Bitcoin Treasury Strategy - Semler Scientific aims to amplify stockholder returns through a Bitcoin treasury strategy focused on equity exposure to BTC using intelligent leverage[10] - The company strategically issues debt and equity securities, and utilizes potential operating cash flow to acquire BTC[10] - As of July 31, 2025, Semler Scientific held 5,021 BTC with a total market value of $586.2 million and an unrealized fair value gain of $110.4 million[12, 13] - Semler Scientific targets accumulating 105,000 Bitcoin by FY 2027E[21, 23] - The company plans to use operating cash flow (~$72 million, 15%), convertible bonds (~$89 million, 19%), and ATM issuances (~$315 million, 66%) to fund Bitcoin purchases[25] Financial Performance (Q2 2025) - Semler Scientific reported revenues of $8.2 million in Q2 2025, a 43.2% year-over-year increase[70] - The company recognized an unrealized gain of $83.8 million in Q2 2025 from the change in fair value of its Bitcoin holdings[70] - Net income for Q2 2025 was $66.9 million, or $5.71 per basic share and $5.04 per fully diluted share[70] - As of June 30, 2025, Semler Scientific's cash, cash equivalents, and restricted cash balance was $13.6 million[70] Capital Markets Activities - Semler Scientific issued 4.1 million shares of common stock through ATM in Q2 2025 for net proceeds of $156.6 million[77] - Post-quarter end through July 31, 2025, the company issued 1.1 million shares of common stock through ATM for net proceeds of $47.8 million[77]