Despite maintaining a robust gross margin that peaked at 65.4% in 2025Q2, the company remains unable to achieve profitability as operating expenses frequently exceed $1.5 million per quarter.
| Sales/Revenue | 2.23M | 2.22M | 1.86M | 1.19M | 1.02M | 576K | 258K | 143K | 297K | 52K | 318K | 241K | 199K |
| Revenue Growth % | 15.67% | 19.6% | 55.66% | 17.08% | 76.91% | 123.26% | 80.42% | -51.85% | 471.15% | -83.65% | 31.95% | 21.11% | - |
| Cost of Goods Sold | 846K | 833K | 853K | 654K | 555K | 356K | 281K | 101K | 241K | 45K | 196K | 0 | 0 |
| COGS % of Revenue | - | 37.51% | 45.93% | 54.82% | 54.47% | 61.81% | 108.91% | 70.63% | 81.14% | 86.54% | 61.64% | - | - |
| Gross Profit | 1.38M | 1.39M | 1M | 539K | 464K | 220K | -23K | 42K | 56K | 7K | 122K | 241K | 199K |
| Gross Margin % | 62.05% | 62.49% | 54.07% | 45.18% | 45.53% | 38.19% | -8.91% | 29.37% | 18.86% | 13.46% | 38.36% | 100% | 100% |
| Gross Profit Growth % | - | 38.25% | 86.27% | 16.16% | 110.91% | 1056.52% | -154.76% | -25% | 700% | -94.26% | -49.38% | 21.11% | - |
| Operating Expenses | 8.34M | 7.89M | 7.25M | 8.27M | 10.14M | 9.15M | 7.91M | 10.33M | 11.94M | 12.32M | 10.83M | 15.89M | 5.9M |
| OpEx % of Revenue | - | 355.38% | 390.58% | 693.29% | 994.9% | 1589.24% | 3065.89% | 7223.08% | 4018.86% | 23698.08% | 3406.92% | 6591.7% | 2962.81% |
| Selling, General & Admin | 6.67M | 6.2M | 5.54M | 7.02M | 8.22M | 7.18M | 6.44M | 8.42M | 9.53M | 9.13M | 8.13M | 8.66M | 2.7M |
| SG&A % of Revenue | - | 278.93% | 298.38% | 588.1% | 807.07% | 1246.18% | 2496.12% | 5888.81% | 3209.43% | 17561.54% | 2556.29% | 3595.44% | 1356.78% |
| Research & Development | 1.67M | 1.7M | 1.71M | 1.23M | 1.86M | 1.95M | 1.49M | 1.91M | 2.4M | 3.19M | 2.71M | 7.22M | 3.2M |
| R&D % of Revenue | - | 76.45% | 92.19% | 102.93% | 182.43% | 339.24% | 579.07% | 1334.27% | 809.43% | 6136.54% | 850.63% | 2996.27% | 1606.03% |
| Other Operating Expenses | 0 | 0 | 0 | 27K | 55K | 22K | -24K | 0 | 21K | 87K | -31K | 0 | 31K |
| Operating Income | -6.96M | -6.5M | -6.25M | -7.73M | -9.67M | -8.93M | -7.93M | -10.29M | -11.88M | -12.32M | -10.52M | -15.64M | -5.7M |
| Operating Margin % | -312.29% | -292.89% | -336.51% | -648.11% | -949.36% | -1551.04% | -3074.81% | -7193.71% | -4000% | -23684.62% | -3306.92% | -6491.7% | -2862.81% |
| Operating Income Growth % | - | -4.1% | 19.18% | 20.07% | -8.28% | -12.62% | 22.88% | 13.41% | 3.54% | -17.12% | 32.78% | -174.62% | - |
| EBITDA | -6.83M | -6.37M | -6.09M | -7.6M | -9.49M | -8.63M | -7.64M | -9.87M | -11.43M | -11.93M | -10.32M | -15.46M | -5.57M |
| EBITDA Margin % | -306.59% | -286.81% | -328.11% | -636.8% | -931.4% | -1498.44% | -2963.18% | -6904.9% | -3849.49% | -22932.69% | -3245.28% | -6416.18% | -2800% |
| EBITDA Growth % | -15.62% | -4.55% | 19.8% | 19.96% | -9.96% | -12.9% | 22.57% | 13.64% | 4.13% | -15.55% | 33.26% | -177.51% | - |
| D&A (Non-Cash Add-back) | 127K | 135K | 156K | 135K | 183K | 303K | 288K | 413K | 447K | 391K | 196K | 182K | 125K |
| EBIT | -6.82M | -6.36M | -6.16M | -7.71M | -9.69M | -8.26M | -7.91M | -9.98M | -11.83M | -12.2M | -10.71M | -17.32M | -6.57M |
| Net Interest Income | 180K | 122K | 34K | 22K | 5K | -7K | -25K | 3K | -49K | -57K | -87K | -855K | -632K |
| Interest Income | 201K | 144K | 56K | 26K | 7K | 4K | 3K | 45K | 25K | 29K | 0 | 0 | 0 |
| Interest Expense | 21K | 22K | 22K | 4K | 2K | 11K | 28K | 42K | 74K | 86K | 87K | 855K | 632K |
| Other Income/Expense | 180K | 122K | 65K | 22K | -21K | 666K | -4K | 269K | -28K | 30K | -279K | -2.53M | -1.5M |
| Pretax Income | -6.78M | -6.38M | -6.18M | -7.71M | -9.7M | -8.27M | -7.94M | -10.02M | -11.91M | -12.29M | -10.79M | -18.17M | -7.2M |
| Pretax Margin % | -304.22% | -287.39% | -333.01% | -646.27% | -951.42% | -1435.42% | -3076.36% | -7005.59% | -4009.43% | -23626.92% | -3394.65% | -7540.66% | -3618.09% |
| Income Tax | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 46K | 0 | 56K | 177K | 0 |
| Effective Tax Rate % | 0% | 0% | 0% | 0% | 0% | 0% | 0% | 0% | -0.39% | 0% | -0.52% | -0.97% | 0% |
| Net Income | -6.78M | -6.38M | -6.18M | -7.71M | -9.7M | -8.27M | -7.94M | -10.02M | -11.91M | -12.29M | -10.79M | -18.17M | -7.2M |
| Net Margin % | -304.22% | -287.39% | -333.01% | -646.27% | -951.42% | -1435.42% | -3076.36% | -7005.59% | -4009.43% | -23626.92% | -3394.65% | -7540.66% | -3618.09% |
| Net Income Growth % | -12.7% | -3.22% | 19.79% | 20.47% | -17.26% | -4.17% | 20.77% | 15.87% | 3.08% | -13.81% | 40.6% | -152.4% | - |
| Net Income (Continuing) | -6.78M | -6.38M | -6.18M | -7.71M | -9.7M | -8.27M | -7.94M | -10.02M | -11.91M | -12.29M | -10.79M | -18.17M | -7.2M |
| Discontinued Operations | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| Minority Interest | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 | 0 |
| EPS (Diluted) | -1.29 | -1.95 | -8.86 | -115.10 | -1860.00 | -1773.00 | -6683.98 | -18457.00 | -30283.00 | -53760.00 | -82080.00 | -86.40 | -34.08 |
| EPS Growth % | 77.76% | 77.99% | 92.3% | 93.81% | -4.91% | 73.47% | 63.79% | 39.05% | 43.67% | 34.5% | -94900% | -153.52% | - |
| EPS (Basic) | - | -1.95 | -8.86 | -115.10 | -1860.00 | -1773.00 | -6683.98 | -18457.00 | -30283.00 | -53760.00 | -82080.00 | -86.40 | -34.08 |
| Diluted Shares Outstanding | 5.26M | 32.76M | 697.97K | 66.99K | 5.21K | 4.66K | 1.25K | 543 | 404 | 228 | 134 | 211 | 211 |
| Basic Shares Outstanding | 5.26M | 32.76M | 697.97K | 66.99K | 5.21K | 4.66K | 1.25K | 543 | 404 | 228 | 134 | 211 | 211 |
| Dividend Payout Ratio | - | - | - | - | - | - | - | - | - | - | - | - | - |
Persistent operating cash burn
As reported in recent financial filings, SenesTech's quarterly revenue growth has fluctuated significantly, ranging from a 16.0% contraction in 2025Q4 to a 78.1% expansion in 2024Q1, suggesting that the company's current sales model lacks the consistency required for predictable long-term scaling in the specialty chemical market.
The erratic nature of top-line performance indicates a heavy reliance on lumpy, non-recurring municipal or pilot-based deployments rather than a stable, recurring revenue stream. Investors should monitor whether the company can transition from these sporadic project-based wins to a repeatable, high-volume commercial adoption model.
Based on the provided income statement data, SenesTech maintains a relatively healthy gross margin profile, peaking at 65.4% in 2025Q2, which highlights the inherent value of its proprietary liquid bait formulation despite the company's inability to translate this efficiency into positive operating income.
The ability to sustain gross margins above 60% in most periods suggests that the product possesses genuine pricing power or low variable production costs. However, this margin strength is currently overshadowed by the massive operating expenses required to support the company's specialized sales and regulatory efforts.
According to the historical income statement, SenesTech's operating expenses, particularly SG&A, consistently dwarf gross profits, resulting in persistent operating losses that demonstrate a lack of operational leverage as the company struggles to scale its specialized rodent control solution across broader commercial and municipal markets.
The company's cost structure appears heavily front-loaded, with SG&A and R&D spending showing little correlation with revenue growth. This suggests that the current business model requires a significant, non-linear increase in revenue density to achieve the economies of scale necessary to reach break-even profitability.
As evidenced by the quarterly data, SenesTech's operating expenses frequently exceed $1.5 million per quarter, a figure that significantly outpaces the company's gross profit generation and underscores the substantial financial burden of maintaining its regulatory and educational sales infrastructure in a competitive specialty chemical landscape.
The persistent gap between revenue and operating costs indicates that management has yet to optimize its expense discipline relative to its current market penetration. Without a clear path to reducing these fixed costs or dramatically increasing revenue, the company remains highly dependent on external capital to fund operations.
Based on the reported figures, the company's reliance on equity financing to cover persistent net losses raises significant questions regarding the long-term viability of its current go-to-market strategy, as the high cost of customer acquisition appears to be outpacing the lifetime value of its rodent control contracts.
Short-term revenue spikes may mask the underlying challenge of high churn or long sales cycles inherent in the non-lethal pest control industry. Investors should be wary of whether the current growth trajectory is sufficient to achieve self-sustaining cash flow before the company's limited cash reserves are exhausted.
Quick answers to the most common questions about buying SNES stock.
For fiscal year 2025, SenesTech, Inc. (SNES) reported total revenue of $2.2M. This represents a 1016.1% increase compared to $0.2M in 2014.
SenesTech, Inc. (SNES) reported a net loss of $6.4M for the fiscal year ending 2025.
SenesTech, Inc. (SNES) reported an operating income of $-6.5M, resulting in an operating profit margin of -292.9%. This margin reflects the operational efficiency of the business before interest and taxes.
SenesTech, Inc. (SNES) generated $1.4M in gross profit for the year, representing a gross profit margin of 62.5%. This demonstrates the company's core pricing power and production efficiency.