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Semler Reports Second Quarter 2014 Financial Results
Date:7/25/2014

PORTLAND, Ore., July 25, 2014 /PRNewswire/ -- Semler Scientific, Inc. (Nasdaq: SMLR; "Semler"), an emerging medical risk assessment company that develops patented products that assist healthcare providers in monitoring patients and evaluating chronic diseases, today reported financial results for the second quarter and six months ended June 30, 2014.

"The second quarter of 2014 continued to be productive for Semler," said Doug Murphy-Chutorian, M.D., chief executive officer of Semler.  "We attracted seasoned talent to our team, grew revenue, built relationships with insurance plans and progressed in product development."

FINANCIAL RESULTS

In the three months ended June 30, 2014 compared to the corresponding period of 2013, Semler had:

  • Revenue of $846,000, an increase of $371,000, or 78%, compared to $475,000
  • Cost of revenue of $172,000, an increase of $115,000, or 202%, from $57,000
  • Total operating expenses, which includes cost of revenue, of $1,855,000, an increase of $802,000, or 76%, compared to $1,053,000
  • Net loss of $1,032,000 or $0.22 per share, an increase of $419,000, or 68%, compared to a net loss of $613,000, or $0.78 per share

Net cash of $6,554,000 as of June 30, 2014 compared to net cash of $734,000 as of December 31, 2013.

In the six months ended June 30, 2014 compared to the corresponding period of 2013, Semler had:

  • Revenue of $1,683,000 an increase of $779,000, or 86%, compared to $904,000
  • Cost of revenue of $326,000, an increase of $183,000, or 128%, from $143,000
  • Total operating expenses, which includes cost of revenue, of $3,481,000, an increase of $1,457,000, or 72%, compared to $2,024,000
  • Net
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SOURCE Semler Scientific, Inc.
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