Business
SenesTech Announces Year-End 2021 Financial and Operational Results
Product Sales up 123% as the Company Drives ContraPest® Deployment in New and Existing Market Verticals PHOENIX, March 29, 2022 /PRNewswire/ -- SenesTech,
About this update from Senestech, Inc.
[{"type":"text","content":"Product Sales up 123% as the Company Drives ContraPest® Deployment in New and Existing Market Verticals\nPHOENIX, March 29, 2022 /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®, announced today that revenues for 2021 more than doubled compared to last year as the Company accelerated penetration in existing markets and expanded into a number of new market verticals.\n\n \n \n \n \n \n \n\n \nSince the end of 2021, the Company has announced a number of key deployments in government applications, accelerating penetration as more cities and counties recognize the growing success of ContraPest through media reports and marketing efforts. Also notably, Los Angeles County specified the use of fertility control in one of their requests for proposal, a trend that is expected to continue. Additionally, deployments to new customers, such as wildlife preserves and correctional facilities are expected to drive continued growth in the coming years.\nContraPest continues to see tailwinds from favorable legislative changes, growing environmental sensitivity, and an emerging preference for \"clean tech\" choices. Active customers have grown over 300% during the year. Driven by California's legislation restricting the use of major second-generation anticoagulant rodenticides (SGARs), year-to-date sales to California are approximately 28% of overall sales.\nContraPestStore.com, launched in May 2021, continues to be a key driver of growth within the business. \"Self-service\" e-commerce sales were nearly a third of 2021 revenue, and e-commerce sales as a whole showed strong growth over the year. To accelerate initial adoption and first-time purchase, the Company has enacted package and promotional discounts, which have impacted near-term gross margins. The Company believes this will drive longer-term purchase renewals as the benefits of ContraPest are recognized by customers.\nKey to the growth in 2021 has been the deployment of sales acceleration tactics to drive increased awareness and recognition of ContraPest, including enhanced marketing techniques; new advertising and public relations initiatives through the \"Operation Rat Race\" campaign; development of a new ...