Semler Scientific Q2 2021 Earnings Report
Key Takeaways
Semler Scientific reported a strong second quarter with a 125% increase in revenues to $14.3 million compared to the same period last year. Net income increased by 522% to $6.7 million, or $0.83 per diluted share. The company's cash position strengthened to $28.5 million.
Revenues increased by 125% to $14.3 million compared to Q2 2020.
Net income rose by 522% to $6.7 million, or $0.83 per diluted share.
Cash position increased to $28.5 million as of June 30, 2021.
The company's two largest customers accounted for 38% and 33% of quarterly revenues.
Semler Scientific
Semler Scientific
Forward Guidance
Semler Scientific anticipates continued profitability and cash generation, with increased spending to support business growth, aiming to grow annual revenues faster than expenses and remain profitable.
Positive Outlook
- Continued profitability expected.
- Generation of cash from operating activities.
- Increased spending to support anticipated growth.
- Intent to grow annual revenues at a faster rate than annual expenses.
- Aim to remain profitable.
Challenges Ahead
- Uncertainty related to insurance plan licensing.
- Risks associated with expanding product offerings.
- Challenges in controlling expenses.
- Need to preserve cash.
- Uncertainty created by COVID-19.