Semler Scientific Projects Highest Quarterly Revenues In Q2; To Cut Headcount By Approx. 30%

(RTTNews) - Semler Scientific, Inc. (SMLR) said it expects second quarter revenues to be the highest quarterly revenues in its history, driven by continued sales of QuantaFlo to existing and new customers to test for peripheral arterial disease. Also, the company has appointed Cormier CFO effective July 10, 2023. Cormier will continue as head of corporate communications and business strategy, a role she has held since May 2022.

Semler Scientific said it plans to streamline operations and reduce employee headcount by approximately 30% by September 15, 2023. The company estimates that it will incur severance costs in the range of $0.7 million to $0.9 million consisting of one-time termination benefits, which are expected to be paid by December 31, 2023. The company expects this will result in a reduction in quarterly operating expenses of approximately $1.5 million to $2.0 million, which are expected to be realized during its fourth quarter.