30s Summary
Semler Scientific has continued its Bitcoin investment, adding $2.6 million since October, taking its total Bitcoin portfolio to 1,058 coins, a $71 million investment now valued at $72 million due to Bitcoin’s price rise. This makes Semler Scientific the 17th largest Bitcoin holder among public companies. Semler plans to use operation and sales revenues to buy additional Bitcoin. Despite a 3.44% share price bump following the announcement, Semler’s price has fallen by 32.16% this year. Furthermore, the company recorded a 17% decrease in quarterly revenues, although net income rose by 2%.
Full Article
Semler Scientific has confirmed it’s keeping its steady focus on Bitcoin, adding an extra $2.6 million to its Bitcoin savings since October. These actions follow its third-quarter success. The company’s CEO, Doug Murphy-Chutorian, said during a recent statement that they’re keen on acquiring and holding Bitcoin while also balancing the growth in their healthcare business.
As of November 4, they’ve gathered 1,058 Bitcoin which they’ve spent $71 million purchasing. They bought 141 BTC over the last quarter ending September 30, costing them $8.4 million. Plus, after Q3 ended, they also bought another 40 Bitcoins for $2.6 million. They’ve made a tidy little return from this investment too; it’s now valued at around $72 million because Bitcoin is roughly $68,000 now.
Following these purchases, Semler is now the 17th largest Bitcoin holder among public companies. They even surpassed the Japanese firm, Metaplanet, which owns 1,018.17 BTC.
Semler’s chairman, Eric Semler, has said that amassing Bitcoin is a strategic move to heighten stakeholder value. He went on to say that they plan to use their cash from operations and sales from their ATM program to buy even more. They’re also looking into more financing avenues to buy more Bitcoin.
As a result of all this news, there has been a 3.44% bump in Semler’s share price during after-hours trading on November 4, going up to $31. However, it seems like their price has fallen by 32.16% this year.
Semler’s Q3 results have been a mixed bag compared to last year. They’ve seen their quarterly revenues fall by 17%, decreasing to $13.5 million. Yet, their net income has risen by 2% reaching $5.6 million in comparison to Q3 the previous year.