The following is a summary of the SenesTech, Inc. (SNES) Q1 2024 Earnings Call Transcript:
Financial Performance:
SenesTech reported Q1 2024 revenue of $415,000, a 78% increase compared to Q1 2023.
Despite higher costs due to a supply chain issue, the operating expenses decreased by 8% to $2 million.
The company reported a net loss of $1.8 million in Q1 2024, an improvement of $200,000 from Q1 2023.
They aim to further reduce their annual operating expenses by $1 million in 2024.
Business Progress:
SenesTech successfully launched a new product, Evolve, which accounted for over half of their Q1 2024 revenue.
With efficacy studies now completed, Evolve is expected to receive approval in more states.
The introduction of Evolve Mouse doubled the market opportunity and is anticipated to drive growth throughout the year.
SenesTech is also seeing substantial interest internationally through their six-channel distribution strategy.
Their product, Evolve, plays a significant role in the financial growth and expansion plans for 2024.
More details: SenesTech IR
Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.