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Semler Scientific, Inc. (SMLR) Q3 2024 Earnings Call Transcript Summary

Futu News ·  Nov 5 09:02  · Conference Call

The following is a summary of the Semler Scientific, Inc. (SMLR) Q3 2024 Earnings Call Transcript:

Financial Performance:

  • Q3 2024 total revenues were $13.5 million, down approximately 17% from Q3 2023.

  • Operating expenses decreased by 16% year-over-year to $8.4 million.

  • Income from operations was $5.1 million, down from $6.3 million in the previous year, and net income was $5.6 million, slightly up from $5.5 million in Q3 2023.

  • Semler reported earnings per share of $0.80 per basic and $0.72 per fully diluted share.

Business Progress:

  • Semler is expanding its core medical product offerings and advancing research, particularly with its QuantaFlo device aimed at diagnosing peripheral arterial disease (PAD).

  • The company is advancing towards obtaining 510(k) clearance for an extension to QuantaFlo, expected in the first half of 2025.

  • Semler continues to expand its customer base by targeting new medical centers and markets that will benefit from PAD testing.

Opportunities:

  • Semler is harnessing its strong operating cash flow and equity issuances for an aggressive Bitcoin acquisition strategy, leveraging its balance sheet to target outsized returns.

  • The company is exploring a wide range of financing options to raise more cash to acquire Bitcoin even more aggressively.

Risks:

  • An inherent risk associated with high reliance on a small number of customers was noted, with two customers representing 73% of quarterly revenues.

  • The Bitcoin investment strategy introduces potential volatility in reported net income due to fair value adjustments of Bitcoin holdings.

Tips: For more comprehensive details, please refer to the IR website. The article is only for investors' reference without any guidance or recommendation suggestions.

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