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Semler Scientific, Inc.
11/1/2021
Good day and welcome to the Semler Scientific Third Quarter 2021 Financial Results Conference Call. All participants will be in listen-only mode. Should you need assistance, please signal a conference specialist by pressing the star key followed by zero. After today's presentation, there will be an opportunity to ask questions. To ask a question, you may press star then one on your telephone keypad. To withdraw your question, please press star then two. Please note this event is being recorded. Before we begin, Semler Scientific would like to remind you that this conference call may contain forward-looking statements. Such statements can be identified by words such as may, will, expect, anticipate, intend, estimate, or words with similar meaning. And such statements involve a number of risks and uncertainties that could cause similar scientific actual results to differ materially from those discussed here. These risks include continued uncertainty due to the evolving COVID-19 pandemic, risks associated with similar scientific recent investments in entities with potential complementary products, and new distribution arrangements along with other risks associated with similar scientific business. Please note that these forward-looking statements reflect similar scientific opinions only as of the date of this presentation, and it undertakes no obligation to revise or publicly release the result of any revision to these forward-looking statements in light of new information or future events. Please refer to similar scientific SEC filings for a more detailed description of the risk factors that may affect Similar Scientific's results and these forward-looking statements. I would now like to introduce Doug Murphy-Tutorian, CEO of Similar Scientific. Please go ahead.
Good afternoon, everybody. Thank you for joining us for our third quarter results call. I would like to introduce you to Dennis Rosenberg, our Chief Marketing Officer, who will begin the call for us today. Dennis?
Thanks, Doug. We always like to begin our calls with a reminder about Semmler's strategy. Semmler is a company that provides technology solutions to improve clinical effectiveness and efficiency of healthcare providers. Our mission is to develop, manufacture, and market innovative products that assist our customers in evaluating and treating chronic diseases. We believe that our technology and software solutions enable our customers to identify when preventive care options are appropriate and to intervene before events like heart attacks and strokes occur. We're pleased to report that Semmler's fixed fee license quarterly revenue of approximately $7.8 million and our cash position of $35.9 million at the end of the third quarter of 2021 were the highest in our company's history. I'm sure you all saw that we uplisted to the NASDAQ market last month. We believe this move will enhance liquidity of our shares and could enable the expansion of our stockholder base. There is no plan to raise additional capital at this time. However, we do reserve the right to change our financing plans as opportunity or need arises. Comparing results from the nine months ended September 30th, 2021 to the corresponding period of 2020, the highlights of today's report are as follows. Revenues were higher by 56%, increasing to $41.5 million. Pre-tax net income was higher by 77%, increasing to $17.7 million. Net income was higher by 82%, increasing to $15.7 million. Cash at the end of the quarter was $35.9 million, increasing by $19.1 million. Now, Andy Weinstein, our Senior Vice President of Finance and Accounting, will describe our financial performance in more detail. Andy?
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