SenesTech, a developer of technologies for managing animal pest populations through fertility control, reported a net loss of $1.8 million for the first quarter of 2024, a 10% decrease from the $2.0 million net loss in the same period of 2023. The company's revenues increased by 78% year-on-year to $415,000, driven by the launch of their new product, Evolve. Despite the increase in sales, the cost of sales also rose by 99%, resulting in a gross profit of $135,000, up 47% from the previous year. Operating expenses decreased by 7%, with research and development costs down 4% and selling, general, and administrative expenses down 8%. The company has continued to sustain significant operating losses and expects these to continue in the near future. SenesTech has primarily funded its operations through...Show More

SenesTech, a developer of technologies for managing animal pest populations through fertility control, reported a net loss of $1.8 million for the first quarter of 2024, a 10% decrease from the $2.0 million net loss in the same period of 2023. The company's revenues increased by 78% year-on-year to $415,000, driven by the launch of their new product, Evolve. Despite the increase in sales, the cost of sales also rose by 99%, resulting in a gross profit of $135,000, up 47% from the previous year. Operating expenses decreased by 7%, with research and development costs down 4% and selling, general, and administrative expenses down 8%. The company has continued to sustain significant operating losses and expects these to continue in the near future. SenesTech has primarily funded its operations through the sale of equity securities and has an accumulated deficit of $131.7 million as of March 31, 2024. Looking forward, SenesTech anticipates that its current cash and cash equivalents, along with anticipated revenue and potential equity sales, will fund operations for at least the next six months. However, the company acknowledges the need for additional financing to achieve profitability and may need to seek further capital through equity or debt financing.