SMLR - Earnings call transcript Q3 2024

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Operator

Good afternoon, everyone, and welcome to the Semler Scientific Third Quarter 2024 Financial Results Conference Call. [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, and 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; the development and marketing of additional products, including receipts and timing of an additional 510(k) clearance for QuantaFlo; and our recently adopted Bitcoin treasury strategy that plans to acquire additional Bitcoin.

Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from such statements. are the uncertainties our release and filings. SEC risks described press in and Those made as today of statements forward-looking The are this of call. date the forward-looking The does not any to company undertake update obligation statements.

by copy do you release, obtain Relations website, not of a visiting If of Investor the have you today's can the semlerscientific.com. page one

to Murphy-Chutorian, CEO like Semler Scientific. I'd Now of introduce Doug

Douglas Murphy-Chutorian

of achieved Good our and results call. XXXX our third afternoon, quarter operations equipment cash everyone. Thank and from again, cash you a we to for used income joining most us for Bitcoin. strong Once buy

-- As of November November hold we X,XXX X no, X, XXXX, Bitcoins.

And provide over to you I Bitcoin Eric will update turn an who our on Chairman, now the with strategy. will Semler, call Eric? our

Eric Semler

for are today. results, using operating are accumulating you, and third quarter both pleased our very making listening of strong in excellent Thank thank with our and Doug, progress we With Bitcoin our announce you our to the to strategy we ATM program. flow our shareholders cash all

We have to share. per Bitcoin added our meaningfully

able business, reserve to well issuances as proceeds an serves as operating flows cash equity to Bitcoin, our use primary from asset. which as treasury acquire As we're

balance the date We opportunity in even Since of stock. million our purchases highly to unique to today in reserve outsized sheet Bitcoin confidence our equity. drive of greater view to and accretive we May, upside our announcing to Bitcoin treasury $XX Bitcoin returns have our in as strategy we investment use our the have

to to and ATM buy continue more operating intend to cash We Bitcoin. our use

methodically a Bitcoin. options cash responsibly. so. to it our Furthermore, we to additional financing more pursued do options is and will evaluated to prudently acquire wide act We of and believe use when and thoroughly financing more range will we be All are exploring raise accretive ATM

pleased update COO, services Jen? our provide to and business. introduce Jennifer products of overview I'm medical our to an Oliva-Herrington, core and Now

Jennifer Herrington

and developments our quarter will our presenting opportunities. Today, about CFO, an I'll results. market you, overview be be Eric. providing financial Renae Thank third of information Cormier, XXXX

marketing and products combat chronic continue diseases. medical and providers will developing strategy, on in and pioneer business. our technology a focus we to health care services to Bitcoin core services is products with treasury In our conjunction Semler to

a from Our product, SaaS-based that market. of a early advice underpenetrated is arterial QuantaFlo, PAD. a we in noninvasive disease aids large point-of-care generate core diagnosis clinicians or revenue recurring model, peripheral With the

a concern expenditures Semler's mission improve is care Cardiovascular major imperative burden and detection care outcomes to the care identification disease to in mortality, supporting diseases, health of global underscoring early top by a as health cardiac early system. the health cardiovascular global ranks conditions. of for

to advancing are committed expanding product at medical research the to forefront our offerings and of We stay innovation.

extending expansion. vision our reach our applications, includes Our to to additional long-term cardiovascular reflecting continuous dedication encompass

seeking we announced QuantaFlo to are our extension we continue hope As this innovate, new we year We obtain product. XXXX. will XXX(k) an XXX(k) half this earlier clearance a clearance the for of for first the in we that to extension that

of PAD, care. to standard the as establish work in as the diagnosis and tool aid promote In valuable QuantaFlo of an continue the to meantime, as it a we

Our that strategy markets by will new benefit growing PAD includes and providers adding expanding growing our testing. within value-based new medical care customer from centers, base

over to discuss turn highlights. now will Renae? financial call I the Renae to our

Renae Cormier

about ATM third financial S-X registration under use our quarter then you, effective Bitcoin our results Jen. our cover and of holdings will I more Thank and speak statement.

via and questions we time remarks been answer have our e-mail. that permits, as Following will submitted

was XX% were million, $XX.X XXXX compared third revenues to which in QX down XXXX. of the quarter Total about

which respectively. saw our XX% XX% Operating XX% XXXX. third affiliates, of quarterly in XXXX, customers, quarter year-over-year. quarter of of comprised We decrease includes similar revenue, expect and a a revenues XXXX, the in were of QX $X.X related including cost million, the follow to largest revenues, we X fourth their expenses In in cadence

from was to year. $X.X compared the million prior in $X.X million operations Income

year, the treasury For focused tight the we continue of implement strategy. to remainder on as we're expense our Bitcoin control

net $X.X and value of million included was change gain holdings. in fair million the $X.X income from Bitcoin a of Other our

We to at the changes be recognized assets in the income in accounting which fair XXXX-XX value early each losses value by from gains crypto new fair in to be and FASB standard net have issued elected XXXX-XX, requires for reporting adopt Bitcoin ASU for ASU of disclosure and with to period. is the assets. measured

may Bitcoin to reported into intend from income, our this operations, in our impact volatility flow which introduce While additional purchases. invest not we cash net it will

XXXX. more and at or Bitcoin. to we $X.XX needs, intend and cash was of acquire generation, of restricted share income $X.XX QX $X.XX Cash, liquid XX, income and million. in September was including assets, diluted $X.X $X.X fully cash cash diluted share to basic or operating share million Net million equivalents fully $X.X per capital working to $X.XX compared per XXXX per Outside per share our net basic use

and on favorable. stock including ATM conditions primarily stock. August, issue for proceeds we'll At warrants or our ATM the to are we the filed same statement a Bitcoin. common corporate intend acquisition value a total And covering $XX $XXX with and the and from utilize offer, of up registration the use In prospectus We issuance of million our shelf time sale the debt may offering to general to S-X market when sell at-the-market of which offering, purposes, under we became effective, million. time time, Form security, common

During aggregate utilized from cash We less third shares of million. as XXXX, commissions, ATM of the $X.X approximately proceeds additional well Bitcoin. we an purchase to as proceeds, these sold XX,XXX operations approximately sales quarter under the net for

Bitcoins third and for X,XXX Bitcoins. an cost a to purchased of for purchased Subsequent $X.X Bitcoins the aggregate an XXXX, XXX end, XX hold we million quarter of million. additional an of $X.X cost total During now we quarter aggregate of

Renae Cormier

for We tried we the address additional of remarks. Now that we'll questions. some in time received We to release prepared begin our some have Q&A. ahead questions do

our company accretive process the "Does one pathway be options of We and imminent look traded. to in for we to for of the which must stock broker comes of our We for ownership. listing criteria is exchange do not becoming eventually is, exchange. our outstanding have believe meet satisfy execute continue float in million options trading shareholders?" So satisfy request we a an the X high stock. the options on registered to that will of order requirements given that our our tradable the order as several at we for we of only a to shares, list could at insider public believe can dealer an for increase different to first exchange the ATM, its shares can shares, criteria the The The freely be options

Our for an acquire plans debt or to issue give Eric. per any is bonds your "Can next on capital markets to more update have question company strategy? convertible the share?" you Bitcoin Does

Eric Semler

Renae. Thanks,

as As straight And and reasonable executed to more on cash operations are long debt bonds we continue wisdom from the ATM and additional we also sourcing and options And they are Renae? terms. as cash our mentioned financing to exploring we earlier, understand fully plan cash benefits from acquire to of program. we with convertible more from Bitcoin. purchasing Bitcoin generated raise

Renae Cormier

of And Thanks, the for question. you the the what can remainder year?" the take expect the next Eric. "So driving do what's underlying I business? trends in

our managed still relating as software continued is see So And our we beyond value-based importance customer We do continue for to testing product. providers licenses demand recognized. clinics clinical reaching to of we're the testing. and see expanding QuantaFlo base care, care

Our priority for year operating the rest is the to maximize of income.

innovate grow remainder support, Beyond capital our of operating and [ allocate maintaining ] some purchases. plan by working Bitcoin to operations, additional cash we to [indiscernible] generation our the

to Bitcoin take, yield metrics?" Eric, this Semler "Is you So release final going question, can

Eric Semler

represents for its is percentage in Thanks, our company's and our to KPI holdings yield believe for yield assumed performance outstanding. tracking Renae. the an accretive the change to We diluted ratio that shares stakeholders. an between Bitcoin of Bitcoin BTC strategy acquire period the Bitcoin excellent a period of way

the high shares remained driven the quarter. internally, increase a Bitcoin flat. We pleased total were third our yield assumed our diluted was This time, closely we monitor in with positive at while by holdings Bitcoin yield our teens and Bitcoin outstanding in same our very XX%

diluted outstanding exercise taking of calculation exercise awards disclosures. that be can vesting assumed based on conditions into public are relatively all the not account or outstanding based done stock our option any Assumed on price. straightforward shares It's a

we releases As get our this will Bitcoin future. yield, we more KPI, experience in consider with in Renae? the it including press

Renae Cormier

for everyone, Thank questions. you, thank your you, And Eric.

call, software business licensing As continued we treasury our to we execution Bitcoin our our up medical of this conference commitment want ongoing emphasize wrap and strategy. to

ongoing today's discussion, and in you participation Operator? your appreciate support. for We your thank

Operator

joining. we'll call that, Ladies and We conference presentation. thank for concluding be and today's you with gentlemen,

your disconnect now may You lines.

Semler Scientific (SMLR) 4 Nov 242024 Q3 Earnings call transcript