SenesTech, Inc. Common Stock Lytham Partners 2026 Consumer & Technology Investor Summit

All right. Hello everyone, and welcome to the SenesTech Fireside Chat. My name is Robert Blum, managing partner here at Lytham Partners. Up next, I will be moderating a Q&A discussion with Michael Edell, the Chief Executive Officer at SenesTech. Quick reminder, the company trades under the ticker symbol SNES on the Nasdaq. Let's get started. Michael, welcome.

Thank you. Good to be here.

Fantastic. For investors who may be new to the company, give sort of a real quick 30-second high level about the business. Maybe more importantly, it has been about a quarter since you took over as CEO, and maybe just under 200 days or so since you sort of first Yeah hopped into the company.

Describe sort of the transformation that has taken place since you arrived.

Well, as you mentioned, it's been less than, I think, 90 days since I took over as CEO, and a total, since I was COO, about less than 200 days all in. Within that timeframe, there's a number of things that we have accomplished in such a short window. What have we built? We've defined and implemented a whole new corporate strategy, moving the company forward. We've strengthened our leadership team. As you were aware, we brought on Jack Karabees, who's our Executive Vice President of Sales, and he started just July 1st, heading up the B2B efforts. We built out all of the processes and methodologies as well as the accountability for execution. We defined and prioritized the eight strategic B2B verticals that we're going after and how we're going to focus on those. We've implemented the B2B sales methodology.

We've completely rebuilt our e-commerce strategy by bringing those operations in-house, and you saw from Q2 some of the results at just the very beginning of that effort. We introduced our assessment and implementation services. We formalized a lot of that, and we've already launched that in July. We've advanced new product development initiatives with products that support the assessment services, and we've done all of that just in the last 200 days. Now, the results from those efforts were, as you saw in the quarterly report, a record quarterly revenue, record e-commerce revenue, record gross profit, record gross margins, record Amazon sales, and we nearly tripled the e-commerce revenue, and nearly doubled the subscription revenue.

We reduced through this process, which is where the real magic is, we're reducing the monthly cash usage and extending our runway, and we're continuing the progress toward increasing the monthly run rate and having visibility to the company becoming cashflow break even. So all of that was done in just 200 days.

That was sort of a perfect high level overview, so let's dive into almost each one of those items that you just mentioned there.

Yeah. Let's start on Amazon, right?

You brought Amazon fully in-house earlier this year. What specific changes have driven this improvement in the revenues, the orders, subscriptions, customer conversion?

Well, when you manage your own brand and you are doing brand building, you can control the message and what is being communicated to the consumer, to the customer. But also as important, what you can do is you could take advantage of how you are going to be able to grow your market spend and still be able to acquire customers profitably, and then determine really how big of a market, how big can you grow that channel. E-commerce, unlike other companies that may just spend for spending's sake just to drive revenues, we only are going to spend based on growing that channel, continuing to grow it profitably.

What are the metrics that you are looking at to understand the ability to grow that, as you said, profitably?

Well, some of the key metrics that we have to look at are how much money that you spend and what is the return on that investment. You are looking at your ROAS, you are looking at your average order size on the various platforms, and then you are looking at how much of that business converts into subscription revenue long term.

How are you balancing the spend, the pricing, the promotions, growing that, but doing so without sacrificing, the economics that you are referring to here?