Semler Scientific sees after-hours stock slump as Q1 revenue plunges
Semler Scientific reported a 44% decline in Q1 revenues to $8.8 million and a net loss of $64.7 million, compared to a net income of $6.1 million in the same quarter last year. Following the earnings announcement, shares fell 1.91% to $36, marking a 32% decrease for the year. The company purchased 894 Bitcoin (BTC) in Q1, holding 3,192 BTC valued at $263.5 million by quarter-end. By May 12, Semler increased its holdings to 3,808 BTC, with a fair value of $387.9 million and an unrealized gain of $41.6 million for Q1. Semler plans to sell $500 million in shares to enhance its Bitcoin treasury. Corporations have emerged as significant Bitcoin buyers, with 104 public companies holding nearly 787,000 BTC. Strategy is the largest holder with over 568,000 BTC. Tether acquired $459 million in Bitcoin for Twenty One Capital, which is merging with Cantor Equity Partners. Demand from institutions may drive significant increases in Bitcoin's market capitalization.
