Semler Scientific, Inc. Q1 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: $14 million for Q1 2022, a 6% increase compared to $13.2 million in Q1 2021. This also represents a 67% sequential increase from Q4 2021.
  • Net Income: $3.4 million, down 31% from $4.9 million in Q1 2021.
  • Cash Position: Ended the quarter with $38.4 million in cash, an increase of $11.9 million year-over-year.
  • EPS: $0.50 per basic share, $0.41 per diluted share (compared to $0.73 and $0.60 respectively in Q1 2021).
  • Major Milestones:
    • Publication of the "Nevada Paper" validating the clinical impact of QuantaFlo for screening peripheral arterial disease (PAD), predicting high correlation with mortality/morbidity.
    • Expansion of QuantaFlo’s capabilities to support identification of another cardiovascular disease (yet to be disclosed), setting the stage for future growth.
  • Revenue Breakdown:
    • Fixed fee software licenses: $7.9 million (up 10% YoY)
    • Variable fee software licenses: $5.8 million (up 3% YoY)
    • Equipment and other sales: $300,000 (unchanged YoY)
  • Expenses: Operating expenses were $10.1 million, up 41% from $7.2 million in Q1 2021, primarily due to increased headcount and loss of CARES Act payroll tax credits.

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Operator: Good day, and welcome to the Semler Scientific First Quarter 2022 Financial Results Conference Call. All participants will be in listen-only mode. After today’s presentation, there will be an opportunity to ask questions. 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 meanings, 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 ongoing COVID-19 pandemic, and more recently the Russian invasion of Ukraine, risks associated with Semler Scientific’s extension of QuantaFlo additional cardiovascular diseases and it's distribution of Insulin Insights as well as 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 results 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 and these forward

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