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Semler Scientific, Inc. (Nasdaq: SMLR) is an innovative medical risk-assessment company focused on developing, manufacturing, and marketing diagnostic and testing products that enhance patient care while bridging the gap between the cost of care and its compensation. Listed on Nasdaq since February 26, 2014, Semler operates primarily in the United States, offering proprietary technology solutions that improve clinical effectiveness and efficiency for healthcare providers, insurance plans, and risk assessment groups.
Semler's flagship product, QuantaFlo®, is a rapid, in-office test for measuring arterial blood flow in the extremities. This four-minute test aids in diagnosing peripheral arterial disease (PAD) and heart dysfunction (HD). QuantaFlo® is FDA-cleared and is employed by healthcare providers to evaluate patients' risks of mortality and major adverse cardiovascular events (MACE).
Beyond QuantaFlo®, Semler Scientific has made strategic alliances and investments to expand its product portfolio. The company has an exclusive marketing and distribution agreement with Mellitus Health, Inc. for Insulin Insights™, an FDA-cleared software product that recommends optimal insulin dosing for diabetic patients. Additionally, Semler holds minority investments in Mellitus, Monarch Medical Technologies LLC (developer of EndoTool® for inpatient glycemic management), and SYNAPS Dx.
In the latest financial results for Q3 2023, Semler reported consistent growth in quarterly revenue and pre-tax net income, predominantly from QuantaFlo® sales. The company continues to focus on expanding its business into heart dysfunction diagnosis.
Semler has also recently adopted Bitcoin as its primary treasury reserve asset, reflecting a strategic move to leverage the digital currency for long-term value and as a hedge against inflation. As of June 6, 2024, the company holds 828 bitcoins, underscoring its commitment to this innovative investment strategy.
More detailed information about Semler Scientific, its products, and investment strategies can be found on their website.
Semler Scientific (Nasdaq: SMLR) has adopted bitcoin as its primary treasury reserve asset, purchasing 581 bitcoins for $40 million. Chairman Eric Semler stated that bitcoin's scarcity and digital resilience make it a superior store of value and a potential hedge against inflation compared to gold. The SEC's approval of bitcoin exchange-traded funds and institutional investments validate this strategy. Despite the bitcoin focus, Semler will continue prioritizing its core medical products, particularly QuantaFlo® for peripheral arterial disease testing, while seeking FDA clearance for expanded labeling. Bitcoin holdings will be subject to market conditions and cash needs.
Semler Scientific, Inc. reported $15.9 million in revenue for the first quarter of 2024, a 13% decrease from the same period in 2023. Net income increased by 22% to $6.1 million. The company's cash balance rose to $62.9 million. Despite revenue decline from the PAD product, the CEO remains optimistic about future revenue growth pending FDA clearance for a new product. Semler Scientific also achieved year-over-year net income growth and a record cash balance.
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