Semler Scientific, Inc. Q3 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

  • Revenue: $14 million in Q3 2022, flat compared to Q3 2021 ($14 million).
  • Revenue Composition:
    • Fixed Fee Revenue: $8.6 million (+10% YoY)
    • Variable Fee Revenue: $4.9 million (-16% YoY)
    • Equipment/Other Revenue: $500,000 (+79% YoY)
  • Operating Expenses: $9.6 million, up 10% YoY (from $8.7 million), driven by increased headcount, wage inflation, insurance, and professional fees.
  • Net Income: $3.7 million (-11% YoY), EPS of $0.46 diluted (vs. $0.51 diluted in Q3 2021)
  • Share Repurchase: 47,500 shares bought for $2 million at an average price of $43.08/share. $15 million remains authorized for repurchase.
  • Cash Position: $45.5 million in cash and cash equivalents.
  • Headcount: 124 employees as of September 30, 2022 (up from 121 in Q2 2022)

Updated FY 2022 Guidance

  • Revenue: $55.5M - $58M (previously $58M - $60M)
  • Operating Expenses: $38.8M - $40.3M (previously $42.5M - $44M)
  • Income from Operations: $16.7M - $17.7M (increased from prior guidance)
  • Key Drivers:
    • Continued fixed fee license growth

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Operator: Hello and welcome to the Semler Scientific Third Quarter 2022 Financial Results Call. All participants will be in listen-only mode. [Operator Instructions] Please note, today's event is being recorded. I would now like to turn the conference over to your host today, Douglas Murphy-Chutorian. Please go ahead, sir. Douglas Murphy-Chutorian: Good afternoon, everybody, and thank you for joining us for the third quarter 2022 results call. I'd like to introduce Renae Cormier, our Head of Corporate Communication and Business Strategy, who will -- came for us today. Renae? Renae Cormier: Thank you, Doug. Good afternoon and thank you for joining us today. In addition to Doug, with me are Andy Weinstein, SVP Finance, Accounting; and Dennis Rosenberg, Chief Marketing Officer. Doug, Andy, Dennis 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 our updated financial guidance. Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from such statements. Those risks and uncertainties are descr

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