Record Quarterly Revenue Growth
SenesTech reported a record quarterly revenue, driven by a 43% year-over-year increase, largely attributed to the rapid adoption of their Evolve product line.
Strong E-commerce Performance
E-commerce remains the largest revenue channel, representing over 50% of revenue and growing by 55% year-over-year. The products are now available on major platforms like lowes.com.
Improved Financial Metrics
Gross margins remained strong at 63%, and operating expenses decreased by 4% compared to last year and 12% sequentially. Adjusted EBITDA loss was the best in the company's history at $1.2 million, compared to $1.4 million last year.
Municipal Market Expansion
Municipal revenue grew 139% year-over-year with expanded deployments in New York City, Chicago, and Baltimore, showing increased adoption in urban settings.
Retail and Brick-and-Mortar Growth
Retail sales were up 254% year-over-year, with significant expansion in ACE Hardware and Bradley Caldwell locations.