Medical device maker Semler Scientific (SMLR) reported a massive jump in fourth-quarter earnings, fueled by a revaluation of its bitcoin holdings under newly adopted accounting standards.
Key Takeaways:
- Q4 2024 net income surged to $29.2 million ($3.64 per share), compared to $4.2 million ($0.62 per share) in Q4 2023.
- The fair value revaluation of its 3,192 BTC stack resulted in a $28.85 million gain.
- Under the new FASB fair value rule, which takes full effect in Q1 2025, companies must report digital assets at market value, though Semler opted for early adoption.
- The company’s bitcoin holdings are now valued at over $300 million, up from an aggregate purchase price of $280.4 million.
- Semler’s stock climbed 2.1% in Tuesday’s regular session, with after-hours trading remaining flat.
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