SNES · SenesTech, Inc.
SenesTech, Inc. engages in the development and commercialization of a technology for managing animal pest populations through fertility control. The company offers ContraPest, a liquid bait containing the active ingredients 4-vinylcyclohexene diepoxide and triptolide; and Evolve, a soft bait containing the active ingredient, cottonseed oil that limits the reproduction of male and female rats beginning with the first breeding cycles following consumption. It also develops Evolve Mouse, a modified version of its bait technology containing the active ingredient cottonseed oil that limits reproduction of male and female mice. The company was incorporated in 2004 and is headquartered in Surprise, Arizona.
Cap structure and valuation
| Cap structure | |
|---|---|
| SP | $1.57 |
| SO | 5.3M |
| Options | 0.2M |
| Warrants | 2.9M |
| FD SO | 8.4M |
| MC | $13.1M |
| Cash | $6.8M |
| Total debt | $0.3M |
| EV | $6.6M |
| TTM Multiples | |
|---|---|
| EV / Revenue | 3.0x |
| EV / EBITDA | — |
| MC / Net Income | — |
| EV / FCF | — |
| MC / FCF | — |
MC = SP × FD SO. EV = MC + Debt − Cash. SP = previous yfinance close. Balance-sheet figures as of 2026-05-11. Multiples use TTM (sum of last 4 quarters); shown as "—" when the denominator is zero or negative.
Financial statements
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Total Revenue | 0.49 | 0.42 | 0.69 | 0.62 |
| Revenue YoY % | 1.6% | (16.0%) | 43.2% | 36.2% |
| Cost of Revenue | 0.15 | 0.19 | 0.26 | 0.22 |
| Gross Profit | 0.34 | 0.23 | 0.43 | 0.41 |
| Gross Profit YoY % | 8.0% | (23.6%) | 37.5% | 64.3% |
| Gross Margin % | 68.6% | 55.3% | 62.8% | 65.4% |
| SG&A | 2.04 | 1.66 | 1.38 | 1.60 |
| R&D | 0.42 | 0.45 | 0.40 | 0.43 |
| Operating Expense | 2.46 | 2.11 | 1.78 | 2.02 |
| Operating Income | (2.12) | (1.88) | (1.35) | (1.61) |
| Operating Income YoY % | (27.4%) | (49.6%) | 12.9% | (0.7%) |
| Operating Margin % | (429.8%) | (446.8%) | (195.2%) | (258.2%) |
| EBITDA | (2.09) | (1.85) | (1.32) | (1.58) |
| EBITDA Margin % | (423.5%) | (439.2%) | (191.0%) | (252.6%) |
| Interest Expense | 0.00 | 0.01 | 0.01 | 0.01 |
| Pretax Income | (2.06) | (1.80) | (1.30) | (1.62) |
| Net Income | (2.06) | (1.80) | (1.30) | (1.62) |
| Net Margin % | (418.5%) | (428.5%) | (188.1%) | (258.6%) |
| Diluted EPS | -$0.39 | -$0.20 | -$0.28 | -$0.87 |
| Basic EPS | -$0.39 | -$0.20 | -$0.28 | -$0.87 |
| Diluted Avg Shares | 5.3 | 0.7 | 4.7 | 1.9 |
| Basic Avg Shares | 5.3 | 0.7 | 4.7 | 1.9 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Total Revenue | 2.23 | 2.22 | 1.86 | 1.19 | 1.02 |
| Revenue YoY % | 0.4% | 19.6% | 55.7% | 17.1% | — |
| Cost of Revenue | 0.82 | 0.83 | 0.85 | 0.65 | 0.56 |
| Gross Profit | 1.41 | 1.39 | 1.00 | 0.54 | 0.46 |
| Gross Profit YoY % | 1.8% | 38.2% | 86.3% | 16.2% | — |
| Gross Margin % | 63.4% | 62.5% | 54.1% | 45.2% | 45.5% |
| SG&A | 6.67 | 6.20 | 5.54 | 7.04 | 8.28 |
| R&D | 1.70 | 1.70 | 1.71 | 1.23 | 1.86 |
| Operating Expense | 8.37 | 7.89 | 7.25 | 8.27 | 10.14 |
| Operating Income | (6.96) | (6.50) | (6.25) | (7.73) | (9.67) |
| Operating Income YoY % | (7.0%) | (4.1%) | 19.2% | 20.1% | — |
| Operating Margin % | (312.3%) | (292.9%) | (336.5%) | (648.1%) | (949.4%) |
| EBITDA | (6.83) | (6.37) | (6.09) | (7.60) | (9.49) |
| EBITDA Margin % | (306.6%) | (286.8%) | (328.1%) | (636.8%) | (931.4%) |
| Interest Expense | 0.02 | 0.02 | 0.02 | 0.00 | 0.00 |
| Pretax Income | (6.78) | (6.38) | (6.18) | (7.71) | (9.70) |
| Tax Provision | — | 0.00 | 0.00 | — | — |
| Net Income | (6.78) | (6.38) | (6.18) | (7.71) | (9.70) |
| Net Margin % | (304.2%) | (287.4%) | (333.0%) | (646.3%) | (951.4%) |
| Diluted EPS | -$1.74 | -$1.95 | -$8.86 | -$115.10 | -$148.08 |
| Basic EPS | -$1.74 | -$1.95 | -$8.86 | -$115.10 | -$148.08 |
| Diluted Avg Shares | 5.3 | 3.3 | 0.7 | 0.1 | 0.1 |
| Basic Avg Shares | 5.3 | 3.3 | 0.7 | 0.1 | 0.1 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Cash & Equivalents | 6.80 | 7.58 | 7.28 | 6.05 |
| Receivables | 0.16 | 0.20 | 0.45 | 0.47 |
| Inventory | 1.05 | 0.99 | 0.77 | 0.71 |
| Total Current Assets | 8.35 | 10.06 | 11.78 | 7.47 |
| Net PPE | 0.38 | 0.41 | 0.43 | 0.42 |
| Total Assets | 11.06 | 12.84 | 14.62 | 10.37 |
| Accounts Payable | 0.12 | 0.18 | 0.24 | 0.12 |
| Total Current Liabilities | 0.94 | 0.80 | 0.75 | 0.81 |
| Total Liabilities | 3.36 | 3.27 | 3.28 | 3.39 |
| Retained Earnings | (144.54) | (142.48) | (140.68) | (139.38) |
| Total Equity | 7.70 | 9.57 | 11.35 | 6.98 |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Cash & Equivalents | 6.80 | 7.58 | 1.31 | 5.39 | 4.78 |
| Receivables | 0.16 | 0.20 | 0.34 | 0.10 | 0.11 |
| Inventory | 1.05 | 0.99 | 0.79 | 0.80 | 0.85 |
| Total Current Assets | 8.35 | 10.06 | 2.81 | 6.67 | 6.12 |
| Net PPE | 0.38 | 0.41 | 0.41 | 0.39 | 0.29 |
| Total Assets | 11.06 | 12.84 | 3.28 | 7.29 | 6.78 |
| Accounts Payable | 0.12 | 0.18 | 0.21 | 0.15 | 0.54 |
| Total Current Liabilities | 0.94 | 0.80 | 0.56 | 0.79 | 1.32 |
| Total Liabilities | 3.36 | 3.27 | 0.77 | 0.94 | 1.50 |
| Retained Earnings | (144.54) | (142.48) | (136.10) | (129.91) | (122.20) |
| Total Equity | 7.70 | 9.57 | 2.51 | 6.35 | 5.28 |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Net Income | (2.06) | (1.80) | (1.30) | (1.62) |
| D&A | 0.03 | 0.03 | 0.03 | 0.04 |
| Stock-Based Comp | 0.02 | 0.04 | 0.05 | 0.09 |
| Operating Cash Flow | (1.93) | (1.66) | (1.38) | (1.15) |
| CapEx | 0.00 | (0.01) | (0.04) | (0.05) |
| Investing Cash Flow | 1.00 | 1.99 | (3.01) | (0.05) |
| Stock Issuance | 0.17 | 0.00 | 0.00 | 1.64 |
| Financing Cash Flow | 0.16 | (0.03) | 5.61 | 5.60 |
| Free Cash Flow | (1.93) | (1.68) | (1.42) | (1.20) |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Net Income | (6.78) | (6.38) | (6.18) | (7.71) | (9.70) |
| D&A | 0.13 | 0.14 | 0.16 | 0.14 | 0.18 |
| Stock-Based Comp | 0.20 | 0.26 | 0.33 | 0.56 | 0.71 |
| Operating Cash Flow | (6.12) | (5.75) | (6.03) | (7.57) | (8.58) |
| CapEx | (0.10) | (0.14) | (0.08) | (0.15) | (0.17) |
| Investing Cash Flow | (0.07) | (1.10) | (0.06) | (0.15) | (0.17) |
| Stock Issuance | 1.81 | 2.71 | 0.04 | 5.41 | 4.23 |
| Financing Cash Flow | 11.34 | 13.12 | 2.00 | 8.34 | 4.20 |
| Free Cash Flow | (6.22) | (5.89) | (6.12) | (7.71) | (8.75) |
| 3/31/26 | 12/31/25 | 9/30/25 | 6/30/25 | |
|---|---|---|---|---|
| Current Ratio | 8.91 | 12.61 | 15.75 | 9.23 |
| Quick Ratio | 7.79 | 11.36 | 14.73 | 8.35 |
| Debt / Equity | 0.44 | 0.34 | 0.29 | 0.49 |
| EBITDA Margin % | (423.5%) | (439.2%) | (191.0%) | (252.6%) |
| Working Capital | 7.42 | 9.26 | 11.03 | 6.66 |
| Net Debt | — | — | — | — |
| ROE % | (26.8%) | (18.9%) | (11.4%) | (23.2%) |
| ROA % | (18.6%) | (14.0%) | (8.9%) | (15.6%) |
| LTM | 12/31/25 | 12/31/24 | 12/31/23 | 12/31/22 | |
|---|---|---|---|---|---|
| Current Ratio | 8.91 | 12.61 | 5.01 | 8.49 | 4.62 |
| Quick Ratio | 7.79 | 11.36 | 3.60 | 7.48 | 3.98 |
| Debt / Equity | 0.44 | 0.34 | 0.31 | 0.15 | 0.28 |
| EBITDA Margin % | (306.6%) | (286.8%) | (328.1%) | (636.8%) | (931.4%) |
| Working Capital | 7.42 | 9.26 | 2.25 | 5.89 | 4.79 |
| Net Debt | — | — | — | — | — |
| ROE % | (88.1%) | (66.7%) | (246.3%) | (121.4%) | (183.7%) |
| ROA % | (61.3%) | (49.7%) | (188.7%) | (105.7%) | (143.0%) |
Insider activity (last 2 years)
| Date Filed | Reporter | Relationship | Trans. Date | Code | Shares | Price | Total Value |
|---|---|---|---|---|---|---|---|
| 2026-05-18 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-05-18 | P | 10,000 | $1.59 | $15,878 |
| 2026-05-18 | Edell Michael | Director, Officer (Chief Executive Officer) | 2026-05-15 | P | 1,000 | $1.61 | $1,615 |
| 2026-05-18 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-05-15 | P | 7,120 | $1.65 | $11,747 |
| 2026-05-18 | Edell Michael | Director, Officer (Chief Executive Officer) | 2026-05-14 | P | 2,000 | $1.70 | $3,398 |
| 2026-05-18 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-05-14 | P | 15,000 | $1.72 | $25,862 |
| 2026-04-30 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-04-28 | P | 3,000 | $1.47 | $4,407 |
| 2026-03-17 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-03-17 | P | 19,725 | $1.79 | $35,355 |
| 2026-03-17 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-03-16 | P | 5,060 | $1.86 | $9,392 |
| 2026-03-17 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-03-13 | P | 146,249 | $1.95 | $285,434 |
| 2026-02-19 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-02-19 | P | 34,613 | $2.40 | $83,140 |
| 2026-02-19 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-02-18 | P | 10,481 | $2.29 | $24,001 |
| 2026-02-19 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-02-17 | P | 40,807 | $2.29 | $93,493 |
| 2026-02-13 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-02-13 | P | 15,390 | $1.89 | $29,106 |
| 2026-02-13 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-02-12 | P | 7,956 | $1.72 | $13,688 |
| 2026-02-13 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-02-11 | P | 8,000 | $1.73 | $13,874 |
| 2026-02-06 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-02-05 | P | 2,884 | $1.77 | $5,106 |
| 2026-02-06 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-02-04 | P | 5,685 | $1.82 | $10,373 |
| 2026-02-03 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-02-02 | P | 42,739 | $1.98 | $84,418 |
| 2026-02-03 | GLENBROOK CAPITAL MANAGEMENT | 10% Owner | 2026-01-30 | P | 5,399 | $1.87 | $10,106 |
| 2025-11-19 | Leach Jacob Steven | Director | 2025-11-18 | S | (62) | $2.71 | -$168 |
| 2025-11-17 | Szot Matthew K | Director | 2025-11-14 | S | (1) | $2.75 | -$3 |
| 2025-01-10 | Moss Joshua Matthew | Director | 2025-01-08 | A | 8,057 | — | $0 |
| 2024-08-28 | Leach Jacob Steven | Director | 2024-08-27 | A | 23,894 | — | $0 |
| 2024-08-28 | Grandinetti Phillip Nicholas III | Director | 2024-08-27 | A | 14,672 | — | $0 |
| 2024-08-28 | Szot Matthew K | Director | 2024-08-27 | A | 12,090 | — | $0 |
| 2024-08-28 | Morrison Jamie Bechtel | Director | 2024-08-27 | A | 12,090 | — | $0 |
| 2024-08-28 | CHESTERMAN THOMAS C | Officer (CFO & Treasurer) | 2024-08-27 | A | 24,170 | — | $0 |
| 2024-08-28 | Fruendt Joel Lee | Director, Officer (Chief Executive Officer) | 2024-08-27 | A | 56,396 | — | $0 |