SMLR - Semler stock slumps 36% on slashed FY22 outlook as Q3 net income falls

• Semler Scientific ( NASDAQ: SMLR ) stock plunged ~36% on Wednesday after Q3 net income fell and the company reduced its FY22 outlook.
• Q3 net income declined -11.45% Y/Y to ~$3.68M. GAAP EPS was $0.46 for Q3 2021.
• Revenue was largely flat Y/Y to $14.05M.
• Total operating expenses increased to $9.58M, compared to $8.74M in Q3 2021.
• Semler had cash and cash equivalents of $45.5M as of Sept. 30, compared to $37.3M as of Dec. 31, 2021.
• Outlook 2022 :
• The company cut its full year 2022 revenue outlook and now expects to be between $55.5M and $58M (prior forecast $58M to $60M) consensus revenue estimate from one analyst is $57.06M.
• Operating expenses will now range between $38.8M and $40.3M (prior outlook $42.5M to $44M). Semler said the guidance indicates less spending than previously expected due to greater expense management to be achieved during 2022.

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