This conference call transcript was computer generated and almost certianly contains errors. This transcript is provided for information purposes only.EarningsCall, LLC makes no representation about the accuracy of the aforementioned transcript, and you are cautioned not to place undue reliance on the information provided by the transcript.

Semler Scientific, Inc.
11/4/2024
Good afternoon, everyone, and welcome to the Semler Scientific Third Quarter 2024 Financial Results Conference Call. All participants will be in a listen-only mode. After today's prepared remarks, as time permits, management will take questions submitted prior to this call via email. Please note this event is being recorded. Before we begin, Semler Scientific needs to remind you that certain comments made during this call may constitute forward-looking statements and are made pursuant to and within the meaning of the safe harbor provisions of the Private Securities Litigation Reform Act of 1995 as amended. These include statements regarding the expectations for expansion of the business, the development and marketing of additional products, including receipt and timing of an additional 510K clearance for Quantiflow and our recently adopted Bitcoin treasury strategy that plans to acquire additional Bitcoins. Such forward-looking statements are subject to both known and unknown risks and uncertainties that could cause actual results to differ materially from such statements. Those risks and uncertainties are described in the press release and our SEC files. The forward-looking statements made today are as of the date of this call. The company does not undertake any obligation to update forward-looking statements. If you do not have a copy of today's release, You can obtain one by visiting the investor relations page of the website, www.summerscientific.com. Now I'd like to introduce Doug Murphy-Tortorium, CEO of Summerscientific.
Good afternoon, everyone. Thank you for joining us for our third quarter 2024 results call. Once again, we retrieved a strong income from operations and used most of our cash and cash increments to buy Bitcoin. As of November 5th, 2024, we hold 1,058 Bitcoins. And now I will turn the call over to Eric Sumner, our chairman, who will provide you with an update on our Bitcoin strategy. Eric?
Thank you, Doug, and thank you to all our shareholders for listening in today. With our third quarter results, we are very pleased to announce the excellent progress we are making with our strategy of accumulating Bitcoin using both our strong operating cash flow and our ATM program. We have added meaningfully to our Bitcoin per share. As an operating business, we're able to use cash flows as well as proceeds from equity issuances to acquire Bitcoin. which serves as our primary treasury reserve asset. We view our $71 million of Bitcoin purchases to date as highly accretive to our equity. Since announcing our Bitcoin treasury reserve strategy in May, we have even greater confidence today in the investment upside of Bitcoin and the unique opportunity we have to use our balance sheet to drive outside returns in our stock. We intend to continue to use our operating cash and ATM to buy more Bitcoin. We will act prudently and use our ATM when we believe it is accretive to do so. Furthermore, we are exploring a wide range of additional financing options to raise more cash to acquire more Bitcoin. All financing options will be thoroughly evaluated and pursued methodically and responsibly. Now, I'm pleased to introduce our COO, Jennifer Oliva Harrington, to provide an overview and update of our core medical products and services business. Jen?
You're reading a preview of the SMLR Q3 2024 earnings call.
Free account.