All right. Hello, everyone, and thank you for continuing to join us throughout the day here at the Lytham Partners Spring 2026 Investor Conference. Again, my name is Robert Blum, Managing Partner here at Lytham. Up next here, we welcome SenesTech and the company's Chief Executive Officer, Michael Edell. As a reminder, SenesTech trades under the ticker symbol SNES on the Nasdaq. During this session here, we're going to conduct this as a fireside chat. Michael, thank you so much for your participation. Yeah. Thank you, Robert. Good to be here. Fantastic. For those less familiar, you recently became CEO. What attracted you to SenesTech, and why did you decide this was the right company for you to lead? Having been in consumer products companies in the past that are both in B2B and direct-to-consumer, one of the things I first noticed about this company was the mission that they were on to really change this category in pest management. Once I found out that it was a patented product with no direct competitor in the market, it became very, very intriguing to me, because I'm used to having a lot of competition in the markets that I've been in. This one had a little bit of a different twist to it with a product that we know works. It's a very, very large market, and nobody's been addressing this particular challenge. Yep. Talk a little bit more about your background and again, why it sort of suits exactly where SenesTech is at this stage right now. Well, I have over 25 years in consumer products, and that's building, designing, launching brands both on Amazon and Shopify and brick-and-mortar on the B2B side of it. This brand, this company, just really was interesting to me in terms of what we thought the scope and scale could be. At a high level, talk about what that growth strategy is for you and moving SenesTech forward here. Well, historically, the strategy had been leading with B2B, because that's a very big market for us. The challenges that we were running into is that the brand awareness and the brand recognition wasn't exactly where it needed to be to really drive some of these other categories and verticals. One of the first things I did is flip that to leading with direct to consumer, getting the brand awareness really moving along in the right direction, and then following it in with B2B in very, very targeted verticals. One of the, I think the biggest changes that you talked about in the most recent conference call has been bringing Amazon, the management of the Amazon distribution there in-house for D2C. Talk about why that's important? Talk about some of the benefits to the company here? The first benefit is what I wanted to bring to the company is control of our data, our analytics, and our customer. We want to control the brand message and control how this information's being conveyed into the market, because it just wasn't handled the way that we thought would maximize these different channels. By bringing Amazon in first, we were able to really control the message, update all of the communication with our customers so that they could set the proper expectation of proper usage of the product and where it best serves, where it fits. That messaging and that strategy is moving across all of the channels that we're talking to now. Maybe expand a little bit there on the D2C, right? There's the Amazon side of the equation, and there's the company's own website, sort of the Shopify. Help people just understand the connection between those two. Well, you want to be where the consumer is going to be, right? You want to reduce consumer or customer friction on buying. You want to be wherever they're going to shop. The other thing that was critical for us is I've really shifted the business and the online parts to have a big focus on recurring revenue, the subscription parts of the business. What that does is that demonstrates the stickiness of the brand, because subscriptions only grow if the product is working. It's fair to say that subscriptions are going to be a major focus of the company going forward here. Yeah. We're already seeing incredible results just in the six to eight weeks that we've brought just the Amazon part of the business in-house. You'll be seeing a lot of change also on our own website, our direct-to-consumer website, as that gets relaunched and rebranded over the next quarter or so. Sort of transitioning from D2C to the B2B side, as you said, you're sort of flipping that. How do you think about B2B growth, especially within municipalities, the PMPs, the pest management professionals, and just sort of the broader commercial customer base? Well, I think one of the things that we've done is we've revamped that whole approach to the B2B. What we have to do is for pest management, we have to be part of an overall solution. We can't be or try to become the only solution. You want to be part of the community and part of the offering so that the consumer can pick and choose which products they wish to deploy to solve their particular problem. In other channels or other verticals, like municipalities, like government, like zoo, agriculture, each one of those channels has its own message, but you have to come up with a program of whether it's a return on investment to an ag or a food processor, to how can a pest management company make this a revenue center, a service offering to their consumers so that they're actually able to drive a large program to their particular customers. Those programs and this approach being very vertical focused in the messaging, we don't want to approach it as one size fits all, and we're redoing all of that messaging as we speak. On that topic of sort of remessaging, there's been updates or there will be updates to the website, going back to the D2C side. You have updated some of the packaging. Talk about if there's a list of activities that are sort of going on behind the scenes here that are going to hopefully make a sizable investment here in the future. I think one of the very first things is proper messaging and setting of expectations. Now that we're doing more work, the new packaging, which people can see online, if you go to Amazon or on our website, you'll see the old and the new packaging as we transition. Message is much, much clearer, setting the proper expectation of what consumers on how to deploy, but also what to expect and in what timeframe. I think the other things, as you look at the different verticals, that packaging and the messaging is going to support those efforts. Brick and mortar retail, they want to bring in product, put it on shelf, that people are looking for. You want, as this brand awareness and the proper messaging gets out there into the market, it's going to make it easier and easier for people to move this product, whether it's on shelf or a distributor or a pest management company or online partners. It's just going to make it easier across the board. All of that work in the back end is being done, and you're going to see more and more of it. You're going to see more and more of it in social media, in PR, in packaging. You're going to be seeing just across the board in a pretty short order. Thanks. One of the things that you've made statements about in the past is not all revenue is equal, right? Right. You've made tremendous strides in terms of increasing gross margins. I think last quarter, gross margins were a record. Yeah. Just talk a little bit about how you think about growing the business and sort of reaching that inflection point of profitability. Well, the first goal, you have to focus on revenue, and that only comes about through execution, right? Revenue solves problems, because you're not going to solve it overnight. What you need to do is you want to build your revenues in a profitable manner so that the world can see that you're moving and slowly reducing your burn over time, and in a consistent and a sustainable manner. That's why recurring revenue is very valuable to consumer products companies. As that builds, that becomes a larger piece as a percentage of your business, so that when you go into your next month, it's not a mystery to you on how you're going to be performing at a minimum. There's some numbers you're going to know going in based on the data. Right. I know we have still a few minutes left here, so I want to maybe just touch on one topic that's sort of very timely, which is the hantavirus, right? Yeah. What can you sort of share with the audience here as it relates to the company? I think any of these news articles and news and releases that are coming out related to rodent and infestations and rodent problems, the bottom line is that as you reduce the population of these pests, all of the other challenges that you're facing are also going to be reduced. We don't really specifically talk to a particular infestation or a particular virus or a particular challenge that's going on. We like to just simply say, if you want to have a solution that is going to solve the long-term problem, that you don't want this problem coming back, that you want to solve over a longer period of time, then our product is a real good solution for that. All right, excellent. In the final couple of minutes here, what is it that investors should expect, sort of the company focus on the commercial execution, accountability, measurable progress. What should they expect from a Michael Edell-led company? You can expect accountability, with a capital A. The information you're going to hear is going to be based on data and analytics and information we're getting back so that we can properly convey the message to the street. Storytelling is great, you really want a solid foundation, a sustainable business. You want repeatable sales on B2B. You want recurring and subscription business on the D2C side of it. It's just really looking forward and just being consistent and demonstrating performance. We want the consumer to understand as we talk about different programs we're in, it's not about a pilot. Pilots, we don't even need to talk about pilots because we know the product works. It's more about deployment now. Let's get the product into these particular verticals and markets and deploy and execute. That's the message that I want the street to understand that's going to be different on a go forward basis. All right, very good. Well, we are up against the end of the time here. Michael, thank you so much for your participation here in the conference. Thank you to everybody, of course, for watching. As always, if you'd like to schedule a meeting with management, shoot me an email. That's Blum, B-L-U-M, @lythampartners.com. Of course, to learn more about Lytham, make sure you visit our website or stay connected with us on LinkedIn. We hope you all enjoy the conference here. Michael, again, thanks so much for your time. Yeah, Robert, thank you. Thanks for hosting.