Company Overview - SenesTech is a pioneer in humane pest control solutions, specializing in fertility control technologies to manage animal pest populations [8] - The company has developed innovative products like ContraPest®, the only EPA-registered contraceptive for both male and female rats, and Evolve™, an EPA-designated minimum-risk contraceptive soft bait [8] - SenesTech aims to create healthier environments by reducing reliance on traditional poisons and integrating its products seamlessly into pest management programs [8] Product Launch and Distribution - Evolve™ Rodent Birth Control, an innovative rodent control product, will soon be available through Bug Off Pest Control in New York City [1] - Bug Off will market and sell Evolve throughout its network and provide ongoing training to pest management professionals (PMPs) in the Greater New York area [1] - The partnership with Bug Off is expected to accelerate market penetration in New York City, a key and challenging market for rodent control [2][3] Product Features and Effectiveness - Evolve is a soft bait that is highly palatable to rodents, making it easy to deploy in various environments such as barns, garages, homes, gardens, and sheds [4][10] - The product works by reducing rodent fertility, addressing the root cause of overpopulation and providing long-lasting results [10] - Evolve has been tested and proven effective in reducing rodent populations without the use of traditional poisons [4] Market Context - New York City is implementing a rat contraception program, and SenesTech is currently the only manufacturer of products that meet the EPA's requirements for rat contraceptives [7] - The city's program defines "rat contraceptive" as an agent approved by the EPA for reducing reproductive capacity in rats, aligning with SenesTech's product offerings [7] Strategic Partnerships - Bug Off and its President, Andy Linares, are well-respected in the pest management industry, known for their focus on innovation, education, and service [2] - The collaboration with Bug Off is expected to enhance the adoption of Evolve in New York City, leveraging Bug Off's reputation and network [2][3]

Company Announcement - SenesTech, Inc announces Joshua M Moss will join its Board of Directors [1] - Joshua M Moss is co-founder, Managing Director and Portfolio Manager at EAM Global Investors, a boutique investment firm with approximately $3 billion in assets under management [2] - He has over 20 years of experience in institutional investment management, with a proven track record in portfolio management, team leadership and global business development [2] - Previously held senior roles at Allianz Global Investors and began his career at Credit Suisse focusing on investment banking and equity research [3] - Holds an MBA in Finance from UCLA Anderson School of Management and a BA in History from University of California, San Diego [4] Business Outlook - SenesTech and its product Evolve are poised for growth in the coming year and beyond according to Mr Moss [5] - The company has the right team and product to drive this growth [5] Company Overview - SenesTech is committed to creating healthier environments through humane animal pest population management using fertility control [6] - The company is an expert in fertility control technologies and has pioneered products like ContraPest and Evolve [6] - ContraPest is the only EPA-registered contraceptive for both male and female rats [6] - Evolve is an EPA-designated minimum-risk contraceptive soft bait [6] - Both products are designed to integrate seamlessly into pest management programs, enhancing effectiveness while reducing reliance on traditional poisons [6] - The company aims to create cleaner cities, more efficient businesses and happier households with humane, effective and sustainable products [6]

SenesTech, Inc. (NASDAQ:SNES) Q3 2024 Earnings Conference Call November 12, 2024 5:00 PM ET Company Participants Robert Blum - Lytham Partners Joel Fruendt - Chief Executive Officer Tom Chesterman - Chief Financial Officer Operator Good day and welcome to the SenesTech Third Quarter Fiscal Year 2024 Financial Results Conference Call. All participants will be in a listen-only mode for the duration of the call. [Operator Instructions] After today's presentation, there will be an opportunity to ask questions. ...

Financial Performance - For the third quarter of 2024, net sales were $482,000, a 34% increase from $360,000 in the same quarter of 2023, driven by the launch of the Evolve product line [83]. - Evolve products accounted for approximately 68%, or $330,000, of revenues in the third quarter of 2024, while ContraPest product revenues declined [83]. - For the nine months ended September 30, 2024, sales reached $1,356,000, a 51% increase from $898,000 in the same period of 2023, with Evolve products representing 63%, or $849,000, of total revenues [84]. - Gross profit for the third quarter of 2024 was $315,000, resulting in a gross profit margin of 65.4%, compared to $176,000 and 48.8% in the third quarter of 2023 [87]. - The company incurred a net loss of $1.5 million for the third quarter of 2024, a 22% decrease from a net loss of $1.9 million in the same quarter of 2023 [83]. Operating Expenses - Total operating expenses for the third quarter of 2024 were $1.86 million, a 12% decrease from $2.13 million in the same quarter of 2023 [83]. - Cost of sales for the third quarter of 2024 was $167,000, or 34.6% of net sales, down from $184,000, or 51.2% of net sales, in the third quarter of 2023 [85]. - Research and development expenses for Q3 2024 were $451,000, an increase of $72,000 from $379,000 in Q3 2023, primarily due to realignment of personnel focus and increased facility costs [90]. - For the nine months ended September 30, 2024, research and development expenses totaled $1,288,000, up $141,000 from $1,147,000 in the same period of 2023 [91]. - Selling, general and administrative expenses for Q3 2024 were $1.4 million, a decrease of $337,000 from $1.7 million in Q3 2023, mainly due to lower personnel-related expenses and professional fees [93]. - For the nine months ended September 30, 2024, selling, general and administrative expenses were $4.4 million, down $856,000 from $5.3 million in the same period of 2023 [94]. Cash and Financing - As of September 30, 2024, the company had an accumulated deficit of $134.8 million and cash and cash equivalents of $2.5 million [77]. - The company expects cash and cash equivalents to be sufficient to fund operations for at least the next four months, contingent on achieving revenue targets [100]. - The company anticipates needing additional financing to achieve future revenue and margin targets [81]. - Cash flows from operating activities used $4.8 million during the nine months ended September 30, 2024, driven by a net loss of $4.9 million [105]. - Net cash provided by financing activities for the nine months ended September 30, 2024, was $2.0 million from warrant exercises and $25,000 from notes payable, offset by $29,000 in repayments [109]. - In comparison, net cash provided by financing activities for the nine months ended September 30, 2023, was $3.0 million from common stock issuance and $44,000 from notes payable, with $11,000 paid for employee withholding taxes [109]. Future Outlook - The company expects to continue incurring significant operating losses for at least the next six months [78]. - The company anticipates ongoing expenses related to marketing and sales of fertility control products, necessitating additional financing [101]. Miscellaneous - Other income for Q3 2024 included $29,000 in miscellaneous income and $11,000 in interest income, compared to $4,000 in interest income in Q3 2023 [95]. - There have been no material changes to critical accounting policies and estimates as disclosed in the Annual Report for the year ended December 31, 2023 [110].

Revenue Growth - Revenues reached $1.4 million in the first nine months of 2024, a 51% increase compared to the same period in 2023[1] - Revenues for the three months ended September 30, 2024, increased to $482,000, up 34% from $360,000 in the same period of 2023[19] - E-commerce sales increased approximately 20% in Q3 2024 compared to Q3 2023, representing about 35% of year-to-date 2024 sales[2] Gross Margin and Profit - Gross margin improved to 65% in Q3 2024 from 49% in Q3 2023, with gross profit dollars increasing by 79%[1] - Gross profit for the nine months ended September 30, 2024, was $699,000, representing a 70% increase compared to $410,000 for the same period in 2023[19] Operating Expenses - Operating expenses decreased by 12% in Q3 2024 compared to Q3 2023, reflecting tight expense control[1] - Selling, general and administrative expenses decreased to $1,411,000 for the three months ended September 30, 2024, down 19% from $1,748,000 in the same period of 2023[19] - Total operating expenses for the nine months ended September 30, 2024, were $5,691,000, down 11% from $6,406,000 in the same period of 2023[19] Product Performance - Evolve Rat product contributed approximately 52% of Q3 2024 revenue, with sales increasing by 11% compared to Q2 2024[2] - Evolve Mouse, launched in May 2024, contributed 17% of Q3 2024 revenue[2] - New product packaging launched for Evolve uses 87% less plastic than traditional pails, enhancing gross margins[3] Financial Loss and Adjusted EBITDA - The net loss for the three months ended September 30, 2024, was $1,513,000, a reduction of 22% compared to a net loss of $1,947,000 in the same period of 2023[19] - Adjusted EBITDA loss for the three months ended September 30, 2024, was $1,418,000, an improvement from a loss of $1,787,000 in the same period of 2023[20] Future Outlook - The Company expects to achieve cash flow breakeven in the near term due to accelerating revenue growth and improved gross margins[4] - The Company is negotiating with New York City for a rat contraception pilot program, responding to city requests[3] Other Financial Metrics - Research and development expenses for the three months ended September 30, 2024, rose to $451,000, a 19% increase from $379,000 in the prior year[19] - Weighted average shares outstanding for the three months ended September 30, 2024, increased significantly to 729,400 from 34,805 in the same period of 2023[19] - Loss per share for the three months ended September 30, 2024, was $(2.07), compared to $(55.93) in the same period of 2023[19] - Other income for the three months ended September 30, 2024, increased to $34,000, compared to $4,000 in the same period of 2023[19]

Record Revenue and Margin PerformancePHOENIX, Nov. 12, 2024 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES, "SenesTech" or the "Company"), the leader in fertility control to manage animal pest populations and the only manufacturer of commercial and consumer available EPA-registered Rat Birth Control® products today announced financial results for the third quarter of 2024.Recent Highlights Revenues of $1.4 million in the first nine months of 2024, an increase of 51% compared to the same period of 2023. Gross ...

Significantly Expanding Market Reach PHOENIX, Nov. 12, 2024 /PRNewswire/ -- SenesTech, Inc. (Nasdaq: SNES; "SenesTech" or the "Company"), a leader in fertility control solutions for managing animal pest populations, is excited to announce a significant expansion in the distribution of its groundbreaking rodent birth control product. Evolve™ Rat and Evolve™ Mouse are now available on Walmart Marketplace, one of the largest and most trusted eCommerce platforms in the world.SenesTech developed its proprietary ...

Financial results to be released after market close; Conference call to be conducted at 5:00 pm ETPHOENIX, Nov. 5, 2024 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES) will report financial results for its third quarter 2024, ended September 30, 2024, after the market close on Tuesday, November 12, 2024. The Company has scheduled a conference call that same day, Tuesday, November 12, 2024, at 5:00 pm ET, to review the results.Third Quarter 2024 Conference Call DetailsDate and Time: Tuesday, November 12, 2024 ...

PHOENIX, Oct. 31, 2024 /PRNewswire/ -- SenesTech, Inc. (Nasdaq: SNES), the leader in birth control to manage rodent pest populations, today announces the successful registration of Evolve™ in Hong Kong.A Sustainable and Humane Approach to Rodent ControlHong Kong welcomes Evolve™, an innovative, non-lethal rodent birth control solution designed to target rat infestations at their root. Unlike conventional methods, Evolve restricts rodent reproduction, offering an effective and humane way to manage infestatio ...

PHOENIX, Sept. 23, 2024 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), the rodent fertility control experts and inventors of the only EPA registered contraceptive for male and female rats, announced today it will participate in a webcasted presentation and host one-on-one meetings with investors at the Lytham Partners Fall 2024 Investor Conference, taking place virtually on Tuesday, October 1, 2024. Company Webcast The webcasted presentation will take place at 11:00am ET on Tuesday, October 1, 2024. The we ...