Full Press Release Details
Semler Reports First Quarter 2019 Financial
2019 Q1 HIGHLIGHTS compared to the corresponding period of
San Jose, Cal. - April 29, 2019 - Semler
Scientific, Inc. (OTCQB: SMLR), an emerging growth company that provides technology solutions
to improve the clinical effectiveness and efficiency of healthcare providers, today reported financial results for the three
months ended March 31, 2019.
"As evidenced by more orders and more tests performed,
our customers continue to incorporate our vascular testing product into their practice of preventive healthcare," said Doug
Murphy-Chutorian, M.D., chief executive officer of Semler Scientific. "We believe that the value proposition for them of
using our QuantaFlo product is a combination of better patient outcomes, cost efficiency and improved medical economics."
For the quarter ended March 31, 2019, compared to the quarter
ended March 31, 2018, Semler Scientific reported:
FIRST QUARTER 2019 MAJOR ACCOMPLISHMENTS
Among the achievements during the first quarter of 2019 were:
In 2019, Semler Scientific expects continued profitability and
generation of cash from operating activities. It is the company's intent to grow revenues at a faster rate than expenses
and to remain profitable.
"Working closely with the healthcare industry, we hope
to continue contributing to the cost-efficient delivery of medical care to patients by our customers," said Dr. Murphy-Chutorian.
"Our product and data service are intended to help solve problems encountered by underserved communities, diabetic populations,
women and the elderly, among others," he continued, "by empowering primary care providers to identify health concerns
earlier and to employ preventive care solutions before the sequelae of chronic diseases occur."
Notice of Conference Call
Semler Scientific will host a conference call at 4:30 p.m. ET,
Monday, April, 29, 2019. The call will address results of the first quarter 2019 as well as provide a business update on the company's
market outlook and strategies for the near-term future.
We encourage participants to pre-register for the conference
call using the following link. Callers who pre-register will be given a conference passcode and unique PIN to gain immediate access
to the call and bypass the live operator. Participants may pre-register at any time, including up to and after the call start
time. To pre-register, go to: http://dpregister.com/10130169
Those without internet access or unable to pre-register may
Domestic callers: (866) 777-2509
International callers: (412) 317-5413 for international callers.
Please specify to the operator that you would like to join
the "Semler Scientific Call." The conference call will be archived on Semler's website at www.semlerscientific.com.
Semler Scientific, Inc.
Condensed Statements of Income
(In thousands of U.S. Dollars, except for
share and per share data)
| For the three months ended March 31 | ||||||||
| (Unaudited) | ||||||||
| 2019 | 2018 | |||||||
| Revenues | $ | 6,761 | $ | 4,463 | ||||
| Operating expenses: | ||||||||
| Cost of revenues | 896 | 704 | ||||||
| Engineering and product development | 569 | 367 | ||||||
| Sales and marketing | 2,070 | 1,705 | ||||||
| General and administrative | 1,372 | 874 | ||||||
| Total operating expenses | 4,907 | 3,650 | ||||||
| Income from operations | 1,854 | 813 | ||||||
| Interest expense, net | - | (32 | ) | |||||
| Interest expense - related parties | - | (75 | ) | |||||
| Other expense | - | (107 | ) | |||||
| Net income | $ | 1,854 | $ | 706 | ||||
| Net income per share: | ||||||||
| Basic | $ | 0.29 | $ | 0.12 | ||||
| Diluted | $ | 0.23 | $ | 0.10 | ||||
| Weighted average number of shares used in computing income per share: | ||||||||
| Basic | 6,326,149 | 5,924,701 | ||||||
| Diluted | 8,170,287 | 7,280,492 |
Semler Scientific, Inc.
Condensed Balance Sheets
(In thousands of U.S. Dollars)
| At March 31, | At December 31, | |||||||
| 2019 | 2018 | |||||||
| (unaudited) | ||||||||
| Cash | $ | 4,544 | $ | 3,284 | ||||
| Other current assets | 2,758 | 2,954 | ||||||
| Noncurrent assets | 1,753 | 1,481 | ||||||
| Total assets | $ | 9,055 | $ | 7,719 | ||||
| Current liabilities | 2,884 | 3,512 | ||||||
| Noncurrent liabilities | 10 | 11 | ||||||
| Stockholders' equity | 6,161 | 4,196 | ||||||
| Total liabilities and stockholders' equity | $ | 9,055 | $ | 7,719 |
About Semler Scientific, Inc.:
Semler Scientific, Inc. is an
emerging growth company that provides technology solutions to improve the clinical effectiveness and efficiency of healthcare
providers. Semler Scientific's mission is to develop, manufacture and market innovative proprietary products and services
that assist its customers in evaluating and treating chronic diseases. Semler Scientific's first patented and U.S.
Food and Drug Administration, or FDA, cleared product, introduced commercially in 2011, measured arterial blood flow in the extremities
to aid in the diagnosis of peripheral arterial disease. In March 2015, Semler Scientific received FDA 510(k) clearance for the
next generation version of this product named QuantaFlo , which was commercially launched in August 2015 to more comprehensively
evaluate our customers' patients for risk of heart attacks and strokes. Semler Scientific
believes it is positioned to provide valuable information to its insurance company and physician customers, which in turn permits
them to better guide patient care. Additional information about Semler can be found at semlerscientific.com.
Forward-Looking Statements
This press release contains "forward-looking" statements.
Such statements can be identified by, among other things, the use of forward-looking language such as the words "may,"
"will," "expect," "anticipate," "estimate," "project," "would,"
"could" or words with similar meaning or the negatives of these terms or by the discussion of strategy or intentions.
The forward-looking statements in this release include statements regarding continued profitability and cash generated from operations,
as well as the ability to grow revenues faster than expenses. Such forward-looking statements are subject to a number of risks
and uncertainties that could cause Semler Scientific's actual results to differ materially from those discussed here, such
as whether or not insurance plans and other customers will continue to license its cardiovascular testing products, and its ability
to continue to control expenses, along with those statements detailed in Semler Scientific's SEC filings. These forward-looking
statements involve assumptions, estimates, and uncertainties that reflect current internal projections, expectations or beliefs.
There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially
from those anticipated in such statements. All forward-looking statements contained in this press release are qualified in their
entirety by these cautionary statements and the risk factors described above. Furthermore, all such statements are made as of the
date of this release and Semler Scientific assumes no obligation to update or revise these statements unless otherwise required
S.A. Noonan Communications
SOURCE: Semler Scientific, Inc.