Evolva Announces First-Half 2017 Finances and Progress

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Financial reports

Evolva has released its financial results for the first-half of 2017, which included strong product sales and an increase in shares issued.

Product Revenue Increases

Among the key financial indicators, Evolva’s product revenues grew to 25% of total income, in comparison to 11% during the same period last year. This resulted in the cost of goods increasing to account for volume an activity. During the period, R&D expenses sharply declined by 17% due to focus on application development and a lower involvement in the external contract research organizations.

In addition, the amount of shares issued during the time period rose. In the first half of 2017, Evolva issued 25.5 million addition stocks, totaling 424.2 million. Evolva also created 25 million additional treasury shares from authorized capital in March to be used under the Yorkville agreement and financing purposes.

Progress in Initiatives and Products

Along with the financial reporting, Evolva noted progress on some of its initiatives and products. Among them include:

  • The launch of EverSweet in 2018
  • USA regulatory approval for Nootkatone in pest control by 2018
  • Resveratrol revenues up after Veri-te branding
  • Continue growth of nootkatone for flavor and fragrance consumers

“This is an exciting time for Evolva to take the next logical step in our company’s transformation process into a product-based company. There is a considerable demand to bring natural ingredients to the market for health, wellness and nutrition and related fields. However, many are limited by supply chain issues. Our mission remains to solve such issues by delivering cost-competitive products, produced in a sustainable way through bioproduction,” said Simon Waddington, CEO of Evolva.