Semler Scientific, Inc. Q3 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Semler Scientific Q3 2021 Earnings Summary

  • Revenue: Q3 2021 revenue was $14.0 million, a 30% increase compared to $10.7 million in Q3 2020. Year-to-date revenue reached $41.5 million, up 56% from $26.5 million for the same period in 2020.
  • Profitability:
    • Q3 2021 net income was $4.2 million, down 15% from $4.9 million in Q3 2020.
    • Year-to-date net income climbed to $15.7 million, up 82% from $8.6 million in the prior year period.
    • Net income per basic share was $0.61 (vs. $0.74 in Q3 2020), and $0.51 per diluted share (vs. $0.61).
  • Operating Expenses: Q3 2021 operating expenses increased 69% YoY to $8.7 million, primarily due to increased headcount (119 vs. 76 YoY).
  • Cash & Liquidity: Semler ended Q3 with a record cash position of $35.9 million, up $19.1 million YoY. Stockholders' equity totaled $44 million.
  • Revenue Breakdown:
    • Fixed fee software license revenue: $7.8 million (up 24% YoY).
    • Variable fee software license revenue: $5.8 million (up 43% YoY).
    • Equipment and other sales: $300,000 (flat YoY).
  • Customer Concentration: Two largest customers comprised 40% and 28% of Q3 revenue, respectively.

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Operator: Good day, and welcome to the Semler Scientific Third Quarter 2021 Financial Results Conference Call. All participants will be in a 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 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 in 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 this presentation - 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 and these forward-looking statements. I w

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