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SenesTech Announces 2022 Financial Results
Product Sales Break $1 Million Sales Increase 77% for the Year PHOENIX, March 16, 2023 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES, "SenesTech" or the
About this update from Senestech, Inc.
[{"type":"text","content":"Product Sales Break $1 Million\nSales Increase 77% for the Year \nPHOENIX, March 16, 2023 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES, \"SenesTech\" or the \"Company\"), (www.senestech.com) the rodent fertility control experts and inventors of the only EPA-registered contraceptive for male and female rats, ContraPest®, today announced 2022 financial results, with products sales increasing 77% compared to the prior year.\n\n \n \n \n \n \n \n\n \nJoel Fruendt, SenesTech's new Chief Executive Officer, commented, \"Breaking $1 million is a tremendous milestone. This was fueled in part by considerable progress during 2022 expanding ContraPest into key market verticals, while also launching novel new products such as the Elevate Bait System™ with ContraPest (\"Elevate\") to address significant new market opportunities. My goal for 2023 is to build off this improved base, to execute key initiatives to drive revenue growth, and to improve our operating efficiencies while continuously developing new product options that fit our customers' needs. Following my appointment in mid-November, we have already taken quick and decisive steps to achieve these goals.\"\nSales growth during the year and the fourth quarter was led by strong performance in the Company's e-commerce platform, which made up approximately 46% of 2022 product sales, as well as continued traction with zoos and animal sanctuaries and pest management professionals, which increased more than 100% during the fourth quarter. In December 2022, the Company announced that the City of Los Angeles had ordered and has now deployed ContraPest broadly at the Los Angeles Zoo as part of their Integrated Pest Management or \"IPM\" program, with a deployment plan that is expected to exceed 250 bait stations. Overall, 22 zoos, including 2 of the top 10 in the United States, are now using ContraPest.\n\"Further, we expect two more of the top 10 zoos to order during the first quarter of 2023. Besides being a target market in their own right, zoos and sanctuaries are the ultimate influencers in all things animal, so this continues to be a focus segment for us,\" said Nicole Williams, SenesTech's Chief Revenue Officer.\nThe Company is also achieving initial success, having secured significant contracts with government agencies, most recently with the County of Santa Clara. After an initial de...