SMLR - Semler slumps on Q1 earnings miss; B. Riley cuts PT says 2022 is investment year for co

Semler Scientific (NASDAQ:SMLR) stock has slid 24.1% to $35.94 in Tuesday late afternoon trade, after the healthcare technology products company posted Q1 2022 earnings that missed expectations. SMLR's Q1 GAAP EPS of $0.41 missed estimates by $0.07 while revenue of ~$14M fell short by $500K. B. Riley analyst Marc Wiesenberger lowered SMLR's price target to $60 from $70 and kept a buy rating on the stock. SMLR chief marketing officer Dennis Rosenberg on the earnings conference call said the company saw relatively slower growth in Y/Y terms partly due to the impact of the Omicron coronavirus variant. Semler's Q1 total operating expenses jumped 40.6% to $10.1M. Rosenberg said operating expenses are expected to increase from these levels due to wage inflation pressure and costs to build infrastructure. B. Riley's Wiesenberger said that it has become clear that 2022 is an investment year for SMLR. Semler also issued guidance for the

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Semler slumps on Q1 earnings miss; B. Riley cuts PT, says 2022 is investment year for co