SenesTech(SNES) - 2025 Q4 - Annual Results

Financial Performance - Revenue increased by 20% to $2.2 million in 2025 compared to 2024, with an estimated 30% growth excluding the impact of transitioning to direct Amazon management[5] - Gross profit margin improved to 62.5% in 2025 from 54.1% in 2024, driven by higher margins from the Evolve product line[5] - Net loss for 2025 was $6.4 million, slightly higher than the $6.2 million loss in 2024; adjusted net loss would have been $5.6 million excluding one-time legal expenses[5] - Adjusted EBITDA loss improved to $5.3 million in 2025 from $5.8 million in 2024, reflecting revenue growth and improved gross margins[5] - E-commerce revenue surged 88% year-over-year, with a potential growth of 130% if the transition-related revenue loss of $200,000 had been recognized[5] Strategic Initiatives - Direct management of Amazon sales is expected to enhance revenue and margins once fully integrated, despite a $200,000 revenue impact during the transition[5] - SenesTech's Board initiated a search for a new CEO following the retirement of Joel Fruendt, appointing Dr. Jamie Bechtel as Interim Executive Chair[6] Operational Highlights - Field validation showed a 79% decline in rat activity at one site and over 50% at another within five months of deploying Evolve products[5] - The company ended 2025 with cash and short-term investments of $8.6 million, sufficient to support operations through approximately Q2 2027[5] Balance Sheet Strength - The total assets increased to $12.8 million in 2025 from $3.3 million in 2024, reflecting a strengthened balance sheet[16]