Semler Scientific, Inc. has announced significant updates on its bitcoin (BTC) activity and holdings, as well as its capital markets activity and BTC yield. Between November 18, 2024, and November 22, 2024, the company acquired 297 bitcoins for $29.1 million in cash, with an average price of $97,995 per bitcoin. As of November 22, 2024, Semler Scientific held 1,570 bitcoins, acquired for an aggregate $117.8 million at an average purchase price of $75,039 per bitcoin.
Additionally, the company launched an additional $50.0 million ATM offering, increasing the total amount offered under the ATM to $100.0 million. As of November 22, 2024, Semler Scientific has generated approximately $50.0 million of gross proceeds under the ATM offering.
The company reported that from October 1, 2024, to November 22, 2024, its BTC yield was 37.1%, while from July 1, 2024, to November 22, 2024, its BTC yield stood at a remarkable 58.4%. Eric Semler, chairman of Semler Scientific, expressed his satisfaction with the outstanding progress made in accumulating bitcoin on the company's balance sheet in a highly accretive way for stakeholders.
In terms of shares outstanding, Semler Scientific reported the following figures at different time intervals:
- Total Bitcoin Holdings: 877 (6/30/2024), 1,018 (9/30/2024), 1,570 (11/22/2024)
- Basic Shares Outstanding ('000): 6,987 (6/30/2024), 7,120 (9/30/2024), 8,289 (11/22/2024)
- Options Outstanding: 1,098 (6/30/2024), 1,013 (9/30/2024), 855 (11/22/2024)
- Assumed Diluted Shares Outstanding: 8,086 (6/30/2024), 8,133 (9/30/2024), 9,143 (11/22/2024)
It's important to note that Semler Scientific uses BTC Yield as a key performance indicator to help assess the performance of its strategy of acquiring bitcoin in a manner it believes is accretive to stockholders. The company believes this KPI can be used to supplement an investor’s understanding of its decision to fund the purchase of bitcoin by issuing additional shares of its common stock.
Semler Scientific's BTC Yield is not a measure of the return on investment stockholders may have achieved historically or can achieve in the future by purchasing its stock, nor is it a measure of income generated by the company’s operations or its bitcoin holdings. It serves solely to assist in assessing whether Semler Scientific is using equity capital in a manner accretive to stockholders solely as it pertains to its bitcoin holdings.
As a result of these announcements, the company's shares have moved 14.5% on the market, and are now trading at a price of $72.88. For more information, read the company's full 8-K submission here.
