|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 Hitachi, the leading provider the Internet of Things and Digital Transformation, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Hitachi Data Systems, a wholly owned subsidiary of Hitachi, Ltd., offers an integrated portfolio of services and solutions that enable digital transformation through enhanced data management, governance, mobility and analytics. We help globa...
Apr. 27, 2017 08:45 AM EDT Reads: 1,220
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm. In his Day 3 Keynote at 20th Cloud Expo, Chris Brown, a Solutions Marketing Manager at Nutanix, will explore t...
Apr. 27, 2017 08:45 AM EDT Reads: 754
As pervasive as cloud technology is -- and as persuasive as the arguments are for using it -- the cloud has its limits. Some companies will always have security concerns about storing data in the cloud and certain high-transaction applications will always be better suited for on-premises storage. Those statements were among the bottom-line takeaways delivered at Cloud Expo this week, a three day, bi-annual event focused on cloud technologies, adoption and associated challenges.
Apr. 27, 2017 08:45 AM EDT Reads: 4,007
The age of Digital Disruption is evolving into the next era – Digital Cohesion, an age in which applications securely self-assemble and deliver predictive services that continuously adapt to user behavior. Information from devices, sensors and applications around us will drive services seamlessly across mobile and fixed devices/infrastructure. This evolution is happening now in software defined services and secure networking. Four key drivers – Performance, Economics, Interoperability and Trust ...
Apr. 27, 2017 08:45 AM EDT Reads: 693
SYS-CON Events announced today that Hitachi Data Systems, a wholly owned subsidiary of Hitachi LTD., will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City. Hitachi Data Systems (HDS) will be featuring the Hitachi Content Platform (HCP) portfolio. This is the industry’s only offering that allows organizations to bring together object storage, file sync and share, cloud storage gateways, and sophisticated search an...
Apr. 27, 2017 08:00 AM EDT Reads: 574
DevOps is often described as a combination of technology and culture. Without both, DevOps isn't complete. However, applying the culture to outdated technology is a recipe for disaster; as response times grow and connections between teams are delayed by technology, the culture will die. A Nutanix Enterprise Cloud has many benefits that provide the needed base for a true DevOps paradigm.
Apr. 27, 2017 08:00 AM EDT Reads: 977
While some vendors scramble to create and sell you a fancy solution for monitoring your spanking new Amazon Lambdas, hear how you can do it on the cheap using just built-in Java APIs yourself. By exploiting a little-known fact that Lambdas aren’t exactly single threaded, you can effectively identify hot spots in your serverless code. In his session at 20th Cloud Expo, David Martin, Principal Product Owner at CA Technologies, will give a live demonstration and code walkthrough, showing how to o...
Apr. 27, 2017 07:15 AM EDT Reads: 590
SYS-CON Events announced today that CollabNet, a global leader in enterprise software development, release automation and DevOps solutions, will be a Bronze Sponsor of SYS-CON's 20th International Cloud Expo®, taking place from June 6-8, 2017, at the Javits Center in New York City, NY. CollabNet offers a broad range of solutions with the mission of helping modern organizations deliver quality software at speed. The company’s latest innovation, the DevOps Lifecycle Manager (DLM), supports Value S...
Apr. 27, 2017 07:00 AM EDT Reads: 1,072
"Peak 10 is a national cloud data center solutions managed services provider, and part of that is disaster recovery. We see a growing trend in the industry where companies are coming to us looking for assistance in their DR strategy," stated Andrew Cole, Director of Solutions Engineering at Peak 10, in this SYS-CON.tv interview at 18th Cloud Expo, held June 7-9, 2016, at the Javits Center in New York City, NY.
Apr. 27, 2017 06:30 AM EDT Reads: 11,751
@GonzalezCarmen has been ranked the Number One Influencer and @ThingsExpo has been named the Number One Brand in the “M2M 2016: Top 100 Influencers and Brands” by Analytic. Onalytica analyzed tweets over the last 6 months mentioning the keywords M2M OR “Machine to Machine.” They then identified the top 100 most influential brands and individuals leading the discussion on Twitter.
Apr. 27, 2017 05:30 AM EDT Reads: 1,214
SYS-CON Events announced today that Juniper Networks (NYSE: JNPR), an industry leader in automated, scalable and secure networks, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Juniper Networks challenges the status quo with products, solutions and services that transform the economics of networking. The company co-innovates with customers and partners to deliver automated, scalable and secure network...
Apr. 27, 2017 05:15 AM EDT Reads: 1,376
SYS-CON Events announced today that Super Micro Computer, Inc., a global leader in compute, storage and networking technologies, will exhibit at SYS-CON's 20th International Cloud Expo®, which will take place on June 6-8, 2017, at the Javits Center in New York City, NY. Supermicro (NASDAQ: SMCI), the leading innovator in high-performance, high-efficiency server technology, is a premier provider of advanced server Building Block Solutions® for Data Center, Cloud Computing, Enterprise IT, Hadoop/...
Apr. 27, 2017 05:00 AM EDT Reads: 2,291
Amazon has gradually rolled out parts of its IoT offerings in the last year, but these are just the tip of the iceberg. In addition to optimizing their back-end AWS offerings, Amazon is laying the ground work to be a major force in IoT – especially in the connected home and office. Amazon is extending its reach by building on its dominant Cloud IoT platform, its Dash Button strategy, recently announced Replenishment Services, the Echo/Alexa voice recognition control platform, the 6-7 strategic...
Apr. 27, 2017 04:45 AM EDT Reads: 5,436
Judith Hurwitz is president and CEO of Hurwitz & Associates, a Needham, Mass., research and consulting firm focused on emerging technology, including big data, cognitive computing and governance. She is co-author of the book Cognitive Computing and Big Data Analytics, published in 2015. Her Cloud Expo session, "What Is the Business Imperative for Cognitive Computing?" is scheduled for Wednesday, June 8, at 8:40 a.m. In it, she puts cognitive computing into perspective with its value to the busin...
Apr. 27, 2017 03:45 AM EDT Reads: 3,715
The explosion of new web/cloud/IoT-based applications and the data they generate are transforming our world right before our eyes. In this rush to adopt these new technologies, organizations are often ignoring fundamental questions concerning who owns the data and failing to ask for permission to conduct invasive surveillance of their customers. Organizations that are not transparent about how their systems gather data telemetry without offering shared data ownership risk product rejection, regu...
Apr. 27, 2017 03:45 AM EDT Reads: 1,578