SenesTech reported third‑quarter 2025 revenue of $690,000, a 43% year‑over‑year increase that marked the company’s highest quarterly top line to date. The figure fell short of the consensus estimate of $744,600 by 7.3%, a miss largely attributable to a decline in sales of its legacy ContraPest product, which was partially offset by the explosive growth of its new Evolve® rodent birth‑control line.
The Evolve® product line drove the majority of the revenue surge, accounting for 85% of total sales and growing 77% year‑over‑year. Growth was concentrated across all distribution channels: e‑commerce sales rose 55%, municipal program sales jumped 139%, retail partner sales surged 254%, and pest‑management professional sales increased 29%. The mix shift toward higher‑margin Evolve products helped lift gross profit to 62.8% and contributed to the company’s best‑ever adjusted EBITDA loss.
SenesTech’s adjusted EBITDA loss narrowed to $1.2 million, the smallest loss in company history. The improvement was achieved despite a $111,000 legal expense and a $49,000 non‑cash lease expense that were included in the quarter’s results. Earnings per share were –$0.28, beating the consensus estimate of –$0.357. The beat reflects disciplined cost management and the favorable product mix, which increased the contribution margin of the high‑margin Evolve line.
Cash and short‑term investments totaled $10.2 million at the end of September, giving the company an operating runway through the end of 2027. Management emphasized that the strong balance sheet supports continued growth and the pursuit of profitability without additional equity financing.
Management provided limited forward guidance, noting that the company remains confident in achieving profitability and that no additional equity is required. Investor reaction was mixed: the revenue miss prompted a cautious stance, while the record revenue and improved EBITDA loss generated some optimism about the company’s trajectory.
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