Semler Scientific, Inc. Q4 FY2021 Earnings Call

· Earnings call transcript and AI-powered summary

Financial Highlights – Full Year 2021 vs. 2020
  • Revenue: Increased 37% year-over-year to $53 million (from $38.6 million in 2020).
  • Net income: Up 23% to $17.2 million (from $14 million in 2020).
  • Cash balance: Ended the year with $37.3 million, up $15.2 million from 2020.
  • Earnings per Share: $2.56 basic ($2.12 diluted) vs. $2.13 basic ($1.74 diluted) in 2020. Excluding inventory write-down, adjusted EPS was $2.74 basic and $2.27 diluted.
  • Operating expenses: Rose 48% to $33.6 million, mainly due to headcount growth (124 vs. 86) and $1.2 million inventory write-down after terminating a distribution agreement.
Q4 2021 vs. Q4 2020
  • Revenue: Decreased 4% to $11.5 million (from $12.1 million).
  • Net income: Dropped 72% to $1.5 million (from $5.4 million), largely due to the $1.2 million inventory write-down.
  • EPS: $0.22 basic, $0.18 diluted vs. $0.81 basic, $0.66 diluted. Adjusted EPS excluding the write-down was $0.40 basic and $0.33 diluted.
  • Operating expenses: Increased 62% to $9.8 million (from $6.1 million).
Revenue by Product Category

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Operator: Good afternoon, and welcome to the Semler Scientific’s Fourth 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. 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 meanings, 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 ongoing COVID-19 pandemic, risks associated with Semler Scientific’s 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 results 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. During the call, Semler Scientific will also discuss certain non-GAAP financial measures, which illustrate the effects of inventory

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