Revenue +20% to $2.2M in FY2025. Gross margin expanded 840 basis points to 62.5%. E-commerce revenue +88%; now more than half of total. Active deployments in NYC, Chicago, Boston, Baltimore, LA County, and San Francisco.
SenesTech makes rat birth control. Not poison. A liquid bait that makes rats unable to reproduce, so the population slowly declines without killing anything. NYC, Chicago, LA, Boston, San Francisco, and Baltimore are all paying for it right now. It's EPA-registered, which means no generic can just copy it without years of their own registration. Revenue is growing 20% a year and the cities keep renewing. Small company, real customers, real recurring contracts.
Watch the active municipal contract count in each quarterly filing; the specific metric that signals whether the institutional base is compounding. Watch whether e-commerce revenue continues above 50% of total revenue. Gross margin above 60% confirms the unit economics are improving.