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Jun 30, 2020
Semler Scientific Q2 2020 Earnings Report
Semler Scientific's financial performance was affected by the ongoing COVID-19 pandemic, but showed signs of recovery towards the end of the quarter as restrictions eased.
Key Takeaways
Semler Scientific reported its Q2 2020 financial results, which were impacted by the COVID-19 pandemic. However, the company saw a recovery towards the end of the quarter as state governments eased restrictions. Variable fee license revenues increased in June compared to May, and preliminary results for July indicate further growth.
The financial performance of the company continued to be affected by the ongoing COVID-19 pandemic.
State governments began easing COVID-19 related executive orders towards the end of the reporting period.
Test volumes decreased due to "social distancing" and other executive orders mandating "shelter-in-place" or similar restrictions.
Operating expenses decreased during the second quarter of 2020 as a result of cost-cutting measures.
Forward Guidance
Semler Scientific does not provide formal guidance, but intends to manage its expenses and other costs in line with changes in revenues to conservatively preserve cash during these uncertain times. The company believes customer interest in its QuantaFlo® product and related services will return to, or exceed, pre-COVID-19 activity at such time as “shelter-in-place” or similar restrictions are lifted and non-emergency medical services resume.
Positive Outlook
- The company intends to manage its expenses and other costs in line with changes in revenues.
- The company intends to conservatively preserve cash during these uncertain times.
- The company believes customer interest in its QuantaFlo® product and related services will return to, or exceed, pre-COVID-19 activity.
- The company expects activity to return when “shelter-in-place” or similar restrictions are lifted.
- The company expects activity to return when non-emergency medical services resume.
Challenges Ahead
- The company's performance was affected by the ongoing COVID-19 pandemic.
- There remains some uncertainty as state and local governments continue to revise restrictions.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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