Full Press Release Details
Semler Reports Second Quarter 2015 Financial
Over Year Growth of 54%; Quarterly Growth of 8%
PORTLAND, Ore. - July 31, 2015 - Semler
Scientific, Inc. (Nasdaq: SMLR), a company that provides diagnostic and testing services
to healthcare insurers and physician groups, today reported financial results for the second quarter ended June 30, 2015.
"In the second quarter
of 2015, Semler reported continued progress with year over year revenue growth of 54%, quarter
over quarter revenue growth of 8%, and quarter over quarter growth of the installed
base of FloChec units of 18%,"
said Doug Murphy-Chutorian, M.D., chief executive officer of Semler. "During this period, we also expanded business with
existing clients, made progress on furthering relationships with new insurance plans, made preparations to launch our FDA 510(k)-cleared,
next generation version of FloChec , and made progress towards obtaining contracts for WellChec , our new, multi-test
In the three months ended June 30, 2015, compared to the corresponding
period of 2014, Semler had:
In the six months ended June 30, 2015, compared to the corresponding
period of 2014, Semler had:
In the three months ended June 30, 2015, compared to the three
months ended March 31, 2015, Semler had:
Second Quarter 2015 Highlights
The second quarter of 2015 for Semler resulted in continued
revenue expansion and substantial growth in system installations. Other highlights included:
"We had our best quarter in terms of expansion of our
installed base of licensed FloChec units with continued sequential quarterly growth," said Dr. Murphy-Chutorian. "In
addition to new clients, many of our current customers are ordering more product from us as they experience the economic and clinical
benefits of our products and services, which we believe bodes well for continued revenue growth." He added, "Our
goal is to help physicians and insurance plans evaluate their patients now in order
to save medical costs later. Early diagnosis may lead to more prevention and lower future healthcare costs."
Notice of Conference Call
Semler will host a conference call at 11 a.m. EST, Friday,
July 31, 2015. The call will address second quarter results and will provide a business update on Semler's market
outlook and strategies for the near-term future.
The conference call may be accessed by dialing 877-359-9508
for domestic callers and 224-357-2393 for international callers. Please specify to the operator that you would like to join the
"Semler Second Quarter 2015 Financial Results Call, conference ID#: 87674841." The conference call will be archived on
Semler's website at www.semlerscientific.com.
Semler Scientific, Inc.
Unaudited Condensed Statements of Operations
(In thousands, except share and per share amounts)
| For the three months ended June 30 | For the six months ended June 30 | |||||||||||||||
| 2015 | 2014 | 2015 | 2014 | |||||||||||||
| Revenue | $ | 1,303 | $ | 846 | $ | 2,505 | $ | 1,683 | ||||||||
| Operating expenses: | ||||||||||||||||
| Cost of revenue | 244 | 172 | 463 | 326 | ||||||||||||
| Engineering and product development | 406 | 416 | 715 | 645 | ||||||||||||
| Sales and marketing | 1,304 | 728 | 2,532 | 1,473 | ||||||||||||
| General and administrative | 662 | 539 | 1,456 | 1,037 | ||||||||||||
| Total operating expenses | 2,616 | 1,855 | 5,166 | 3,481 | ||||||||||||
| Loss from operations | (1,313 | ) | (1,009 | ) | (2,661 | ) | (1,798 | ) | ||||||||
| Other expense | (28 | ) | (23 | ) | (52 | ) | (51 | ) | ||||||||
| Net loss | $ | (1,341 | ) | $ | (1,032 | ) | $ | (2,713 | ) | $ | (1,849 | ) | ||||
| Net loss per share, basic and diluted | $ | (0.27 | ) | $ | (0.22 | ) | $ | (0.56 | ) | $ | (0.53 | ) | ||||
| Weighted average number of shares used in computing basic and diluted loss per share | 4,978,878 | 4,708,017 | 4,871,614 | 3,488,067 |
Semler Scientific, Inc.
Condensed Balance Sheet
| As of | As of | |||||||
| June 30, 2015 | December 31, 2014 | |||||||
| (Unaudited) | ||||||||
| Cash and restricted cash | $ | 4,440 | $ | 6,256 | ||||
| Other current assets | 387 | 490 | ||||||
| Noncurrent assets | 851 | 754 | ||||||
| Total assets | 5,678 | 7,500 | ||||||
| Current liabilities | 3,977 | 4,064 | ||||||
| Non-current liabilities | 3 | - | ||||||
| Stockholders' equity | 1,698 | 3,436 | ||||||
| Total liabilities and stockholders' equity | $ | 5,678 | $ | 7,500 |
About Semler Scientific, Inc.:
Semler Scientific, Inc., is a
company that provides diagnostic and testing services to healthcare insurers and physician groups. Semler's first patented
and U.S. Food and Drug Administration cleared product, is FloChec . FloChec is used in the office setting to allow providers
to measure arterial blood flow in the extremities and is a useful tool for internists and primary care physicians for whom it
was previously impractical to conduct blood flow measurements. WellChec is a multi-test platform to perform risk assessments
for the healthcare insurance industry. 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 Semler's launch of its next generation product
and its ability to facilitate an expanded marketing program, as well as statements regarding the WellChec platform and its
impact on revenue growth. 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 lease FloChec or adopt WellChec , along with those detailed in Semler's SEC filings,
and 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 this release and Semler assumes no obligation to update or revise these statements unless otherwise required by law.
S.A. Noonan Communications
SOURCE: Semler Scientific, Inc.