What caused SNES's earnings surprises in 2023?

SenesTech (SNES) experienced a net income surprise of -$7.71 million for the quarter ending December 31, 2023. The company's earnings have been negatively impacted by several factors:

|code|Ticker|Name|Date|Net Income|market_code|
|---|---|---|---|---|---|
|SNES|SNES.O|SenesTech|2023 Q1|-2037000|186|
|SNES|SNES.O|SenesTech|2023 Q2|-1993000|186|
|SNES|SNES.O|SenesTech|2023 Q3|-1947000|186|
|SNES|SNES.O|SenesTech|2023 Q4|-1733000|186|

1. **Revenue Concentration and Growth Challenges**: SenesTech's revenue has been concentrated in a few key market segments, including government verticals, zoos, and animal sanctuaries, as well as agribusiness. While the company has seen growth in these areas, the majority of its revenue comes from a relatively small number of customers, which poses a risk to overall growth and stability.
2. **Operational Inefficiencies and High Expenses**: The company's high expenses, particularly in research and development, have been a significant burden on its financial performance. Despite efforts to improve operational efficiencies, the company's net loss improved by only almost $700,000 in the third quarter of 2023, indicating that there is still a long way to go to achieve profitability.

In summary, SenesTech's earnings surprises in 2023 have been largely driven by revenue concentration and growth challenges, as well as operational inefficiencies and high expenses.