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Semler Scientific (SMLR)
NASDAQ:SMLR
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Semler Scientific (SMLR) AI Stock Analysis

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Semler Scientific

(NASDAQ:SMLR)

Rating:56Neutral
Price Target:
$47.00
▲(13.97%Upside)
Semler Scientific's stock score is driven by financial challenges, particularly in revenue and profitability, which are offset by positive technical indicators and strategic initiatives in bitcoin holdings. The company's ambitious plans and recent stock appreciation contribute positively, yet financial and operational risks remain significant.
Positive Factors
Market Opportunity
Semler Scientific's target screening population for PAD is roughly 80 million people, presenting a large market opportunity.
Product Development
Semler Scientific's rapid point-of-care test, QuantaFlo, could become the standard-of-care for early detection of peripheral artery disease (PAD).
Negative Factors
Regulatory Challenges
Recent challenges, including a Department of Justice investigation and Medicare reimbursement uncertainties, may have contributed to the company's valuation discount.
Revenue Challenges
The medical device business is experiencing declining revenue due to reimbursement cuts, not product issues.

Semler Scientific (SMLR) vs. SPDR S&P 500 ETF (SPY)

Semler Scientific Business Overview & Revenue Model

Company DescriptionSemler Scientific, Inc. provides technology solutions to improve the clinical effectiveness and efficiency of healthcare providers in the United States. The company's products include QuantaFlo, a four-minute in-office blood flow test that enables healthcare providers to use blood flow measurements as part of their examinations of a patient's vascular condition. Its products serve cardiologists, internists, nephrologists, endocrinologists, podiatrists, and family practitioners, as well as healthcare insurance plans, integrated delivery networks, independent physician groups, and companies contracting with the healthcare industry, such as risk assessment groups. The company offers its products through salespersons and distributors. Semler Scientific, Inc. was incorporated in 2007 and is headquartered in Santa Clara, California.
How the Company Makes MoneySemler Scientific makes money primarily through the sale and licensing of its QuantaFlo product to healthcare providers, insurance companies, and other medical facilities. The company employs a licensing model where clients pay a recurring fee for the use of the QuantaFlo device and software, providing a steady stream of revenue. Additionally, Semler Scientific may generate income from partnerships with insurance companies or other healthcare organizations that integrate their diagnostic tools into broader health assessment programs. The company's focus on addressing chronic vascular conditions helps position its products as essential tools in preventative healthcare, further enhancing its revenue potential.

Semler Scientific Earnings Call Summary

Earnings Call Date:May 13, 2025
(Q1-2025)
|
% Change Since: 12.37%|
Next Earnings Date:Aug 11, 2025
Earnings Call Sentiment Neutral
The earnings call highlighted successes in the company's bitcoin treasury strategy and stock price appreciation, while also acknowledging significant challenges with revenue decline and high operating losses. The ambitious goals for bitcoin holdings and new healthcare initiatives provide a positive outlook, but the financial setbacks present a significant concern.
Q1-2025 Updates
Positive Updates
Bitcoin Treasury Strategy Success
Semler Scientific's bitcoin treasury strategy has led to the acquisition of 3,808 bitcoins, valued at $400 million, positioning it as the fourth largest bitcoin treasury company in the U.S. The BTC yield achieved was 22.2% in 2025, with a BTC dollar gain of $52 million.
Stock Price Appreciation
Since adopting bitcoin as their primary treasury reserve asset, Semler Scientific's stock has appreciated by 64% in less than 12 months, compared to only 9% for the S&P 500.
Ambitious Growth Plans for Bitcoin Holdings
Semler Scientific has set ambitious goals for growing its bitcoin holdings in 2025, backed by a new $500 million ATM program and a $100 million convertible note financing round.
New Healthcare Initiatives
The company is targeting future growth in its healthcare business by diversifying its customer base and introducing FDA-cleared products in the cardiovascular space.
Negative Updates
Significant Revenue Decline
Total revenues in Q1 2025 were $8.8 million, down 44% compared to Q1 2024, primarily due to CMS payment changes impacting the healthcare business.
High Operating Expenses and Losses
Operating expenses in Q1 2025 were $39.9 million, leading to a loss from operations of $31.1 million, compared to income from operations of $70 million in the prior year.
Net Loss and Bitcoin Valuation Impact
The company reported a net loss of $64.7 million for Q1 2025, with a net unrealized loss of $41.8 million from changes in bitcoin valuation.
Company Guidance
During the Semler Scientific Q1 2025 financial results conference call, significant guidance was provided regarding both the company's bitcoin treasury strategy and its healthcare business. The company confirmed its position as a bitcoin-first entity, having acquired 3,808 bitcoins valued at approximately $400 million, marking a BTC yield of 22.2% in 2025 alone. A $500 million ATM program, effective since April 22, 2025, was announced to further bolster bitcoin acquisitions. Despite pressures from CMS payment changes affecting the healthcare segment, Semler plans to leverage cash generated from this business to support its bitcoin strategy. Revenue for Q1 2025 stood at $8.8 million, a 44% decrease from the previous year, with a net loss of $64.7 million largely due to a $41.8 million net unrealized loss on bitcoin holdings. The company aims to offset healthcare revenue declines by diversifying its customer base and introducing new FDA-cleared cardiovascular products, while maintaining a focus on expanding its bitcoin holdings aggressively.

Semler Scientific Financial Statement Overview

Summary
Semler Scientific faces financial headwinds with declining revenues and profitability. The income statement shows operational challenges, while the balance sheet, despite a strong equity position, reveals increased leverage. Cash flow challenges persist with negative free cash flow due to high capital expenditures.
Income Statement
45
Neutral
The income statement shows a concerning decline in revenue and profitability. The TTM (Trailing-Twelve-Months) data indicates a negative net income and EBIT, reflecting operational challenges. The gross profit margin remains high at approximately 91%, but the net profit margin has turned negative due to significant expenses or losses. Revenue growth has been inconsistent, with a notable decline from the previous year.
Balance Sheet
60
Neutral
The balance sheet reveals a strong equity position, with an equity ratio of approximately 55% in TTM. However, there is a significant increase in total debt, leading to a higher debt-to-equity ratio, which could pose financial risks. Despite this, the company maintains a solid asset base, which provides some stability.
Cash Flow
50
Neutral
Cash flow analysis shows a negative free cash flow in TTM, driven by substantial capital expenditures. The operating cash flow remains positive, indicating the company can generate cash from its core operations. However, the free cash flow to net income ratio is unfavorable, reflecting cash flow challenges.
BreakdownDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue56.29M68.18M56.69M53.03M38.60M
Gross Profit51.53M61.20M52.43M46.91M35.25M
EBITDA21.51M23.28M17.79M19.45M15.96M
Net Income40.90M20.58M14.32M17.22M14.01M
Balance Sheet
Total Assets239.83M78.06M62.69M50.67M34.64M
Cash, Cash Equivalents and Short-Term Investments14.92M57.20M43.09M37.32M22.08M
Total Debt70.00K160.00K245.00K325.00K332.00K
Total Liabilities9.08M6.27M7.02M5.13M4.85M
Stockholders Equity230.75M71.80M55.68M45.55M29.79M
Cash Flow
Free Cash Flow24.36M20.50M15.30M15.23M14.36M
Operating Cash Flow24.41M21.33M17.46M16.06M15.42M
Investing Cash Flow-189.98M18.40M-26.84M-825.00K-1.31M
Financing Cash Flow117.19M-5.41M-4.94M13.00K230.00K

Semler Scientific Technical Analysis

Technical Analysis Sentiment
Positive
Last Price41.24
Price Trends
50DMA
38.14
Positive
100DMA
37.04
Positive
200DMA
42.65
Negative
Market Momentum
MACD
1.82
Negative
RSI
52.53
Neutral
STOCH
37.56
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SMLR, the sentiment is Positive. The current price of 41.24 is above the 20-day moving average (MA) of 41.10, above the 50-day MA of 38.14, and below the 200-day MA of 42.65, indicating a neutral trend. The MACD of 1.82 indicates Negative momentum. The RSI at 52.53 is Neutral, neither overbought nor oversold. The STOCH value of 37.56 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Positive sentiment for SMLR.

Semler Scientific Risk Analysis

Semler Scientific disclosed 50 risk factors in its most recent earnings report. Semler Scientific reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Semler Scientific Peers Comparison

Overall Rating
UnderperformOutperform
Sector (52)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
70
Outperform
$221.32M14.378.12%5.96%-43.83%
63
Neutral
$300.46M-7.46%-3.31%-199.23%
60
Neutral
$311.76M-76.21%23.22%9.54%
56
Neutral
$568.63M7.47-24.94%-25.28%-172.20%
52
Neutral
$431.98M-16.96%-14.96%-245.49%
52
Neutral
$7.35B-0.07-63.71%2.81%16.17%0.03%
51
Neutral
$437.41M-161.19%1.64%16.02%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SMLR
Semler Scientific
41.24
6.99
20.41%
SRDX
SurModics
30.21
-11.57
-27.69%
CLPT
ClearPoint Neuro
11.03
3.82
52.98%
SENS
Senseonics Holdings
0.58
0.09
18.37%
TCMD
Tactile Systems Technology
9.52
-3.16
-24.92%
VREX
Varex Imaging
7.24
-7.13
-49.62%

Semler Scientific Corporate Events

Product-Related AnnouncementsRegulatory Filings and Compliance
Semler Scientific Launches Bitcoin Holdings Dashboard
Neutral
Jul 17, 2025

Semler Scientific has launched a dashboard on its website to disclose information about its Bitcoin holdings, market data, and related key performance indicators. This initiative aims to ensure compliance with disclosure regulations and provide transparency to investors and stakeholders.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Product-Related AnnouncementsRegulatory Filings and Compliance
Semler Scientific Launches Bitcoin Holdings Dashboard
Neutral
Jul 7, 2025

Semler Scientific has launched a website dashboard to disclose information about its Bitcoin holdings, market data, and key performance indicators to comply with Regulation FD. This initiative aims to provide transparent and broad distribution of material information, encouraging investors to regularly review the updates.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Private Placements and FinancingBusiness Operations and Strategy
Semler Scientific Launches CardioVanta Subsidiary for Healthcare
Neutral
Jun 24, 2025

On June 24, 2025, Semler Scientific announced the creation of CardioVanta, Inc., a wholly-owned subsidiary dedicated to its future healthcare business activities. This strategic move aims to enhance the company’s focus on early detection of heart-related conditions and involves seeking external investment to support its initial capital requirements, potentially impacting its market positioning and stakeholder interests.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Semler Scientific Updates Bylaws for Compliance Clarity
Neutral
Jun 23, 2025

On June 22, 2025, Semler Scientific‘s board of directors approved the Fifth Amended and Restated Bylaws, effective immediately. This amendment was made to clarify compliance with Delaware General Corporation Law and to align with the company’s certificate of incorporation, potentially impacting corporate governance and operational clarity.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Executive/Board ChangesPrivate Placements and FinancingBusiness Operations and Strategy
Semler Scientific Appoints Joe Burnett for Bitcoin Strategy
Positive
Jun 20, 2025

On June 19, 2025, Semler Scientific, Inc. announced the appointment of Joe Burnett as director of Bitcoin strategy. The company also revealed its ambitious plan to acquire 10,000 Bitcoins by the end of 2025, 42,000 by the end of 2026, and 105,000 by the end of 2027, utilizing funds from equity and debt financings as well as cash flows from operations.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Semler Scientific Updates Bylaws for Governance Efficiency
Neutral
Jun 4, 2025

On June 4, 2025, Semler Scientific, Inc.’s board of directors approved and adopted its Fourth Amended and Restated Bylaws to align with the current Delaware General Corporation Law. This update reflects changes such as the removal of the requirement for a stockholder list during meetings and the elimination of restrictions on actions without meetings, potentially streamlining corporate governance processes.

The most recent analyst rating on (SMLR) stock is a Buy with a $71.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Semler Scientific Acquires 185 Bitcoin for $20 Million
Positive
Jun 4, 2025

Semler Scientific has established a dashboard on its website to disclose information about its Bitcoin holdings and related financial metrics, aiming to provide transparency and comply with regulatory obligations. Between May 23 and June 3, 2025, the company acquired 185 Bitcoin for $20 million, bringing its total holdings to 4,449 Bitcoin, valued at $472.9 million, and reported a BTC Yield of 26.7% year-to-date, reflecting its strategy to enhance shareholder value through Bitcoin investments.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Private Placements and FinancingBusiness Operations and StrategyFinancial Disclosures
Semler Scientific’s Recent Bitcoin Acquisition and Stock Offering
Neutral
May 23, 2025

Semler Scientific announced its recent financial activities, including an at-the-market offering program initiated on April 15, 2025, allowing the company to issue and sell up to $500 million of its common stock. By May 22, 2025, the company had raised approximately $114.8 million through this program. Additionally, between May 13 and May 22, 2025, Semler Scientific acquired 455 Bitcoin for $50 million, bringing its total Bitcoin holdings to 4,264, valued at $474.4 million as of May 22, 2025. The company reported a BTC Yield of 25.8% year-to-date, which it uses as a key performance indicator to evaluate the effectiveness of its Bitcoin acquisition strategy.

The most recent analyst rating on (SMLR) stock is a Buy with a $71.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Executive/Board ChangesBusiness Operations and Strategy
Semler Scientific Appoints Natalie Brunell to Board
Neutral
May 19, 2025

On May 15, 2025, Semler Scientific‘s Board of Directors appointed Ms. Natalie Brunell to fill a vacancy in Class II, effective immediately, and to serve on the Bitcoin Strategy Committee. Ms. Brunell received stock options as part of her compensation, and Semler Scientific entered into a standard indemnification agreement with her, ensuring protection against certain legal expenses.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Jul 11, 2025