NetworkNewsBreaks — SenesTech Inc. (NASDAQ: SNES
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Posted On: 11/10/2023 3:14:45 PM
NetworkNewsBreaks — SenesTech Inc. (NASDAQ: SNES) Reports on Q3 2023 Financial Results, Business Update
SenesTech (NASDAQ: SNES), the leader in fertility control to manage animal pest populations, is reporting its third-quarter 2023 financial results and key achievements. According to the report, revenue growth increased 44% for the company compared to Q3 2022, with net loss improving by an estimated $700,00 for the same period while adjusted EBITDA loss, which is a non-GAAP measure of operating performance, was $1.7 million compared to $2.4 million in third quarter 2022. The company reported cash on hand at the end of the quarter to be $2.1 million. The report also noted that the company begins shipping its Evolve Soft Bait next week; the new product is projected to be a key driver for future revenue growth for SenesTech. “We accelerated our growth trajectory during the third quarter with strong 44% year-over-year growth in revenues driven by the initiatives we have undertaken to drive sales, improve our product quality, and expand our product options,” said SenesTech president and CEO Joel Fruendt in the press release. “We expect this growth to further accelerate as we launch our Evolve Soft Bait, the first and only soft bait developed to control pest populations using a breakthrough technology that targets the rat population where it starts, by restricting fertility through nonlethal methods. We have received preorders and expect to start shipping product next week.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
SenesTech (NASDAQ: SNES), the leader in fertility control to manage animal pest populations, is reporting its third-quarter 2023 financial results and key achievements. According to the report, revenue growth increased 44% for the company compared to Q3 2022, with net loss improving by an estimated $700,00 for the same period while adjusted EBITDA loss, which is a non-GAAP measure of operating performance, was $1.7 million compared to $2.4 million in third quarter 2022. The company reported cash on hand at the end of the quarter to be $2.1 million. The report also noted that the company begins shipping its Evolve Soft Bait next week; the new product is projected to be a key driver for future revenue growth for SenesTech. “We accelerated our growth trajectory during the third quarter with strong 44% year-over-year growth in revenues driven by the initiatives we have undertaken to drive sales, improve our product quality, and expand our product options,” said SenesTech president and CEO Joel Fruendt in the press release. “We expect this growth to further accelerate as we launch our Evolve Soft Bait, the first and only soft bait developed to control pest populations using a breakthrough technology that targets the rat population where it starts, by restricting fertility through nonlethal methods. We have received preorders and expect to start shipping product next week.”
Please see full terms of use and disclaimers on the NetworkNewsWire website applicable to all content provided by NNW, wherever published or re-published: http://NNW.fm/Disclaimer
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