SenesTech Q4 2024 Earnings Report

SenesTech EPS Results

• Actual EPS: -$1.22
• Consensus EPS: -$1.50
• Beat/Miss: Beat by +$0.28
• One Year Ago EPS: N/A

SenesTech Revenue Results

• Actual Revenue: $0.50 million
• Expected Revenue: $0.71 million
• Beat/Miss: Missed by -$206.00 thousand
• YoY Revenue Growth: N/A

SenesTech Announcement Details

• Quarter: Q4 2024
• Date: 3/12/2025
• Time: Before Market Opens
• Conference Call Date: Wednesday, March 12, 2025
• Conference Call Time: 5:00PM ET

SenesTech (NASDAQ:SNES) develops a technology for managing animal pest populations through fertility control. It offers ContraPest, a liquid bait that limits reproduction of male and female rats. The company was incorporated in 2004 and is headquartered in Phoenix, Arizona.

SenesTech Q4 2024 Earnings Call Transcript

Presentation

[Operator]

Good day, and welcome to the SenesTech Fourth Quarter and Fiscal Year twenty twenty four Financial Results Conference Call. All participants will be in listen only mode. After today's presentation, there will be an opportunity to ask questions. Please note today's event is being recorded.

[Operator]

I'd now like to turn the conference over to Robert Blum with Lytham Partners. Please go ahead.

[Robert Blum, Managing Partner at Lytham Partners]

All right, great. Thank you so much and thank you all for joining us today as the operator mentioned to discuss SenesTech's fourth quarter and full year twenty twenty four financial results and this for the period ended 12/31/2024. With us on the call representing the company today is Mr. Joel Fruent, the company's Chief Executive Officer Mr. Tom Chesterman, the company's Chief Financial Officer.

[Robert Blum, Managing Partner at Lytham Partners]

At the conclusion of today's prepared remarks, we'll open the call for a question and answer session. If you dialed into the call through the traditional teleconference line, Before we begin with prepared remarks, we submit for the record the following statements. Statements made by the management team at SenesTech during the course of this conference call may contain forward looking statements within the meaning of Section 27A of the Securities Act of 1933 as amended and Section 21E of the Securities Exchange Act 1934 as amended and such forward looking statements are made pursuant to the Safe Harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward looking statements describe future expectations, plans, results or strategies and are generally preceded by words such as may, future, plan or planned, will or should, expected, anticipates, draft, eventually or projected. Listeners are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward looking statements, including the risks that actual results may differ materially from those projected in the forward looking statements as a result of various factors and other risks identified in the company's filings with the Securities and Exchange Commission.

[Robert Blum, Managing Partner at Lytham Partners]

All forward looking statements contained during this conference call speak only as of the date in which they were made and are based on management's assumptions and estimates as of such date. The company does 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. All right, with that said, let me turn the call over to Joel Freundt, Chief Executive Officer. Joel, please proceed.

[Joel Fruendt, CEO, President & Director at Senestech]

Thank you, Robert, and good afternoon, everyone. Thank you all for joining us today for our fourth quarter and year end conference call. So let's jump right into it. As you saw in the press release, we concluded a truly transformational year for SenesTech with record financial results across the board, including quarterly revenues, which were up 70% and quarterly gross profit margins of 61%, which when coupled with our improvement in our operational efficiencies through cost reductions resulted in our smallest quarterly adjusted EBITDA loss in company history as we advance our progress towards profitability. On top of the record results and efficiencies already implemented to date, we are also implementing additional initiatives effective immediately, which are set to further reduce cash burn by $2,000,000 on an annualized basis.

[Joel Fruendt, CEO, President & Director at Senestech]

These new savings coupled with the higher gross margins from Evolv are anticipated to reduce the revenue threshold for cash flow breakeven to $7,000,000 annually compared to $12,000,000 historically. I will ask Tom to expand more on some of these new initiatives to lower costs in a moment. But let me state upfront that our goal is to achieve cash flow breakeven in the near term, which we believe serves as a significant inflection point for the company. To that end, as Tom will touch on momentarily, we believe the strategic financing we just completed this week will provide us the capital necessary to accelerate our progress to cash flow breakeven. But first, back to the dramatically improved financial results announced this past quarter and the progress it highlights towards that goal of cash flow breakeven.

[Joel Fruendt, CEO, President & Director at Senestech]

The improvements are being driven almost entirely by the introduction of our EvolvSoft Bait Fertility Control Solution, which was launched a year ago. Its improved form factor, economical price point, proven efficacy and lengthy shelf life have allowed us to expand distribution into new retail customers and end markets. Evolve continues to be a game changer for SynasTech as well as for the industry. As we have communicated to you for a few quarters now, we have identified a number of key growth objectives that will allow us to continue the positive trajectory we are on. Let me take a moment to walk through the updates on each of these.

[Joel Fruendt, CEO, President & Director at Senestech]

First, during the year, we successfully launched EvolVRAT and EvolvMOUSE on numerous online retailers, including amazon.com, walmart Com, direct to supply Com and diypestcontrol.com. Inclusive of the company's online store at senestech dot com, overall e commerce sales increased 206% during this year's fourth quarter compared to last year's fourth quarter and represented 55% of Q4 twenty twenty four revenue. We are still in the early stages of reach here with tractorsupply.com coming on in just the last few weeks. We also have seen a nice uptick in our municipal programs. As we discussed briefly last quarter, New York City Council has approved a bill to implement a rat contraception pilot program.

[Joel Fruendt, CEO, President & Director at Senestech]

I'm pleased to confirm that we received an order from New York City in December 2024 for EVOLVE rat and that will be shipped in April. The product is initially expected to be deployed in a few locations throughout the city and expand from there based on success parameters being met. Beyond the New York City government deployment, we also signed an agreement with Bug Off Pest Control in New York City as we work directly with customers to implement contraception into their IPM programs. And beyond New York, in January of this year, the City Of Baltimore joined other major cities on the ratiest cities list, such as Los Angeles by integrating Evolv into their integrated pest management strategy. The city placed a substantial initial order for Evolv and is currently deploying the product this quarter as part of its integrated pest management program.

[Joel Fruendt, CEO, President & Director at Senestech]

Programs have also just begun and orders received in Chicago and Boston area. While everyone loves to talk about the municipal orders, there are a number of other end market customers that can be significant growth drivers for us going forward. One of these is the warehousing and distribution sector. Just last week, we announced the shipment of a substantial order revolve to one of the largest warehousing and distribution companies in the Midwest. As you might imagine, the warehousing in The United States is huge.

[Joel Fruendt, CEO, President & Director at Senestech]

Controlling rodent infestations in facilities that store food supplies present unique challenges as the use of traditional poisons is often not feasible due to safety concerns. Evolv offers a humane and effective alternative ensuring the integrity of stored products while maintaining compliance with industry regulations. We are excited to expand into this exciting new vertical. Another key area for us has been to expand our reach internationally. Again, Evolve with its soft baked form factor has permitted this to occur.

[Joel Fruendt, CEO, President & Director at Senestech]

To date, we have signed distribution agreements in 10 separate countries to distribute Evolve, including a letter of intent signed with Esmer Corporation in India just a few weeks ago. As we have communicated in the past, international distribution often requires country specific registrations efforts. To date, we have obtained approval and shipped product to Hong Kong, the United Arab Emirates, the Netherlands and The Maldives. Our distributors in Australia, New Zealand and India are in the final stages with large orders already set to be shipped upon approval for both countries. Others continue to work through the registration process and we expect further approvals during the remainder of the year.

[Joel Fruendt, CEO, President & Director at Senestech]

Another key initiative we have been working on has been brick and mortar retail chains. During the year, we launched Evolve in ACE Hardware stores and brought on manufacturers' representative agencies targeting retail, co op and big box chains to inventory evolve in their stores. The process is largely driven by longer purchasing cycles by retailers with initial e commerce proof points considered key determining factors. We just returned from events for Midstates Distributing, ACE Hardware and Orgo Hardware distribution. We saw enthusiasm in orders from individual stores, but more importantly, we are finalizing plans with both to stock their warehouses as a standard product.

[Joel Fruendt, CEO, President & Director at Senestech]

Our progress on e commerce and the individual store orders positively influence these discussions. So those are the key drivers that lead to that led to the rapid growth this past year in the fourth quarter in particular, growth in e commerce, expansion into municipal markets, expansion into new end markets and expansion internationally. Our team continues to aggressively pursue each of these areas and others to bring our evolved solution to the market. And as I stated at the beginning, as this growth continues, which when coupled with higher gross margins and lower operating expenses, it positions us well to achieve our goal of cash flow breakeven. With that, let me turn the call over to Tom Chesterman, who's going to review the financials in more detail.

[Joel Fruendt, CEO, President & Director at Senestech]

I will then wrap up with a few closing comments before taking questions. Tom?

[Tom Chesterman, CFO at Senestech]

Thank you, Joel. We will be filing our 10 K shortly, but let me hit the financial highlights. But start with what Joel mentioned at the beginning was the strategic financing that we completed this week. It doesn't look like budget first glance, a warrant repricing at the market that raised $1,000,000 but we also included $4,000,000 of short term warrants. We've had great success with warrants historically raising capital with much more lower dilution than public offerings.

[Tom Chesterman, CFO at Senestech]

To some extent, this can be seen as an alternative to a $5,000,000 public offering priced at the money instead of at a discount. With this cash along with our existing cash in our ATM facility under which we've already raised $1,000,000 during the first quarter as well as for the efficiencies mentioned, we can confidently pursue the initiatives discussed by Joel on our pathway to profitability. I should note that we do not reprice warrants without careful consideration. We do everything we can to execute our initiatives such that warrants are exercised naturally. Now to the numbers.

[Tom Chesterman, CFO at Senestech]

For the fourth quarter, revenue increased 70% to a record quarterly record of $501,000 For the year, revenue increased 56% to $1,900,000 As Joel touched on, quarterly growth was driven by the market acceptance of our evolved products and growth in e commerce. Breaking it down by product, evolved RAT was 52% of Q4 sales, Evolv Maus represented 24%, while our historical ContraVest product was the remainder. For the year overall, Evolv RAT was 53% and Maus 12%. From a product growth perspective, Evolv RAT was up three sixty five percent in Q4 from a year ago period, while there were no sales in Evolv mouse in the year ago fourth quarter as it was just launched in May of twenty twenty four. ContraPest was down 51% as customers convert to the Evolv solutions.

[Tom Chesterman, CFO at Senestech]

Looking at revenues by channels, e commerce represented our largest channel at 55% of our Q4 sales. This was followed up by pest management professionals and international distributors. As Joel mentioned, e commerce growth has been extremely strong lately with Q4 e commerce sales up 206% from the year ago fourth quarter. With the addition of tractorsupply.com and hopefully others, we expect these screen trends to continue. As we said in the past, our evolved product line represents a higher margin opportunity for Synestec and it is proving this out.

[Tom Chesterman, CFO at Senestech]

Ever improving manufacturing operations give us both pricing and margin flexibility. Gross margin for this quarter was 61% compared to 44% in the year ago fourth quarter. From a dollar standpoint, gross profit dollars increased 136% in Q4 twenty twenty four compared to Q4 of last year. As I mentioned last quarter, we're also increasing production capacity to meet future demand. We have secured a newer, larger facility in Phoenix that will allow us to meet the next five years of increasing demand without dramatically increasing our facility costs.

[Tom Chesterman, CFO at Senestech]

We expect to move to this location during the first half of this year. As you saw from the results, we continue to hold the line on OpEx as well, but are implementing a new series of optimization initiatives to further reduce expenses. The first is pausing new product development to focus exclusively on the commercialization and growth of eVOLV RAT and eVOLV mouse. Second, we are bringing marketing, regulatory and intellectual property functions in house to reduce reliance on external consultants. And finally, we are optimizing our direct sales efforts shifting to a more proactive approach focused on high value customer acquisition in key customer segments such as e commerce and retail and focusing on commission only models such as distributors and manufacturer representatives.

[Tom Chesterman, CFO at Senestech]

All told, we believe we will cut our cash burn by about 30% from $1,500,000 per quarter to about $1,000,000 per quarter. These savings coupled with the higher gross margins and the operating efficiencies gained on manufacturing, we expected to move our cash flow breakeven level to a little over $1,500,000 per quarter. As we've discussed, this can be achieved very quickly with one or two big box sales, rapid expansion of brick and mortar, retail or municipal or large scale agriculture or international sales. We have any number of shots on goal coming up. With the revenue growth plans we have, higher gross margins, lower OpEx and a strategic funding completed that can provide the funds necessary to achieve cash flow breakeven, I believe we have reached that inflection point that many companies and investors are looking for.

[Tom Chesterman, CFO at Senestech]

There is still execution work to be done, but the pathway is clear. Let me turn the call back to Joel. Joel?

[Joel Fruendt, CEO, President & Director at Senestech]

Thanks, Tom. Just a couple of closing comments. We are committed to executing a focused strategy that positions SenesTech for sustainable long term success by concentrating our most impactful growth areas, improving the cost efficiencies and streamlining operations, we are taking decisive steps to achieve profitability. This is the inflection point everyone has been looking for and we are on the pathway to achieving it. As the only manufacturer of U.

[Joel Fruendt, CEO, President & Director at Senestech]

S. EPA registered and accepted products for the reduction of reproductive capacity in rodents, we have a tremendous opportunity ahead of us to change the game of how the pest control industry, municipalities, agriculture, warehousing and consumers in general address the problem of rodent infestations. With Evolved in its improved form factor, economical price point, proven efficacy and lengthy shelf life, we have addressed all the key product attribute requirements communicated to us by the industry. Our financial results are highlighting the progress made and with initiatives in place to continuing driving rapid adoption of our innovative solutions, I believe we are in a great position as we enter 2025. Thank you to everyone for their time today.

[Joel Fruendt, CEO, President & Director at Senestech]

Operator, let's open the lines for questions.

[Operator]

Yes, sir. Thank

[Sameer Joshi, Senior Equity Research Analyst at H.C. Wainwright & Co., LLC]

you.

[Operator]

Our first question today comes from Sameer Joshi with H. C. Wainwright. Please go ahead.

[Sameer Joshi, Senior Equity Research Analyst at H.C. Wainwright & Co., LLC]

Hey, thanks. Good afternoon, Joel, Tom. Congrats on all the progress and the new initiatives for the leasing costs optimizing costs looks good.

[Joel Fruendt, CEO, President & Director at Senestech]

Thank you.

[Sameer Joshi, Senior Equity Research Analyst at H.C. Wainwright & Co., LLC]

Just a few questions.

[Sameer Joshi, Senior Equity Research Analyst at H.C. Wainwright & Co., LLC]

The opportunity in New York, you're shipping your first initial product for the pilot in April. Do you have some sort of visibility into how big it could get and what over a period of time say six to eight to nine months?

[Joel Fruendt, CEO, President & Director at Senestech]

Yes. So they're laying out the, they want to start the project April 27. There's two ten block areas that they're going to focus on. Our technical people will be there with them, helping them assess where the base station should be placed and the product placement. And then they're going to monitor those areas.

[Joel Fruendt, CEO, President & Director at Senestech]

And then as they see progress, they may add additional areas. So while it's hard to predict how much it could spread, we think that getting it on the ground floor in those areas, which will require some significant product usage itself, that we could see some really good opportunities there for growth by adding sections to it.

[Sameer Joshi, Senior Equity Research Analyst at H.C. Wainwright & Co., LLC]

Yes. No, that is a significant opportunity. But I think you also highlighted the e commerce sorry, the warehouse and distribution channels as well in addition to the online efforts. For warehousing, like what are your sales effort look like?

[Joel Fruendt, CEO, President & Director at Senestech]

Well, in the warehousing sector, wherever there's food supplies, food production, right, there's the issue of how are you going to control rodents there, because rodents actually like to go to the where the food is. But really there's not an opportunity to use a lot of the leaf holes there. So, we had in September and October, some good field tests that were done at some of the warehousing facilities. And now we're moving into where they're starting to order pallets of material to deploy the product there. So it's a huge marketplace with warehousing and distribution.

[Joel Fruendt, CEO, President & Director at Senestech]

And we see opportunities across the board in those areas, not only in food production, but in storage of other types of products as well.

[Sameer Joshi, Senior Equity Research Analyst at H.C. Wainwright & Co., LLC]

Understood. On the e commerce front, I think more than 50% of your sales are coming from those platforms. Is this just word-of-mouth like a pull or is there any

[Joel Fruendt, CEO, President & Director at Senestech]

are

[Sameer Joshi, Senior Equity Research Analyst at H.C. Wainwright & Co., LLC]

you spending any ad dollars or awareness dollars on this?

[Joel Fruendt, CEO, President & Director at Senestech]

Yes, we have ad dollars we spend for Google Ads and a lot of online search engine optimization and pay per clicks. And so really starting to hit our stride there. And Amazon sales were recorded their largest increase in quarter over quarter recently and we're excited about that and just getting started on Tractor Supply. And we do have some programs on walmart.com to help us gain traction and gain customers there in the short term.

[Sameer Joshi, Senior Equity Research Analyst at H.C. Wainwright & Co., LLC]

Understood. One clarification question, Tom, I think, described the reduction from $1,500,000 to $1,000,000 on a quarterly basis. Was that the cash burn or was that the OpEx? I may have missed this, sorry.

[Tom Chesterman, CFO at Senestech]

That was cash burn. For adjusted EBITDA.

[Sameer Joshi, Senior Equity Research Analyst at H.C. Wainwright & Co., LLC]

Understood. Got it. And then one last one. I think in the press release you mentioned the Lure bait dispenser. Is there anything any visibility on how that offering is going and what kind of contribution do you expect from that?

[Joel Fruendt, CEO, President & Director at Senestech]

It's a great accessory item because it allows our product to be used in areas that would be hard to put a bait box. So if you're going to hang it in the attics or want to put it on a fence post, put it out in a garden. So while not a high revenue item, because it's relatively inexpensive, It allows access to other areas that will allow more of our product to be used in those areas. But we just got back from some of these shows and we've had a lot of interest in an unexpected amount of orders for the lure product in order to hold the product. So the whole the Evolv product.

[Joel Fruendt, CEO, President & Director at Senestech]

So we're really excited about that.

[Sameer Joshi, Senior Equity Research Analyst at H.C. Wainwright & Co., LLC]

Yes. No, I think the dispensing technology has become more important than the product itself many times. So it's good to see that you're seeing that traction as well.

[Joel Fruendt, CEO, President & Director at Senestech]

Yes. And you know what we have with our with our ContraPest product, we have the Elevate system. And so this is the evolved equivalent of the Elevate system and has really gotten the attention of those customers that want to put the product in unique areas.

[Sameer Joshi, Senior Equity Research Analyst at H.C. Wainwright & Co., LLC]

Yes. And I think even retail customers might find this attractive and easy to use. So sounds good. Thanks a lot for taking my questions.

[Robert Blum, Managing Partner at Lytham Partners]

It's good to talk to you.

[Operator]

Thank you.

[Robert Blum, Managing Partner at Lytham Partners]

All right. Operator, it looks like no questions on the live call at the moment. So we'll jump over to the webcast. Joel, Tom, I've got a series of questions here. I'll just start working through them.

[Robert Blum, Managing Partner at Lytham Partners]

First one here, and touched a little bit on this, but there's been a number of significant contracts signed in late twenty twenty four and early twenty twenty five here. Sort of talk about how long it is expected for these to sort of contribute to meaningful revenue growth? And is there any sort of a revenue forecast that you have for 2025?

[Joel Fruendt, CEO, President & Director at Senestech]

Well, being a regulated product, the difficulty is how are you going to get state approval? How long does it take to get state approvals, local approvals? Sometimes when you get approvals, then they want to do field trials. So I think what you're seeing here is the results of work that we did in early and mid twenty twenty four to get our product out in the hands of field personnel and regulatory personnel do the necessary legwork in order to get it approved. And then once we get the product approved, then show the customers that want to use it within those marketplaces, that it works and and they like to put their hands on it.

[Joel Fruendt, CEO, President & Director at Senestech]

So while I don't want to give a revenue forecast for the rest of this year, what I will say is that, we were working really hard all of last year. So you're starting to see some results from the things that we were doing a year ago. And we'll continue to see that because we had a lot of progress that was made in the middle and the end of twenty twenty four, which should bode well for us going forward.

[Robert Blum, Managing Partner at Lytham Partners]

Okay, great. Next question here and you talked a little bit about this in your prepared remarks, but talk about some of the traction within the big box retailers here.

[Joel Fruendt, CEO, President & Director at Senestech]

Well, we've had, Ace Hardware was really the first one that we talked with and said, yes, we think that our stores and dealers would really like this product. And so that was a little less than a year ago. And we've gotten to the point where now we're under consideration to be put into their warehouses at their recent market that they have twice a year. The number of orders we got from this market over the other one was up about 1000%. So there we're in a really good spot there as we move forward.

[Joel Fruendt, CEO, President & Director at Senestech]

I think some of the .com e commerce will lead to us getting into the brick and mortar stores and looking at both Tractor Supply and walmart.com. The other big thing is that, as I mentioned in the remarks, we have some really well tied in rep agencies that are representing us at all of the big retailers. And so we're hoping to have some really good news on some developments there going forward in the near future.

[Robert Blum, Managing Partner at Lytham Partners]

Okay, great. Next question here, it says, the review case studies and empirical evidence are all extremely positive for Evolv. It seems it's only a matter of getting the word out now. Is this also what you're seeing on your end and how do you plan to deploy capital to increase awareness and sales?

[Joel Fruendt, CEO, President & Director at Senestech]

Well, as Tom mentioned earlier, and we've had some improvements that we think we're making, we're streamlining some things. I think that what you see is we have a really good marketing plan for the year. So we're going to continue on with our marketing plans, being able to reach more of the end markets that we pursue. I mentioned municipality, certainly when we start deploying in New York City and recently we just got an order from one of the areas within Chicago. You're going to see some good public relations campaigns built around those, because we think one of the most important things is that we got to be able to get the word out there on where it is working and how it's going.

[Joel Fruendt, CEO, President & Director at Senestech]

And once we do that, then we start you can start to see the, the landslide of others that are interested in it. So we're going to keep up our plans to get the word out before on social media. We're going to continue to do the things necessary to drive business both to the e commerce sites as well as through our distribution channels. And we're set up well in the distribution channels and that's once again is from the work that we did in 2024.

[Robert Blum, Managing Partner at Lytham Partners]

All right. Again, just quick reminder to everyone on the webcast player, if you have a question, you can type it into the question box there. And again, if you're dialed in live to the teleconference line there, you can press then 1 to ask a question. A couple more questions here for you, Joel and Tom. With a 60% gross margin now, can you lower the price of your products and increase sales enough to cover the lower margin?

[Robert Blum, Managing Partner at Lytham Partners]

Talk sort of about the elasticity of demand.

[Joel Fruendt, CEO, President & Director at Senestech]

Absolutely. So, we're at a price point where we're right in line with competitive products that are within the industry, But we are looking at really ramping up revenue. So that may involve some discounts for larger orders from some of our distribution channels. And we think that once we get a regular cadence moving within our manufacturing facility, that we're going to be able to reduce the price out in the field as well as lower our cost and be able to hold those margins steady.

[Robert Blum, Managing Partner at Lytham Partners]

All right. And that last point there I think dovetails into what may be the last question here. Are there any limitations or constraints to being able to manufacture and supply product for continuing these significant revenue increases? Are there cost savings to higher production levels?

[Joel Fruendt, CEO, President & Director at Senestech]

Tom, you should take that one.

[Tom Chesterman, CFO at Senestech]

Okay. I would love to. So first, no, we don't have the constraints. We've built our supply chain management and our manufacturing processes to be able to expand seamlessly into larger demand. As for the efficiencies, yes, absolutely.

[Tom Chesterman, CFO at Senestech]

We've been working on that. The manufacturing team here in Arizona has done a very, very good job of increasing batch size, reducing waste. They're always making improvements to the process. And as we move to our new location, we expect to be doing more and more of that. One of the things that is out there is that the larger you get in terms of your manufacturing process, the more automation options there are to as well.

[Tom Chesterman, CFO at Senestech]

And these are relatively low investment improvements to the process and is to be honest, it is explicitly in the goals and objectives for the manufacturing team to find these efficiencies and find the automation and move forward to an ever improving manufacturing process.

[Robert Blum, Managing Partner at Lytham Partners]

All right, fantastic. I am showing no further questions. So Joel, maybe I'll turn it over to you for any closing remarks.

[Joel Fruendt, CEO, President & Director at Senestech]

Well, thanks once again for being online and listening to our story. We're excited about where we're at. We're excited about all the work that we did in 2024 that is going to pay off for us in 2025. And we feel that our future, our near future is very, very bright and we look forward to telling you all about it on our next conference call.

[Operator]

Thank you. This concludes today's presentation. You may now disconnect your lines and have a wonderful day.

Participants

Analysts

• Robert Blum, Managing Partner at Lytham Partners
• Joel Fruendt, CEO, President & Director at Senestech
• Tom Chesterman, CFO at Senestech
• Sameer Joshi, Senior Equity Research Analyst at H.C. Wainwright & Co., LLC