Semler Scientific, Inc. Q2 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: $14.8 million, up 4% year-over-year from $14.3 million in Q2 2021.
  • Fixed Fee Revenue: $8.5 million, increased 12% YoY.
  • Variable Fee Revenue: $6 million, decreased 8% YoY due to strong Q2 2021 comparables driven by pandemic-related timing shifts in customer testing.
  • Equipment & Other Revenue: $300,000, increased 40% YoY.
  • Net Income: $4.1 million, down 39% YoY from $6.7 million in Q2 2021.
  • EPS: $0.51 per diluted share, down from $0.83 per diluted share in Q2 2021.
  • Operating Expenses: $9.6 million, up 23% YoY due to increased headcount, wage inflation, higher insurance and professional fees, and expiration of pandemic-related tax credits.
  • Cash Position: $40 million in cash and equivalents at quarter-end.
  • Share Repurchase: Repurchased 99,000 shares ($2.8 million) at an average of $28.75/share; $17 million remains authorized for future repurchases.

Guidance & Outlook

  • FY22 Revenue: Maintained at $58–$60 million.
  • Operating Expenses: Revised lower to $42.5–$44 million (previously $44–$46 million).

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Operator: Good afternoon, and welcome to the Semler Scientific Second Quarter 2022 Financial Results Conference Call. . I would now like to introduce Doug Murphy-Chutorian, CEO of Semler Scientific. Please go ahead. Douglas Murphy-Chutorian: Good afternoon, everyone. Thank you for joining us for our second quarter 2022 results call. It is my pleasure to introduce you to Renae Cormier, who joined Semler in May as Head of Corporate Communication and Business Strategy. Renae has had extensive experience in finance and accounting and was most recently on the buy side. Some of you have had the opportunity to speak to her already. Please welcome Renae. Renae Cormier: Thank you, Doug. Good afternoon, and thank you for joining us today. I'm excited to be here and looking forward to engaging with the investment community and our shareholders. In addition to Doug, with me today is Andy Weinstein, SVP, Finance and Accounting. Dennis Rosenberg could not join us today because he is battling COVID. We wish him a speedy recovery. Doug, Andy and I will be available for Q&A following today's prepared remarks. Before we begin, I need to remind you that certain comments made during this call may constitute forward-looking statements and are made pursuant to and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 as amended. These include statements regarding our expectations for expansion of our business and additional products as well as o

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