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Semler Scientific Inc Financials

SMLR
FY2024 annual
Revenue $56.3M -17.4% YoY
Net Income $40.9M +98.7% YoY
EPS (Diluted) $5.13 +95.1% YoY
Free Cash Flow $24.4M +16.1% YoY
Source SEC Filings (10-K/10-Q) Latest period Q3 FY2025, ended Sep 30, 2025 Reported Currency USD FYE December

Semler Scientific Inc (SMLR) reported $56.3M in revenue for fiscal year 2024, down 17.4% from the prior fiscal year. This page shows its income statement, balance sheet, cash flow statement, and key financial ratios. View 12 years of annual fundamentals and quarterly data, with year-over-year growth rates and compound annual growth rates (CAGR). All figures are derived from SEC filings (10-K and 10-Q reports).

Rhea AI SMLR FY2024

Semler’s dominant mechanic is a profitable operating core paired with a FY2024 balance-sheet transformation funded largely outside operations.

FY2024 net income of $40.9M was nearly double operating income of $20.9M, while operating cash flow stayed close to operating income; reported profit therefore includes a material non-operating contribution that did not translate into equivalent cash. Despite revenue contracting in FY2024, operating margin rose from 32.6% to 37.2%, pointing to improved cost absorption or mix rather than volume-led expansion.

Assets rose from $78.1M in FY2023 to $239.8M in FY2024 without a comparable increase in liabilities, indicating a major asset deployment financed mainly through non-debt sources. The year’s financing inflow of $117.2M and investing outflow of -$190.0M make that funding-and-deployment pattern visible.

Cash conversion remained operationally grounded: free cash flow of $24.4M was essentially equal to operating cash flow, while capital expenditures were only $51K, so reported cash generation required little physical reinvestment. Accounts receivable declined from $6.1M to $4.4M as revenue declined, suggesting working capital did not inflate cash generation.

[ NOT FINANCIAL ADVICE ]

Financial Health Signals

Profitability Growth Leverage Liquidity CashFlow Returns 78 / 100
Financial Health Score 78/100

Scored against operating companies for FY2024. Each of the six dimensions is a percentile rank within that peer group; the overall is their average, with missing dimensions counted as zero out of six. A high score means strong standing among peers, not absolute cross-industry strength. How this score is calculated →

Health score ≠ stock price. This rates the quality of Semler Scientific Inc's business: profitability, growth, balance sheet strength. It doesn't tell you whether the stock is a good buy at today's price. Not financial advice. Use it alongside valuation analysis and your own research.

Profitability
95

Semler Scientific Inc has an operating margin of 37.2%, meaning the company retains $37 of operating profit per $100 of revenue. This strong profitability earns a score of 95/100, reflecting efficient cost management and pricing power. This is up from 32.6% the prior year.

Growth
30

Semler Scientific Inc's revenue declined 17.4% year-over-year, from $68.2M to $56.3M. This contraction results in a growth score of 30/100.

Leverage
85

Semler Scientific Inc carries a low D/E ratio of 0.04, meaning only $0.04 of long-term debt for every $1 of shareholders' equity. This conservative leverage earns a score of 85/100, indicating a strong balance sheet with room for future borrowing.

Liquidity
83

With a current ratio of 3.59, Semler Scientific Inc holds $3.59 in current assets for every $1 of short-term obligations. This comfortable liquidity earns a score of 83/100.

Cash Flow
97

Semler Scientific Inc converts 43.3% of revenue into free cash flow ($24.4M). This strong cash generation earns a score of 97/100.

Returns
80

Semler Scientific Inc earns a strong 17.7% return on equity (ROE), meaning it generates $18 of profit for every $100 of shareholders' equity. This efficient capital use earns a returns score of 80/100. This is down from 28.7% the prior year.

Altman Z-Score Safe
21.76

Semler Scientific Inc scores 21.76, well above the 2.99 safe threshold. The score is driven primarily by a large market capitalization ($311.1M) relative to total liabilities ($9.1M). This indicates low bankruptcy risk based on profitability, leverage, and asset efficiency.

Distress-screening estimate for non-financial companies. Not computed for banks or insurers, where the Altman model does not apply.

Piotroski F-Score Partial
3/8

Semler Scientific Inc passes 3 of 8 computable financial strength tests (1 of the nine could not be computed from available data). 2 of 4 profitability signals pass, no leverage/liquidity signals pass (rising debt, declining liquidity, or share dilution), 1 of 2 efficiency signals pass.

Earnings Quality Mixed
0.60x

For every $1 of reported earnings, Semler Scientific Inc generates $0.60 in operating cash flow ($24.4M OCF vs $40.9M net income). This mixed ratio suggests some earnings may rely on non-cash accounting items.

Key Financial Metrics

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Earnings & Revenue

Revenue
$56.3M
YoY-17.4%
5Y CAGR+11.4%
10Y CAGR+31.5%

Semler Scientific Inc generated $56.3M in revenue in fiscal year 2024. This represents a decrease of 17.4% from the prior year.

EBITDA
$21.5M
YoY-5.9%
5Y CAGR+13.7%

Semler Scientific Inc's EBITDA was $21.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization. This represents a decrease of 5.9% from the prior year.

Net Income
$40.9M
YoY+98.7%
5Y CAGR+22.1%

Semler Scientific Inc reported $40.9M in net income in fiscal year 2024. This represents an increase of 98.7% from the prior year.

EPS (Diluted)
$5.13
YoY+95.1%
5Y CAGR+22.2%

Semler Scientific Inc earned $5.13 per diluted share (EPS) in fiscal year 2024. This represents an increase of 95.1% from the prior year.

Cash & Balance Sheet

Free Cash Flow
$24.4M
YoY+16.1%
5Y CAGR+14.2%

Semler Scientific Inc generated $24.4M in free cash flow in fiscal year 2024, representing cash available after capex. This represents an increase of 16.1% from the prior year.

Cash & Debt
$8.8M
YoY-84.6%
5Y CAGR+2.6%
10Y CAGR+7.8%

Semler Scientific Inc held $8.8M in cash as of fiscal year 2024; long-term debt is not reported for that period.

Shares Outstanding
10M
YoY+36.5%
5Y CAGR+8.0%
10Y CAGR+7.4%

Semler Scientific Inc had 10M shares outstanding in fiscal year 2024. This represents an increase of 36.5% from the prior year.

Dividends Per Share

Not reported for fiscal year 2024.

Margins & Returns

Gross Margin
91.5%
YoY+1.8pp
5Y CAGR+2.7pp
10Y CAGR+10.6pp

Semler Scientific Inc's gross margin was 91.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs. This is up 1.8 percentage points from the prior year.

Operating Margin
37.2%
YoY+4.5pp
5Y CAGR+4.5pp

Semler Scientific Inc's operating margin was 37.2% in fiscal year 2024, reflecting core business profitability. This is up 4.5 percentage points from the prior year.

Net Margin
72.7%
YoY+42.5pp
5Y CAGR+26.6pp

Semler Scientific Inc's net profit margin was 72.7% in fiscal year 2024, showing the share of revenue converted to profit. This is up 42.5 percentage points from the prior year.

Return on Equity
17.7%
YoY-11.0pp
5Y CAGR-97.7pp

Semler Scientific Inc's ROE was 17.7% in fiscal year 2024, measuring profit generated per dollar of shareholder equity. This is down 11.0 percentage points from the prior year.

Capital Allocation

R&D Spending
$4.8M
YoY-17.0%

Semler Scientific Inc invested $4.8M in research and development in fiscal year 2024. This represents a decrease of 17.0% from the prior year.

Capital Expenditures
$51K
YoY-85.2%
5Y CAGR-21.8%
10Y CAGR+18.9%

Semler Scientific Inc invested $51K in capex in fiscal year 2024, funding long-term assets and infrastructure. This represents a decrease of 85.2% from the prior year.

Share Buybacks

Not reported for fiscal year 2024.

SMLR Income Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SMLR quarterly income statement
MetricQ3'25Q2'25Q1'25Q4'24Q3'24Q2'24Q1'24Q4'23
Revenue$7.5M-8.8%$8.2M-7.0%$8.8M-28.8%$12.4M-8.1%$13.5M-6.6%$14.5M-9.0%$15.9M+5.6%$15.1M
Cost of Revenue$636K-13.9%$739K-21.1%$937K-14.9%$1.1M-4.8%$1.2M-7.9%$1.3M+0.6%$1.2M-63.2%$3.4M
Gross Profit$6.9M-8.3%$7.5M-5.3%$7.9M-30.2%$11.3M-8.4%$12.4M-6.5%$13.2M-9.9%$14.7M+25.6%$11.7M
SG&A Expenses$8.0M+55.9%$5.1M+5.0%$4.9M+29.7%$3.8M+20.5%$3.1M+5.6%$3.0M+3.4%$2.9M-12.1%$3.3M
Operating Income-$5.4M-162.5%-$2.1M+93.4%-$31.1M-978.1%$3.5M-30.1%$5.1M-5.3%$5.3M-23.3%$7.0M+176.7%$2.5M
Income Tax$6.9M-49.4%$13.6M+234.1%-$10.2M-401.8%$3.4M+339.8%$766K-32.0%$1.1M-34.7%$1.7M+222.4%-$1.4M
Net Income$16.9M-74.7%$66.9M+203.4%-$64.7M-321.5%$29.2M+420.7%$5.6M+50890.9%$11K-99.8%$6.1M+43.9%$4.2M
EPS (Diluted)$1.07-78.8%$5.04+174.8%-$6.74-285.7%$3.63+404.2%$0.72$0.00-100.0%$0.78+44.4%$0.54

Not reported in any period shown, so not listed: R&D Expenses, Interest Expense.

SMLR Balance Sheet

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SMLR quarterly balance sheet
MetricQ3'25Q2'25Q1'25Q4'24Q3'24Q2'24Q1'24Q4'23
Total Assets$596.7M+14.2%$522.6M+78.1%$293.4M+22.4%$239.8M+160.1%$92.2M+8.7%$84.8M+1.1%$83.9M+7.4%$78.1M
Current Assets$53.5M+144.3%$21.9M+18.7%$18.5M-18.7%$22.7M+5.6%$21.5M-9.3%$23.7M-67.1%$71.9M+9.0%$65.9M
Cash & Equivalents$10.2M-24.5%$13.5M+38.5%$9.7M+10.4%$8.8M+34.3%$6.6M-10.4%$7.3M-88.3%$62.8M+9.7%$57.2M
Inventory$485K-13.1%$558K+50.8%$370K+3.4%$358K-5.8%$380K-1.3%$385K-5.6%$408K-8.3%$445K
Accounts Receivable$2.6M-9.6%$2.8M-9.8%$3.1M-28.3%$4.4M-34.3%$6.7M-10.7%$7.5M+21.8%$6.1M+0.1%$6.1M
Total Liabilities$136.9M-1.6%$139.2M+5.6%$131.8M+1351.4%$9.1M+32.7%$6.8M+7.1%$6.4M+7.4%$6.0M-5.1%$6.3M
Current Liabilities$27.2M-26.0%$36.8M+3.1%$35.7M+465.0%$6.3M-7.7%$6.8M+7.5%$6.4M+7.8%$5.9M-4.8%$6.2M
Total Equity$459.7M+19.9%$383.4M+137.1%$161.7M-29.9%$230.8M+170.3%$85.4M+8.9%$78.4M+0.6%$77.9M+8.5%$71.8M
Retained Earnings$119.8M+16.4%$102.9M+185.9%$36.0M-64.3%$100.7M+40.8%$71.5M+8.5%$65.9M0.0%$65.9M+10.2%$59.8M

Not reported in any period shown, so not listed: Goodwill, Long-Term Debt.

SMLR Cash Flow Statement

Figures in USD, abbreviated K (thousand), M (million), B (billion), T (trillion). Negative values carry a minus sign and red type.

SMLR quarterly cash flow statement
MetricQ3'25Q2'25Q1'25Q4'24Q3'24Q2'24Q1'24Q4'23
Operating Cash Flow-$33.0M-6510.5%$514K+127.0%-$1.9M-125.7%$7.4M+15.6%$6.4M+30.2%$4.9M-12.3%$5.6M+26.6%$4.4M
Capital ExpendituresN/AN/AN/A$3K$0-100.0%$44K+1000.0%$4K-88.6%$35K
Free Cash FlowN/AN/AN/A$7.4M+15.5%$6.4M+31.4%$4.9M-13.0%$5.6M+27.5%$4.4M
Investing Cash Flow-$47.8M+68.1%-$149.7M-71.4%-$87.3M+27.8%-$121.0M-1334.5%-$8.4M+86.1%-$60.5M-74550.6%-$81K-100.4%$18.6M
Financing Cash Flow$77.4M-49.4%$152.9M+69.6%$90.1M-22.2%$115.8M+9188.1%$1.2M+1023.4%$111K+909.1%$11K+100.3%-$3.2M

Not reported in any period shown, so not listed: Dividends Paid, Share Buybacks.

SMLR Financial Ratios

Margins and returns are percentages; the remaining ratios are unitless multiples.

SMLR quarterly financial ratios
MetricQ3'25Q2'25Q1'25Q4'24Q3'24Q2'24Q1'24Q4'23
Gross Margin91.5%+0.5pp91.0%+1.6pp89.4%-1.7pp91.1%-0.3pp91.4%+0.1pp91.3%-0.8pp92.2%+14.6pp77.5%
Operating Margin-72.0%-47.0pp-25.0%-352.0%28.5%-9.0pp37.5%+0.5pp37.0%-6.9pp43.9%+27.1pp16.7%
Net Margin225.6%814.6%-732.3%235.3%41.5%+41.4pp0.1%-38.1pp38.2%+10.2pp28.0%
Return on Equity3.7%-13.8pp17.5%+57.5pp-40.0%-52.7pp12.7%+6.1pp6.6%+6.6pp0.0%-7.8pp7.8%+1.9pp5.9%
Return on Assets2.8%-10.0pp12.8%+34.9pp-22.1%-34.2pp12.2%+6.1pp6.1%+6.1pp0.0%-7.2pp7.2%+1.8pp5.4%
Current Ratio1.97+1.4x0.60+0.1x0.52-3.1x3.59+0.5x3.14-0.6x3.72-8.5x12.18+1.5x10.64
Debt-to-Equity0.30-0.1x0.36-0.5x0.81+0.8x0.040.0x0.080.0x0.080.0x0.080.0x0.09
FCF MarginN/AN/AN/A59.8%+12.3pp47.5%+13.7pp33.8%-1.5pp35.3%+6.1pp29.3%

Reported as filed but not readable as a share of revenue in the periods where the ratio runs further from zero than a revenue base allows; no change figure is given where either compared period is one of those: Operating Margin, Net Margin.

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Frequently Asked Questions

What is Semler Scientific Inc's annual revenue?

Semler Scientific Inc (SMLR) reported $56.3M in total revenue for fiscal year 2024. This represents a -17.4% change compared to the previous fiscal year. Revenue measures the total income earned from the company's primary business operations before any expenses are deducted.

How fast is Semler Scientific Inc's revenue growing?

Semler Scientific Inc (SMLR) revenue declined by 17.4% year-over-year, from $68.2M to $56.3M in fiscal year 2024.

Is Semler Scientific Inc profitable?

Yes, Semler Scientific Inc (SMLR) reported a net income of $40.9M in fiscal year 2024, with a net profit margin of 72.7%.

Semler Scientific Inc (SMLR) reported diluted earnings per share of $5.13 for fiscal year 2024. This represents a 95.1% change compared to the previous fiscal year. EPS represents the portion of a company's net income allocated to each outstanding share of common stock and is widely used to evaluate profitability on a per-share basis.

Semler Scientific Inc (SMLR) had EBITDA of $21.5M in fiscal year 2024, measuring earnings before interest, taxes, depreciation, and amortization.

Semler Scientific Inc (SMLR) had a gross margin of 91.5% in fiscal year 2024, indicating the percentage of revenue retained after direct costs of goods sold.

Semler Scientific Inc (SMLR) had an operating margin of 37.2% in fiscal year 2024, reflecting the profitability of core business operations before interest and taxes.

Semler Scientific Inc (SMLR) had a net profit margin of 72.7% in fiscal year 2024, representing the share of revenue converted into profit after all expenses.

Semler Scientific Inc (SMLR) has a return on equity of 17.7% for fiscal year 2024, measuring how efficiently the company generates profit from shareholder equity.

Semler Scientific Inc (SMLR) generated $24.4M in free cash flow during fiscal year 2024. This represents a 16.1% change compared to the previous fiscal year. Free cash flow represents the cash a company generates after accounting for capital expenditures, and is widely used to assess financial flexibility and shareholder value.

Semler Scientific Inc (SMLR) generated $24.4M in operating cash flow during fiscal year 2024, representing cash generated from core business activities.

Semler Scientific Inc (SMLR) had $239.8M in total assets as of fiscal year 2024, including both current and long-term assets.

Semler Scientific Inc (SMLR) invested $51K in capital expenditures during fiscal year 2024, funding long-term assets and infrastructure.

Semler Scientific Inc (SMLR) invested $4.8M in research and development during fiscal year 2024.

Semler Scientific Inc (SMLR) had 10M shares outstanding as of fiscal year 2024.

Semler Scientific Inc (SMLR) had a current ratio of 3.59 as of fiscal year 2024, which is generally considered healthy.

Semler Scientific Inc (SMLR) had a debt-to-equity ratio of 0.04 as of fiscal year 2024, measuring the company's financial leverage by comparing total debt to shareholder equity.

Semler Scientific Inc (SMLR) had a return on assets of 17.1% for fiscal year 2024, measuring how efficiently the company uses its assets to generate profit.

Semler Scientific Inc (SMLR) has an Altman Z-Score of 21.76, placing it in the Safe Zone (low bankruptcy risk). The Z-Score combines five financial ratios (working capital, retained earnings, EBIT, market capitalization, and revenue relative to total assets) to predict the likelihood of bankruptcy. Scores above 2.99 indicate financial safety while scores below 1.81 suggest financial distress. Learn more in our complete guide to financial health indicators.

Semler Scientific Inc (SMLR) has a Piotroski F-Score of 3 out of 8 computable signals; 1 of the nine could not be computed from available data, so the full-scale strength rating is not shown. The F-Score evaluates nine binary signals across profitability (positive ROA, positive cash flow, improving ROA, earnings quality), leverage (decreasing debt, improving liquidity, no share dilution), and operating efficiency (improving gross margin, improving asset turnover). Scores of 7 to 9 indicate strong and improving fundamentals. Learn more in our complete guide to financial health indicators.

Semler Scientific Inc (SMLR) has an earnings quality ratio of 0.60x, considered mixed quality. This ratio compares operating cash flow to net income. A ratio above 1.0x means the company generates more cash than its reported earnings, indicating sustainable, cash-backed profits. Ratios below 1.0x suggest earnings rely on accounting accruals rather than actual cash generation. Learn more in our complete guide to financial health indicators.

Semler Scientific Inc (SMLR) scores 78 out of 100 on our Financial Health Score, indicating strong standing within its operating companies peer group. The score is a 0-100 composite of six dimensions (Profitability, Growth, Leverage, Liquidity, Cash Flow, Returns), each ranked as a percentile relative to companies in the same scoring family (banks against banks, REITs against REITs, and so on) rather than across all industries. It rates the quality of the business, not whether the stock is fairly priced, and is not financial advice. Learn more in our complete guide to financial health indicators.

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