Semler Scientific, Inc. (NASDAQ: SMLR) has announced its updated Bitcoin (BTC) activity and holdings, capital markets activity, and BTC yield. Between December 5, 2024, and December 15, 2024, the company acquired 211 bitcoins for $21.5 million, bringing its total holdings to 2,084 bitcoins, acquired for an aggregate of $168.6 million at an average purchase price of $80,916 per bitcoin.
Regarding the at-the-market (ATM) offering, Semler Scientific filed a second prospectus supplement to its S-3 shelf to offer an additional $50.0 million of shares under its existing ATM offering, increasing the total amount offered under the ATM to $150.0 million. As of December 13, 2024, the company has generated approximately $100.0 million of gross proceeds from sales under the ATM offering.
The BTC yield, a key performance indicator (KPI), has seen significant changes. From October 1, 2024, to December 15, 2024, Semler Scientific’s BTC yield was 67.0%. However, from July 1, 2024, to December 15, 2024, the BTC yield surged to 92.8%. The company uses BTC yield as a KPI to help assess the performance of its strategy of acquiring Bitcoin in a manner it believes is accretive to stockholders.
Semler Scientific's total Bitcoin holdings have increased from 877 at the end of June 2024 to 1,018 at the end of September 2024, and to 2,084 at the end of December 15, 2024. Additionally, the basic shares outstanding have also seen a steady rise, increasing from 6,987 at the end of June 2024 to 7,120 at the end of September 2024, and further to 9,267 at the end of December 15, 2024.
It is important to note that BTC yield is not, and should not be understood as, an operating performance measure or a financial or liquidity measure. Moreover, Semler Scientific’s ability to achieve positive BTC yield may depend on various factors, including its ability to generate cash from operations in excess of its fixed charges and other expenses, as well as factors outside of its control, such as the availability of debt and equity financing on favorable terms.
The company has emphasized that investors should rely on the financial statements and other disclosures contained in Semler Scientific’s SEC filings, and that BTC yield should be used only by sophisticated investors who understand its limited purpose and many limitations. Today the company's shares have moved 8.4% to a price of $72.83. For more information, read the company's full 8-K submission here.
