Summary by Futu AI
SenesTech, Inc., a leader in fertility control for managing animal pest populations, reported its financial results for the second quarter ended June 30, 2024. The company announced record revenues of $874,000 for the first half of 2024, marking a 62% increase compared to the same period in 2023. Gross margins also saw significant improvement, reaching 54% in Q2 2024, with a peak of 67% in June. The adjusted EBITDA loss for the quarter was the smallest in the company's history, indicating progress towards achieving break-even. The Evolve product line, launched at the beginning of 2024, has become the company's best-selling product, contributing about 60% of the year-to-date revenue. Sales growth was primarily driven by distributor sales and direct sales to e-commerce and pest management customers...Show More