SMLR - Semler Scientific sinks after first revenue miss in 10 quarters

Semler Scientific (NASDAQ:SMLR) has crashed ~22.9% in the pre-market after the company's Q3 2021 financials fell short of expectations. The Revenue missed the consensus by as much as ~1.1M for the first time in 10 quarters, as shown in the graph below. While revenue rose ~30% YoY to $14.0M, the company warned that Variable fee license revenues (i.e., fee-per-test) had dropped sequentially during the quarter. Having seen a strong rebound in fee license revenues during H1 2021, Semler (SMLR) attributed the decline to the impact of Delta variant or what it identified as “a new seasonality in the home-testing market, which it hasn't seen in prior periods,” or both. However, variable fee software license revenues more than doubled with a rise of ~154% YoY to ~$18.0M during the quarter. Net income expanded ~82% YoY to $15.7M, while cash and cash equivalents stood at $35.9M, compared to $22.1M at the end of 2021. Currently, Wall Street

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Semler Scientific sinks after first revenue miss in 10 quarters