Senestech (NASDAQ:SNES) Issues Quarterly Earnings Results, Misses Expectations By $0.05 EPS

Senestech (NASDAQ:SNES) posted its earnings results on Tuesday. The company reported ($0.36) earnings per share for the quarter, missing the consensus estimate of ($0.31) by ($0.05), FiscalAI reports. The company had revenue of $1.10 million during the quarter, compared to analyst estimates of $0.92 million. Senestech had a negative net margin of 275.26% and a negative return on equity of 88.62%.

Here are the key takeaways from Senestech’s conference call:

• SenesTech reported record third-quarter revenue of $1.1 million, up 59% year over year, and record gross profit of $796,000. Gross margin was 72.6%, slightly below 73.6% in the prior quarter but above 62.8% a year earlier.
• E-commerce revenue rose 337% year over year and accounted for 71% of total revenue; subscription revenue increased 234% year over year, with subscribers across Amazon and the company website up 72% sequentially. Management said it is evaluating pricing and packaging to encourage longer-term product use and subscription adoption.
• Direct B2B revenue grew 19% sequentially, and the company is expanding its sales team and assessment services. Management cited Chicago deployments that reduced average rodent activity intensity by 88% over 12 months, while noting that direct B2B revenue was up just 2% year over year.
• The company reported a $2.0 million net loss, compared with $1.3 million a year earlier, while operating expenses rose to $2.8 million. Cash was $4.0 million at quarter-end, and operating cash use was $1.3 million; SenesTech also raised $1.2 million through its ATM after quarter-end, issuing about 1.3 million shares and prompting investor concerns about dilution.

Senestech Trading Up 6.4%

NASDAQ SNES traded up $0.06 during trading on Thursday, hitting $0.95. The stock had a trading volume of 15,158 shares, compared to its average volume of 362,085. The company has a quick ratio of 5.81, a current ratio of 6.78 and a debt-to-equity ratio of 0.02. The company has a market capitalization of $5.15 million, a PE ratio of -0.66 and a beta of 0.11. The firm has a 50 day moving average price of $0.85 and a 200 day moving average price of $1.45. Senestech has a twelve month low of $0.55 and a twelve month high of $3.03.

Analyst Ratings Changes

Separately, Weiss Ratings restated a “sell (e+)” rating on shares of Senestech in a research note on Wednesday, November 4th. One research analyst has rated the stock with a Sell rating. According to data from MarketBeat.com, the stock presently has an average rating of “Sell”.

Insider Activity

In other Senestech news, major shareholder Glenbrook Capital Management purchased 28,000 shares of the company’s stock in a transaction on Wednesday, October 28th. The stock was acquired at an average price of $0.97 per share, for a total transaction of $27,160.00. Following the completion of the purchase, the insider directly owned 2,194,973 shares in the company, valued at approximately $2,129,123.81. The trade was a 1.29% increase in their position. The purchase was disclosed in a filing with the Securities & Exchange Commission, which can be accessed through this hyperlink. Insiders have bought a total of 1,123,679 shares of company stock worth $814,836 over the last 90 days. 2.20% of the stock is currently owned by corporate insiders.

About Senestech

SenesTech, Inc. is a biotechnology company focused on developing fertility-control technologies for managing animal populations. The company’s approach is designed to reduce reproduction rather than rely solely on lethal control methods, with applications primarily in rodent management. SenesTech’s principal product is ContraPest, a liquid bait designed to reduce fertility in rats by affecting reproductive function in both male and female animals. The product is intended for use in commercial, municipal and other settings where rat populations pose sanitation, health or property risks.