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Mar 31, 2024
Semler Scientific Q4 2024 Earnings Report
Semler Scientific reported its fourth quarter and full year 2024 financial results, highlighting a 107% BTC Yield since July 1, 2024, and holding 3,192 BTC.
Key Takeaways
Semler Scientific reported a transformative year in 2024, driven by its bitcoin treasury strategy. The company achieved strong financial performance in its healthcare business, with income from operations of $20.9 million for the full year. The strategic acquisition of 3,192 bitcoins, valued at approximately $300 million, significantly increased market capitalization by over 200% since May 2024.
Semler Scientific's BTC Yield for the year ended December 31, 2024, was 107%.
As of December 31, 2024, Semler Scientific held 2,298 bitcoins with a fair value of $214.6 million, reflecting a cumulative increase in fair value of $24.9 million.
The company purchased an additional 894 bitcoins through February 14, 2025, bringing total holdings to 3,192 bitcoins for an aggregate purchase amount of $280.4 million.
Semler Scientific sold 2,197,988 shares under its At-the-Market Equity Offering Program, generating approximately $119.6 million in net proceeds.
Semler Scientific
Semler Scientific
Forward Guidance
Semler Scientific's forward-looking statements indicate a continued focus on acquiring and holding bitcoin, alongside innovation and growth in its healthcare business. The company plans to support additional bitcoin purchases through various financings and is seeking new regulatory clearances for its products.
Positive Outlook
- Commitment to significantly expanding bitcoin holdings, viewing it as digital gold with long-term potential.
- Continued support for innovation and growth in the healthcare business.
- Plans to use proceeds from ATM offerings and senior convertible notes to support additional bitcoin purchases.
- Seeking a new 510(k) clearance for QuantaFlo with expanded indications.
- Confidence in bitcoin's long-term potential to maximize stockholder value.
Challenges Ahead
- Risks inherent with investing in bitcoin, including bitcoin's volatility.
- Risk of implementing a new bitcoin treasury strategy.
- Risk that insurance plans and other customers will not continue to license its cardiovascular testing products.
- Risk of changes in the reimbursement landscape for its customers, including related to CMS rate announcements.
- Risk of obtaining a new 510(k) clearance for expanded indications.