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

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 held its annual meeting on July 11, 2024, where stockholders approved an amendment to increase the number of shares available under the 2018 Plan and a reverse stock split of common stock at a ratio of one-for-ten. SenesTech anticipates continued operating losses and significant expenses, with cash and cash equivalents expected to fund operations for at least the next three months. The company's success hinges on the commercialization of fertility control products, regulatory approvals, market acceptance, and the ability to generate significant revenue and manage working capital needs.