Semler Scientific Reports Q3 2024 Earnings and Bitcoin Strategy

Semler Scientific ( (SMLR) ) has released its Q3 earnings. Here is a breakdown of the information Semler Scientific presented to its investors.

Semler Scientific, Inc. is a company specializing in the development and marketing of technology products and services for healthcare providers, particularly aimed at combating chronic diseases. It operates within the healthcare technology sector and is known for its flagship product, QuantaFlo®, a rapid point-of-care test for cardiovascular diseases, as well as its significant investments in Bitcoin as a primary treasury asset.

In the third quarter of 2024, Semler Scientific reported a strong operational performance with an income from operations of $5.1 million. The company continues to focus on both its healthcare innovations and its strategic investments in Bitcoin, having acquired an additional 47 bitcoins, bringing its total holdings to 1,058 bitcoins valued at $71.0 million.

The financial results for the quarter showed a revenue of $13.5 million, marking a 17% decrease from the previous year. Operating expenses were reduced by 16% to $8.4 million, and net income saw a slight increase to $5.6 million, or $0.80 per basic share. The company’s strategic focus on Bitcoin was highlighted by its controlled equity offering, through which it raised $2.5 million.

Semler Scientific’s leadership, as evidenced by public statements, remains committed to maximizing stakeholder value through strategic acquisitions and holdings of Bitcoin, while continuing to expand and innovate within its core healthcare business. This dual-focus strategy is poised to support the company’s growth and financial performance moving forward.