Business
SenesTech Announces Second Quarter 2023 Financial Results
July 2023 Sales Increased 126% as New Initiatives Take Hold Expanded Product Offerings Expected to Drive Future Growth PHOENIX, Aug. 10, 2023 /PRNewswire/ --
About this update from Senestech, Inc.
[{"type":"text","content":"July 2023 Sales Increased 126% as New Initiatives Take Hold\nExpanded Product Offerings Expected to Drive Future Growth\nPHOENIX, Aug. 10, 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 financial results for the second quarter of 2023 for the period ended June 30, 2023.\n\n \n \n \n \n \n \n\n \n\"We successfully executed against a number of key strategic imperatives to drive long-term growth in ContraPest, resulting in continued growth in revenues during the second quarter,\" commented Joel Fruendt, SenesTech's President and Chief Executive Officer. \"Growth has since accelerated into the third quarter, with July 2023 sales growing 126% compared to the year ago period, as the initiatives we have undertaken to drive sales, improve our product quality, and expand product options have shown success.\"\nSales growth during the second quarter was led by significant increases in the government vertical driven by deployments in California and New England, as well as continued traction within zoos and animal sanctuaries. In the agribusiness vertical, the Company initiated shipments to major companies in grain and poultry as rodent population control becomes an increasingly important focus for pest management professionals where the risk of exposure to rodenticides is critical.\nThe Company continues to innovate its product offerings to provide customers with choices that fit their demands. In July 2023, the Isolate Bait System was launched as a more efficient and easier-to-use bait system, which integrates both the tank and tray as a single unit.\n\"Isolate should further accelerate the adoption of ContraPest by professionals and do-it-yourselfers,\" said Mr. Fruendt.\nSenesTech is also in the final stages of releasing a soft bait formulation, which provides the unique attributes of proven fertility control in an industry-familiar format demanded by 'big box' retailers, key e-commerce channels, and leading industry pest management professionals.\n\"When we introduced ContraPest, we needed to convince the pest control market of two things: the value of fertility control, and the applicability of a liquid bait into their procedures. A...