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Semler Scientific (SMLR)
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Semler Scientific (SMLR) AI Stock Analysis

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SMLR

Semler Scientific

(NASDAQ:SMLR)

Rating:61Neutral
Price Target:
$38.00
▲(5.18% Upside)
Semler Scientific's overall score reflects strong profitability and strategic Bitcoin investments, but is tempered by operational inefficiencies, declining healthcare revenue, and bearish technical indicators. The company's valuation is reasonable, but liquidity concerns and market momentum remain challenges.
Positive Factors
Bitcoin Strategy
Semler Scientific's strategic pivot to adopt bitcoin as its primary treasury reserve asset has sparked a significant increase in its stock price.
Product Potential
Semler Scientific's rapid point-of-care test, QuantaFlo, could become the standard-of-care for early detection of peripheral artery disease (PAD).
Valuation
Semler Scientific's shares are trading near parity to the value of its bitcoin holdings, indicating an inexpensive valuation.
Negative Factors
Revenue Decline
The medical device business is experiencing declining revenue due to reimbursement cuts, not product issues.
Valuation Gap
Despite the increase in stock price, Semler Scientific's valuation has lagged behind its peers that have also focused on bitcoin acquisition.

Semler Scientific (SMLR) vs. SPDR S&P 500 ETF (SPY)

Semler Scientific Business Overview & Revenue Model

Company DescriptionSemler Scientific, Inc. provides technology solutions to improve the clinical effectiveness and efficiency of healthcare providers in the United States. The company's products include QuantaFlo, a four-minute in-office blood flow test that enables healthcare providers to use blood flow measurements as part of their examinations of a patient's vascular condition. Its products serve cardiologists, internists, nephrologists, endocrinologists, podiatrists, and family practitioners, as well as healthcare insurance plans, integrated delivery networks, independent physician groups, and companies contracting with the healthcare industry, such as risk assessment groups. The company offers its products through salespersons and distributors. Semler Scientific, Inc. was incorporated in 2007 and is headquartered in Santa Clara, California.
How the Company Makes MoneySemler Scientific generates revenue primarily through the sale of its diagnostic devices and software solutions to healthcare providers, including hospitals and clinics. The company operates on a direct sales model, where it markets its products to end-users in the healthcare industry. Additionally, Semler may earn recurring revenue through subscription services associated with its software, as well as through partnerships with healthcare organizations that integrate its technology into their patient management systems. The company's ability to establish strategic partnerships with key players in the healthcare market further bolsters its revenue potential and market reach.

Semler Scientific Earnings Call Summary

Earnings Call Date:Aug 04, 2025
(Q2-2025)
|
% Change Since: 2.15%|
Next Earnings Date:Nov 06, 2025
Earnings Call Sentiment Neutral
The earnings call highlights significant achievements in Bitcoin acquisitions and unrealized gains, contributing to a strong net income. However, these are offset by notable declines in healthcare revenue and operating losses, along with legal expenses. The company's dual focus on Bitcoin and healthcare presents both opportunities and challenges.
Q2-2025 Updates
Positive Updates
Strong Bitcoin Acquisition and Unrealized Gains
Semler Scientific reported acquiring approximately $195 million of Bitcoin during Q2 2025, bringing total holdings to $586 million. The company achieved a 300% positive Bitcoin yield since adopting the Bitcoin standard, resulting in a BTC dollar gain of $195 million.
Record Net Income
The company reported GAAP net income of $66.9 million or $5.04 per fully diluted share for Q2 2025, despite operating expenses exceeding revenues.
Strategic Expansion in Bitcoin Operations
The company appointed Natalie Brunell and Joe Burnett to strengthen its Bitcoin team, with notable contributions to its Bitcoin strategy and operations.
Growth in Investor Base
The number of stockholders increased from approximately 11,000 in 2023 to over 32,000 in 2025, reflecting expanded investor interest.
Negative Updates
Decline in Healthcare Revenue
Total revenues in Q2 2025 were $8.2 million, down from the previous year due to the phase-in of the 2024 CMS rate announcement affecting PAD patient reimbursement.
Operating Losses
The company reported a loss from operations of $1.2 million in Q2 2025, attributed to decreased device usage and higher operating expenses.
Legal Expenses Related to DOJ Settlement
The company incurred $0.5 million in legal expenses related to a DOJ settlement agreement in principle for a civil investigative demand.
Company Guidance
During the Semler Scientific Second Quarter 2025 Financial Results Conference Call, the company outlined its strategic guidance with a focus on expanding its Bitcoin treasury and enhancing its health care business. Semler Scientific reported a GAAP net income of $66.9 million or $5.04 per fully diluted share, achieving a 31% Bitcoin yield and acquiring 2,723 Bitcoin in 2025, valued at approximately $586 million by July 31. The company plans to hold 10,000 Bitcoin by year-end 2025, 42,000 by 2026, and 105,000 by 2027. Their health care business generated significant cash flow in 2024, with $24 million, supporting their Bitcoin acquisition strategy. Semler also highlighted ongoing efforts for new product launches within its subsidiary, CardioVanta, and their proactive capital market activities, including ATM offerings and convertible bonds, to fund these endeavors.

Semler Scientific Financial Statement Overview

Summary
Semler Scientific faces financial headwinds, with declining revenues and profitability impacting its income statement. The balance sheet remains relatively stable, but increased leverage is a concern. Cash flow challenges are evident, with negative free cash flow due to high capital expenditures. Overall, the company needs to address operational inefficiencies and manage debt levels to improve financial health.
Income Statement
45
Neutral
The income statement shows a concerning decline in revenue and profitability. The TTM (Trailing-Twelve-Months) data indicates a negative net income and EBIT, reflecting operational challenges. The gross profit margin remains high at approximately 91%, but the net profit margin has turned negative due to significant expenses or losses. Revenue growth has been inconsistent, with a notable decline from the previous year.
Balance Sheet
60
Neutral
The balance sheet reveals a strong equity position, with an equity ratio of approximately 55% in TTM. However, there is a significant increase in total debt, leading to a higher debt-to-equity ratio, which could pose financial risks. Despite this, the company maintains a solid asset base, which provides some stability.
Cash Flow
50
Neutral
Cash flow analysis shows a negative free cash flow in TTM, driven by substantial capital expenditures. The operating cash flow remains positive, indicating the company can generate cash from its core operations. However, the free cash flow to net income ratio is unfavorable, reflecting cash flow challenges.
BreakdownTTMDec 2024Dec 2023Dec 2022Dec 2021Dec 2020
Income Statement
Total Revenue42.98M56.29M68.18M56.69M53.03M38.60M
Gross Profit39.04M51.53M61.20M52.43M46.91M35.25M
EBITDA-23.00M21.51M23.28M17.79M19.45M15.96M
Net Income37.05M40.90M20.58M14.32M17.22M14.01M
Balance Sheet
Total Assets522.60M239.83M78.06M62.69M50.67M34.64M
Cash, Cash Equivalents and Short-Term Investments13.48M14.92M57.20M43.09M37.32M22.08M
Total Debt96.25M70.00K160.00K245.00K325.00K332.00K
Total Liabilities102.42M9.08M6.27M7.02M5.13M4.85M
Stockholders Equity383.41M230.75M71.80M55.68M45.55M29.79M
Cash Flow
Free Cash Flow-117.24M24.36M20.50M15.30M15.23M14.36M
Operating Cash Flow12.46M24.41M21.33M17.46M16.06M15.42M
Investing Cash Flow-366.41M-189.98M18.40M-26.84M-825.00K-1.31M
Financing Cash Flow360.10M117.19M-5.41M-4.94M13.00K230.00K

Semler Scientific Technical Analysis

Technical Analysis Sentiment
Negative
Last Price36.13
Price Trends
50DMA
37.62
Negative
100DMA
37.01
Negative
200DMA
43.52
Negative
Market Momentum
MACD
-0.97
Positive
RSI
44.82
Neutral
STOCH
49.48
Neutral
Evaluating momentum and price trends is crucial in stock analysis to make informed investment decisions. For SMLR, the sentiment is Negative. The current price of 36.13 is below the 20-day moving average (MA) of 38.64, below the 50-day MA of 37.62, and below the 200-day MA of 43.52, indicating a bearish trend. The MACD of -0.97 indicates Positive momentum. The RSI at 44.82 is Neutral, neither overbought nor oversold. The STOCH value of 49.48 is Neutral, not indicating any strong overbought or oversold conditions. Overall, these indicators collectively point to a Negative sentiment for SMLR.

Semler Scientific Risk Analysis

Semler Scientific disclosed 50 risk factors in its most recent earnings report. Semler Scientific reported the most risks in the "Finance & Corporate" category.
Finance & Corporate - Financial and accounting risks. Risks related to the execution of corporate activity and strategy
Latest Risks Added 0 New Risks

Semler Scientific Peers Comparison

Overall Rating
UnderperformOutperform
Sector (51)
Financial Indicators
Name
Overall Rating
Market Cap
P/E Ratio
ROE
Dividend Yield
Revenue Growth
EPS Growth
73
Outperform
$273.75M19.737.64%6.15%-54.24%
64
Neutral
$393.42M-25.57%-1.36%-479.49%
61
Neutral
$534.89M14.8816.04%-30.39%46.15%
61
Neutral
$305.83M-76.21%23.22%9.54%
54
Neutral
$506.34M-15.36%-0.02%-1196.44%
51
Neutral
$7.35B-0.20-44.53%2.35%30.18%-1.17%
48
Neutral
$403.59M-102.61%5.94%25.16%
* Healthcare Sector Average
Performance Comparison
Ticker
Company Name
Price
Change
% Change
SMLR
Semler Scientific
36.13
8.62
31.33%
SRDX
SurModics
35.41
-5.63
-13.72%
CLPT
ClearPoint Neuro
10.82
1.04
10.63%
SENS
Senseonics Holdings
0.50
0.12
31.58%
TCMD
Tactile Systems Technology
12.28
-0.69
-5.32%
VREX
Varex Imaging
9.48
-1.30
-12.06%

Semler Scientific Corporate Events

Private Placements and FinancingBusiness Operations and Strategy
Semler Scientific Acquires Bitcoin Amid Equity Offering
Positive
Jul 24, 2025

Semler Scientific has announced updates regarding its financial activities, including a Controlled Equity Offering℠ Sales Agreement entered on April 15, 2025, allowing the company to issue and sell up to $500 million of its common stock. By July 23, 2025, the company had raised approximately $194.3 million through this program. Additionally, Semler Scientific acquired 175 Bitcoin between July 17 and July 23, 2025, using proceeds from the ATM offering, and held a total of 5,021 Bitcoin valued at $594.8 million as of July 23, 2025. The company reported a BTC Yield of 31.3% year-to-date, indicating a strategic focus on enhancing shareholder value through Bitcoin investments.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Product-Related AnnouncementsRegulatory Filings and Compliance
Semler Scientific Launches Bitcoin Holdings Dashboard
Neutral
Jul 17, 2025

Semler Scientific has launched a dashboard on its website to disclose information about its Bitcoin holdings, market data, and related key performance indicators. This initiative aims to ensure compliance with disclosure regulations and provide transparency to investors and stakeholders.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Product-Related AnnouncementsRegulatory Filings and Compliance
Semler Scientific Launches Bitcoin Holdings Dashboard
Neutral
Jul 7, 2025

Semler Scientific has launched a website dashboard to disclose information about its Bitcoin holdings, market data, and key performance indicators to comply with Regulation FD. This initiative aims to provide transparent and broad distribution of material information, encouraging investors to regularly review the updates.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Private Placements and FinancingBusiness Operations and Strategy
Semler Scientific Launches CardioVanta Subsidiary for Healthcare
Neutral
Jun 24, 2025

On June 24, 2025, Semler Scientific announced the creation of CardioVanta, Inc., a wholly-owned subsidiary dedicated to its future healthcare business activities. This strategic move aims to enhance the company’s focus on early detection of heart-related conditions and involves seeking external investment to support its initial capital requirements, potentially impacting its market positioning and stakeholder interests.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Semler Scientific Updates Bylaws for Compliance Clarity
Neutral
Jun 23, 2025

On June 22, 2025, Semler Scientific‘s board of directors approved the Fifth Amended and Restated Bylaws, effective immediately. This amendment was made to clarify compliance with Delaware General Corporation Law and to align with the company’s certificate of incorporation, potentially impacting corporate governance and operational clarity.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Executive/Board ChangesPrivate Placements and FinancingBusiness Operations and Strategy
Semler Scientific Appoints Joe Burnett for Bitcoin Strategy
Positive
Jun 20, 2025

On June 19, 2025, Semler Scientific, Inc. announced the appointment of Joe Burnett as director of Bitcoin strategy. The company also revealed its ambitious plan to acquire 10,000 Bitcoins by the end of 2025, 42,000 by the end of 2026, and 105,000 by the end of 2027, utilizing funds from equity and debt financings as well as cash flows from operations.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Semler Scientific Updates Bylaws for Governance Efficiency
Neutral
Jun 4, 2025

On June 4, 2025, Semler Scientific, Inc.’s board of directors approved and adopted its Fourth Amended and Restated Bylaws to align with the current Delaware General Corporation Law. This update reflects changes such as the removal of the requirement for a stockholder list during meetings and the elimination of restrictions on actions without meetings, potentially streamlining corporate governance processes.

The most recent analyst rating on (SMLR) stock is a Buy with a $71.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Business Operations and StrategyRegulatory Filings and Compliance
Semler Scientific Acquires 185 Bitcoin for $20 Million
Positive
Jun 4, 2025

Semler Scientific has established a dashboard on its website to disclose information about its Bitcoin holdings and related financial metrics, aiming to provide transparency and comply with regulatory obligations. Between May 23 and June 3, 2025, the company acquired 185 Bitcoin for $20 million, bringing its total holdings to 4,449 Bitcoin, valued at $472.9 million, and reported a BTC Yield of 26.7% year-to-date, reflecting its strategy to enhance shareholder value through Bitcoin investments.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Private Placements and FinancingBusiness Operations and StrategyFinancial Disclosures
Semler Scientific’s Recent Bitcoin Acquisition and Stock Offering
Neutral
May 23, 2025

Semler Scientific announced its recent financial activities, including an at-the-market offering program initiated on April 15, 2025, allowing the company to issue and sell up to $500 million of its common stock. By May 22, 2025, the company had raised approximately $114.8 million through this program. Additionally, between May 13 and May 22, 2025, Semler Scientific acquired 455 Bitcoin for $50 million, bringing its total Bitcoin holdings to 4,264, valued at $474.4 million as of May 22, 2025. The company reported a BTC Yield of 25.8% year-to-date, which it uses as a key performance indicator to evaluate the effectiveness of its Bitcoin acquisition strategy.

The most recent analyst rating on (SMLR) stock is a Buy with a $71.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Executive/Board ChangesBusiness Operations and Strategy
Semler Scientific Appoints Natalie Brunell to Board
Neutral
May 19, 2025

On May 15, 2025, Semler Scientific‘s Board of Directors appointed Ms. Natalie Brunell to fill a vacancy in Class II, effective immediately, and to serve on the Bitcoin Strategy Committee. Ms. Brunell received stock options as part of her compensation, and Semler Scientific entered into a standard indemnification agreement with her, ensuring protection against certain legal expenses.

The most recent analyst rating on (SMLR) stock is a Buy with a $40.00 price target. To see the full list of analyst forecasts on Semler Scientific stock, see the SMLR Stock Forecast page.

Glossary
BuyA stock rated as a "Buy" is expected to perform better than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock is likely to deliver higher returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
HoldA stock rated as a "Hold" is expected to perform in line with the overall market or a specific benchmark. This rating indicates that the stock is neither particularly compelling nor unfavorable for investment. Note: This is not investment advice; please consult a financial advisor before making investment decisions.
SellA stock rated as a "Sell" is expected to perform worse than the overall market or a specific benchmark over the near-to-medium term. This rating suggests the stock may deliver lower returns compared to other stocks in the same sector or market index. Note: This is not investment advice; please consult a financial advisor before making investment decisions.

Disclaimer

This AI Analyst Stock Report is automatically generated by our AI systems using advanced algorithms and publicly available financial, technical, and market data. While the information provided aims to be accurate and insightful, it is intended for informational purposes only and should not be considered financial advice. Any content created by an AI (Artificial Intelligence) system may contain inaccuracies and/or contain errors. Investing in stocks carries inherent risks, and past performance is not indicative of future results. This report does not account for your personal financial circumstances, objectives, or risk tolerance. Always conduct your own research or consult with a qualified financial advisor before making investment decisions. The analysis and recommendations provided are based on historical and current data and may not fully reflect future market conditions or unexpected developments. Neither the creators of this report nor its affiliated entities guarantee the accuracy, completeness, or reliability of the information presented. Use this report at your own discretion and risk.Date of analysis: Aug 11, 2025