SenesTech(US:SNES)2021-03-26 00:18Financial Data and Key Metrics Changes - Revenue for the year was approximately $282,000 compared to approximately $143,000 in 2019, an increase of 97% [37] - Fourth quarter revenue was $97,000, which included $24,000 of grant revenue received [37] - Net loss for the year was $8.4 million compared with a loss of $10 million in 2019 [42] Business Line Data and Key Metrics Changes - Significant progress was made in obtaining real-world data, particularly in agricultural and urban settings, demonstrating the efficacy of ContraPest [12][20] - In agricultural settings, ContraPest cut rat populations in half within three months and produced a sustained 90% decline in rat activity over 12 months [14] - In urban settings, one site showed a 94% reduction in rat activity and a 98% decline in juvenile rats over 12 months [20] Market Data and Key Metrics Changes - The company is focusing on California due to the adoption of the Ecosystem Protection Act, which limits the use of common rodenticides [49] - The company is also targeting the southeastern U.S. and looking to expand into grain storage and transport markets [51] Company Strategy and Development Direction - The company is focused on ramping adoption of ContraPest in commercial settings and enhancing its e-commerce capabilities [29][30] - A collaboration with Liphatech was announced to develop a new non-liquid formulation of ContraPest, opening new market opportunities [24] - The company aims to leverage existing systems and regional distributors to increase market penetration [52] Management's Comments on Operating Environment and Future Outlook - Management expressed optimism for 2021, highlighting significant steps taken to position the company for future growth [31][34] - The company has a strong balance sheet with approximately $17.5 million in cash, providing visibility for driving business adoption [44] Other Important Information - Operating expenses decreased to $7.9 million in 2020 from $10 million in 2019, with sustainable operational improvements contributing to this reduction [41] - The company completed a $10 million private placement in February and a $4 million financing in March [43] Q&A Session Summary Question: What is the commercialization strategy going forward? - The focus will be on California, particularly with the Ecosystem Protection Act, and outreach to municipalities is a priority [49][50] Question: Will the company be more aggressive in marketing efforts now that it has a strong balance sheet? - Yes, the company plans to ramp up advertising and deploy cash strategically to drive sales [55][56] Question: What drove the top-line growth in 2020? - Growth was driven by a mix of direct sales and increased orders from various distributors, not solely from the online portal [57][58] Question: What is the share count after recent financings? - The pro forma share count is approximately 12.2 million [59] Question: What milestones should be looked for in 2021? - Key milestones include execution and revenue growth, along with updates on product improvements and initiatives with the EPA [60]