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PHOENIX - SenesTech, Inc. (NASDAQ: SNES), a developer of humane rodent pest control, has announced the availability of its Evolve™ Rodent Birth Control product on TractorSupply.com. This move is part of the company’s strategy to increase its e-commerce reach, offering a non-toxic solution to a wider national customer base. According to InvestingPro data, the company has shown impressive revenue growth of 38.16% over the last twelve months, while maintaining a healthy gross profit margin of 50.15%.
Tractor Supply Company (NASDAQ:TSCO), the largest rural lifestyle retailer in the United States, operates more than 2,200 stores across 49 states and has a growing online platform. The addition of Evolve Rodent Birth Control to Tractor Supply’s e-commerce offerings expands SenesTech’s digital footprint, which already includes Amazon (NASDAQ:AMZN), Walmart (NYSE:WMT).com, and DIYpestcontrol.com. InvestingPro analysis suggests the company is currently undervalued, with strong financial health indicators including a current ratio of 6.32, indicating robust liquidity.
Joel Fruendt, President and CEO of SenesTech, stated that this expansion onto TractorSupply.com is significant for enhancing online distribution and meeting the rising consumer demand for sustainable and humane rodent control options. Fruendt also noted that the company’s Amazon store has seen a 27% quarter-over-quarter sales increase. This growth momentum is reflected in the company’s recent market performance, with InvestingPro data showing a significant 25.45% return over the past week.
SenesTech is focused on creating healthier environments through fertility control in animal pest populations. Their products, including Evolve™ rodent birth control, are designed to integrate into existing pest management programs, aiming to improve effectiveness while reducing the need for traditional poisons. The company’s mission emphasizes cleaner cities, more efficient businesses, and healthier communities with humane, effective, and sustainable products.
The company’s forward-looking statements suggest that the TractorSupply.com presence is a key milestone in its e-commerce growth strategy, aiming to make Evolve more accessible to both consumers and businesses. While these statements are subject to various risks and uncertainties that could impact actual results, InvestingPro data shows the company holds more cash than debt on its balance sheet, providing financial flexibility for its expansion plans. For deeper insights into SenesTech’s financial health and growth prospects, investors can access the comprehensive Pro Research Report available on InvestingPro, which covers over 1,400 US equities.
The information in this article is based on a press release statement from SenesTech, Inc.
In other recent news, SenesTech has been experiencing a series of positive developments. H.C. Wainwright upgraded its outlook on SenesTech, raising the price target to $10.00 and maintaining a Buy rating, reflecting the company’s robust financial performance and successful completion of a 1-for-10 reverse stock split. The company has shown consistent sequential revenue growth, improved gross profits, and reduced operating costs, with its Evolve formulation for rats becoming its best-selling product.
SenesTech reported record quarterly revenue for the third quarter of 2024, primarily driven by strong sales of its Evolve Rat and Evolve Mouse products. The company’s gross margins climbed to over 65%, and operating expenses decreased by 12%. These improvements have set SenesTech on a path towards achieving cash flow breakeven next year.
Additionally, the company is expanding its international sales in the Netherlands, India, Pakistan, and Hong Kong, and gaining traction with municipalities, including New York and Baltimore. Online retail sales are also expected to rise, with platforms like Amazon and Walmart contributing to the sales volume. These are all recent developments that investors should be aware of.
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