Evogene Ltd. (NASDAQ: EVGN) (TASE:EVGN) released its financial results for the first quarter period ending March 31, 2023, revealing revenues of $641,000, an increase of 170% compared to $237,000 in the same period the previous year. The revenue increase was primarily due to revenues recognized per the collaboration agreement of Evogene's subsidiary AgPlenus with Corteva and from sales of Canonic's medical cannabis products in Israel.
Q1 2023 Financial Highlights
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Gross profit was $319,000 compared to $74,000 in Q1 2022.
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R&D expenses, which are reported net of non-refundable grants received, were approximately $4.8 million, compared to approximately $5.6 million in …