SenesTech exits going-concern status after $13M equity raise; Evolve drives 20% revenue growth

Filed March 13, 2026 · Period ending December 31, 2025 · Compared to 10-K Mar 13, 2025 · ~2 min read

Key Changes

• high

  Auditor removed going-concern qualification after company raised $13.2M in equity during 2025, extending cash runway from 3 months to Q2 2027. Cash and investments increased from $1.3M to $8.6M year-over-year.

  Notes: Going Concern & Liquidity view on EDGAR →
• high

  Revenue grew 20% to $2.2M, with Evolve products now representing 81% of sales (up from 66% prior year). Gross margin expanded 840 basis points to 62.5% as product mix shifted toward higher-margin Evolve line.

  MD&A: Revenue & Margins verify on EDGAR →
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  Company filed U.S. patent application for Evolve composition covering low-dose gossypol formulations, with protection through 2044 if issued. Filing addresses competitive risk from ingredient-disclosure requirements under Section 25(b) exemption.

  Business: Intellectual Property verify on EDGAR →