Semler Scientific Q1 revenue down 13% to $15.9M; net income up 22% to $6.1M

Semler Scientific, Inc.

2024-Q1 EPS reported $0.78 revenue$15,903,000

Revenue of $15.9M, down 13% YoY; fixed-fee software license revenue fell 24% to $7.1M.
Net income of $6.1M ($0.78 diluted EPS) vs. $5.0M ($0.63) a year ago; operating expenses dropped 25%.
Cash and equivalents grew to $62.9M from $57.2M at year-end 2023, driven by strong cash generation.
CEO cites regulatory-driven revenue decline from PAD product; expects re-acceleration if new FDA 510(k) is obtained.
Three largest customers comprised 45%, 25%, and 11% of Q1 2024 revenue.

item 2.02 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

Semler Scientific, Inc. reported first quarter ended March 31, 2024 results: revenue $15.9 million, net income $6.1 million, EPS $0.88 per basic share and $0.78 per diluted share.

Period: first quarter ended March 31, 2024
Revenue: $15.9 million
Net income: $6.1 million
EPS: $0.88 per basic share and $0.78 per diluted share
Result: reported results

Exact text from the filing

(EX-99.1) --- Semler Scientific® Reports First Quarter 2024 Financial Results 2024 Q1 highlights compared to the corresponding period of 2023: ● First quarter revenues were $15.9 million, a decrease of 13% ● First quarter net income was $6.1 million, an increase of 22% ● Cash, cash equivalents and restricted cash balance increased to $62.9 million S anta Clara,

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Source: SEC EDGAR

accession 0001554859-24-000013

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