Micro Cap Ideas

[gfp927z]

>>> SenesTech Announces Fiscal 2018 Financial and Operational Results


PR Newswire

March 28, 2019


https://finance.yahoo.com/news/senestech-announces-fiscal-2018-financial-200500734.html


FLAGSTAFF, Ariz., March 28, 2019 /PRNewswire/ -- SenesTech, Inc. (SNES), a developer of proprietary technologies for managing animal pest populations through fertility control, today announced financial and operational results for the fiscal year 2018, which ended on December 31, 2018.

SenesTech, Inc. has developed an innovative technology for managing animal pest populations through fertility control as opposed to a lethal approach. The Company's first fertility control product, ContraPest(R), is marketed for use initially in controlling rat infestations.

SenesTech will hold a conference call today at 5:00 pm ET (2:00 pm PT) to discuss these results and expectations for the coming year. See dial-in information below.

Annual results and recent highlights include:

Fiscal year 2018 revenue totaled $297,000 versus $57,000 in fiscal year 2017.

On a sequential basis, fourth quarter revenue totaled $137,000 compared to $110,000 in the third quarter of 2018.

The Company ended the year with approximately $5 million in cash and minimal long-term liabilities of $0.3 million.

The Company announced its largest ContraPest® order to ship to Washington D.C. with the deployment expected to commence in the spring of 2019.
SenesTech and Pestmaster announced deployment of ContraPest in a major transit agency in Southern California.

The Company confirmed news reports that the St. Louis Gateway Arch Park Foundation expects to continue and expand their use of ContraPest as the city of St. Louis embraces the role fertility control plays in integrated pest management.

The Company announced expanded deployment of ContraPest in a number of animal sanctuaries in the state of New York.

The Company hosted trials of ContraPest in poultry production facilities in Central California.

The Company added highly-regarded leader in the hospitality industry Kenneth Siegel to the Board of Directors.

Removal of the "Restricted Use Only" label from ContraPest was ordered by the U.S. Environmental Protection Agency (EPA) in October 2018, and subsequently, as of March 27th, the Company has received state approval for the new label in 23 states, including Florida and Washington.
The Company launched a new scientific speaker series, showcasing the scientists and researchers who have made substantial contributions in rodent/animal behavior, rodent management, fertility control and other related fields.

Continued improvements in cost of goods sold should improve gross margins in 2019 significantly.

Dr. Loretta P. Mayer, Co-founder and CEO of SenesTech, said, "Our sales data and growth trajectory is now revealing that our successful introduction of ContraPest as an integral part of an Integrated Pest Management (IPM) strategy is captured in 'end-user' demand. We have tested our market entry strategy among pest management professional opportunities and end-user demand. We find that targeting our efforts in marketing directly to the commercial end-user market segments is key to our success. We are confident that this latter marketing focus, which we call 'pull', will drive substantial growth in 2019."

Dr. Mayer continued, "The consumer market segments, or verticals, on which we are focused are municipal and public applications, animal sanctuaries and animal care facilities (zoos), and food production and storage. As other verticals emerge with strong demand we will add them to our commercial roadmap. The 'voice of the customer' is clear and sustainable new strategies are not only welcome but demanded. Our continued successful deployments by our early adopters clear the way for our fertility control technology. The EPA (and participating states) are rapidly replacing 'restricted use' with 'general use' which is a cost-savings benefit to our end-users with in-house staffing that can now deploy our product."

Tom Chesterman, Chief Financial Officer of SenesTech, commented, "Revenues for the fiscal year were $297,000 versus $52,000 in fiscal year 2017. While we are starting from a low base, we are making measurable progress in establishing our business. Customer acquisition is growing as we continue to promote ContraPest for use in various types of applications. We continue to firmly control operating costs, maintain or improve a stable cash burn rate, drive revenue growth and improve gross margins."

Mr. Chesterman continued, "We ended the year with a cash position of approximately $5 million and long-term debt of approximately $261,000, which evidences our commitment to manage operating costs. As we enter the new year, we are in a solid position to continue to execute on our strategic business plan. We look forward to the opportunities ahead in 2019 and beyond."

Year End 2018 Conference Call Details

Date and Time: 5:00 pm ET (2:00 pm PT) on Thursday, March 28, 2019

Call-in Information: Interested parties can access the conference call by dialing [phone] or [phone].

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 http://senestech.investorroom.com/.

To Ask a Question: The conference call will be moderated by Lytham Partners, an investor relations firm. There will be three options to ask a question during the call:

Questions can be asked live during the call-in portion of the conference call.

The live webcast will feature an option to submit questions in writing during the event.

If you are unable to attend the event, you can submit a question in advance to [e-mail].
Replay: A teleconference replay of the call will be available for three days at [phone] or [phone], confirmation #10129362. A webcast replay will be available in the Investor Relations section of the Company's website at http://senestech.investorroom.com/ for 90 days.

Use of Non-GAAP Measure

Adjusted EBITDA is presented herein and is a non-GAAP measure. However, this measure is not intended to be a substitute for those financial measures reported in accordance with GAAP. Adjusted EBITDA has been included because management believes that, when considered together with the GAAP figures, it provides meaningful information related to our operating performance and liquidity and can enhance an overall understanding of financial results and trends. See our attached financials for a reconciliation of this non-GAAP measure to the nearest GAAP measure.

About SenesTech

SenesTech has developed and is in the process of commercializing a proprietary technology for managing animal pest populations, primarily rat populations, through fertility control. For more information visit the SenesTech website at www.senestech.com.

<<<