|By PR Newswire||
|April 22, 2014 07:00 AM EDT||
PORTLAND, Ore., April 22, 2014 /PRNewswire/ -- Semler Scientific, Inc. (Nasdaq: SMLR; "Semler"), an emerging medical risk-assessment company whose mission is to develop, manufacture and market patented products that identify the risk profile of medical patients to allow healthcare providers to capture full reimbursement potential for their services, today reported financial results for the first quarter ended March 31, 2014.
"The first quarter of 2014 was a productive period for Semler," said Doug Murphy-Chutorian, M.D., chief executive officer of Semler. "We successfully completed our initial public offering in February while growing revenue by 95% compared to the first quarter of 2013."
In the three months ended March 31, 2014 compared to the corresponding period of 2013, Semler had:
- Revenue of $837,000, an increase of $408,000, or 95%, compared to $429,000
- Cost of revenue of $155,000, an increase of $69,000, or 80%, from $86,000
- Total operating expenses, which includes cost of revenue, of $1,627,000, an increase of $656,000, or 68%, compared to $971,000
- Net loss of $817,000, or $0.36 per share, an increase of $246,000, or 43%, compared to a net loss of $571,000, or $0.73 per share
Net cash of $7,612,000 as of March 31, 2014 compared to net cash of $734,000 as of December 31, 2013.
FIRST QUARTER 2014 HIGHLIGHTS
On February 26, 2014, Semler closed the initial public offering of its common stock, pursuant to which it sold an aggregate of 1,430,000 shares of its common stock at a price to the public of $7.00 per share, and received gross proceeds of approximately $10,010,000 before deducting underwriting discounts and commissions and other offering expenses.
"During the first quarter, expenditures were made to increase our sales and marketing efforts, develop new products and pay administrative costs associated with being a public company," said Dr. Murphy-Chutorian. "Our primary focus is to bring in new customers to our expanding base of established clients and to continue our record of outstanding revenue growth on the road to profitability. Our objective is to create a win for patients, payors, physicians and shareholders."
Notice of Conference Call
Semler will host a conference call at 10 a.m. EDT, Tuesday, April 22, 2014. The call will address first quarter results and will provide a business update on the company's market outlook and strategies for 2014.
The conference call may be accessed by dialing 877-359-9508 for domestic callers and 224-357-2393 for international callers. Please specify to the operator that you would like to join the "Semler First Quarter 2014 Financial Results Call, conference ID#: 31468379." The conference call will be archived on Semler's website at semlerscientific.com.
About Semler Scientific, Inc.:
Semler Scientific, Inc. is an emerging medical risk-assessment company. Its mission is to develop, manufacture and market patented products that identify the risk profile of medical patients to allow healthcare providers to capture full reimbursement potential for their services. Semler's first patented and U.S. Food and Drug Administration, or FDA, cleared product, is FloChec®. FloChec® is used in the office setting to allow providers to measure arterial blood flow in the extremities and is a useful tool for internists and primary care physicians for whom it was previously impractical to conduct blood flow measurements. FloChec® received FDA 510(k) clearance in February 2010, Semler began Beta testing in the third quarter of 2010, and Semler began commercially leasing FloChec® in January 2011. Semler closed the initial public offering of its common stock on February 26, 2014 and its common stock is now listed on the NASDAQ Capital Market under the ticker symbol "SMLR." Additonal information about Semler can be found at semlerscientific.com.
Forward Looking Statements:
This press release contains "forward-looking" statements. Such forward-looking statements can be identified by, among other things, the use of forward-looking language, such as the words "expect," "anticipate," "estimate," "project," "may," "would," "could," or other similar words, or the negative of these terms or other variations of these terms or comparable language, or by discussion of strategy or intentions. The forward-looking statements in this release include statements regarding Semler's plans to bring in new customers, expand its client base, continue to grow revenues, its ability to become profitable, and create a win for patients, payors, physicians and shareholders. Such forward-looking statements are subject to various risks, such as Semler's results of operations, the timing and costs of any required clinical studies, and regulatory review of Semler's products, among others, as well as the risks set forth in Semler's most recent filings with the U.S. Securities and Exchange Commission, and involve assumptions, estimates, and uncertainties that reflect current internal projections, expectations or beliefs. There can be no assurance that such statements will prove to be accurate, and actual results and future events could differ materially from those anticipated in such statements. All forward looking statements contained in this press release are qualified in their entirety by these cautionary statements and the risk factors described above. Furthermore, all such statements are made as of the date this release and Semler assumes no obligation to update or revise these statements unless otherwise required by law.
Susan A. Noonan
S.A. Noonan Communications
212 966 3650
SOURCE Semler Scientific, Inc.
SYS-CON Events announced today that robomq.io will exhibit at SYS-CON's @ThingsExpo, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. robomq.io is an interoperable and composable platform that connects any device to any application. It helps systems integrators and the solution providers build new and innovative products and service for industries requiring monitoring or intelligence from devices and sensors.
Apr. 1, 2015 06:00 PM EDT Reads: 1,638
The 17th International Cloud Expo has announced that its Call for Papers is open. 17th International Cloud Expo, to be held November 3-5, 2015, at the Santa Clara Convention Center in Santa Clara, CA, brings together Cloud Computing, APM, APIs, Microservices, Security, Big Data, Internet of Things, DevOps and WebRTC to one location. With cloud computing driving a higher percentage of enterprise IT budgets every year, it becomes increasingly important to plant your flag in this fast-expanding bu...
Apr. 1, 2015 05:15 PM EDT Reads: 657
Today, IT is not just a cost center. IT is an enabler and driver of business. With the emergence of the hybrid cloud paradigm, IT now has increasingly more capabilities to create new strategic opportunities for a business. Hybrid cloud allows an organization to utilize multi-tenant public clouds, dedicated private clouds, bare metal hosting, and the associated support and services for the right use cases through an on-demand, XaaS model. This model of IT creates tremendous opportunities for busi...
Apr. 1, 2015 05:00 PM EDT Reads: 3,499
Business as usual for IT is evolving into a “Make or Buy” decision on a service-by-service conversation with input from the LOBs. How does your organization move forward with cloud? In his general session at 16th Cloud Expo, Paul Maravei, Regional Sales Manager, Hybrid Cloud and Managed Services at Cisco, discusses how Cisco and its partners offer a market-leading portfolio and ecosystem of cloud infrastructure and application services that allow you to uniquely and securely combine cloud busi...
Apr. 1, 2015 04:15 PM EDT Reads: 1,681
Businesses are looking to empower employees and departments to do more, go faster, and streamline their processes. For all workers – but mobile workers especially – utilizing the cloud to reconnect documents and improve processes without destructing existing workflows can have a dramatic impact on productivity. In his session at 16th Cloud Expo, Mark Grilli, vice president of Acrobat Solutions marketing at Adobe Systems Incorporated, will outline new ways that the cloud is changing the way peo...
Apr. 1, 2015 04:00 PM EDT Reads: 1,468
SYS-CON Events announced today that Litmus Automation will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Litmus Automation’s vision is to provide a solution for companies that are in a rush to embrace the disruptive Internet of Things technology and leverage it for real business challenges. Litmus Automation simplifies the complexity of connected devices applications with Loop, a secure and scalable clou...
Apr. 1, 2015 04:00 PM EDT Reads: 817
While not quite mainstream yet, WebRTC is starting to gain ground with Carriers, Enterprises and Independent Software Vendors (ISV’s) alike. WebRTC makes it easy for developers to add audio and video communications into their applications by using Web browsers as their platform. But like any market, every customer engagement has unique requirements, as well as constraints. And of course, one size does not fit all. In her session at WebRTC Summit, Dr. Natasha Tamaskar, Vice President, Head of C...
Apr. 1, 2015 03:45 PM EDT Reads: 737
With the arrival of the Big Data revolution, a data professional is expected to master a broad spectrum of complex domains including data processing, mathematics, programming languages, machine learning techniques, and business knowledge. While this mastery is undoubtedly important, this narrow focus on tool usage has divorced many from the imagination required to solve real-world problems. As the demand for analysis increases, the data science community must transform from tool experts to "data...
Apr. 1, 2015 03:45 PM EDT Reads: 867
As Marc Andreessen says software is eating the world. Everything is rapidly moving toward being software-defined – from our phones and cars through our washing machines to the datacenter. However, there are larger challenges when implementing software defined on a larger scale - when building software defined infrastructure. In his session at 16th Cloud Expo, Boyan Ivanov, CEO of StorPool, will provide some practical insights on what, how and why when implementing "software-defined" in the dat...
Apr. 1, 2015 03:45 PM EDT Reads: 678
SYS-CON Events announced today that MangoApps will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY., and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. MangoApps provides private all-in-one social intranets allowing workers to securely collaborate from anywhere in the world and from any device. Social, mobile, and eas...
Apr. 1, 2015 03:00 PM EDT Reads: 3,286
SYS-CON Events announced today that Emcien will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. Emcien’s vision is to let anyone use data to know the future. Emcien has built an automated, predictive analysis product that improves the lives of real people. Emcien allows people to automate their data analysis so they can build a better future.
Apr. 1, 2015 03:00 PM EDT Reads: 887
SYS-CON Events announced today that Solgenia will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY, and the 17th International Cloud Expo®, which will take place on November 3–5, 2015, at the Santa Clara Convention Center in Santa Clara, CA. Solgenia is the global market leader in Cloud Collaboration and Cloud Infrastructure software solutions. Designed to “Bridge the Gap” between Personal and Professional S...
Apr. 1, 2015 03:00 PM EDT Reads: 3,116
WSM International has launched a DevOps services division that offers assessment, consulting and implementation to large enterprises and organizations with complex infrastructures. The concept of DevOps is to blend information technology (IT) software development with operations to optimize the computing infrastructure according to the specific needs of the organization. According to a recent press release from Gartner, "By 2016, DevOps will evolve from a niche strategy employed by large cloud ...
Apr. 1, 2015 03:00 PM EDT Reads: 1,484
SYS-CON Events announced today that QTS Realty Trust, one of the nation’s largest and fastest-growing providers of data center facilities and cloud services and a leader in security and compliance, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. QTS Realty Trust, Inc. (NYSE: QTS) is a leading national provider of data center solutions and fully managed services, and a leader in security and compliance...
Apr. 1, 2015 03:00 PM EDT Reads: 1,428
SYS-CON Events announced today that WSM International (WSM), the world’s leading cloud and server migration services provider, will exhibit at SYS-CON's 16th International Cloud Expo®, which will take place on June 9-11, 2015, at the Javits Center in New York City, NY. WSM is a solutions integrator with a core focus on cloud and server migration, transformation and DevOps services.
Apr. 1, 2015 03:00 PM EDT Reads: 1,473