SenesTech Announces 2025 Financial Results Driven by Strong Growth in E-Commerce

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

Operational and Strategic Highlights

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

SENESTECH, INC.

BALANCE SHEETS

(In thousands, except share and per share data)

(Unaudited)

As of December 31,

2025

2024

ASSETS

Current assets:

Cash and cash equivalents

$ 7,575

$ 1,307

Short-term investments

994

—

Accounts receivable, net

201

335

Inventory

994

794

Prepaid expenses and other current assets

297

377

Total current assets

10,061

2,813

Right to use assets, operating leases

2,336

—

Property and equipment, net

410

407

Other noncurrent assets

Total assets

$ 12,843

$ 3,278

LIABILITIES AND STOCKHOLDERS' EQUITY

Current liabilities:

Accounts payable

$ 183

$ 215

Accrued expenses

383

278

Current portion of operating lease liability

139

—

Current portion of notes payable

Deferred revenue

Total current liabilities

798

561

Operating lease liability, less current portion

2,332

Notes payable, less current portion

145

206

Total liabilities

3,275

767

Stockholders' equity:

Common stock

Additional paid-in capital

152,043

138,607

Accumulated deficit

(142,480)

(136,097)

Total stockholders' equity

9,568

2,511

Total liabilities and stockholders' equity

$ 12,843

$ 3,278

SENESTECH, INC.

STATEMENTS OF OPERATIONS

(In thousands, except share and per share data)

(Unaudited)

Three Months Ended

December 31,

Years Ended

December 31,

2025

2024

2025

2024

Revenues, net

$ 421

$ 501

$ 2,221

$ 1,857

Cost of sales

188

196

833

853

Gross profit

233

305

1,388

1,004

Operating expenses:

Research and development

453

424

1,698

1,712

Selling, general and administrative

1,661

1,138

6,195

5,541

Total operating expenses

2,114

1,562

7,893

7,253

Loss from operations

(1,881)

(1,257)

(6,505)

(6,249)

Other income (expense):

Interest income

144

Interest expense

(5)

(7)

(22)

Miscellaneous income

—

Other income, net

122

Net loss

$ (1,804)

$ (1,255)

$ (6,383)

$ (6,184)

Weighted average shares outstanding — basic and diluted

5,223,015

1,029,592

3,275,983

697,974

Loss per share — basic and diluted

$ (0.35)

$ (1.22)

$ (1.95)

$ (8.86)

SenesTech Inc.

Itemized Reconciliation Between Net Loss and Adjusted EBITDA (non-GAAP)

(In thousands)

(Unaudited)

Three Months Ended

December 31,

Years Ended

December 31,

2025

2024

2025

2024

Net loss (as reported, GAAP)

$ (1,804)

$ (1,255)

$ (6,383)

$ (6,184)

Non-GAAP adjustments:

Interest income, net

(77)

(1)

(122)

(34)

Stock-based compensation expense

264

326

Depreciation expense

135

156

Non-cash operating lease expense (benefit)

(5)

135

(8)

One-time legal costs

275

—

631

—

Severance costs

Gain on sale of assets

—

(28)

Total non-GAAP adjustments

314

115

1,070

425

Adjusted EBITDA loss (non-GAAP)

$ (1,490)

$ (1,140)

$ (5,313)

$ (5,759)

SenesTech Inc.

Reconciliation of Net Loss and Adjusted Net Loss (non-GAAP)

(In thousands)

(Unaudited)

Years Ended

December 31,

Percent Change

2025

2024

Net loss (as reported, GAAP)

$ (6,383)

$ (6,184)

3 %

Non-GAAP adjustments:

One-time legal costs

631

—

Non-cash operating lease expense (benefit)

135

(8)

Adjusted net loss (non-GAAP)

$ (5,617)

$ (6,192)

(9) %

SOURCE SenesTech, Inc.