SenesTech Q1 revenue up 19% to $233K; net loss narrows to $2.0M

SenesTech, Inc.

2023-Q1 EPS reported -$1.32 revenue$233,000

Revenue $233K vs $195K YoY (+19%); e-commerce sales grew 54% and comprised 45% of product sales.
Gross profit margin 39.6% (57.8% excluding defective inventory scrapping); net loss $2.0M vs $2.3M.
Adjusted EBITDA loss $1.8M; cash $2.7M at quarter end; subsequent $1.5M registered direct offering in April 2023.
Signed distribution agreements with Veseris and Target Specialty Products; TIME Magazine feature on ContraPest.
Biosynthetic triptolide development with TriptoBIO; soft bait candidate progressing with Liphatech.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

SenesTech, Inc. reported first quarter ended March 31, 2023 results: revenue $233,000, net income $2.0 million.

Period: first quarter ended March 31, 2023
Revenue: $233,000
Net income: $2.0 million
Result: reported results

Exact text from the filing

Revenue during Q1 2023 was $233,000 compared to $195,000 in Q1 2022, an increase of 19%. • Gross profit during Q1 2023 was $92,000, for a gross profit margin of 39.6%, compared to $90,000, or a gross profit margin of 46.2%, in Q1 2022. Excluding costs related to the scrapping of defective inventory no longer used in our products, gross profit margin was 57.8% in Q1 2023. • Net loss during Q1 2023 was $2.0 million, compared with a net loss of $2.3 million for Q1 2022.

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Source: SEC EDGAR

accession 0001628280-23-017548

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