SenesTech ( (SNES) ) has released its Q4 earnings. Here is a breakdown of the information SenesTech presented to its investors.
SenesTech, Inc., a leader in fertility control solutions for rodent population management, operates within the pest control industry, offering innovative products that integrate into pest management programs to reduce reliance on traditional poisons.
In its latest earnings report, SenesTech announced a record-breaking fourth quarter and full year 2024 financial performance, highlighted by a 70% increase in quarterly revenue and a significant improvement in gross profit margins. The company also reported a reduction in operating expenses and a notable decrease in its adjusted EBITDA loss.
Key financial metrics for the fourth quarter of 2024 included a revenue increase to $501,000, driven by a 206% growth in e-commerce sales, and an improved gross profit margin of 60.9%. Operating expenses were reduced by 16%, and the net loss decreased to $1.3 million. The company’s Evolve™ Rat and Evolve™ Mouse products contributed significantly to revenue, and new market expansions and partnerships were established both domestically and internationally.
Looking ahead, SenesTech is implementing new operating optimization initiatives aimed at reducing expenses by $2 million annually, which is expected to lower the revenue threshold for achieving cash flow breakeven. The management remains focused on executing its growth strategy and improving cost efficiency to accelerate its path to profitability, positioning the company to transform the rodent control market with its disruptive approach.