Semler Scientific, Inc. Q4 FY2020 Earnings Call

· Earnings call transcript and AI-powered summary

  • Record Quarter & Year: Semler reported its best financial quarter and year in company history in terms of both revenue and pretax net income, despite the COVID-19 pandemic.
  • Q4 2020 Financial Highlights (YoY Comparison):
    • Revenue: $12.1M, up 32% from $9.2M in Q4 2019
    • Pretax Net Income: $6.5M, up 117% from $3M
    • Net Income: $5.4M, up 93% from $2.8M
    • EPS: $0.81 (basic) and $0.66 (diluted) vs. $0.43 and $0.35
    • Costs remained flat YoY ($6.1M), improving overall margins
    • Net income accounted for 45% of quarterly revenue
  • FY 2020 Financial Highlights (YoY Comparison):
    • Revenue: $38.6M, up 18% from $32.8M in 2019
    • Pretax Net Income: $16.5M, up 54% from $10.7M
    • Net Income: $14M, or $2.13 EPS (basic) and $1.74 (diluted)
    • Ex-tax benefit adjustment: Net income grew 31%
    • Operating expenses: $22.6M, up 3%
    • Cash: $22.1M as of year-end, up $14.4M YoY
    • Share Counts: 6.68M basic, 8.13M diluted
  • Revenue Breakdown:
    • Fixed Fee Software Licenses (FY): $25.7M (↑12%)
    • Variable Fee Licenses (FY): $11.6M (↑30%)
    • Equipment/Other Sales (FY): $1.3M (↑30%)

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Operator: Good afternoon, and welcome to the Semler Scientific’s Fourth Quarter 2020 Financial Results Conference Call. All participants will be in a listen-only mode. [Operator Instructions] Please note this event is being recorded. Before we begin, Semler Scientific would like to remind you 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 our recent investments and entities of potential complementary products and other new distribution arrangement 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 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 in these forward-looking statements. Now, I would like to introduce Doug Murphy-Chutorian, CEO of Semler Scientific. Doug Mu

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