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Semler Scientific, Inc. (NASDAQ:SMLR), a company specializing in electromedical and electrotherapeutic apparatus with impressive gross profit margins of 91%, has disclosed its recent financial activities through an 8-K filing with the Securities and Exchange Commission. The document, dated May 23, 2025, outlines the company’s use of an at-the-market (ATM) offering program and its investment in Bitcoin as part of its capital allocation strategy. According to InvestingPro analysis, the company’s current market capitalization stands at $501 million, though its shares are currently trading above their Fair Value.
As of May 22, 2025, Semler Scientific has raised approximately $114.8 million in net proceeds by issuing and selling 3,003,488 shares of its common stock under a Controlled Equity Offering Sales Agreement. This agreement involves multiple financial institutions, including Barclays (LON:BARC) Capital Inc. and Cantor Fitzgerald & Co., and allows the company to sell up to $500.0 million of its common stock over time.
Furthermore, Semler Scientific has been actively investing in Bitcoin. Between May 13 and May 22, 2025, the company acquired 455 Bitcoin for $50.0 million, with an average purchase price of $109,801 per Bitcoin, inclusive of fees and expenses. This purchase was funded using the proceeds from the ATM offering. As a result, Semler Scientific’s total Bitcoin holdings have reached 4,264, acquired at an aggregate cost of $390.0 million and an average price of $91,471 per Bitcoin. These holdings had a market value of $474.4 million based on the Coinbase (NASDAQ:COIN) exchange price as of the close of business on the reporting date. The company’s strategic moves appear to be paying off, with InvestingPro data showing a remarkable 96% return over the past year and a recent 10% gain in the last week.
The company has also introduced Bitcoin Yield as a Key Performance Indicator (KPI) to evaluate the effectiveness of its Bitcoin acquisition strategy. As of May 22, 2025, Semler Scientific’s Bitcoin Yield stood at 25.8% year-to-date.
Semler Scientific utilizes a dashboard on its website to provide information related to its Bitcoin holdings, which includes market data for its common stock, Bitcoin purchases, and other relevant metrics. This dashboard serves as a platform for the company to fulfill its disclosure obligations under Regulation FD, ensuring that such information is broadly and non-exclusively distributed to the public.
The information contained in the 8-K filing is not considered filed for purposes of Section 18 of the Securities Exchange Act of 1934, nor is it incorporated by reference into any filing under the Securities Act of 1933, except as explicitly stated in such filings. The filing is based on a press release statement.
In other recent news, Semler Scientific reported a net loss of $64.7 million for the first quarter of 2025, with revenue declining by 44% year-over-year to $8.8 million. Despite these financial challenges, the company remains focused on its Bitcoin treasury strategy, having accumulated 3,808 Bitcoins valued at nearly $400 million. Semler Scientific plans to use proceeds from its healthcare business to further invest in Bitcoin, supported by a new $500 million ATM program. Additionally, the company announced the appointment of Natalie Brunell to its Board of Directors, highlighting her expertise in Bitcoin to bolster its strategy in this area. Brunell’s role will also include participation in the Bitcoin Strategy Committee, reflecting the company’s commitment to its cryptocurrency initiatives. The company is also pursuing expanded indications for its QuantaFlo product, seeking new 510(k) clearance. This move is part of Semler Scientific’s efforts to innovate within the cardiovascular sector despite current operational pressures. These developments underscore the company’s strategic focus on both healthcare technology and cryptocurrency holdings.
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