Semler Scientific secures $20 million loan from Coinbase Credit, collateralized by Bitcoin

Semler Scientific, Inc. (NASDAQ:SMLR), a $457 million market cap healthcare technology company with impressive gross profit margins of 91%, announced Thursday it has entered into a $20 million loan agreement with Coinbase Credit Inc., using Bitcoin as collateral. According to InvestingPro analysis, the company currently trades at a P/E ratio of 7.67. The transaction was disclosed in a press release statement filed with the Securities and Exchange Commission.

According to the filing, the loan was executed under a master loan agreement originally signed on April 15, 2025, with Coinbase Credit Inc. and Coinbase Inc. The agreement allows Semler Scientific to borrow cash or digital assets, secured by a first priority security interest in Bitcoin posted as collateral. Each loan under the agreement is subject to minimum margin requirements based on the value of the Bitcoin collateral. InvestingPro data shows the company’s current ratio stands at 0.6, indicating its short-term obligations exceed liquid assets.

The new $20 million cash loan carries an interest rate of 10% and requires an initial margin percentage of 156.25%. The loan is scheduled to mature on March 26, 2026. If Semler Scientific repays the loan before maturity, the company will owe an early termination fee equal to all remaining interest due through the end of the loan term.

Semler Scientific stated in the filing that it intends to use the loan proceeds, along with cash from operations, to pay a previously disclosed settlement with the U.S. Department of Justice.

The company’s common stock trades on The Nasdaq Stock Market LLC under the ticker NASDAQ:SMLR.

This summary is based on a press release statement filed with the SEC.

In other recent news, Semler Scientific has announced an all-stock acquisition by Strive, Inc., which will proceed under customary closing conditions. The acquisition values Semler Scientific at a 210% premium to its previous closing price, with each common share being exchanged for 21.05 Class A common shares of Strive. Following this announcement, Benchmark adjusted its price target for Semler Scientific to $86, maintaining a Buy rating, while Cantor Fitzgerald reiterated an Overweight rating with a slight price target reduction to $60. Additionally, Semler Scientific shareholders approved a share increase at the recent annual meeting, electing William H.C. Chang as a Class I director. However, a proposal for preferred stock was rejected. These developments come amidst a backdrop where Semler Scientific’s stock is trading close to its Bitcoin net asset value, as noted by Cantor Fitzgerald.

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