Q1 2025: Semler Scientific Reports $41.8M Paper Loss Due to Bitcoin Price Decline
Medical diagnostics company Semler Scientific has disclosed a significant unrealized loss of $41.8 million in the first quarter of 2025 due to the declining value of its Bitcoin holdings. According to its SEC filing dated April 15, the company’s digital asset position was impacted by a notable drop in Bitcoin’s price — from $93,500 in early January to approximately $82,000 by March 31.
Despite this Q1 2025 paper loss, Semler Scientific continues to hold 3,182 BTC, reinforcing its position as the 12th-largest corporate Bitcoin holder worldwide, just ahead of Boyaa Interactive International Limited. The firm remains committed to its dual strategy of Bitcoin accumulation and healthcare technology innovation.
CEO Doug Murphy-Chutorian emphasized this direction, reaffirming the company’s belief in Bitcoin as a long-term asset. For the quarter, Semler projected revenues between $8.8 million and $8.9 million, while expecting operating losses in the range of $1.3 million to $1.5 million. As of March 31, the company reported $10 million in cash and cash equivalents.
In addition, Semler revealed plans to issue up to $500 million in securities, with proceeds earmarked for general corporate purposes, including potential additional Bitcoin purchases. However, investor sentiment remains cautious, with SMLR stock down over 22% year-to-date.
Legal Update: DOJ Agreement in Principle
Separately, Semler Scientific filed an 8-K report announcing a tentative agreement with the Department of Justice (DOJ) to resolve a civil investigation into alleged False Claims Act violations. The case, dating back to 2017, relates to the company’s marketing practices around Medicare-billed medical devices. Semler has agreed in principle to pay approximately $30 million to settle the matter, though a final agreement has not yet been reached.
