Semler Scientific, Inc. Q1 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

  • Record Quarter: The first quarter of 2021 marked the best financial performance in the company’s history.
  • Revenue Growth: Q1 2021 revenues were $13.2 million, a 40% increase from $9.4 million in Q1 2020.
  • Profitability:
    • Pre-tax net income rose by 74% to $6 million (vs. $3.5 million in Q1 2020).
    • Net income increased by 82% to $4.9 million (vs. $2.7 million in Q1 2020).
    • Net income per share: $0.73 (basic) and $0.60 (diluted) compared to $0.41 and $0.33 respectively in Q1 2020.
  • Cash Position: Cash increased to $26.5 million at quarter end.
  • Operating Expenses: Totaled $7.2 million, up 20% from $6 million in Q1 2020, driven partly by headcount growth.
  • Headcount: Increased to 103 employees from 86 in Q4 2020.
  • Product Demand: Higher QuantaFlo usage from existing and new insurance/HRA (health risk assessment) customers.
  • No Plans for Capital Raise: Company stated no current plans to raise capital or engage in share buybacks/dividends.

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Operator: Good day and welcome to the Semler Scientific First Quarter 2021 Financial Results Conference Call. Please note this event is being recorded. Before we begin, Semler Scientific would like to remind you that this conference call 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 risks include continued uncertainty due to the evolving COVID-19 pandemic, risks associated with Semler Scientific’s recent investments and entities with potential complementary products and new distribution arrangements 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 results in these forward-looking statements. Doug Murphy-Chutorian: Good afternoon, everybody, and thank you for joining us today for our first quarter results call. I would like to introduce you t

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