PHOENIX, May 9, 2024 /PRNewswire/ -- SenesTech, Inc. (NASDAQ:SNES, ", SenesTech", or the ", Company", )), the leader in fertility control to manage animal pest populations and the only manufacturer of commercially available, EPA-registered Rat Birth Control® products today announced financial results for the first quarter of 2024. Recent Highlights Record quarterly revenues during Q1 2024 of $415,000, an increase of 78% compared to Q1 2023. Evolve™, formulated especially for the control of rat fertility and launched at the beginning of the year, has quickly become the Company's biggest-selling product, contributing more than 50% of Q1 2024 revenue. Secured distribution, stocking agreements and initial purchase orders with several grain management and open field agricultural distributors, as well as expanded agreements with leading pest management industry distributors such as Veseris and DIY. Extended the Company's geographic reach, with new sales occurring in Hong Kong, Macau, the United Arab Emirates, Singapore, Australia, New Zealand and The Netherlands. Introduced convenient 1.5 lb. and 3 lb. pouches for Evolve in April 2024. Launched Evolve™ Mouse, utilizing the same revolutionary breakthrough fertility solution as Evolve, to control mouse infestations. Product shipments began in May 2024. Expanding distribution to the do-it-yourself market through launch of dedicated Amazon store planned in May 2024. Concluded and distributed Evolve efficacy study to domestic and international regulators. Study supports a 90+% reduction in populations over a 1 year baiting period. Expanded marketing and sales reach to bring Evolve and Evolve Mouse to retail stores through agreements with manufacturer rep groups. Recently accepted as a vendor for a leading hardware retailers' network of 4,500 locations. New York City Council introduced a proposal for deployment of "EPA approved rat birth control" to address rodent infestations. SenesTech is the only manufacturer of commercially available, EPA registered, Rat Birth Control®. Management Discussion "I am extremely pleased with the rapid revenue growth during the first quarter of 78%, resulting in record quarterly revenues, driven by the rapid adoption in the marketplace of Evolve, our all-new soft bait product to control rat populations by restricting fertility," commented Joel Fruendt, President and CEO of SenesTech. "During the first quarter, Evolve accounted for more than 50% of sales, as distributors and end customers have quickly understood the benefits our new solution provides." "In addition to the strong performance in the first quarter, we have achieved key commercial and development milestones which help set the stage for the rest of 2024. On the commercial side, we took a significant step forward in the distribution capabilities of Evolve through the launch of a dedicated online store on Amazon, the world's largest online retailer. We also signed agreements with leading manufacturers rep firms to increase Evolve's presence in retailers and industrial suppliers. On the development front, we significantly increased the size of our addressable market through the launch of Evolve Mouse in May 2024. Evolve Mouse is SenesTech's first population control solution outside of rats, highlighting the first step in our long-term product evolution roadmap to bring fertility control solutions to a wide variety of animal pests," Fruendt continued. "The last few months have been the most exciting and productive time in SenesTech's history. We have achieved record quarterly revenues; launched Evolve, which has quickly become our biggest selling product line; expanded our distribution footprint to address key end markets, geographies, and channels; and expanded our addressable market with the launch of our first new rodent line extension. We are extremely pleased with the progress the team has made in 2024 and look forward to the positive impact the many recent initiatives we have implemented will produce," Fruendt concluded. Q1 2024 Financial Results Revenue during Q1 2024 was $415,000 compared to $233,000 in Q1 2023, an increase of 78%. Net loss during Q1 2024 was $1.8 million, compared with a net loss of $2.0 million for Q1 2023. Adjusted EBITDA loss, which is a non-GAAP measure of operating performance, for Q1 2024 was $1.7 million compared to $1.8 million in Q1 2023. Cash at the end of March 2024 was $3.6 million. Use of Non-GAAP Measure Adjusted EBITDA is a non-GAAP measure. However, this measure is not intended to substitute for those financial measures reported in accordance with GAAP. Adjusted EBITDA has been included because management believes that, when considered together with the GAAP figures, it provides meaningful information related to our operating performance and liquidity and can enhance an overall understanding of financial results and trends. Adjusted EBITDA may be calculated by us differently than other companies that disclose measures with the same or similar term. See our attached financials for a reconciliation of this non-GAAP measure to the nearest GAAP measure. Conference Call Details Date and Time: Thursday, May 9, 2024, at 5:00 pm ET Call-in Information: Interested parties can access the conference call by dialing (844) 308-3351 or (412) 317-5407. Live Webcast Information: Interested parties can access the conference call via a live webcast, which is available in the Investor Relations section of the Company's website at https://app.webinar.net/1B350eDkK4R or http://senestech.investorroom.com/. Replay: A teleconference replay of the call will be available for seven days at (877) 344-7529 or (412) 317-0088, replay access code 2801164. A webcast replay will be available in the Investor Relations section of the Company's website at http://senestech.investorroom.com/ for 90 days.  About SenesTech We are committed to ...