SenesTech Inc (NASDAQ:SNES) topline rises 122%

SenesTech Inc (NASDAQ:SNES) stock rose 2.06% (As on May 13, 11:31:09 AM UTC-4, Source: Google Finance) after the company in the first quarter of FY 22 has revenue growth of 122 percent to approximately $195,000 compared to approximately $88,000 in Q1 2021, an increase of 122%. Gross profit during Q1 2022 was approximately $90,000 or 46% of total revenue, compared to approximately $38,000, or 43% of total revenue in Q1 2021. Net loss during Q1 2022 was $(2.3) million, compared with a net loss of $(1.8) million for Q1 2021. Adjusted EBITDA loss, which is a non-GAAP measure of operating performance, for Q1 2022 was $(2.0) million compared to $(1.6) million in Q1 2021. Cash at the end of March 2022 was approximately $7.2 million.

Meanwhile, the Company continues to see strong growth from its recent marketing initiatives, including its award-winning “Operation Rat Race” campaign which has driven an increase in e-commerce sales, as well as accelerating close rates through its field sales team. Additionally, the Company has launched the novel and patent pending Elevate Bait System with ContraPest (“Elevate”), the first product of its kind specifically designed to address rat problems in above-ground locations. In addition to SenesTech’s sales and marketing strategy to drive increased awareness and recognition of ContraPest, the Company continues to experience improving market conditions from favorable legislative changes, growing environmental sensitivity, and an emerging preference for “earth-friendly” choices.

Moreover, after the EPAs approval of Elevate in March 2022, which was received ahead of internal expectations and allows for broad deployment options, the Company began its pre-launch marketing campaign.  The product is available for sale with initial deliveries beginning next week to key agricultural and commercial accounts in most states. These customers have requested a system that can better meet their needs of addressing roof rats that reside above ground, especially in the rafters of barns, granaries and storage and manufacturing facilities.  In preparation for the Company’s EPA submission for Elevate, SenesTech conducted extensive trials to prove the effectiveness of the system, providing potential customers the necessary data to make informed purchasing decisions, which should help to accelerate adoption of the system.  The Elevate system, with its suspended bait station is revolutionary within the pest control industry, which typically utilizes traditional bait boxes to deliver pesticides and other products. The system is designed to permit easy drop in and replacement of new 8 oz bottles of ContraPest, reducing servicing time and cost. stock rose 2.06% (As on May 13, 11:31:09 AM UTC-4, Source: Google Finance) after the company in the first quarter of FY 22 has revenue growth of 122 percent to approximately $195,000 compared to approximately $88,000 in Q1 2021, an increase of 122%. Gross profit during Q1 2022 was approximately $90,000 or 46% of total revenue, compared to approximately $38,000, or 43% of total revenue in Q1 2021. Net loss during Q1 2022 was $(2.3) million, compared with a net loss of $(1.8) million for Q1 2021. Adjusted EBITDA loss, which is a non-GAAP measure of operating performance, for Q1 2022 was $(2.0) million compared to $(1.6) million in Q1 2021. Cash at the end of March 2022 was approximately $7.2 million.

Meanwhile, the Company continues to see strong growth from its recent marketing initiatives, including its award-winning “Operation Rat Race” campaign which has driven an increase in e-commerce sales, as well as accelerating close rates through its field sales team. Additionally, the Company has launched the novel and patent pending Elevate Bait System with ContraPest (“Elevate”), the first product of its kind specifically designed to address rat problems in above-ground locations. In addition to SenesTech’s sales and marketing strategy to drive increased awareness and recognition of ContraPest, the Company continues to experience improving market conditions from favorable legislative changes, growing environmental sensitivity, and an emerging preference for “earth-friendly” choices.

Moreover, after the EPAs approval of Elevate in March 2022, which was received ahead of internal expectations and allows for broad deployment options, the Company began its pre-launch marketing campaign.  The product is available for sale with initial deliveries beginning next week to key agricultural and commercial accounts in most states. These customers have requested a system that can better meet their needs of addressing roof rats that reside above ground, especially in the rafters of barns, granaries and storage and manufacturing facilities.  In preparation for the Company’s EPA submission for Elevate, SenesTech conducted extensive trials to prove the effectiveness of the system, providing potential customers the necessary data to make informed purchasing decisions, which should help to accelerate adoption of the system.  The Elevate system, with its suspended bait station is revolutionary within the pest control industry, which typically utilizes traditional bait boxes to deliver pesticides and other products. The system is designed to permit easy drop in and replacement of new 8 oz bottles of ContraPest, reducing servicing time and cost.

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