SenesTech, Inc. (NASDAQ:SNES) Q2 2020 Earnings Conference Call - Final Transcript

Aug 12, 2020 • 05:00 pm ET


SenesTech, Inc. (NASDAQ:SNES) Q2 2020 Earnings Conference Call - Final Transcript


Loading Event

Loading Transcript


Good day, and welcome to the SenesTech, Inc. Second Quarter Fiscal Year 2020 Financial Results. [Operator Instructions] I would now like to turn the conference over to Robert Blum with Lytham Partners. Please go ahead, sir.

Robert Blum

Thanks so much, Cole, and thank you all for joining us today. On today's call, we will discuss SenesTech's second quarter 2020 financial results for the period ended June 30, 2020.

With us on the call today are Mr. Ken Siegel, the Company's Chief Executive Officer; and Mr. Tom Chesterman, the Company's Chief Financial Officer. At the conclusion of today's prepared remarks, we will open the call for a question-and-answer session.

Before we begin with prepared remarks, we submit for the record the following statement. Statements made by the management team of SenesTech during the course of this conference call may contain forward-looking statements within the meaning of Section 27A of the Securities Act of 1933, as amended, and Section 21E of the Securities Exchange Act of 1934, as amended, and such forward-looking statements are made pursuant to the safe harbor provisions of the Private Securities Litigation Reform Act of 1995. Forward-looking statements describe future expectations, plans, results or strategies and are generally preceded by words such as may, future, plan or planned, will or should, expected, anticipates, draft, eventually or projected.

Listeners are cautioned that such statements are subject to a multitude of risks and uncertainties that could cause future circumstances, events or results to differ materially from those projected in the forward-looking statements, including the risks that actual results may differ materially from those projected in the forward-looking statements as a result of various factors and other risks identified in our filings with the Securities and Exchange Commission.

All forward-looking statements contained during this conference call speak only as of the date in which they were made, and are based on management's assumptions and estimates as of such date. The Company does not undertake any obligation to publicly update any forward-looking statements, whether as a result of the receipt of new information, the occurrence of future events or otherwise.

With that said, let me turn the call over to Ken Siegel, Chief Executive Officer of SenesTech. Ken, please proceed.

Kenneth Siegel

Great. Thank you, Robert. Good afternoon, everyone. Thanks for joining us. I hope you're all doing well in these very trying times. Despite the severe headwinds caused by COVID-19 and the economic downturn, SenesTech continues to make slow and steady progress. Tom will discuss the numbers with you shortly, but I'm pleased to say that we continue to show quarter-over-quarter growth despite the economic strain in our commercial and governmental verticals.

Second quarter marked our highest revenue quarter over the past six quarters. Although the numbers are still small, we are seeing continued expansion in new accounts and gradual acceptance of our monthly subscription model.

The second quarter marks the end of my first year at SenesTech. I want to share with you some of my learnings over the past year, and hopefully give