The following is a summary of the Semler Scientific, Inc. (SMLR) Q4 2023 Earnings Call Transcript:
Financial Performance:
Semler Scientific reported Q4 revenues of $15.1 million, up 9% from Q4 2022, driven by sales of QuantaFlo.
Fixed fee revenues were $8.8 million, a decrease of 2%, whilst variable fee revenues rose by 28% to $5.8 million.
Equipment and other revenues were up 71% year-over-year to $0.5 million.
Operating expenditures were high at $12.5 million due to a $2.5 million write-off and $0.6 million impairment of knowledge investments, resulting in a pre-tax income of $2.8 million.
Net income was reported at $4.2 million or $0.62 per basic share and $0.55 per fully diluted share.
Business Progress:
Semler is focused on customer base expansion for PAD and extending its technology to include other cardiovascular applications.
They are exploring inorganic growth initiatives to diversify their product portfolio and are considerate of expansion outside the Medicare Advantage sphere.
Semler continues dedicating resources to R&D, further enhancing their products, and plans to seek FDA clearance for the extension of QuantaFlo to aid in diagnosing other cardiovascular diseases.
Semler is also focusing on up-selling its expanded QuantaFlo offering to its current customer base and targeting the broader cardiovascular diagnostic market.
More details: Semler Scientific IR
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