Summary by Moomoo AI
SenesTech reported fiscal year 2024 revenue of $1.9 million, a 56% increase from $1.2 million in 2023, driven by the successful launch of its Evolve fertility control product line. Gross profit rose 86% to $1.0 million, with gross margin improving to 54.1% from 45.2%. Net loss narrowed to $6.2 million from $7.7 million in the prior year.The company expanded its product portfolio with the launch of Evolve Rat in January 2024 and Evolve Mouse in May 2024, which contributed approximately 66% of total revenue. Operating expenses decreased 12% to $7.3 million, reflecting lower personnel costs and professional fees. Research and development expenses increased 39% to $1.7 million as the company focused on product development.As of December 31, 2024, SenesTech had cash and cash equivalents of $1.3 million. The company secured authorization to sell Evolve in 48 states and Evolve Mouse in 35 states. Management continues to focus on commercial expansion and operational efficiency while noting the need for additional capital to fund future growth initiatives.
Comment(0)
Reason For Report