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Earnings Call Summary | SenesTech(SNES.US) Q1 2024 Earnings Conference

Futu News ·  May 11 13:10  · Conference Call

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.

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