Semler Scientific, Inc. Q1 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

Semler Scientific Q1 2020 Earnings Summary

  • Record Performance: Q1 2020 marked the best financial quarter in Semler’s history.
  • Revenue: $9.4 million, a 39% increase from $6.8 million in Q1 2019.
  • Pretax Income: $3.5 million, an 86% increase from $1.9 million in Q1 2019.
  • Net Income: $2.7 million, a 44% increase from $1.9 million in Q1 2019.
  • Earnings per Share: $0.41 basic and $0.33 diluted, up from $0.29 basic and $0.23 diluted in Q1 2019.
  • Cash Position: $11.2 million, a 149% increase from $4.5 million as of March 31, 2019.
  • Operating Expenses: $6.0 million, up 22% from $4.9 million in Q1 2019.
  • Customer Concentration: Top two customers represented 46% and 21% of revenues.
  • License Revenue Breakdown: $6.5 million fixed fee, $2.7 million variable fee, $270,000 equipment and other sales.

COVID-19 Impacts & Outlook

  • April 2020 Impact: Fixed fee license revenue declined 4%; variable license revenue dropped by 97% vs. March 2020.

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Operator: Good day, and welcome to the Semler Scientific First Quarter 2020 Financial Results Conference Call. [Operator Instructions] Please note this event is being recorded. Semler Scientific would like to remind you that this conference may contain forward-looking statements. Such statements can be identified by words such as may, will, expect, anticipate, intend, estimate or words with similar meaning, and such statements involve a number of risks and uncertainties that could cause Semler Scientific's actual results to differ materially from those discussed here. These results include uncertainty due to the evolving COVID-19 pandemic, along with other risks associated with Semler Scientific's business. Please note that these forward-looking statements reflect Semler Scientific's opinion only as of the date of this presentation, and it undertakes no obligation to revise or publicly release the result of any revision to these forward-looking statements in light of new information or future events. Please refer to Semler Scientific's SEC filings for a more detailed description of the risk factors that may affect Semler Scientific's result in these forward-looking statements. Now I'd like to introduce Doug Murphy-Chutorian, CEO of Semler Scientific. Please go ahead. Douglas Murphy-Chutorian: Good afternoon, everybody. And thank you for joining the Semler Scientific First Quarter 2020 Financial Results Call. I would like to introduce you to Dennis Rosenberg, our Chief Mark

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