Semler Scientific, Inc. Q2 FY2024 Earnings Call
· Earnings call transcript and AI-powered summary
Financial Highlights
- Total Revenue: $14.5 million in Q2 2024, down 22% year-over-year vs. Q2 2023's $18.6 million. Similar cadence expected for remainder of 2024, with H1 outperforming H2.
- Operating Expenses: $9.1 million, a 20% decrease YoY, reflecting cost controls.
- Income from Operations: $5.4 million, down from $7.2 million in Q2 2023.
- Net Income: $0 per share (both basic and diluted) compared to $0.88 basic and $0.75 diluted per share in Q2 2023.
- Cash Generation: Approximately $5 million in Q2 2024; ended Q2 with $7.5 million in cash, cash equivalents, and restricted cash.
Bitcoin Treasury Strategy
- As of August 5th, 2024, Semler holds 929 bitcoins purchased for $63 million.
- Bitcoin adopted as Semler's primary treasury reserve asset in May 2024.
- Bitcoin viewed as a strategic store of value akin to "digital gold," with long-term upside potential due to scarce supply and increasing institutional adoption.
- No plans to acquire cryptocurrencies other than bitcoin.
- Operating cash flow and potential equity proceeds will be directed toward further bitcoin purchases.
Core Business / Product Update
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