Business
SenesTech Announces Second Quarter 2020 Financial and Operational Results
PHOENIX, Aug. 12, 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, Aug. 12, 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 second quarter of fiscal year 2020, which ended on June 30, 2020.\n\n \n \n \n \n \n \n\n \nKen Siegel, CEO of SenesTech, commented, \"I am pleased with the steady progress SenesTech made during the quarter in face of the severe headwinds of COVID-19. During the second quarter, we reported revenue growth, advancement of key pilot programs for the municipal and poultry industries, progress in the positioning of ContraPest as a highly effective tool when included as part of an integrated pest management strategy, creation of our direct-to-consumer online platform, and advancement toward making the product more user friendly and available for use in an increasing numbers of applications.\"\n\"The second quarter marked our highest revenue quarter over the past six quarters which excludes product donated to Washington D.C. for their assistance in helping us conduct studies in the District. Washington D.C. has indicated it will be deploying ContraPest on a widespread basis as their budget permits. We likewise have made progress in additional municipalities and poultry facilities with confirmation from program directors that ContraPest will be added to their repertoire in the third quarter. At the same time, our new e-commerce platform has enabled us to tap the direct to consumer market, that although small, is showing significant month to month growth.\"\n\"We remain focused on executing on our vision of completely revamping SenesTech towards becoming a long-term and sustainable commercial sales organization. We are putting in place the necessary tools and infrastructure to accomplish this goal and are confident that the aggressive actions we have taken over the past 12 months will continue to show in our economic performance in the near future.\"\nThis Quarter's Highlights\nRevenue during the second quarter of 2020 was approximately $71,000 compared to approximately $24,000 in the second quarter of 2019. After concluding an initial deployment with demonstrated success, the Company arranged to provide ContraPest to Washington DC to help the District rapidly scale ContraPest. Despite challe...