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Dec 31, 2021
Semler Scientific Q4 2021 Earnings Report
Semler Scientific's Q4 2021 financial results were reported with a revenue decrease and net income decline compared to the same period in 2020.
Key Takeaways
Semler Scientific reported a decrease in revenue and a significant decline in net income for Q4 2021 compared to Q4 2020. While fixed-fee license revenues increased, variable-fee license revenues and equipment/other sales decreased. The company experienced a COVID-19 related timing change in the home-testing market.
Q4 2021 revenues decreased by 4% to $11.5 million compared to $12.1 million in Q4 2020.
Net income for Q4 2021 decreased by 72% to $1.5 million, or $0.18 per diluted share, compared to $5.4 million, or $0.66 per diluted share, in Q4 2020.
Cost of revenues increased by 120% to $2.2 million due to a $1.2 million inventory write-down.
Two largest customers comprised 48.6% and 21.7% of fourth quarter revenues.
Forward Guidance
Semler Scientific anticipates continued profitability and cash generation in 2022, with increased spending to support business growth.
Positive Outlook
- Continued profitability expected
- Cash generation from operations expected
- Increased spending to support anticipated growth
- Potential for PAD risk management at the population level
- Continued adoption of QuantaFlo® by existing and new customers
Challenges Ahead
- Uncertainty created by the ongoing COVID-19 pandemic
- Potential impact of new COVID-19 variants
- Risk factors detailed in Semler Scientific’s SEC filings
- Dependency on insurance plans licensing cardiovascular testing products
- Ability to successfully expand its product offering
Historical Earnings Impact
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Avg. Return Before/After Earnings
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