SenesTech, Inc. (NASDAQ: SNES) reported fourth‑quarter and full‑year 2025 results on March 12, 2026. Revenue for the quarter was $421,000, a decline from the $501,000 reported in Q4 2024 and well below the consensus estimate of $776,000. Earnings per share were $‑0.35, missing the consensus estimate of $‑0.30.
Full‑year 2025 revenue reached $2.2 million, up 20% from $1.86 million in 2024, while the net loss widened to $6.4 million from $6.2 million. The company’s gross margin improved to 62.5% from 54.1% in 2024, driven by a higher mix of high‑margin Evolve products and manufacturing efficiencies.
Management cited challenges in scaling the Evolve product line as the primary reason for the quarterly revenue miss. The company’s e‑commerce segment grew 88% year‑over‑year, now accounting for more than half of total revenue, and the transition to direct management of Amazon sales added a temporary $200,000 revenue impact in the quarter.
CFO Tom Chesterman said the company’s revenue growth for the year was 20% and that the temporary transition effect had reduced full‑year revenue by about $200,000. He also noted that a legal dispute with Liphatech had been resolved and that the company’s liquidity position, with $8.6 million in cash and short‑term investments, provides runway through the second quarter of 2027.
Investors responded positively to the results, citing the company’s strong e‑commerce momentum, the improvement in gross margin, and the strategic focus on cost controls and channel expansion. Management also highlighted the ongoing search for a new CEO following Joel Fruendt’s retirement, describing the transition as planned and orderly.
Despite the quarterly miss, the company’s full‑year performance and margin expansion suggest that the underlying business model remains resilient. The company’s focus on e‑commerce, municipal markets, and product mix optimization positions it to capitalize on growth opportunities while maintaining disciplined cost management.
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