SenesTech makes non-lethal rodent fertility control products that reduce rodent populations by impairing reproduction rather than killing individuals. The company's two products are Evolve, a soft bait launched in January 2024 using cottonseed oil as its active ingredient, and ContraPest, a liquid bait EPA-registered since 2016. Evolve targets both male and female rats and mice by impairing sperm maturation and depleting ovarian follicles, and because it doesn't cause illness, rodents don't develop bait aversion — a key limitation of traditional rodenticides. Evolve is classified as a minimum-risk pesticide under EPA's FIFRA Section 25(b), exempting it from federal registration and enabling use in agriculture and food storage environments. ContraPest, which requires full EPA registration, is declining as customers migrate to Evolve but retains a loyal base in certain applications. SenesTech sells on a per-unit, transactional basis, with customers consuming product continuously as part of ongoing pest management programs, generating repeat orders. E-commerce is the dominant channel, representing more than half of revenue, with Amazon as the leading platform. Other channels include pest management professionals, municipalities, brick-and-mortar retail, agribusiness, and international distributors. Evolve carries materially higher gross margins than ContraPest, reflecting its simpler, lower-cost active ingredient. SenesTech's growth strategy focuses on expanding Evolve adoption across all channels simultaneously, with municipal scale-ups, major retail chain placements, and international regulatory approvals viewed as potential step-change revenue events.
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