SenesTech (NASDAQ: SNES), the rodent-fertility control experts and inventors of the only EPA-registered contraceptive for male and female rats, ContraPest(R), has released its financial results for fiscal year 2023. According to the report, year-to-date 2024 total revenue is up more than 80% compared to YTD 2023 driven by orders for the company’s proprietary Evolve(TM) soft bait. Other highlights from the report show revenue during 2023 increased 17%, reaching $1.2 million compared to $1 million in 2022; gross profit during 2023 was also up, totaling $539,000 compared to $464,000 in 2022, with gross profit margin at 45.2% in 2023 compared to 45.5% in 2022; net loss decreased in 2023, coming in at $7.7 million compared to $9.7 million for 2022; and Adjusted EBITDA loss, which is a non-GAAP measure of operating performance, was $6.9 million for 2023, compared to $8.5 million in 2022, an improvement of $1.5 million.
“During 2023, we executed on a number of key initiatives that will be the foundation to drive growth into the future, most notably was the development of Evolve, our all-new soft bait product that was launched on a limited basis at the end of 2023,” said SenesTech president and CEO Joel Fruendt in the press release. “Since the full launch of Evolve in January 2024, we have seen a significant uptick in interest and orders from a wide range of sales channels and geographies. For instance, we were recently approved as a vendor for a major nationwide hardware retailer; we have signed distribution and stocking agreements for grain-management and open-field agricultural applications; and we have expanded our geographical reach outside the United States, including Hong Kong, Macau, the United Arab Emirates, Singapore, Australia, New Zealand and the Netherlands. It is increasingly clear that Evolve is a game changing product that will be a key driver to our revenue growth in 2024.”
To view the full press release, visit https://ibn.fm/sk8Ye
About SenesTech Inc.
SenesTech is committed to improving the health of the world by humanely managing animal-pest populations through fertility control. SenesTech is an expert in fertility control to manage animal pest populations. The company invented ContraPest, the only U.S. EPA-registered contraceptive for male and female rats, and Evolve, an EPA-designated minimum-risk contraceptive currently offered for rats. ContraPest and Evolve fit seamlessly into all integrated pest-management programs, significantly improving the overall goal of effective pest management. The company strives for clean cities, efficient businesses and happy households by providing a product designed to be humane, effective and sustainable. For more information about the company, please visit www.SenesTech.com.
NOTE TO INVESTORS: The latest news and updates relating to SNES are available in the company’s newsroom at https://ibn.fm/SNES
About MissionIR
MissionIR (“MIR”) is a specialized communications platform with a focus on assisting IR firms with syndicated content to enhance the visibility of private and public companies within the investment community. It is one of 60+ brands within the Dynamic Brand Portfolio @ IBN that delivers: (1) access to a vast network of wire solutions via InvestorWire to efficiently and effectively reach a myriad of target markets, demographics and diverse industries; (2) article and editorial syndication to 5,000+ outlets; (3) enhanced press release enhancement to ensure maximum impact; (4) social media distribution via IBN to millions of social media followers; and (5) a full array of tailored corporate communications solutions. With broad reach and a seasoned team of contributing journalists and writers, MIR is uniquely positioned to best serve private and public companies that want to reach a wide audience of investors, influencers, consumers, journalists and the general public. By cutting through the overload of information in today’s market, MIR brings its clients unparalleled recognition and brand awareness.
MIR is where breaking news, insightful content and actionable information converge.
For more information, please visit www.MissionIR.com
Please see full terms of use and disclaimers on the MissionIR website applicable to all content provided by MIR, wherever published or re-published: https://www.MissionIR.com/Disclaimer
MissionIR
Los Angeles, CA
www.MissionIR.com
310.299.1717 Office
[email protected]
MissionIR is powered by IBN
