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Jun 30, 2022
Semler Scientific Q2 2022 Earnings Report
Semler Scientific's Q2 2022 financial results were reported, showing revenue increase and profitability.
Key Takeaways
Semler Scientific reported a 4% increase in revenue to $14.8 million and a net income of $4.1 million for Q2 2022. The company achieved record revenues and cash generation due to increased orders for QuantaFlo®.
Revenues increased by 4% to $14.8 million compared to Q2 2021.
Net income was $4.1 million, or $0.51 per diluted share, compared to $6.7 million, or $0.83 per diluted share, in Q2 2021.
Cash and cash equivalents increased to $40.0 million as of June 30, 2022, from $28.5 million in the prior year.
The company is evolving into a multi-product company offering healthcare solutions to an expanding client base.
Semler Scientific
Semler Scientific
Forward Guidance
Semler Scientific expects continued profitability and cash generation. For the second half of 2022, Semler Scientific projects revenue to range from $29.2 million to $31.2 million, representing a growth rate of 14% to 21% compared to the second half of 2021. Operating expenses are expected to range from $22.8 million to $24.3 million.
Positive Outlook
- Continued profitability
- Generation of cash from operating activities
- Increased spending to support anticipated growth
- Revenue will range from $29.2 million to $31.2 million in the second half of 2022
- Annual revenue will range from $58.0 million to $60.0 million
Challenges Ahead
- Increased spending to support anticipated growth
- Operating expenses will range from $22.8 million to $24.3 million for the second half of 2022
- Operating expenses will range from $42.5 million to $44.0 million for the year ended December 31, 2022
- Uncertainty created by the ongoing COVID-19 pandemic
- Whether or not insurance plans and other customers will continue to license its cardiovascular testing products