Business
SenesTech Announces Fourth Quarter and Fiscal 2019 Financial and Operational Results
PHOENIX, March 16, 2020 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), a developer of proprietary, next generation technologies for managing animal pest
About this update from Senestech, Inc.
[{"type":"text","content":"PHOENIX, March 16, 2020 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), a developer of proprietary, next generation technologies for managing animal pest populations through fertility control, today announced financial and operational results for the fourth quarter and fiscal year 2019, which ended on December 31, 2019.\n\n \n \n \n \n \n \n\n \nRecent highlights:\nLaunching e-commerce platform: the new program is expected to launch this week and will be available to consumers in 47 states. Washington D.C.: the camera studies support the demonstration of efficacy, including a 77% reduction in the ratio of juveniles to adults. Moving to final phase in anticipation of wide scale deployment. San Francisco: the deployment in park settings has shown excellent results and the customer has deployed at an additional site. Los Angeles: the PMP servicing the animal sanctuary deployment is reporting good consumption, which is a precursor to demonstrated efficacy. Poultry farms: the deployments are achieving high levels of consumption and making progress against the goals of demonstrating long term economic value and optimized deployment protocols for this market segment. National retail: the customer continues roll out to additional locations. Island Conservation demonstration deployment: the project is designed to develop protocols for deploying ContraPest® in environmentally sensitive areas, such as corporate campuses and conservation areas and will roll out in April. Executive Vice President of Sales and Marketing: Steve Krause, Ph.D., joined the SenesTech team, bringing experience in commercializing bio-rational pest management solutions for the global market.Financial results highlights:\nRevenue during 2019 increased sequentially each quarter. During the fourth quarter of 2019, revenue totaled $64,000, compared to $36,000 in the third quarter of 2019, $24,000 in the second quarter of 2019, and $19,000 in the first quarter of 2019. Fiscal year 2019 revenue totaled $143,000 versus $297,000 in fiscal year 2018. The decrease year over year is due primarily to a large sale in December, 2018 to a customer that did not need to place a reorder in 2019. On a GAAP basis, net loss for fiscal year 2019 was $(10.0) million, compared with a net loss of $(11.9) million for fiscal year 2018. 2019 results include $(0.7) million in severance costs. Ad...