Summary by Moomoo AI
SenesTech, a company listed on the Nasdaq Capital Market under the symbol SNES, has reported its financial results for the year ended December 31, 2023. The company experienced a net loss of $7.7 million, a 20% decrease from the previous year's net loss of $9.7 million. Revenues increased by 17% to $1.2 million, up from $1.0 million in the previous year, driven by significant growth in agribusiness, commercial, and distributor vertical markets. Cost of sales rose by 18% to $654,000, resulting in a gross profit of $539,000, a 16% increase from the prior year. Operating expenses decreased by 18% to $8.3 million, with research and development expenses down 34% to $1.2 million and selling, general, and administrative expenses down 15% to $7.0 million. The company's cash and cash equivalents stood at $5.4 million at year-end, with...Show More
