The following is a summary of the SenesTech, Inc. (SNES) Q4 2023 Earnings Call Transcript:

Financial Performance:

• SenesTech reported an impressive 80% growth in total revenues for 2024 compared to the same period in 2023, primarily driven by orders for its new product, Evolve.

• The annual revenue was $1.2 million, a 17% increase from the previous year's $1.0 million.

• Gross profit for 2023 was $539,000, equivalent to 45% of total revenue.

• Operating expenses were successfully reduced by $1.6 million, improving the net loss position to $7.7 million, a reduction by $2 million compared to 2022.

• Adjusted EBITDA loss for 2023 showed an improvement, decreasing by $1.5 million over the previous year.

• SenesTech ended 2023 with $5.4 million in cash, reflecting a $5 million public offering completed in November 2023.

Business Progress:

• SenesTech successfully launched Evolve, expanding its market reach.

• The company established important partnerships with a large network of hardware stores, a pest management firm focused on the grain management market and a global leader in irrigation solutions.

• The company is close to finalizing deals with manufacturers focusing on retail relationships and added several new international distributors.

• The development team is making progress in creating a mouse control product due to launch mid-2024.

• Efforts are being made to expand e-commerce via a major online pest control product distributor.

• SenesTech has increased manufacturing capabilities with plans to double these in the near future.

• Plans are in progress to cut another $1 million in annual operating expenses.

More details: SenesTech IR

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