SenesTech Q3 revenue jumps on strong e-commerce demand
SNES•SenesTech's third-quarter revenue rose 59% year over year to a record $1.10 million, while gross profit increased 84% to $796,000. Its net loss widened to $1.96 million.
1. Revenue and profit rise
SenesTech said third-quarter revenue increased 42% sequentially and 59% year over year to a record $1.10 million. Gross profit rose 40% sequentially and 84% year over year to $796,000.
2. Loss widens
The company reported a net loss of $1.96 million, compared with an analyst consensus estimate of $1.66 million. Revenue topped the $924,000 consensus estimate.
3. Sales channels expand
E-commerce revenue, particularly through Amazon, drove revenue gains, the company said. Subscription revenue and subscriber count rose sharply, while process changes and an expanded sales team contributed to sequential B2B revenue growth. SenesTech expects continued growth in e-commerce and B2B channels and sees direct B2B as a key growth driver.
