Summary by Moomoo AI
SenesTech, a company specializing in the development and commercialization of fertility control products for pest populations, reported a net loss of $1.6 million for the three months ended June 30, 2024, marking a 21% decrease from the $1.993 million loss in the same period in 2023. The company's revenues increased by 50% to $459,000 in Q2 2024 from $305,000 in Q2 2023, driven by the launch of new products. Gross profit improved by 75% to $249,000, with a gross profit margin of 54.2%, up from 46.4% in the previous year. Operating expenses decreased by 14% to $1.851 million, with research and development costs rising by 23% to $467,000, and selling, general, and administrative expenses decreasing by 21% to $1.384 million. SenesTech operates in one segment and generates revenue from six product markets, with a significant increase in revenue from distributors. The company...Show More