Q3 FY2026
Filed Nov 10, 2026SenesTech reports record Q3 2026 revenue of $1.097 million, up 59% year over year, while the net loss widened to $(1,956) thousand
Revenue, gross profit and gross margin set records and the operating cash burn narrowed each quarter of 2026. Against that, the GAAP net loss and operating loss widened year over year, operating expenses rose sharply, and cash fell to $3,951 thousand at September 30, 2026. The filing gives no guidance.
Key metrics
shortened, hover for the filing’s print| Metric | Value | q/q | y/y |
|---|---|---|---|
| Total revenue, Q3 2026GAAP | $1.10M | 42% | 59% |
| Total revenue, nine months 2026GAAP | $2.36M | – | – |
| Evolve revenue, Q3 2026other | $979,000 | – | 67% |
| ContraPest revenue, Q3 2026other | $118,000 | – | 13% |
| E-commerce share of total revenue, Q3 2026other | approximately 71% | – | – |
| Gross profit, Q3 2026GAAP | $796,000 | 40% | 84% |
| Gross profit, nine months 2026GAAP | $1.70M | – | – |
| Gross margin, Q3 2026GAAP | 72.6% | – | – |
| Cost of sales, Q3 2026GAAP | $301K | – | – |
| Cost of sales, nine months 2026GAAP | $659K | – | – |
| Research and development, Q3 2026GAAP | $418K | – | – |
| Research and development, nine months 2026GAAP | $1.22M | – | – |
| Sales and marketing, Q3 2026GAAP | $1.08M | – | – |
| Sales and marketing, nine months 2026GAAP | $2.22M | – | – |
| General and administrative, Q3 2026GAAP | $1.29M | – | – |
| General and administrative, nine months 2026GAAP | $4.24M | – | – |
| Total operating expenses, Q3 2026GAAP | $2.79M | – | – |
| Total operating expenses, nine months 2026GAAP | $7.67M | – | – |
| Loss from operations, Q3 2026GAAP | −$1.99M | – | – |
| Loss from operations, nine months 2026GAAP | −$5.97M | – | – |
| Interest income, net, Q3 2026GAAP | $35K | – | – |
| Interest income, net, nine months 2026GAAP | $121K | – | – |
| Net loss, Q3 2026GAAP | −$1.96M | – | – |
| Net loss, nine months 2026GAAP | −$5.85M | – | – |
| Loss per share, basic and diluted, Q3 2026GAAP | $(0.36) | – | – |
| Loss per share, basic and diluted, nine months 2026GAAP | $(1.10) | – | – |
| Adjusted EBITDA loss, Q3 2026non-GAAP | −$1.43M | – | – |
| Adjusted EBITDA loss, nine months 2026non-GAAP | −$4.38M | – | – |
| Net cash used in operating activities, Q3 2026GAAP | −$1.32M | – | – |
| Net cash used in operating activities, nine months 2026GAAP | −$4.96M | – | – |
Segments
| Segment | Revenue | q/q | y/y |
|---|---|---|---|
| E-commerceThe CEO attributes the sequential growth to another record quarter on Amazon. The release also cites the addition of Grove Collaborative as a third-party e-commerce channel. | Dollar amount not printed; approximately 71% of total Q3 2026 revenue | 52% | 337% |
| Subscriptions (Amazon and company website)Combined subscribers across Amazon and the Company's website increased 72% compared to Q2 2026. | Dollar amount not printed; subscription revenue growth only | 53% | 234% |
| Direct B2BThe release says sequential growth was driven by process changes to the Company's B2B efforts, which drove growth in the pest management, government and commercial verticals. The B2B sales team was expanded to four salespeople, with two more hires expected by year end. | Dollar amount not printed; direct B2B revenue growth only | 19% | 2% |
| EvolveEvolve represented 89% of product revenue in Q3 2026. The release does not state a driver for the growth. | $979,000 | – | 67% |
| ContraPestThe release says the growth was driven by higher refill sales. | $118,000 | – | 13% |
Capital returns
- No dividends or share repurchases are printed in the filing.
- Proceeds from issuances of common stock, net: $227 thousand in Q3 2026 and $400 thousand in the nine months 2026, versus no Q3 2025 issuance proceeds and $2,706 thousand in the nine months 2025.
- Proceeds from the exercise of warrants, net: $5,622 thousand in Q3 2025 and $10,482 thousand in the nine months 2025; none in 2026.
What drove it
- The release attributes the sequential Direct B2B revenue growth to process changes in the Company's B2B efforts.
- The release attributes the ContraPest revenue growth to higher refill sales.
- The CEO attributes the sequential e-commerce growth to another record quarter on Amazon.
- The release attributes the Wicker Park Bucktown municipal program's result (88% reduction in average rat activity intensity over 12 months) to the integrated use of the assessment services and Evolve, and reports that Evolve has expanded to six Chicago-area Special Service Areas and wards.
- The CFO states that sales and marketing has grown as a share of operating expenses compared to Q3 2025, while general and administrative spending has declined as a share, excluding non-cash items.
- Operating expense growth in the quarter is shown on the statement of operations: sales and marketing rose from $425 thousand to $1,082 thousand year over year.
Concerns
- GAAP net loss widened to $(1,956) thousand in Q3 2026 from $(1,298) thousand in Q3 2025, and loss from operations widened to $(1,991) thousand from $(1,347) thousand.
- Total operating expenses rose to $2,787 thousand from $1,780 thousand year over year, with sales and marketing up to $1,082 thousand from $425 thousand.
- Cash and cash equivalents fell to $3,951 thousand at September 30, 2026, and net cash used in operating activities was $(4,960) thousand for the nine months 2026.
- Total stockholders' equity declined to $4,598 thousand from $9,568 thousand at December 31, 2025.
- The safe harbor statement lists the Company's history of losses, its need for additional capital to fund operations, and its reliance on Amazon and other third-party platforms among risk factors.
- Direct B2B revenue grew only 2% year over year according to the release, against 19% sequential growth.
What to watch
- Whether Q4 2026 revenue continues the e-commerce and subscription growth reported in Q3 2026.
- Direct B2B revenue after the sales team expansion to four salespeople, with two more hires expected by year end.
- Operating expense trend, particularly sales and marketing, given the expanded marketing and branding engagement with Sandstrom Partners.
- Cash balance and operating cash burn, given cash of $3,951 thousand at September 30, 2026.
- Adoption of the new assessment and monitoring services for B2B customers, which the release says are expected to provide an additional revenue opportunity.
- Expansion of municipal adoption of Evolve, following the Chicago and Swampscott results cited in the release.
Balance sheet and cash flow
- Cash and cash equivalents: $3,951 thousand at September 30, 2026, versus $7,575 thousand at December 31, 2025. The release describes a decrease of $1.1 million during Q3 2026 to $4.0 million.
- Net decrease in cash and cash equivalents: $(1,129) thousand in Q3 2026 and $(3,624) thousand in the nine months 2026.
- Short-term investments: none at September 30, 2026 ($994 thousand at December 31, 2025).
- Total assets: $8,143 thousand at September 30, 2026, versus $12,843 thousand at December 31, 2025.
- Total liabilities: $3,545 thousand at September 30, 2026, versus $3,275 thousand at December 31, 2025.
- Total stockholders' equity: $4,598 thousand at September 30, 2026, versus $9,568 thousand at December 31, 2025.
- Accumulated deficit: $(148,331) thousand at September 30, 2026, versus $(142,480) thousand at December 31, 2025.
- Notes payable: current portion $65 thousand and non-current portion $95 thousand at September 30, 2026, shown as separate lines.
- Net cash used in operating activities declined each quarter of 2026: $1.9 million in Q1 2026, $1.7 million in Q2 2026 and $1.3 million in Q3 2026, as stated in the release.
Analysis
SenesTech reported Q3 2026 total revenue of $1.097 million, up 59% from $690,000 in Q3 2025 and up 42% from $770,000 in Q2 2026. The release calls this the second consecutive quarterly revenue record and the first quarter above $1 million. Gross profit reached $796,000 and gross margin was 72.6%, compared with 73.6% in Q2 2026 and 62.8% in Q3 2025. Gross profit rose 84% year over year, so the margin level has moved up while revenue has grown. Nine-month revenue was $2,360 thousand against $1,800 thousand in the prior-year period.
The mix shift is the main reported change in demand. The release states that e-commerce was approximately 71% of Q3 revenue, grew 52% sequentially and 337% year over year, and that combined Amazon and website subscribers rose 72% against Q2 2026. Subscription revenue grew 53% sequentially and 234% year over year. Direct B2B revenue grew 19% sequentially but only 2% year over year. Evolve revenue was $979,000, up 67% year over year and 89% of product revenue, and ContraPest revenue was $118,000, up 13% year over year. The release does not print dollar revenue for the e-commerce, subscription or direct B2B channels.
Costs rose faster than gross profit. Sales and marketing was $1,082 thousand against $425 thousand a year earlier, general and administrative expense was $1,287 thousand against $955 thousand, and total operating expenses were $2,787 thousand against $1,780 thousand. Loss from operations was $(1,991) thousand against $(1,347) thousand, and the GAAP net loss was $(1,956) thousand, or $(0.36) per share, against $(1,298) thousand, or $(0.28) per share. Adjusted EBITDA loss, a non-GAAP measure, was $(1,428) thousand against $(1,140) thousand. The nine-month GAAP net loss was $(5,851) thousand, or $(1.10) per share.
On cash, the release reports net cash used in operating activities of $(1,322) thousand in Q3 2026, down from $(1,379) thousand in Q3 2025 and, per the release text, down from $1.7 million in Q2 2026 and $1.9 million in Q1 2026. Cash and cash equivalents ended the quarter at $3,951 thousand, down from $7,575 thousand at December 31, 2025, and total stockholders' equity was $4,598 thousand. The company raised $227 thousand from common stock issuances in Q3 2026. The filing contains no dividends, buybacks or guidance. The CFO's comments on the share of operating expenses are presented as management commentary, without a printed percentage. The figures to weigh most are the record gross profit alongside the widening operating loss and the lower cash balance.
Management, verbatim
SenesTech delivered a milestone third quarter, exceeding $1 million in quarterly revenue for the first time and setting new records for revenue, gross profit and subscription customers,
Michael Edell, President and Chief Executive Officer, SenesTech, Inc.
Record gross profit of $796,000 and a gross margin of 72.6% highlight the strength of our business model as revenue scales,
Tom Chesterman, Chief Financial Officer, SenesTech, Inc.
Not in the filing
stated, not guessed- No forward guidance or prior-period outlook is provided, so no guidance comparison is possible.
- Dollar revenue for e-commerce, subscription and direct B2B channels is not printed; only percentages and growth rates are given.
- Q2 2026 cost of sales, operating expense lines, operating loss and net loss EPS are not printed in table form.
- Prior-quarter (Q2 2026) gross margin change in basis points is not printed.
- Nine-month gross margin is not printed.
- Year-over-year and sequential changes for most P&L lines are not printed in the release and are left null.
- Balance sheet comparison at September 30, 2025 is not in the filing.
- Cash balance at June 30, 2026 is not printed as a balance sheet figure.
- Share price reaction and consensus estimates are not in the documents.
Written by an AI language model from the company’s SEC earnings filing (Form 8-K Item 2.02, or Form 6-K for a foreign private issuer). Every figure is checked against the filing text, and a metric the filing does not print, or whose value, prior period and change do not add up, is dropped from the metrics. The model can still misread a table, in the metrics or in the text, so check a number in the filing before you rely on it. Consensus estimates, price targets and share-price reactions are not shown because they are not in the filing. AI-generated research, not investment advice.