Senestech (NASDAQ:SNES) Announces Earnings Results

Senestech (NASDAQ:SNES – Get Free Report) posted its quarterly earnings data on Tuesday. The company reported ($0.36) EPS for the quarter, missing the consensus estimate of ($0.31) by ($0.05), FiscalAI reports. Senestech had a negative return on equity of 71.89% and a negative net margin of 294.73%. The company had revenue of $1.10 million during the quarter, compared to the consensus estimate of $0.92 million.

Here are the key takeaways from Senestech’s conference call:

• SenesTech reported record third-quarter revenue of $1.1 million, up 59% year over year, and record gross profit of $796,000. Gross margin was 72.6%, slightly below 73.6% in the prior quarter but above 62.8% a year earlier.
• E-commerce revenue rose 337% year over year and accounted for 71% of total revenue; subscription revenue increased 234% year over year, with subscribers across Amazon and the company website up 72% sequentially. Management said it is evaluating pricing and packaging to encourage longer-term product use and subscription adoption.
• Direct B2B revenue grew 19% sequentially, and the company is expanding its sales team and assessment services. Management cited Chicago deployments that reduced average rodent activity intensity by 88% over 12 months, while noting that direct B2B revenue was up just 2% year over year.
• The company reported a $2.0 million net loss, compared with $1.3 million a year earlier, while operating expenses rose to $2.8 million. Cash was $4.0 million at quarter-end, and operating cash use was $1.3 million; SenesTech also raised $1.2 million through its ATM after quarter-end, issuing about 1.3 million shares and prompting investor concerns about dilution.

Senestech Price Performance

SNES stock traded down $0.07 during trading on Wednesday, reaching $0.95. The company’s stock had a trading volume of 32,200 shares, compared to its average volume of 363,118. Senestech has a 1 year low of $0.55 and a 1 year high of $3.40. The company has a quick ratio of 5.81, a current ratio of 6.78 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $5.18 million, a P/E ratio of -0.67 and a beta of 0.11. The company’s fifty day moving average is $0.85 and its 200-day moving average is $1.45.

Insider Buying and Selling

In other Senestech news, major shareholder Glenbrook Capital Management acquired 28,000 shares of the stock in a transaction dated Wednesday, October 28th. The shares were acquired at an average cost of $0.97 per share, for a total transaction of $27,160.00. Following the completion of the transaction, the insider directly owned 2,194,973 shares of the company’s stock, valued at approximately $2,129,123.81. The trade was a 1.29% increase in their ownership of the stock. The purchase was disclosed in a legal filing with the SEC, which is available through the SEC website. Insiders bought 1,123,679 shares of company stock worth $814,836 over the last quarter. 2.20% of the stock is owned by company insiders.

Analyst Upgrades and Downgrades

Separately, Weiss Ratings reissued a “sell (e+)” rating on shares of Senestech in a report on Wednesday, November 4th. One analyst has rated the stock with a Sell rating. Based on data from MarketBeat.com, the company has a consensus rating of “Sell”.

Get Our Latest Analysis on SNES

Senestech Company Profile

(Get Free Report)

SenesTech, Inc. is a biotechnology company focused on developing fertility-control technologies for managing animal populations. The company’s approach is designed to reduce reproduction rather than rely solely on lethal control methods, with applications primarily in rodent management. SenesTech’s principal product is ContraPest, a liquid bait designed to reduce fertility in rats by affecting reproductive function in both male and female animals. The product is intended for use in commercial, municipal and other settings where rat populations pose sanitation, health or property risks.

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