2024 Q2 Form 10-Q Financial Statement

#000155485924000017 Filed on May 08, 2024

View on sec.gov

Income Statement

Concept 2024 Q2 2024 Q1
Revenue $14.47M $15.90M
YoY Change -22.25% -12.65%
Cost Of Revenue $1.255M $1.247M
YoY Change 2.95% -1.73%
Gross Profit $13.21M $14.66M
YoY Change -24.02% -13.47%
Gross Profit Margin 91.32% 92.16%
Selling, General & Admin $6.420M $6.542M
YoY Change -23.97% -27.72%
% of Gross Profit 48.6% 44.64%
Research & Development $1.440M $1.138M
YoY Change -18.27% -30.18%
% of Gross Profit 10.9% 7.76%
Depreciation & Amortization $170.0K $176.0K
YoY Change 13.33% 36.43%
% of Gross Profit 1.29% 1.2%
Operating Expenses $6.420M $6.542M
YoY Change -23.97% -27.72%
Operating Profit $5.350M $6.976M
YoY Change -25.49% 11.51%
Interest Expense $842.0K $819.0K
YoY Change 73.25% 117.24%
% of Operating Profit 15.74% 11.74%
Other Income/Expense, Net -$4.213M $821.0K
YoY Change -966.87% 117.77%
Pretax Income $1.137M $7.797M
YoY Change -85.17% 17.55%
Income Tax $1.126M $1.724M
% Of Pretax Income 99.03% 22.11%
Net Earnings $11.00K $6.073M
YoY Change -99.81% 22.22%
Net Earnings / Revenue 0.08% 38.19%
Basic Earnings Per Share $0.00 $0.88
Diluted Earnings Per Share $0.00 $0.78
COMMON SHARES
Basic Shares Outstanding 7.066M 7.031M
Diluted Shares Outstanding 7.795M 7.782M

Balance Sheet

Concept 2024 Q2 2024 Q1
SHORT-TERM ASSETS
Cash & Short-Term Investments $13.43M $62.75M
YoY Change -74.08% 46.05%
Cash & Equivalents $7.332M $62.75M
Short-Term Investments $6.100M
Other Short-Term Assets $2.403M $2.611M
YoY Change -0.62% -5.71%
Inventory $385.0K $408.0K
Prepaid Expenses
Receivables $7.470M $6.132M
Other Receivables $0.00 $0.00
Total Short-Term Assets $23.69M $71.91M
YoY Change -61.0% 29.34%
LONG-TERM ASSETS
Property, Plant & Equipment $2.496M $2.849M
YoY Change -32.3% -24.79%
Goodwill
YoY Change
Intangibles
YoY Change
Long-Term Investments $512.0K $5.884M
YoY Change -91.15% -0.15%
Other Assets $127.0K $249.0K
YoY Change -95.36% -91.16%
Total Long-Term Assets $61.10M $11.95M
YoY Change 315.31% -18.51%
TOTAL ASSETS
Total Short-Term Assets $23.69M $71.91M
Total Long-Term Assets $61.10M $11.95M
Total Assets $84.79M $83.86M
YoY Change 12.36% 19.36%
SHORT-TERM LIABILITIES
YoY Change
Accounts Payable $227.0K $410.0K
YoY Change -55.4% 37.58%
Accrued Expenses $5.086M $4.305M
YoY Change -38.3% -40.26%
Deferred Revenue $840.0K $996.0K
YoY Change -29.29% -22.55%
Short-Term Debt $0.00 $0.00
YoY Change
Long-Term Debt Due
YoY Change
Total Short-Term Liabilities $6.364M $5.903M
YoY Change -36.88% -33.81%
LONG-TERM LIABILITIES
Long-Term Debt $0.00 $0.00
YoY Change
Other Long-Term Liabilities $24.00K $47.00K
YoY Change -79.31% -65.94%
Total Long-Term Liabilities $24.00K $47.00K
YoY Change -79.31% -65.94%
TOTAL LIABILITIES
Total Short-Term Liabilities $6.364M $5.903M
Total Long-Term Liabilities $24.00K $47.00K
Total Liabilities $6.388M $5.950M
YoY Change -37.37% -34.3%
SHAREHOLDERS EQUITY
Retained Earnings $65.89M $65.88M
YoY Change 31.6% 49.08%
Common Stock $7.000K $7.000K
YoY Change 0.0% 0.0%
Preferred Stock
YoY Change
Treasury Stock (at cost)
YoY Change
Treasury Stock Shares
Shareholders Equity $78.40M $77.91M
YoY Change
Total Liabilities & Shareholders Equity $84.79M $83.86M
YoY Change 12.36% 19.36%

Cashflow Statement

Concept 2024 Q2 2024 Q1
OPERATING ACTIVITIES
Net Income $11.00K $6.073M
YoY Change -99.81% 22.22%
Depreciation, Depletion And Amortization $170.0K $176.0K
YoY Change 13.33% 36.43%
Cash From Operating Activities $4.934M $5.624M
YoY Change -55.93% 553.19%
INVESTING ACTIVITIES
Capital Expenditures -$33.00K $4.000K
YoY Change -111.19% -95.79%
Acquisitions
YoY Change
Other Investing Activities -$60.50M
YoY Change -339.47%
Cash From Investing Activities -$60.47M -$81.00K
YoY Change -342.17% -99.56%
FINANCING ACTIVITIES
Cash Dividend Paid
YoY Change
Common Stock Issuance & Retirement, Net
YoY Change
Debt Paid & Issued, Net
YoY Change
Cash From Financing Activities 111.0K 11.00K
YoY Change -105.62% -107.53%
NET CHANGE
Cash From Operating Activities 4.934M 5.624M
Cash From Investing Activities -60.47M -81.00K
Cash From Financing Activities 111.0K 11.00K
Net Change In Cash -55.42M 5.554M
YoY Change -262.1% -131.36%
FREE CASH FLOW
Cash From Operating Activities $4.934M $5.624M
Capital Expenditures -$33.00K $4.000K
Free Cash Flow $4.967M $5.620M
YoY Change -54.44% 633.68%

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<p style="font-family:'Times New Roman','Times','serif';font-size:10pt;padding-bottom:10pt;text-indent:0pt;margin:0pt;"><span style="display:inline-block;width:36pt;"><b style="font-family:'Times New Roman','Times','serif';font-size:10pt;font-style:normal;font-weight:bold;">1.</b></span><b style="font-weight:bold;">Basis of Presentation</b></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;background:#ffffff;margin:0pt;">Semler Scientific, Inc., a Delaware corporation (“Semler” or “the Company”), prepared the unaudited interim financial statements included in this report in accordance with United States generally accepted accounting principles (“GAAP”) and applicable rules and regulations of the Securities and Exchange Commission (“SEC”) for interim financial reporting. Certain information and note disclosures normally included in the financial statements prepared in accordance with GAAP have been condensed or omitted pursuant to such rules and regulations. As such, the information included in this quarterly report on Form 10-Q should be read in conjunction with the audited financial statements and notes thereto included in the Company’s annual report on Form 10-K for the year ended December 31, 2023 filed with the SEC on March 7, 2024 (the “Annual Report”). In the opinion of management, these financial statements include all adjustments (consisting of normal recurring adjustments) necessary for a fair statement of the financial position, results of operations and cash flows for the periods presented. The results of operations for the interim periods shown in this report are not necessarily indicative of the results that may be expected for any future period, including the full year.</p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-indent:18pt;background:#ffffff;margin:0pt;"><span style="visibility:hidden;">​</span></p><p style="font-family:'Times New Roman','Times','serif';font-size:10pt;text-align:justify;text-indent:36pt;margin:0pt;"><span style="font-size:1pt;margin-bottom:10pt;visibility:hidden;">​</span></p>
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