SNES

This article first appeared on GuruFocus. Revenue: $770,000, a 56% increase sequentially and a 23% increase year-over-year. E-commerce Revenue: Record $511,000, up 186% sequentially and 206% year-over-year. Amazon Revenue: Record $349,000, up 473% sequentially. Direct-to-Consumer (DTC) Subscription Revenue: Record $104,000, up 89% sequentially and 142% year-over-year. B2B Revenue: $259,000; core B2B revenue increased 11% sequentially and 14% year-over-year, excluding one-time items. Evolve Product Revenue: $662,000, up 27% year-over-year, representing 86% of product revenue. ContraPest Product Revenue: $107,000, up 43% sequentially. Gross Profit: Record $567,000, up 68% sequentially and 39% year-over-year. Gross Margin: Record 73.6%, up 510 basis points sequentially and 810 basis points year-over-year. Net Loss: $1.8 million, improved sequentially from $2.1 million in Q1 2026. Adjusted EBITDA Loss: $1.4 million, improved 15% sequentially. Cash and Cash Equivalents: $5.1 million at end of quarter. Warning! GuruFocus has detected 2 Warning Signs with SNES. Is SNES fairly valued? Test your thesis with our free DCF calculator. Release Date: August 05, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Record Q2 revenue of $770,000, up 56% sequentially, driven by strong e-commerce growth. E-commerce revenue surged 186% sequentially to a record $511,000, with Amazon revenue up 473%. Gross margin reached a company record of 73.6%, up 510 basis points sequentially. Subscription revenue grew 89% sequentially and 142% year-over-year, with subscriber counts up 117%. Core B2B revenue increased 11% sequentially and 14% year-over-year, excluding one-time items. Net loss increased year-over-year to $1.8 million from $1.6 million in Q2 2025. Adjusted EBITDA loss widened to $1.4 million from $1.2 million in the prior year quarter. Cash burn remains significant, with $1.7 million used in Q2 and only $5.1 million in cash, sufficient for nine months. B2B revenue declined 26% sequentially and 44% year-over-year on a reported basis. No immediate orders expected from Washington D.C. or New York City trials, limiting near-term municipal growth. Q: Can you elaborate on the B2B revenue increase of 14% excluding the one-off $180,000 order in the previous period? Did this achieve your internal targets?A: Michael Edell (President & CEO): The internal targets for Q1 and Q2 were focused on putting in place the methodology and analytics to track the B2B pipeline. That process took us through Q2 to complete. Now we have clear visibility on the pipeline, timeframes, close rates, and other analytics that come with implementing these B2B processes. Q: What is the acceleration in revenue for B2B that we should expect going forward?A: Michael Edell (President & CEO): I'm not going to give forward guidance, but keep in mind that Jack, our new EVP of Sales, only started full-time on July 1. Prior to that, he was helping implement changes on a part-time basis. We also just brought on a new director of marketing on July 15, and I only took over as CEO on May 6. This gives you an indication of how fast things are moving in such a short time frame. Q: Does the sales team have team members focused by vertical or generalists looking across the verticals that you've identified?A: Michael Edell (President & CEO): We are territory-based in our B2B sales setup. We've learned that 80% of what you do in a particular vertical is consistent across all verticals, while the other 20% regarding ROI needs to be tailored. We're dividing the country by territory, and each rep will cover the verticals within their territory, equipped with marketing materials that allow them to switch between a municipality, agribusiness, farm, or sanctuary effectively. Q: What are your thoughts on the timeline to profitability or the general quarterly revenue required to reach profitability?A: Michael Edell (President & CEO): I can't speak to forward guidance, but the focus is on driving the monthly run rate and maintaining gross profit margins to move us toward profitability. You have to be increasing monthly run rates and driving revenues to pull that off. Q: Are there any updates you can provide on New Zealand, Australia, India, and elsewhere in Asia?A: Michael Edell (President & CEO): We are currently deploying to New Zealand, which has some of the most sophisticated rodent and pest management programs. In Australia, we are still going through the regulatory process. We are not doing anything in India or elsewhere in Asia at this point. Q: When will we know if Washington, D.C. will take ContraPest or Evolve to further use beyond the pilot?A: Michael Edell (President & CEO): There are different pilots going on, but our focus is on Chicago and surrounding areas. They are the most forward-thinking in terms of deployment. We are on our fifth deployment within the Chicago area, and that's where we are focusing our attention because they are moving toward deployment and implementation. Q: Do you feel the retail customer is gaining a better understanding of the product advantages post-repackaging efforts and early digital marketing?A: Michael Edell (President & CEO): It became clear that consumers were not understanding how to use the product or the timeframe for effectiveness. Our solution takes time because you have to get through the birth cycle of rodents. Since we redid the packaging and reset expectations, we are seeing the effect in the explosive growth on the e-commerce side. Consumers now understand the product. Q: How and when will new capital be raised as it looks likely that capital will be burned before profitability?A: Michael Edell (President & CEO): I can't give future guidance, but we are aware of the company's needs. What we wanted to do first was demonstrate execution, which will make any future efforts much easier. Q: Are there any large contracts you expect to win in the second half of the year, whether municipalities, farms, etc.?A: Michael Edell (President & CEO): We have shifted our focus to larger-scale projects and no longer focus on $500 opportunities. We are working with companies and organizations with much larger scale. We've just brought on new team members to the B2B sales team, but we will need another two quarters to demonstrate larger deals. Q: The Caribbean seems a strong target market. Are there other international markets with strong potential?A: Michael Edell (President & CEO): We shifted our focus to finding partners in international markets willing to pay for the regulatory process. We don't look at a market unless partners step up to fund that effort, rather than spending time and resources with no near-term revenue. Q: Since the National Park Service trials in D.C. and New York City trials were reportedly successful, will orders likely be forthcoming?A: Michael Edell (President & CEO): Some of those trials were run independently without our assistance or support. I don't anticipate anything coming from D.C. or New York City at this point. The growth in municipalities is expected to come from Illinois, specifically the Chicago area. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Financial results to be released after market close; Conference call to be conducted at 5:00 p.m. Eastern time PHOENIX, July 29, 2026 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), a leader in fertility control solutions for managing rodent populations, will report financial results for its second quarter 2026, ended June 30, 2026, after the market close on Wednesday, August 5, 2026. The Company has scheduled a conference call that same day, Wednesday, August 5, 2026, at 5:00 pm ET, to review the results. Second Quarter 2026 Conference Call Details Date and Time: Wednesday, August 5, 2026, at 5:00 p.m. Eastern time Live Webcast Information: Interested parties can access the conference call via a live webcast, which is available in the Investor Relations section of the Company's website at https://app.webinar.net/YnBlE97qw2G or http://senestech.investorroom.com/. Replay: A webcast replay will be available in the Investor Relations section of the Company's website at http://senestech.investorroom.com/ for at least 90 days. About SenesTech SenesTech is the leader in rodent birth control solutions. The Company's patented products, marketed under its Evolve® and ContraPest® brands, provide effective, sustainable approaches to long-term rodent population management that can be integrated into existing pest management programs or used independently. SenesTech serves both consumer and professional markets with science-based solutions aimed at addressing one of the world's most persistent pest challenges. For more information, visit https://senestech.com. Safe Harbor StatementThis press release contains "forward-looking statements" within the meaning of federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Forward-looking statements may describe future expectations, plans, results or strategies and are often, but not always, made through the use of words such as "believe," "may," "future," "plan," "will," "should," "expect," "anticipate," "eventually," "project," "estimate," "continuing," "intend" and similar words or phrases. You are cautioned that such statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include, among others, the successful commercialization of our products; market acceptance of our products; our financial performance, including our ability to fund operations; and regulatory approval and regulation of our products and other factors and risks identified from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise. CONTACT: Investor: Robert Blum, Lytham Partners, LLC, 602-889-9700, [email protected] Company: Tom Chesterman, Chief Financial Officer, SenesTech, Inc., 928-779-4143 View original content to download multimedia:https://www.prnewswire.com/news-releases/senestech-to-report-second-quarter-2026-financial-results-on-wednesday-august-5-2026-302837103.html

Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Management is transitioning the business from a product-focused entity to one defined by commercial execution at scale, prioritizing a data-driven operating model. The company deliberately moved Amazon operations in-house to gain direct control over customer data, pricing visibility, and media buying efficiency, which was previously managed by third parties. Performance attribution for the quarter highlights a 42% increase in direct-to-consumer (DTC) revenue, driven by the strategic prioritization of e-commerce as a core growth engine. B2B operations have been restructured to improve pipeline visibility and forecasting accountability, focusing resources on high-impact opportunities rather than a broad list of prospects. Gross margin reached a record 68.6%, which management attributes to improved production efficiency and a disciplined reduction in reliance on discounted sales activity. The strategic rationale for leading with DTC is to build brand awareness that will eventually lower the barrier to entry for large brick-and-mortar retail partnerships. Management is emphasizing 'rat birth control' messaging in new packaging to eliminate consumer ambiguity and provide clarity at the point of purchase. The company expects continued quarter-over-quarter revenue growth and anticipates breaking further sales records as the DTC transition matures. Subscription revenue is a central pillar of the forward strategy, aimed at building a predictable recurring revenue base and lowering long-term customer acquisition costs. Product expansion plans include launching attractant and repellent products to create a complete 'ecosystem' around the core fertility control solutions. International expansion will follow a disciplined approach, focusing only on markets with efficient regulatory paths or where local partners fund the multi-year approval process. Current cash reserves of $6.8 million are projected to provide an operating runway into the third quarter of 2027 based on the current plan. First quarter results included $443,000 in one-time expenses related to severance, legal costs, and strategic restructuring aimed at streamlining the organization. The 12-month New York City rat contraception pilot program is expected to conclude this month, with results pending internal data preparation. Management noted a short-term channel disruption during the quarter as third-party inventory cleared the Amazon channel during the transition to direct management. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here. CEO Michael Edell expressed confidence in achieving quarter-over-quarter growth and continuing to set new revenue records. This confidence is rooted in the early April data, which showed a 163% year-over-year increase in e-commerce sales following the Amazon transition. Management will avoid markets requiring 2-3 years of regulatory investment unless local partners bear the costs. The company has seen an uptick in search inquiries related to rodent solutions following heightened awareness of the Hantavirus. The primary strategy for reaching breakeven is driving high-quality recurring revenue to reduce the monthly burn rate. CFO Tom Chesterman noted the company is exploring debt for cash flow management and equipment financing to move away from pure equity funding. Management clarified that large retailers like Home Depot require established brand awareness before carrying products in-store. The current DTC and Amazon focus is intended to prove consumer demand to these retailers to facilitate future shelf placement.

This article first appeared on GuruFocus. Release Date: May 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Direct-to-consumer revenue increased by 42% to a record $194,000, indicating strong growth in this channel. Subscription revenue rose by 44% to a new record of $56,000, with subscriber counts increasing by more than 50%. B2B revenue increased by 57% to $298,000, showing significant traction in professional and commercial channels. Gross margin improved to a company record of 68.6%, reflecting better production efficiency and reduced reliance on discounted sales. E-commerce sales in April increased by 163% year-over-year, demonstrating successful transition to direct management of Amazon sales. Revenue for the first quarter only increased by 2% compared to the previous year, indicating slower overall growth. Operating expenses included $443,000 of one-time costs related to severance and legal issues, impacting profitability. The transition to direct management of Amazon sales caused short-term channel disruption. SG&A expenses remain high relative to revenue, highlighting the need for further optimization. International expansion is limited by regulatory requirements, necessitating local partnerships for significant market entry. Warning! GuruFocus has detected 2 Warning Signs with SNES. Is SNES fairly valued? Test your thesis with our free DCF calculator. Q: Given the early results from April, is it fair to expect quarter-over-quarter revenue growth and a reasonable chance at record revenue? A: Michael Edell, President and CEO, stated that based on the results they are seeing and the direct control over their direct-to-consumer efforts, they anticipate reasonable growth quarter over quarter and expect to continue breaking records. Q: Are you seeing any expansion internationally, especially with the hantavirus breakout? A: Michael Edell explained that while the hantavirus highlights the risks of rodent infestations, the company is focusing on international opportunities that can bring in short-term revenues due to the lengthy regulatory processes in some countries. Q: Can you please explain the rationale behind the direct-to-consumer focus? A: Michael Edell noted that historically, the company led with B2B options, but without brand awareness, it was challenging to drive partner business. The direct-to-consumer focus aims to create significant brand awareness, which will support B2B efforts. Q: SG&A remains high for the level of revenue this quarter. Is there a plan to optimize SG&A to better match the levels of the business? A: Tom Chesterman, CFO, mentioned that the high SG&A was part of the investment in strategic transition, including new personnel and resolving legal issues. They plan to streamline SG&A moving forward to support growth initiatives. Q: Has there been an uptick in inquiries regarding the heightened hantavirus awareness? A: Michael Edell confirmed that there has been a significant increase in searches for solutions to rodent and pest-related problems, indicating heightened awareness and interest. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Financial results to be released after market close; Conference call to be conducted at 5:00 p.m. Eastern time PHOENIX, May 7, 2026 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), the leader in fertility control for managing animal pest populations and the only manufacturer of EPA-compliant Rodent Birth Control™ products, will report financial results for its first quarter 2026, ended March 31, 2026, after the market close on Tuesday, May 12, 2026. The Company has scheduled a conference call that same day, Tuesday, May 12, 2026, at 5:00 pm ET, to review the results. First Quarter 2026 Conference Call Details Date and Time: Tuesday, March 12, 2026, at 5:00 p.m. Eastern time Live Webcast Information: Interested parties can access the conference call via a live webcast, which is available in the Investor Relations section of the Company's website at https://app.webinar.net/m976bqQblKE or http://senestech.investorroom.com/. Replay: A webcast replay will be available in the Investor Relations section of the Company's website at http://senestech.investorroom.com/ for at least 90 days. About SenesTech SenesTech is committed to creating healthier environments by managing animal pest populations through birth control. The Company's groundbreaking products, including Evolve rodent birth control, integrate seamlessly into pest management programs, significantly enhancing their effectiveness while reducing reliance on traditional poisons. SenesTech's mission is to create cleaner cities, more efficient businesses, and healthier communities with products that are humane, effective and sustainable. For more information, visit https://senestech.com. Safe Harbor Statement This press release contains "forward-looking statements" within the meaning of federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Forward-looking statements may describe future expectations, plans, results or strategies and are often, but not always, made through the use of words such as "believe," "may," "future," "plan," "will," "should," "expect," "anticipate," "eventually," "project," "estimate," "continuing," "intend" and similar words or phrases. You are cautioned that such statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include, among others, the successful commercialization of our products; market acceptance of our products; our financial performance, including our ability to fund operations; and regulatory approval and regulation of our products and other factors and risks identified from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise. CONTACT: Investor: Robert Blum, Lytham Partners, LLC, 602-889-9700, [email protected] Company: Tom Chesterman, Chief Financial Officer, SenesTech, Inc., 928-779-4143 View original content to download multimedia:https://www.prnewswire.com/news-releases/senestech-to-report-first-quarter-2026-financial-results-on-tuesday-may-12-2026-302766056.html

SURPRISE, Ariz., March 12, 2026 /PRNewswire/ -- SenesTech, Inc. (NASDAQ: SNES), a leader in birth control solutions for managing rodent populations, today announced financial results for the fourth quarter and the full year ended December 31, 2025. 2025 Highlights Revenue increased by 20% to $2.2 million in 2025 as compared to 2024, driven by strong growth in the Company's overall e-commerce channels despite the impact associated with the Company's transition to directly managing Amazon sales of Evolveﾮ Rat and Evolve Mouse. Excluding this transition-related impact, we estimate revenue would have increased by approximately 30%. As the transition becomes fully integrated, direct Amazon management is expected to meaningfully enhance both revenue and operating margins in the future. Gross profit margin was 62.5% in 2025, compared to 54.1% in 2024, driven by the higher margin profile of the Evolve product line and manufacturing improvements. Net loss for 2025 was $6.4 million compared to $6.2 million in 2024. 2025 included $631,000 in one-time legal expenses and $135,000 in non-cash operating lease expense. Excluding these items, Adjusted Net Loss would have been $5.6 million. Adjusted EBITDA loss improved to $5.3 million in 2025, compared to $5.8 million in 2024, reflecting continued revenue growth and improved gross margins partially offset by higher operating investments. The balance sheet was strengthened by capital raises completed in 2025, resulting in cash and short-term investments of $8.6 million at the end of 2025. The Company believes this capital will be sufficient to provide operating runway through approximately the second quarter of 2027. Operational and Strategic Highlights E-commerce Growth: E-commerce revenue increased 88% year-over-year from 2024 to 2025, driven by strong growth on Amazon and the Company's direct-to-consumer website, notwithstanding the loss of an estimated $200,000 in 2025 revenue as a result of the Company's transition to directly managing Amazon sales. If the Company had recognized an additional $200,000 in E-Commerce revenue for this transition, E-Commerce revenue growth would have been 130%. Amazon Direct Management: SenesTech has begun directly managing Amazon sales of Evolve Rat and Evolve Mouse, transitioning from third-party management to strengthen product presentation and customer communications, leverage performance data to optimize marketing, and retain a greater portion of e-commerce economics. While the transition created an approximately $200,000 fourth quarter revenue impact, management expects direct control to drive higher revenue and stronger margins once fully integrated. Field Validation: Multi-month Evolve deployments in two urban study areas delivered measurable reductions in rodent activity within five months, including a 79% decline in rat activity at one site and more than a 50% decline at a second site. International Expansion: Evolve secured regulatory approval in New Zealand (with the initial stocking order shipped to exclusive partner Evicom) and expanded international footprint in Belize by adding the Belize Raptor Center as an official distributor. CEO Transition: SenesTech's Board has initiated a formal search for a new CEO following Joel Fruendt's retirement, and appointed Dr. Jamie Bechtel to the newly created role of Interim Executive Chair to support leadership continuity and strategic execution during the transition period. Commentary "2025 marked meaningful progress, with continued field validation, revenue growth, improved margins, and a stronger balance sheet," said Joel Fruendt, President and CEO of SenesTech. "We believe field validation of efficacy becomes a powerful catalyst for expanded acceptance in the market, as reflected in the strong growth of our e-commerce channel, which is now more than 50% of our annual revenue. We are leaning further into the direct-to-consumer and e-commerce opportunities, strengthening our control of the customer experience, improving performance management, and enhancing our ability to capture more value as adoption expands." "With a CEO transition plan underway, the Board remains focused on continuity, alignment, and disciplined execution as we support management in scaling the business," said Dr. Jamie Bechtel, Interim Executive Chair of SenesTech. "With a growing body of validation and a sharpened go-to-market approach, we are focused on executing with discipline, expanding adoption, and building long-term stockholder value." Use of Non-GAAP Financial Measure Adjusted EBITDA and Adjusted Net Loss are non-GAAP measures. However, these measures are not intended to be a substitute for those financial measures reported in accordance with GAAP. These have been included because management believes that, when considered together with the GAAP figures, they provide meaningful information related to our operating performance and liquidity and can enhance an overall understanding of financial results and trends. We use these non-GAAP financial measures as part of our overall assessment of our performance, including the preparation of our annual operating budget and quarterly forecasts, to evaluate the effectiveness of our business strategies, and to communicate with our board of directors concerning our financial performance. These adjustments may be calculated by us differently than other companies that disclose measures with the same or similar term. See our attached financials for a reconciliation of the non-GAAP measures to the nearest GAAP measure. Conference Call Details Date and Time: Thursday, March 12, 2026, at 5:00 pm ET Live Webcast Information: Interested parties can access the conference call via a live Internet webcast, which is available in the Investor Relations section of the Company's website at https://app.webinar.net/g3BpDpdDZ14 or https://senestech.investorroom.com/. Replay: A webcast replay will be available in the Investor Relations section of the Company's website at https://senestech.investorroom.com/ for 90 days. About SenesTech SenesTech is committed to creating healthier environments by managing animal pest populations through birth control. The company's groundbreaking products, including Evolve rodent birth control, integrate seamlessly into pest management programs, significantly enhancing their effectiveness while reducing reliance on traditional poisons. SenesTech's mission is to create cleaner cities, more efficient businesses, and healthier communities with products that are effective and sustainable. For more information visit https://senestech.com/. Safe Harbor Statement This press release contains "forward-looking statements" within the meaning of federal securities laws, and we intend that such forward-looking statements be subject to the safe harbor created thereby. Such forward-looking statements include, among others, statements regarding the effectiveness and benefits of our products; the potential of direct management of Amazon sales of Evolve products to meaningfully enhance both revenue and operating margins; the Company's expected operating runway; the potential of field validation of efficacy to expand acceptance in the market; the Company's plans to lean further into direct-to-consumer and e-commerce opportunities and potential benefits thereof; CEO transition matters; and the impact of Adjusted EBITDA and Adjusted Net Loss metrics. Forward-looking statements may describe future expectations, plans, results, or strategies and are often, but not always, made through the use of words such as "believe," "may," "future," "plan," "will," "should," "expect," "anticipate," "eventually," "project," "estimate," "continuing," "intend" and similar words or phrases. You are cautioned that such statements are subject to risks, uncertainties and other factors that could cause actual results to differ materially from those reflected by such forward-looking statements. Such factors include, among others, the successful commercialization of our products; market acceptance of our products; our financial performance, including our ability to fund operations; regulatory approval and regulation of our products; challenges transitioning to direct management of Amazon sales of Evolve products or the results of such direct management not being as expected; having to use cash at times and in ways other than as planned; and other factors and risks identified from time to time in our filings with the Securities and Exchange Commission, including our Annual Report on Form 10-K for the fiscal year ended December 31, 2025. All forward-looking statements contained in this press release speak only as of the date on which they were made and are based on management's assumptions and estimates as of such date. Except as required by law, we do not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise. CONTACT: Investor Relations: Robert Blum, Lytham Partners, LLC, 602-889-9700, [email protected] Company: Tom Chesterman, Chief Financial Officer, SenesTech, Inc., 928-779-4143 View original content to download multimedia:https://www.prnewswire.com/news-releases/senestech-announces-2025-financial-results-driven-by-strong-growth-in-e-commerce-302712612.html

This article first appeared on GuruFocus. Revenue: Increased 20% to approximately $2.2 million in 2025, compared with $1.86 million in 2024. E-commerce Revenue: Increased 88%, now representing more than half of total revenue. Gross Margin: Improved to 62.5% from 54.1% in 2024. Net Loss: Reported net loss of $6.4 million, compared with $6.2 million in 2024. Adjusted Net Loss: Approximately $5.6 million, excluding one-time legal expenses and non-cash operating lease expense. Adjusted EBITDA Loss: Improved to $5.3 million from $5.8 million in 2024. Cash and Short-term Investments: Ended the year with $8.6 million. Warning! GuruFocus has detected 2 Warning Signs with SNES. Is SNES fairly valued? Test your thesis with our free DCF calculator. Release Date: March 12, 2026 For the complete transcript of the earnings call, please refer to the full earnings call transcript. Revenue increased by 20% in 2025, reaching approximately $2.2 million, with potential growth of 30% excluding the Amazon transition impact. E-commerce revenue grew by 88%, now representing more than half of the total revenue, driven by strong performance on Amazon and direct-to-consumer websites. Gross margin improved to 62.5% from 54.1% in 2024, reflecting a better product mix and increased e-commerce contributions. International expansion included regulatory approval in New Zealand and new distribution relationships in Belize. The legal dispute with Leafitech was resolved satisfactorily, eliminating future litigation costs related to this issue. The company reported a net loss of $6.4 million in 2025, slightly higher than the $6.2 million loss in 2024. One-time legal expenses amounted to $631,000, impacting the financial results. The transition to directly managing Amazon sales temporarily impacted revenue by approximately $200,000. Social media presence has been quiet since December 2025, indicating a potential gap in marketing communication. Inventory grew by 25% year-over-year, which is high relative to quarterly revenue, reflecting anticipated demand rather than current sales. Q: Given that 2025 revenue growth would have been 30% excluding the impact of transition to directly managing Amazon sales, should we expect a similar growth rate in 2026? Or could this be higher? A: Thomas Chesterman, CFO, stated that the growth rate could indeed be higher in 2026 as the company aims to accelerate growth in profitable areas. Q: What are likely to be the contributors to 2026 revenues? Amazon and D2C, pest management professionals networks, municipal orders, or international expansion in New Zealand, Belize, and beyond? A: Thomas Chesterman, CFO, explained that revenue growth will be driven by a combination of e-commerce, municipal markets, retail, and international expansion. Each segment is expected to contribute significantly, with e-commerce and municipal markets showing strong potential. Q: What kind of follow-up should we expect from the two field validations in urban areas? What level of revenue should we expect from these two areas? A: Thomas Chesterman, CFO, mentioned that the New York trial is the primary focus, with results expected in the spring. Revenue potential will depend on deployment plans post-trial, while Chicago has already begun deployment in several neighborhoods. Q: Why have all the social media accounts, like Facebook, been quiet since December 2025? A: Jamie Bechtel, Chairman of the Board, clarified that the marketing team has been focusing on strengthening core commercial efforts rather than social media. Social media activity will resume as new initiatives are rolled out. Q: What is the status of product registration in Australia? A: Thomas Chesterman, CFO, stated that the regulatory authorities in Australia are expected to provide an answer in the spring, and the company anticipates a positive response. For the complete transcript of the earnings call, please refer to the full earnings call transcript.

Revenue grew 20% to $2.2 million in 2025, though management noted growth would have reached 30% if not for a $200,000 temporary impact from transitioning Amazon operations to direct management. The shift to direct Amazon management is a strategic move to improve product presentation, leverage platform data for marketing optimization, and capture higher margins by removing third-party intermediaries. E-commerce has become the company's primary growth engine, now representing more than one-half of total revenue following an 88% year-over-year increase in the segment. Gross margin improved significantly to 62.5% from 54.1%, driven by a more favorable product mix and the increasing contribution of high-margin e-commerce channels. Municipal adoption is accelerating as cities shift toward integrated pest management; Chicago neighborhoods are actively reordering EVOLVE, and a high-profile trial in New York City is nearing completion. International expansion is being executed through exclusive partnerships, evidenced by the first stocking order to New Zealand following regulatory approval and expanded distribution in Belize. Management aims to accelerate revenue growth beyond the 30% adjusted 2025 rate by scaling profitable e-commerce messaging and increasing ad campaign investments. Retail growth is characterized as a high-potential 'explosive' vertical, with management anticipating significant 'pallet-sized' orders from brick-and-mortar retailers potentially by the second half of 2026. The company expects a regulatory decision from Australian authorities in the spring of 2026, which would open a major new international market for the EVOLVE product line. Financial strategy for 2026 focuses on maintaining a solid operating runway with $8.6 million in liquidity while prioritizing investments in high-ROI areas like municipal deployments and B2B sales expansion. The ongoing CEO search seeks a leader with 'commercial instinct' to scale the business while maintaining the operational discipline established during the current transition period. The company resolved its legal dispute with Leafotech, resulting in the dismissal of all litigation with no further financial or operational impact expected. One-time legal expenses of $131,000 and non-cash operating lease expenses of $135,000 impacted the 2025 net loss but are not expected to recur at these levels. Inventory levels increased 25% year-over-year, a deliberate strategic decision to ensure the company can fulfill sudden 'surge demand' from large retail partners. A leadership transition is underway following the retirement of CEO Joel Fruendt, with Dr. Jamie Bechtel serving as Interim Executive Chair to ensure continuity. Our analysts just identified a stock with the potential to be the next Nvidia. Tell us how you invest and we'll show you why it's our #1 pick. Tap here. Growth will be a mixture of e-commerce, municipal, and international, with Amazon expected to show strong sustainable growth under direct management. Retail is described as having 'explosive' potential, where a single order for 200 stores could equate to $2 million in revenue. The trial is expected to conclude in the spring (middle of Q2), and management is already in discussions with large pest management organizations likely to bid on the subsequent RFP. While specific revenue cannot be forecasted until the city issues a formal deployment plan, it remains a primary focus for municipal growth. While the technology is broadly applicable to other mammals like ground squirrels, management will remain focused on the rat and mouse markets to ensure 'extraordinary discipline.' Regulatory complexities for species like ground squirrels differ from rodents, requiring additional work before expansion is considered. The marketing team has pivoted focus toward core commercial efforts, sales enablement, and partnership development rather than social media presence. A more structured communication cadence is expected to return as new milestones are launched later in the year. One stock. Nvidia-level potential. 30M+ investors trust Moby to find it first. Get the pick. Tap here.

Image source: The Motley Fool. March 12, 2026 at 5 p.m. ET Interim Executive Chair — Dr. Jamie Bechtel Chief Financial Officer — Thomas C. Chesterman Need a quote from a Motley Fool analyst? Email [email protected] Dr. Jamie Bechtel: Thanks, Robert. Thank you, operator. Thank you to everyone who is joining us today. I am Dr. Jamie Bechtel, and I am the Chair of SenesTech, Inc.'s board. As we recently announced, Joel L. Fruendt is retiring following several years of leadership at SenesTech, Inc. On behalf of the board, I want to thank Joel for his and for helping position the company for the next phase of growth. To support continuity during this transition, the board created the role of Interim Executive Chair, and I was asked to step into that position. To help ensure alignment between the board and management the CEO search is underway. The transition is planned and orderly, and the business continues to move forward without interruption. The Board has initiated a formal search process to identify the company's next CEO. Our focus is on finding the right leader help scale the business and build on the progress that has been made. In the meantime, the board remains closely engaged in man with management and focused on execution. Our directors bring experience across areas such as e-commerce, international markets, finance, strategic growth, which we believe will be valuable if the company continues to expand. Importantly, the company's core strategy remains consistent. We are focused on delivering our current initiatives, scaling the areas where we are seeing traction, and maintaining discipline in how we allocate resources. We will continue to keep shareholders informed as the leadership transition progresses. With that, I will turn the call over to our CFO, Thomas C. Chesterman. Thomas C. Chesterman: Thank you, Jamie. I will begin with a summary of the year's performance and key developments before reviewing the financial results in more detail. Overall, 2025 reflected continued progress in expanding our commercial reach and strengthening our business model. For the year, revenue increased 20% to approximately $2.2 million compared with $1.86 million in 2024. It is important to note that the fourth quarter included an approximately $200,000 revenue impact associated with the company's transition to directly managing the EVOLVE Rat and EVOLVE Mouse on Amazon. Excluding that transition effect, full-year revenue growth would have been closer to 30%. That transition represents an important step in our e-commerce strategy. Directly managing Amazon allows us to improve product presentation, optimize marketing performance using platform data, and retain a greater portion of the revenue generated through that channel. E-commerce continued to be our fastest growing segment. For the year, e-commerce revenue increased 88%, driven by strong growth on Amazon and our direct-to-consumer website. Even with that temporary transition impact, e-commerce now represents more than one-half of our total revenue. And now that we have direct control of Amazon selling activity, we can better tailor the message and accelerate growth much, much further. Beyond e-commerce, we continue to expand activity across several additional verticals. In municipal markets, interest in fertility control approaches continues to grow as cities evaluate alternatives to traditional rodent control methods. Programs such as the rat contraception initiatives in New York City, Chicago, and elsewhere reflect this broader shift towards integrated pest management strategies. The Chicago neighborhoods deploying EVOLVE continue to reorder and expand deployment. New York City will soon conclude their trial of EVOLVE, and we are already in discussions with potential deployment partners so as to be able to move quickly. Internationally, we expanded our footprint during the year with regulatory approvals and new distribution relationships. EVOLVE received regulatory approval in New Zealand, and we shipped the initial stocking order to our exclusive partner, Evicom. We have expanded distribution activity in Belize, through the Belize Raptor Center, and we have other areas with potential regulatory approval pending as well. On the retail side, where decision making is a longer process, we have made multiple presentations to some of the largest brick-and-mortar retailers about stocking EVOLVE on their shelves. I should point out that success on Amazon and the press around deployment feeds well into the retail decision making. We laid the groundwork last year, this is the year we will see the benefit of that work on the top line and the bottom line. Finally, should mention, some of you have been about our legal dispute with Leafotech. I am pleased to say that this dispute has been resolved in a manner satisfactory to all involved. All litigation has been dismissed and cannot be reinstated. Turning to the financial results in more detail. For 2025, gross margin improved to 62.5% compared with 54.1% in 2024. This reflects improved product mix and a growing contribution from e-commerce channels. The company reported a net loss of $6.4 million compared with $6.2 million in 2024. The 2025 results include approximately $131,000 in one-time legal expenses, some of which associated with Leafotech, and $135,000 in non-cash operating lease expense. Excluding these items, the adjusted net loss for the year would have been approximately $5.6 million. Adjusted EBITDA loss for the year improved to $5.3 million compared to $5.8 million in 2024. From a liquidity standpoint, the company ended the year with $8.6 million in cash and short-term investments, which we believe provides a solid operating runway as we continue executing our strategy. As we look towards 2026, our focus remains on maintaining financial discipline while investing in areas where we are seeing traction, including e-commerce expansion, municipal adoption, and continued validation of our technology. At the same time, we are managing operating expenses carefully and prioritizing investments that support measurable commercial progress. And, importantly, we are also maintaining flexibility for the company's next CEO to help shape that longer-term strategy. With that, operator, we are ready to open the call for questions. Robert Blum: All right. Thank you very much, Jamie, and Tom. We will now open for questions. Once again, if you have a question, you can type it into the Ask a Question queue there on your webcast player. First question here, given that 2025 revenue growth would have been 30%, excluding the impact of transition to directly managing Amazon sales, should we expect a similar growth rate in 2026 or could this be higher? Thomas C. Chesterman: That is a great question. Yes, absolutely, it can be higher, and that is in fact what we are aiming for. We want to accelerate growth in the areas where we can and make sure that we maximize that growth as long as it remains profitable. Robert Blum: Alright. Our next question here. What are likely to be the contributors to 2026 revenues? Amazon and D2C, pest management professionals networks, municipal orders, or international expansion in New Zealand, Belize, and beyond. Thomas C. Chesterman: So it will definitely be a mixture of all of those. But let me walk through kind of how each of them looks as we are moving forward. I mentioned the e-commerce and Amazon particularly. This is an area where with Amazon, we were not managing it directly. We were using a third party. And so we were not really in full control of the message and the rate of spend. As we begin taking over Amazon and also working on improving our own website, we know that further investments in the messaging, and in the ad campaign will drive sustainable and increasing growth. So, definitely, we expect to see strong growth in that area. Municipal certainly is an area of growth. There have been a number of successes in that area. All eyes are on New York right now where we have a trial underway. We do not know exactly what their deployment plans will be. We will see that when the request for proposals come out. But we do see that as a growth area. Retail is an area where we have not yet seen the growth that we would hope, but when you see growth in that area, you see it is a very explosive area. And to give you an example, we have made multiple pitches to brick-and-mortar retailers. We have worked with them on their website. We have worked on trials. At some point, one of them is going to say, alright. Let us go ahead and send one pallet to 200 stores. One pallet each. That is a $2 million order. So the growth there can be very, very explosive in that segment. International continues to look very good. There are a number of areas internationally where they have a similar need to improve their rodent management techniques, and they seek alternatives to traditional methods like EVOLVE, like ContraPest, etcetera. We do definitely see some improvement there. We have mentioned before, Australia is nearing the conclusion of the regulatory review. We are expecting an answer from them shortly. There are other jurisdictions as well. So in closing, it really is a combination of a variety of shots on goal as Joel used to put it. Robert Blum: Alright. Very good. Our next question here is what kind of follow-up should we expect from the two field validations in urban areas? What level of revenue should we expect from these two areas? Thomas C. Chesterman: Well, I am not quite sure what the second one is that they are talking about. The one right now, the trial that has all eyes on it is in New York. And as I mentioned, that trial will be concluded sometime in the spring. We do not know what their deployment will be, so we cannot give you a good sense of how much revenue or how quickly. In the other areas, such as Chicago, they have already begun the deployment in Chicago in a number of neighborhoods and areas. So that will expand as additional neighborhoods come on into the program. Robert Blum: Alright. The next question here is why have all the social media accounts, Facebook, for example, been quiet since December 2025. Talk about the marketing department employment there. Thomas C. Chesterman: Yeah. Jamie, actually, why do you not take this one? Dr. Jamie Bechtel: Thanks, Tom. Robert, that is a great question. The marketing team is absolutely still in place. Over the past few months, we have been focused on strengthening our core commercial efforts, customer outreach, sales enablement, channel and partnership development rather than prioritizing social media. Social media will definitely pick back up as we roll out a couple of initiatives this year, but the team has actively been working on growth and brand positioning. So you will see a more structured communication cadence as we launch our new milestones this year. Robert Blum: Next question here, and I think Tom, you have addressed this in your prepared remarks, but if there is anything to add on to it. What is the status of the court case of Leafotech versus SenesTech, Inc.? Thomas C. Chesterman: So that case has been settled. It has been settled, as the lawyers put it, to the satisfaction of all parties. The results were immaterial to us both financially and operationally. So at this point, we consider it a past issue. Robert Blum: Okay. And a bit of a follow-up on that. You guys mentioned in the prior quarter that you had incurred $100,000 of one-time legal costs due to the Leafotech IP infringement and NDA violations. It says here, I noticed that the one-time legal fees in this quarter came to $275,000. Let us see here. Can you, I guess, expand upon and clarify this cost and whether it is expected to recur going forward. Thomas C. Chesterman: So let me take the last part first. No. It should not recur now that we have successfully concluded that litigation issue. It is, you know, litigation is very expensive these days. And so it takes quite a bit to defend oneself from charges or allegations. So, unfortunately, it did end up costing us quite a bit in terms of legal expense. But it was an investment well worth it given the positive outcome. Robert Blum: Okay. Following up on a question on legal fees, could you provide more granularity in how much of those fees during this last year related to financing? Thomas C. Chesterman: The legal fees which were expensed do not have anything to do, are not classified as operating expense. Those would be part of the cost of the financing. So you would not see any of legal cost of financing in the income statement. Robert Blum: Next question here is what is the status of product registration in Australia? Thomas C. Chesterman: Yeah. As I mentioned, we, with our partner, have submitted all the necessary information. The regulatory authorities have gone through it. They expect to be able to produce an answer to us, as our partner says, quote, in the spring. I do not have any more precise dates than that, but we are expecting a response from them. We are not expecting a positive response. Robert Blum: Okay. Our next question here is how much revenue do you expect from Belgium during the coming two years? Thomas C. Chesterman: We actually do not have any direct input or insight into Belgium. We have no partner that is in Belgium. So, it really is more a matter of as we look at the European market and our distributors there, what are we selling to them? And, you know, whether it is in Belgium or somewhere else, really do not have a whole lot of insight into that. Robert Blum: K. Next question. Can you break out the SG&A, which is up? How much is sales and how much of the G&A and, well, there will be a follow-up to that. Thomas C. Chesterman: So we are, at conclusion of this call, scheduled to file our 10-K. So all of the detail of the SG&A and R&D expenses will be in the 10-K. So I would encourage you to, our investors, to look at that, read that. If you have any questions on that, follow up with us. We would be glad to go into as much as we need. Yeah. Robert Blum: Next question here is, what are the new international opportunities? Thomas C. Chesterman: Well, unfortunately, I cannot really comment on them until we have signed agreements in place. So I am going to have to let you wait for our press releases as we sign them. We will let our investors know. Robert Blum: Okay, very good. Next question here is how likely is it that EVOLVE bait gets to brick and mortar during 2026? Thomas C. Chesterman: So we are already in some of brick and mortar, but not much. I think that given the time frame in which they make their decisions, that it may not be likely until at least the end of the second quarter, but it is more likely in the second half of the year for retail in a big way. Robert Blum: Okay. Our next question here is what municipalities besides New York City are evaluating EVOLVE? Thomas C. Chesterman: Well, that is the biggest trial that has been out there. Baltimore concluded their study and has been deploying EVOLVE there. Chicago did not, they went right past a study, at least in the neighborhoods, but the city of Chicago continues to be assessing fertility control. I do not know if there are, I am sure, others that are doing trials that are not necessarily formal trials. But that would be a level of detail that I would not have readily available right now. Robert Blum: Alright. The next question here is on how is the agricultural sector working out? Thomas C. Chesterman: It is working out quite well. There are, you know, we have talked about some of the successes in the past and the almond groves in the West. Those go well. They are expanding those as well. We continue to work on some of the crop issues like sugarcane. We continue to see actually some expansion as well into poultry. That is another area of growth. And we are beginning to see actually some of that in an interesting area, irrigation. Turns out that rats are very destructive to irrigation, so we are seeing some progress in that area as well. So it is going well. Very well. Robert Blum: Alright. Here, another follow-up here, and I am not sure if there is anything that could be added here. But how soon will you know about the trials in the New York City program, and what is the potential market for that? Thomas C. Chesterman: Yeah. Unfortunately, as I have mentioned, the trial will be ending this spring. I believe it is the middle of the second quarter. We do not know what they are going to be doing immediately after that, but we have begun discussion with some people that are expecting to bid on whatever comes out. These are large pest management organizations that would like to be able to respond to New York's requirements. So we have already begun those discussions as to how to best be flexible and nimble when the information does come out. Robert Blum: Our next question here. How has the e-commerce business been when it comes to Home Depot and Lowe's? Thomas C. Chesterman: So these are areas where they are really almost trials before they make their decisions about their shelf placement. We are focusing, as has been mentioned before, our own e-commerce program on Amazon now and on our website. So these programs have not been a huge e-commerce per se push. But rather are ways of continuing the discussions with them. So that at this point, they are nowhere near the size of what we are seeing in Amazon or on our own website. Robert Blum: Okay. Our next question here, are there any new species you anticipate in 2026 or 2027, such as ground squirrels, gophers, etcetera. Thomas C. Chesterman: Well, I will let Jamie comment on this, but I will also kind of mention that, from my perspective, I think the rodent market is the rat and mouse market. It has enough potential that we could be quite successful maximizing those opportunities, but Jamie, you are one of our lead scientific types. Any comment there? Dr. Jamie Bechtel: I will just add that the technology is really exciting because it is broadly applicable, especially to mammalian species. And while there is a lot of opportunity there, I second Tom with the idea that we are going to remain very focused and deliver what is in front of us with extraordinary discipline. Thomas C. Chesterman: Alright. Thank you for that both. Robert Blum: Our next question here is, will evolverodentbirthcontrol.com be available in the future? Someone noticed that the site was down. Thomas C. Chesterman: I will have to look into that to understand why it is down. I was not aware of that, but I will look into that immediately. We own it. Very good. So it should be up. Robert Blum: Alright. Very good. Our next question here, what qualities is the board looking for in the next CEO to improve profitability, or the, I am sorry, the probability of successful commercialization? Jamie, that sounds like a question for you. Dr. Jamie Bechtel: It does, does it not, Tom? Robert, thanks for that. That is a great question. We are looking for a leader who can take the company through its next phase of growth. That means someone who has a strong commercial instinct, experience scaling a business, the ability to build and lead high-performance teams. Just as important is operational discipline. Someone who can translate strategy into consistent execution. The opportunity in front of us is significant, exciting and significant. So we want a CEO who can bring both that strategic vision and the day-to-day rigor necessary to capture that vision. Robert Blum: Alright. Thank you for that. Question here, discussing cash runway implies, obviously, losses at its current revenue levels. Is there any reason why improvement should not be expected? Thomas C. Chesterman: There is no reason why improvement should not be expected and sought after. But the attorneys tell us to be very conservative in how we disclose things in the 10-K and on the press releases about such matters. So we take the most conservative approach in terms of that disclosure. But yes, improvement should be expected. Robert Blum: Okay. Next question here is on inventory. Inventory grew 25% year over year, which is relatively high compared with the quarterly revenue. Is the current inventory reflecting anticipated demand from newly expanded locations or slower-than-expected turnover. Thomas C. Chesterman: It is the former. It is trying to make sure that we are ready for that surge demand I mentioned. If we do get a call from a retailer saying we want the pallets in every store, we want to make sure that we have that inventory available to fulfill. Robert Blum: Alright. Next question here is why was Joel not able to be on the call today? Thomas C. Chesterman: I was going to say, Jamie, you probably should take this one. Dr. Jamie Bechtel: Robert, thanks—oops. Sorry. Go ahead, Tom. That is exactly how aligned we are, Tom, and that is the answer to the Right? We have a really strong leadership team in place. As I mentioned earlier, there is continuity in this transition. And we are all fully engaged in communicating progress and executing on the strategy. While Joel was not on today's call, the team is completely aligned, we are moving forward. Robert Blum: The next question here is what other target markets will SenesTech, Inc. focus on this year? Will there be increased focus on the agricultural sector, for instance? Thomas C. Chesterman: Yeah. To some extent, I have already answered that. It is going to be all of the markets that we have talked about before. We are going to be going after all of them. They each have a different strategic approach identified as to how we will address them, what the pacing will be. But these are the markets that we are focused on now. The specific verticals that we have talked about in past calls. Until we have sufficiently hit and hit our targets, our own internal targets and external targets, in these markets, we do not think that there is a need to expand to other verticals. These are the ones that look like they have the highest potential in the shortest amount of time. And so that is why we have chosen them to focus on. Robert Blum: Alright. Thank you for that. Our next question here, I think you have addressed some of this, but have there been any new trials or deployments in major cities, specifically on the West Coast? San Francisco, Los Angeles, for instance. Thomas C. Chesterman: Well, San Francisco has a trial ongoing. We have talked about it before. It is being done with a local pest management company there, using some state funding. I am not aware of any other West Coast formal trials, although there certainly are a number of the smaller municipalities that tend to look at it first before they make their decisions, but those are more informal. We did have an interesting trial that we did produce some data on at the UC Irvine housing project, where they have quite a bit of interest in looking at innovative ways of controlling pests. And so that trial did conclude quite successfully. We put out a press release on it earlier, but they were very pleased with the approach and have continued to deploy and expand in that. I am not aware of any others that are as formal as that. Robert Blum: Next question here is does management attend any, I guess this would reflect to industry conferences, to showcase EVOLVE? Thomas C. Chesterman: Management does not necessarily, but the sales department certainly does. Sales is responsible for identifying those conferences and those meetings that have the highest potential for a return. They tend to be very, very focused on that return. Is it really going to be something where we get a lot of orders? And these can be both professional organizations, but we also attend some of the, I will call them, retail or other shows. For example, we were very recently at the Bradley Caldwell show, where they bring in all of their potential customers into one place and present different companies like ourselves. We have also been to the ACE show. So we are at both kinds of shows. We are also at the PestWorld. We have had a booth there for a couple years now. So, yes, answer is yes. We do. Robert Blum: Okay. Next question here. Will the new CEO have incentives built around the price of the company's stock? I am sure that Jamie is ready to answer this one. Dr. Jamie Bechtel: Robert, the short answer is yes. As with most public companies, the CEO's compensation structure, we expect a meaningful portion of that to be equity based and aligned with long-term shareholder value. The board's compensation committee will finalize the specific structure, of course, but alignment with stock performance will absolutely be a key component. Robert Blum: Okay. The next one, I am not sure if there is a question in here, but maybe more of a comment at top. Agricultural production state California would greatly benefit from expansion of the label for use in ground squirrels. With ever-increasing regulations on pesticides, 25(b) products have incredible potential. So maybe this circles back to expansion into adjacent species. Thomas C. Chesterman: Yeah. I would agree. It is very definitely, California is not the only area that would benefit from an expansion. There are lots of different pest species that need some work, need better solutions. When we have, again, when we have managed to demonstrate success in rat and mouse, we certainly would look at that. I will tell you there is an issue around ground squirrels. They are not considered the same kind of pest as rodents are. So they have a different regulatory approach that is required there. So there are a few complexities that would need to be worked out before we could really consider that kind of an expansion. Robert Blum: Okay. The next question here is, will you be expanding your sales team? Thomas C. Chesterman: The short answer is yes. We will. We actually had the sales team in for a kind of a beginning-of-the-year conference not that long ago. We are going to have another one coming up shortly where we are really focused on exactly what resources do we need to maximize the B2B sales effort, and whether it be more people, and if so, where, or how are they focused, what materials are needed, what, again, all the resources that are necessary to really expand and drive the B2B growth to its maximum potential. Dr. Jamie Bechtel: And, Robert, before we move on, I just want to add to Tom's answer there that because we have brought e-commerce in-house, not only are we going to see a bigger sales force, both in the D2C and the B2B profile, but we are going to see a higher ROI on that because we are going to be able to collaborate across those two verticals. Robert Blum: Alright. Fantastic. Our next question here, can you clarify when the New Zealand order was shipped and if it was in Q1, how much of the did that eat up, and has it been replaced? Thomas C. Chesterman: And, yes, it has been replaced. Yes. That shipment was in Q1. Robert Blum: Alright. I think that was all the questions. I think you hit it there. Next question here. Is sales working with UC Davis regarding Kern County and other California counties being overrun by rats. Thomas C. Chesterman: The short answer is yes. We are focused on that, in general. But that is also one of the areas where we think some additional resources might very well be useful. And so as they have been, one of the things that came out of that sales meeting was looking specifically at different opportunities in California being not only a large market, but also a market which has taken the step to ban or limit the use of certain rodenticides. So, there are definitely the problem now is fewer solutions, and so even more opportunity for rat birth control. Robert Blum: Alright. Tom, quick asking of clarification on the New Zealand order. Was that revenue recognized in Q1? Or was that revenue recognized in Q4 for the New Zealand order? Thomas C. Chesterman: Q1. Q1. Robert Blum: All right. And as a follow-up to that, how frequently do you expect follow-up orders from New Zealand and for how long? Thomas C. Chesterman: Well, New Zealand has an initiative, which we have talked about before, to rid itself of predators and other pests, invasive pests. And their target is, I think, 2050 to complete that. That is a massive, massive, multibillion-dollar undertaking. How exactly they are going to be going through that may change now with fertility control being added. I think, I know Evicom is working with the authorities in New Zealand to really focus on how to best now incorporate rat birth control with the other methods that have been used. So I do not have a forecast for you yet. But the opportunity there, the need there, is tremendous. Robert Blum: Alright. Coming back to California here with a question is, do you have any other distributors in California outside of Ace Hardware? Thomas C. Chesterman: Well, Ace Hardware, we do not consider a distributor. We consider that a retail. But in terms of other distributors, yes, we do. As a matter of fact, with AgriCom, AgriTurf, a couple of the ones that have come across my desk recently. They are focused more on the agricultural side, particularly poultry. So, yes, we do have other distributors there. And, of course, our top distributors, two top distributors in the pest management industry, Veseris and Target Specialty, both of them have a solid presence in California. Robert Blum: Alright. Very good. I am showing no further questions. So with that, I will turn it back over to you both for any closing remarks. Thomas C. Chesterman: Great. Well, thank you all for joining us. And we certainly look forward to being able to update you as frequently as we can on our progress. This is, as I said in my prepared remarks, last year was a year of preparation, of setting the groundwork, setting the foundations. This year is undoubtedly going to be the most exciting year that we have. And you do not usually hear CFOs saying things like that, but I am truly excited for the potential in the coming year. So thank you very much. Dr. Jamie Bechtel: Thanks, everybody. Operator: Thank you. That concludes today's conference call. We thank you all for attending today's presentation. You may now disconnect. Before you buy stock in SenesTech, consider this: The Motley Fool Stock Advisor analyst team just identified what they believe are the 10 best stocks for investors to buy now… and SenesTech wasn’t one of them. The 10 stocks that made the cut could produce monster returns in the coming years. 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