Semler Scientific, Inc. Q4 FY2022 Earnings Call

· Earnings call transcript and AI-powered summary

  • Leadership Transition: CEO Douglas Murphy-Chutorian will step down; Dr. Wayne Pan to assume CEO role effective April 3, 2023. Murphy-Chutorian will remain on the board through 2024.
  • Record Revenue:
    • Q4 2022 revenue was $13.8 million, a 20% increase vs. Q4 2021.
    • Full-year 2022 revenue was $56.7 million, up 7% versus 2021.
    • Q1 2023 guidance: Revenue projected at $17.4–$17.8 million, on track for highest quarterly revenue in company history.
  • Revenue Breakdown:
    • Fixed Fee Revenue: $9M in Q4 (↑14% YoY); $34M FY22 (↑11% YoY).
    • Variable Fee Revenue: $4.5M in Q4 (↑30% YoY); $21.3M FY22 (↓1% YoY).
    • Equipment & Other Revenue: $300K in Q4 (↑96% YoY); $1.4M FY22 (↑42% YoY).
  • Profit Metrics:
    • Q4 2022 pre-tax income: $4M (↑132% vs. Q4 2021).
    • Full-year 2022 pre-tax income: $17.7M (↓9% YoY).
    • Q4 2022 net income: $3.2M or $0.48 basic EPS (↑113% YoY).
    • Full-year 2022 net income: $14.3M or $2.13 basic EPS (↓17% YoY).

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Operator: Good afternoon, and welcome to the Semler Scientific 2022 Fourth Quarter and Full Year Financial Results Conference Call. All participants will be in listen-only mode [Operator Instructions]. Please note, this event is being recorded. Before we begin, Semler Scientific needs to remind you that certain comments made during this call may constitute forward-looking statements, 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 the expectations for expansion of the business and the development and marketing of additional products as well as the impact of the CMS advance notice. Such forward-looking statements are subject to those known and unknown risks and uncertainties that could cause actual results to differ materially from such statements. Those risks and uncertainties are described in the press release and our SEC filings. The forward-looking statements made today are as of the date of this call, and the company does not undertake any obligation to update the forward-looking statements. If you do not have a copy of today's release, you may obtain one by visiting the Investor Relations page of the website, semlerscientific.com. Now I would like to introduce Doug Murphy-Chutorian, CEO of Semler Scientific. Douglas Murphy-Chutorian: Good afternoon, everyone, and thank you for joining us for our fourth quarter 2022 and our full year results cal

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