SenesTech(SNES)

Search documents
SenesTech(SNES) - 2025 Q1 - Quarterly Results
2025-05-08 20:08
Exhibit 99.1 SenesTech Reports First Quarter 2025 Financial Results 40% Revenue Growth in Evolve , Record Gross Profit Margins of 65%, and Continued Progress Toward Profitability TM SURPRISE, Ariz., May 8, 2025. SenesTech, Inc. (NASDAQ: SNES), the leader in fertility control for managing animal pest populations and the only manufacturer of EPA-registered rodent birth control products today announced its financial results for the first quarter ended March 31, 2024. Q1 2025 Highlights Operational and Strategi ...
SenesTech Reports First Quarter 2025 Financial Results 40% Revenue Growth in Evolve™, Record Gross Profit Margins of 65%, and Continued Progress Toward Profitability
Prnewswire· 2025-05-08 20:05
Core Insights - SenesTech, Inc. reported a 17% increase in revenues for Q1 2025, reaching $485,000 compared to $415,000 in Q1 2024, with Evolve product sales growing 40% year-over-year, now accounting for 79% of total revenue [8][3] - The company achieved a record gross profit margin of 64.5%, up from 32.5% in the same quarter last year [8] - The net loss for Q1 2025 was $1.7 million, slightly improved from a loss of $1.8 million in Q1 2024, while adjusted EBITDA loss improved to $1.5 million from $1.7 million [8] Operational and Strategic Highlights - The Evolve™ Rat and Evolve™ Mouse products are now the largest revenue drivers for SenesTech, reflecting a successful product expansion strategy [3] - E-commerce revenue more than doubled year-over-year, with a 107% increase attributed to improved platform functionality and digital marketing efforts [4] - The company has expanded Evolve deployments in major U.S. municipalities, with positive early adoption in Chicago and a pilot program in New York City [5] International Growth - SenesTech has signed distribution agreements in eleven countries and territories, with product shipments already initiated in The Netherlands, Hong Kong, the UAE, and the Maldives [6] - Regulatory approvals are pending in Australia and New Zealand, with additional launches planned for later in 2025 [6] Financial Performance - The company reported a gross profit of $313,000 for Q1 2025, compared to $135,000 in Q1 2024, indicating improved operational efficiency [17] - Total current assets increased to $3.164 million as of March 31, 2025, up from $2.813 million at the end of 2024 [16] - The company has lowered its breakeven revenue threshold from $12 million to approximately $7 million, indicating a path toward positive cash flow [6]
SenesTech Announces Exclusive Distribution Agreement and Initial Order for Evolve™ Soft Bait in Indonesia
Prnewswire· 2025-05-07 13:00
Company Overview - SenesTech, Inc. is a leader in fertility control for managing animal pest populations, having developed products like ContraPest and Evolve, which are designed to be humane, effective, and sustainable [5]. - The company has entered into an exclusive distribution agreement with Asa Jaya Mandiri LTD (AJM) for the commercialization of Evolve™ in Indonesia, marking its eleventh international distribution agreement [1][4]. Industry Context - Rats are a significant threat to palm oil plantations in Indonesia, causing estimated yield reductions of 5-10% annually, which translates to potential economic losses of USD 540 million to USD 1.08 billion each year, given the palm oil market's value of approximately USD 10.8 billion in 2024 [2]. - The rapid reproduction and adaptability of rats to traditional control methods make long-term population management challenging, highlighting the need for effective fertility control solutions [3]. AJM Profile - Asa Jaya Mandiri LTD (AJM) is a prominent Indonesian trading company with a specialized pest management operation, committed to high quality and standards in its offerings [4][7]. - AJM has over a decade of experience and a diverse portfolio of products sourced globally, enabling it to cater to the unique needs of its customers [7].
SenesTech to Report First Quarter 2025 Financial Results on Thursday, May 8, 2025
Prnewswire· 2025-05-01 20:15
Financial Results Announcement - SenesTech, Inc. will report its first quarter 2025 financial results after market close on May 8, 2025 [1] - A conference call is scheduled for the same day at 5:00 p.m. Eastern time to review the results [1] Conference Call Details - Interested parties can access the conference call by dialing (844) 308-3351 or (412) 317-5407 [2] - A live webcast of the conference call will be available on the Company's website [2] Replay Information - A teleconference replay will be available for seven days after the call [3] - A webcast replay will be accessible for 90 days on the Company's website [3] Company Overview - SenesTech is focused on humane management of animal pest populations through fertility control [4] - The company has developed ContraPest, the only U.S. EPA-registered contraceptive for rats, and other minimum risk contraceptives for rodents [4] - The mission is to provide proactive, safe, and sustainable pest management solutions [4]
SenesTech's Evolve™ Deployed in Chicago Neighborhoods
Prnewswire· 2025-04-17 13:00
Core Insights - SenesTech, Inc. is expanding the deployment of its Evolve™ Rat Birth Control in the Wicker Park Bucktown area of Chicago, aiming to manage rodent populations without harmful toxins [1][2] - The initiative is a collaboration between SenesTech and local commerce groups, highlighting a joint effort to address urban pest control challenges [5] - Recent media coverage has noted similar deployments in other urban areas, including a pilot program in New York City and initiatives in Boston and Baltimore [3] Company Overview - SenesTech focuses on humane pest management through fertility control, with products designed to integrate into existing pest management programs, enhancing effectiveness while reducing reliance on traditional poisons [6] - The company aims to create healthier environments and cleaner cities through its innovative solutions [6] Community Engagement - A dedicated informational website has been launched for residents and business owners in the Wicker Park Bucktown area to provide updates and information about the Evolve™ program [4] - Early reports on the consumption of Evolve™ Rat indicate positive feedback, and the company is preparing for further shipments as the deployment area expands [5]
SenesTech to Participate in the Lytham Partners 2025 Industrials & Basic Materials Investor Summit on April 1, 2025
Prnewswire· 2025-03-31 20:15
Core Insights - SenesTech, Inc. is participating in a webcast fireside chat at the Lytham Partners 2025 Industrials & Basic Materials Investor Summit on April 1, 2025 [1][2] - The company focuses on humane fertility control solutions for managing rodent populations, aiming to create healthier environments [3] Company Overview - SenesTech's products, such as Evolve rodent birth control, enhance pest management programs while reducing reliance on traditional poisons [3] - The company's mission includes creating cleaner cities, more efficient businesses, and healthier communities through humane and sustainable products [3] Event Details - The fireside chat is scheduled for 3:00 p.m. ET on April 1, 2025, and will be accessible via the conference home page [2] - A replay of the chat will be available through the same links, and one-on-one investor meetings can be arranged upon request [2]
SenesTech(SNES) - 2024 Q4 - Earnings Call Transcript
2025-03-13 03:48
Financial Data and Key Metrics Changes - The company reported a 70% increase in quarterly revenues, reaching a record of $501,000 for Q4 2024, and a 56% increase in annual revenue to $1.9 million [27][8] - Quarterly gross profit margins improved to 61%, up from 44% in the same quarter last year, with gross profit dollars increasing by 136% [31][27] - The adjusted EBITDA loss for the quarter was the smallest in company history, with cash burn expected to decrease from $1.5 million to $1 million per quarter [9][34] Business Line Data and Key Metrics Changes - Evolve Rat accounted for 52% of Q4 sales, with a 365% increase compared to the same quarter last year, while Evolve Mouse represented 24% of sales [27][28] - The historical ContraPest product saw a 51% decline in sales as customers transitioned to Evolve solutions [28] Market Data and Key Metrics Changes - E-commerce sales surged by 206% in Q4 2024, making up 55% of total revenue for the quarter [29][13] - The company has signed distribution agreements in 10 countries, with product shipments already made to Hong Kong, UAE, Netherlands, and Maldives [19][20] Company Strategy and Development Direction - The company aims to achieve cash flow breakeven at an annual revenue threshold of $7 million, down from $12 million historically [9] - Strategic financing completed recently is expected to provide necessary capital to accelerate progress towards profitability [10][25] - Focus areas include expanding e-commerce, municipal programs, and international distribution, with a particular emphasis on the warehousing and distribution sector [16][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's trajectory, highlighting the successful launch of Evolve products and the positive reception in various markets [11][37] - The company is committed to executing a focused strategy to achieve sustainable long-term success and profitability [36] Other Important Information - The company is implementing cost reduction initiatives expected to lower cash burn by $2 million annually [9] - A new, larger facility in Phoenix is being secured to meet increasing demand without significantly raising facility costs [32] Q&A Session Summary Question: What is the potential growth from the New York pilot program? - Management indicated that the pilot program's success could lead to expansion into additional areas based on initial results [44] Question: What are the sales efforts in the warehousing sector? - The company is moving into ordering pallets of material for deployment in warehousing facilities, indicating a significant market opportunity [46] Question: How is e-commerce contributing to sales? - Management confirmed that advertising and search engine optimization efforts are driving e-commerce sales, which have become a major revenue channel [48] Question: What is the expected contribution from the Lure bait dispenser? - The Lure bait dispenser is seen as a valuable accessory that allows for product use in hard-to-reach areas, generating interest and orders [54] Question: What is the revenue forecast for 2025? - Management refrained from providing specific revenue forecasts but noted that efforts from 2024 are expected to yield results in 2025 [66] Question: What traction has been gained with big box retailers? - The company has seen significant interest from Ace Hardware and is under consideration for warehouse stocking, with orders increasing substantially [68]
SenesTech(SNES) - 2024 Q4 - Earnings Call Transcript
2025-03-13 00:34
Financial Data and Key Metrics Changes - The company reported a record quarterly revenue increase of 70%, reaching $501,000 for Q4 2024, and a 56% increase in annual revenue to $1.9 million [27][8] - Gross profit margins improved to 61% in Q4 2024, up from 44% in the same quarter last year, with gross profit dollars increasing by 136% [31][8] - The adjusted EBITDA loss was the smallest in company history, with cash burn expected to decrease from $1.5 million to $1 million per quarter [9][34] Business Line Data and Key Metrics Changes - Evolve Rat accounted for 52% of Q4 sales, with a 365% increase compared to the same quarter last year, while Evolve Mouse represented 24% of sales [27][28] - ContraPest sales decreased by 51% as customers transitioned to Evolve solutions [28] Market Data and Key Metrics Changes - E-commerce sales surged by 206% in Q4 2024, representing 55% of total revenue for the quarter [28][29] - The company expanded its distribution agreements in 10 countries, with significant orders from cities like New York and Baltimore [19][15] Company Strategy and Development Direction - The company aims to achieve cash flow breakeven at an annual revenue threshold of $7 million, down from $12 million historically [9] - Strategic financing completed is expected to accelerate progress towards profitability [10][24] - Focus on expanding into municipal markets, warehousing, and international distribution as key growth drivers [22][18] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism about the company's trajectory, highlighting the successful launch of Evolve products and the potential for growth in various markets [11][37] - The company is committed to a focused strategy that emphasizes cost efficiencies and sustainable long-term success [36] Other Important Information - The company is implementing new initiatives to reduce cash burn by $2 million annually and has secured a larger facility to meet increasing demand [9][32] - The introduction of the Lure bait dispenser is expected to enhance product accessibility, although it is not projected to be a high revenue item [53][54] Q&A Session Summary Question: Visibility on New York pilot program - Management indicated that the pilot program in New York will start in April, with potential for expansion based on initial success [42][44] Question: Sales efforts in warehousing and distribution - The company is seeing increased orders from warehousing facilities, particularly in food production, where traditional poisons are not feasible [46][47] Question: E-commerce sales strategy - Management confirmed that advertising and search engine optimization efforts are in place to drive e-commerce sales, with significant growth noted on platforms like Amazon [48][49] Question: Clarification on cash burn reduction - The reduction from $1.5 million to $1 million was clarified as a decrease in cash burn or adjusted EBITDA [50][52] Question: Contribution of Lure bait dispenser - The Lure bait dispenser is seen as a valuable accessory that allows for product use in hard-to-reach areas, generating interest and orders [53][54] Question: Revenue growth from recent contracts - Management noted that regulatory approvals and field trials are necessary before significant revenue contributions can be expected from new contracts [62][64] Question: Traction with big box retailers - The company has seen significant interest from retailers like Ace Hardware, with plans to expand into their warehouses [68][69] Question: Marketing plans for increasing awareness - A comprehensive marketing plan is in place to promote the product's success in municipalities and through social media [71][73] Question: Manufacturing capacity and cost savings - The company has built its supply chain to handle increased demand without constraints, with ongoing efforts to improve manufacturing efficiencies [77][79]
SenesTech(SNES) - 2024 Q4 - Annual Report
2025-03-12 21:38
Market Focus and Product Development - The rat control market is considered sufficient for the company's near-term focus[18]. - The company is focused on gaining market acceptance and commercial viability for its products, including ContraPest and Evolve[18]. - The company believes that its technology can be applied to other mammalian species, which may open new market opportunities[21]. - The company expects expenses to continue increasing as commercialization activities advance[18]. - The success of the company's research and development efforts is critical for future performance and product commercialization[21]. Regulatory and Compliance Issues - The company acknowledges the risks associated with obtaining regulatory approval for its product candidates[21]. - The company anticipates that first and second generation anti-coagulant rodenticides will face increased scrutiny and potential restrictions[18]. - The company asserts that Evolve qualifies for exemption from registration as a minimum risk pesticide under EPA regulations[18]. - The company is subject to compliance with Nasdaq's continued listing requirements, which is vital for maintaining its market presence[21]. - The company files reports with the SEC, ensuring transparency and compliance with information requirements[23]. Financial and Operational Risks - The company faces risks that may cause actual results to differ materially from forward-looking statements, including market acceptance of products and regulatory approvals[21]. - The company acknowledges potential product liability lawsuits that could incur substantial liabilities and limit product commercialization[21]. - The company is concerned that raising additional capital may dilute existing stockholders and restrict operations[21]. - The company recognizes that its share price is volatile, which could lead to securities class action litigation[21]. Human Resources and Talent Management - The company plans to utilize stock-based awards to attract and retain talented employees[18]. - Retaining and attracting key personnel is essential for the company's growth and operational development[21]. - The company emphasizes the importance of establishing an effective sales force and marketing infrastructure to generate significant revenue[21]. Research and Field Studies - The company believes that field research demonstrates more than 90% reduction in rat populations when integrated with pest management protocols[18]. - The company aims to establish fertility control as a standard tool in pest management across all verticals[18].
SenesTech(SNES) - 2024 Q4 - Annual Results
2025-03-12 20:07
Revenue Growth - Revenue increased 70% to $501,000 in Q4 2024 compared to $295,000 in Q4 2023, driven by a 206% growth in e-commerce[4] - The Evolve™ Rat product contributed approximately 52% of Q4 2024 revenue, while the Evolve™ Mouse contributed 24%[4] Profitability - Gross profit margin improved to 60.9% in Q4 2024 from 43.7% in Q4 2023[4] - Adjusted EBITDA loss for Q4 2024 was $1.1 million, compared to $1.6 million in Q4 2023, marking the smallest quarterly loss in company history[4][7] Operating Expenses - Operating expenses decreased by 16% in Q4 2024 compared to Q4 2023[4] - The company plans to reduce expenses by approximately $2 million annually through new operating optimization initiatives[6] Net Loss - Net loss for Q4 2024 was $1.3 million, an improvement from a net loss of $1.7 million in Q4 2023[4] Cash Flow Breakeven - The revenue threshold for cash flow breakeven is expected to decrease to approximately $7 million annually, down from $12 million[6] Distribution and Packaging - The company has signed agreements for distribution of Evolve in 10 countries, with product shipments already occurring in Hong Kong, UAE, Netherlands, and Maldives[9] - The company launched new packaging options that use 87% less plastic than traditional pails, enhancing gross margins[9]