset lower prices.
Food phosphates: Despite higher volumes, sales were flat due to lower market prices, however, products for both dairy- and plant-protein markets continued to see good growth.
Battery materials: Sales increased in China year-over-year, reflecting both higher volumes and prices, as the market continued to grow.
Commodity phosphates: Overall phosphate prices strengthened significantly during the quarter, supported by favorable weather conditions across most key markets and as China continued to restrict exports.

Growing Solutions

Second quarter 2025

Sales of $540 million vs. $494 million.
EBITDA of $56 million vs. $45 million.
Year-over-year growth driven by continued focus on innovative, regional solutions.

Key developments versus prior year

Brazil: Sales increased, as higher prices offset lower volumes, while exchange rate fluctuations impacted gross profit.
Europe: Sales increased, with higher prices offsetting lower volumes, while gross profit increased, due to improved mix, including higher sales of specialty agriculture products.
North America: Sales increased, due to higher volumes, favorable pricing and the July 2024 acquisition of Custom Ag Formulators, with improved gross profit across the region, despite ongoing tariff-related issues and a challenging ag economy.
Asia: Sales in-line with the prior year, with improved product mix -- including an increase in sales of specialty ag products -- contributing to higher gross profit.
Product trends: Specialty agriculture sales increased, with higher volumes in most major regions and higher prices in Europe and for micronutrients in Brazil. Turf and ornamental sales increased, with turf and landscape experiencing higher volumes, while higher prices for ornamental horticulture offset lower volumes.

Financial Items

Financing Expenses Net financing expenses for the second quarter of 2025 were $13 million, down versus $33 million in the corresponding quarter of last year, with the decrease primarily due to exchange rate differences net of hedging transactions.

Tax Expenses

Reported tax expenses in the second quarter of 2025 were $60 million, reflecting an effective tax rate of 36%, compared to $48 million in the corresponding quarter of last year, reflecting an effective tax rate of 27%. The relatively higher effective tax rate in the quarter was primarily due to the appreciation of the Israeli shekel versus the U.S. dollar. For the first half of the year, the reported effective tax rate was 32%.

Available Liquidity

ICL's available cash resources, which are comprised of cash and deposits, unutilized revolving credit facility, and unutilized securitization, totaled $1,466 million, as of June 30, 2025.

Outstanding Net Debt

As of June 30, 2025, ICL's net financial liabilities amounted to $2,214 million, an increase of $363 million compared to December 31, 2024.

Dividend Distribution

In connection with ICL's second quarter 2025 results, the Board of Directors declared a dividend of 4.26 cents per share, or approximately $55 million, versus 4.88 cents per share, or approximately $63 million, in the second quarter of last year. The dividend will be payable on September 17, 2025, to shareholders of record as of September 3, 2025.

About ICL

ICL Group Ltd. is a leading global specialty minerals company, which creates impactful solutions for humanity's sustainability challenges in the food, agriculture and industrial markets. ICL leverages its unique bromine, potash and phosphate resources, its global professional workforce, and its sustainability focused R&D and technological innovation capabilities, to drive the company's growth across its end markets. ICL shares are dual listed on the New York Stock Exchange and the Tel Aviv Stock Exchange (NYSE and ). The company employs more than 12,000 people worldwide, and its 2024 revenue totaled approximately $7 billion.

For more information, visit ICL's website at icl-group.com.

To access ICL's interactive CSR report, visit icl-group-sustainability.com.

You can also learn more about ICL on Facebook, LinkedIn, YouTube, X and Instagram.

Guidance

(1a) The company only provides guidance on a non-GAAP basis. The company does not provide a reconciliation of forward-looking adjusted EBITDA (non-GAAP) to GAAP net income (loss), due to the inherent difficulty in forecasting, and quantifying certain amounts that are necessary for such reconciliation, in particular, because special items such as restructuring, litigation, and other matters, used to calculate projected net income (loss) vary dramatically based on actual events, the company is not able to forecast on a GAAP basis with reasonable certainty all deductions needed in order to provide a GAAP calculation of projected net income (loss) at this time. The amount of these deductions may be material, and therefore could result in projected GAAP net income (loss) being materially less than projected adjusted EBITDA (non-GAAP). The guidance speaks only as of the date hereof. The company undertakes no obligation to update any of these forward-looking statements to reflect events or circumstances after the date of this news release or to reflect actual outcomes, unless required by law. The company provides guidance for specialties-driven EBITDA, which includes Industrial Products, Growing Solutions and Phosphate Solutions. For the Potash business, the company is providing sales volume guidance.

Non-GAAP Statement

The company discloses in this quarterly report non-IFRS financial measures titled adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share, and adjusted EBITDA. Management uses adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share, and adjusted EBITDA to facilitate operating performance comparisons from period to period. The company calculates adjusted operating income by adjusting operating income to add certain items, as set forth in the reconciliation table under "Adjustments to reported operating, and net income (non-GAAP)" below. Certain of these items may recur. The company calculates adjusted net income attributable to the company's shareholders by adjusting net income attributable to the company's shareholders to add certain items, as set forth in the reconciliation table under "Adjustments to reported operating, and net income (non-GAAP)" below, excluding the total tax impact of such adjustments. The company calculates diluted adjusted earnings per share by dividing adjusted net income by the weighted-average number of diluted ordinary shares outstanding. Adjusted EBITDA is calculated as net income before financing expenses, net, taxes on income, share in earnings of equity-accounted investees, depreciation and amortization, and certain adjustments presented in the reconciliation table under "Consolidated adjusted EBITDA, and diluted adjusted earnings per share for the periods of activity" below, which were adjusted for in calculating the adjusted operating income.

You should not view adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share or adjusted EBITDA as a substitute for operating income or net income attributable to the company's shareholders determined in accordance with IFRS, and you should note that the company's definitions of adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share, and adjusted EBITDA may differ from those used by other companies. Additionally, other companies may use other measures to evaluate their performance, which may reduce the usefulness of the company's non-IFRS financial measures as tools for comparison. However, the company believes adjusted operating income, adjusted net income attributable to the company's shareholders, diluted adjusted earnings per share, and adjusted EBITDA provide useful information to both management, and investors by excluding certain items that management believes are not indicative of ongoing operations. Management uses these non-IFRS measures to evaluate the company's business strategies and management performance. The company believes these non--IFRS measures provide useful information to investors because they improve the comparability of financial results between periods and provide for greater transparency of key measures used to evaluate performance.

The company presents a discussion in the period-to-period comparisons of the primary drivers of change in the company's results of operations. This discussion is based in part on management's best estimates of the impact of the main trends on the company's businesses. The company has based the following discussion on its financial statements. You should read such discussion together with the company's financial statements.

Forward-looking Statements

This announcement contains statements that constitute "forward--looking statements", many of which can be identified by the use of forward--looking words such as "anticipate", "believe", "could", "expect", "should", "plan", "intend", "estimate", "strive", "forecast", "targets" and "potential", among others. The company is relying on the safe harbor provided in Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, in making such forward-looking statements.

Forward--looking statements appear in a number of places in this announcement and include, but are not limited to, statements regarding the company intent, belief or current expectations. Forward--looking statements are based on the company management's beliefs and assumptions and on information currently available to the company management. Such statements are subject to risks and uncertainties, and the actual results may differ materially from those expressed or implied in the forward--looking statements due to various factors, including, but not limited to:

Changes in exchange rates or prices compared to those we are currently experiencing; the effects of the ongoing security situation in Israel, including the nature and duration of related conflicts; loss or impairment of business licenses or mineral extractions permits or concessions; volatility of supply and demand and the impact of competition; the difference between actual reserves and the company reserve estimates; natural disasters and cost of compliance with environmental regulatory legislative and licensing restrictions including laws and regulation related to, and physical impacts of climate change and greenhouse gas emissions; failure to "harvest" salt which could lead to accumulation of salt at the bottom of the evaporation Pond 5 in the Dead Sea; disruptions at the company seaport shipping facilities or regulatory restrictions affecting the company ability to export the company products overseas; general market, political or economic conditions in the countries in which the company operates, including tariffs and trade policies; price increases or shortages with respect to the company principal raw materials; delays in termination of engagements with contractors and/or governmental obligations; the inflow of significant amounts of water into the Dead Sea which could adversely affect production at the company plants; labor disputes, slowdowns and strikes involving the company employees; pension and health insurance liabilities; disruptions from pandemics that may impact the company sales, operations, supply chain and customers; changes to governmental incentive programs or tax benefits, creation of new fiscal or tax related legislation; and/or higher tax liabilities; changes in the company evaluations and estimates, which serve as a basis for the recognition and manner of

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STAAR Surgical stock soars after Alcon announces $1.5B acquisition

Investing.com

Investing.com -- STAAR Surgical Company (NASDAQ:STAA) stock surged 44.8% following the announcement that Alcon (SIX:ALC) (NYSE:ALC) will acquire the company in a deal valued at approximately $1.5 billion.

Under the terms of the agreement, Alcon will purchase all outstanding shares of STAAR for $28 per share in cash, representing a 59% premium to STAAR’s 90-day Volume Weighted Average Price and a 51% premium to its closing price on August 4, 2025.

The acquisition includes STAAR’s EVO family of Implantable Collamer Lenses ( ICL (TASE:ICL)), which are designed for vision correction in patients with moderate to high myopia, with or without astigmatism.

"We believe the transaction with Alcon represents the best path forward and provides the greatest value for STAAR shareholders," said Stephen Farrell, CEO of STAAR. "As we’ve shared, fluctuating demand in China over the past two years has continued to create significant headwinds for STAAR as a standalone company."

Alcon CEO David Endicott noted that the acquisition would enhance the company’s ability to "offer a leading surgical vision correction solution for those who are not ideal candidates for other refractive surgeries such as LASIK."

Canaccord Genuity analyst John Young raised the price target on STAAR Surgical to $28.00 from $20.00 while maintaining a Hold rating. "The deal is interesting to us; on one hand it ends the near-term pain that STAAR investors have experienced with the China business, but Alcon’s positioning in the press release clearly shows that they are viewing EVO as an alternative for those who are not candidates for LASIK, rather than an alternative to LASIK itself," Young commented.

The transaction is expected to close in approximately six to 12 months, subject to regulatory approval and approval by STAAR’s shareholders. Alcon anticipates the acquisition will be accretive to earnings in the second year.

This article was generated with the support of AI and reviewed by an editor. For more information see our T&C.

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