Quick Take
Semler Scientific reported Q2 earnings on Aug. 5, which saw revenues of $14.5 million for the second quarter, reflecting a 22% decrease from $18.6 million in the same period last year. Semler Scientific achieved an income from operations of $5.4 million, down 25% from the previous year’s $7.2 million. Total operating expenses decreased by 20% to $9.1 million, while the cost of revenues slightly increased to $1.3 million. Semler’s pre-tax net income saw a substantial drop to $1.1 million, influenced by a $5.1 million negative change in the fair value of its bitcoin holdings.
Semler’s strategic focus on Bitcoin, highlighted by the recent purchase of an additional 101 BTC for $6.0 million, brings its total to 929 BTC purchased for $63 million. This follows earlier purchases totaling $57.0 million since May 2024. CEO Doug Murphy-Chutorian emphasized the company’s commitment to its Bitcoin strategy while continuing to grow its healthcare business.
“We remain laser focused on acquiring and holding bitcoin, while supporting and expanding our healthcare business.”
Eric Semler, the chairman, expressed optimism about the positive market reaction and plans for further acquisitions funded by operational cash flow and securities sales under a $150 million shelf registration.
“We continue to firmly believe that bitcoin is a compelling investment and plan on acquiring additional bitcoins with our cash from operations, as well as with cash generated from the sale of securities under our $150.0 million shelf registration statement, once effective.”
Semler Scientific’s share price fell by 10% on Aug. 5 and is currently trading over 1% lower in pre-market trading.
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