SenesTech (SNES -7.9%) says that Q1 results reflect temporary disruptions due to implementation of end user sales and marketing strategy, delay in deployments due to anticipated seasonal reduction in rodent activity during the quarter and the transition to the removal of ContraPest's 'restricted use only' status at the state level.
Revenue remained flat at $19,000; net loss was $2.4M compared with a net loss of $2.7M last year; adjusted EBITDA loss was $2M compared to $1.8M.
Ended the quarter with cash and cash equivalents of ~$2.9M
The company appointed Ken Siegel as its new Chief Executive Officer, succeeding the Company's Co-Founder, Loretta Mayer, who will remain Chair and Chief Scientific Officer.
Mr. Siegel brings over 25 years of experience and most recently he served as President of Diamond Resorts International
Previously: SenesTech EPS in-line, misses on revenue (May 15)
Now read: More on CUI Global's Q1 results »
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