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Semler Scientific $SMLR thread!!
Here we go---
Semler Scientific focusses on Peripheral Artery Disease (PAD)
They created a test that is better than any other current test:
Faster (5 minutes)
Cheaper
As Accurate as previous tests
Less requirements(See below)
Here we go---
Semler Scientific focusses on Peripheral Artery Disease (PAD)
They created a test that is better than any other current test:
Faster (5 minutes)
Cheaper
As Accurate as previous tests
Less requirements(See below)
Requirements for Old Test (ABI):
-Need patient to have symptoms
- Most PAD patients are asymptomatic
- Only be used by a vascular technician in a vascular lab
- Only after a referral
Semler's Test:
- No requirement for symptoms
- Any doctor can administer it
-No Referral
-Need patient to have symptoms
- Most PAD patients are asymptomatic
- Only be used by a vascular technician in a vascular lab
- Only after a referral
Semler's Test:
- No requirement for symptoms
- Any doctor can administer it
-No Referral
PAD is severely underdiagnosed!
-Only 1-2 million patients get tested
-Semler believes 80 million patients should be tested per year.
-The requirements for the test are why it has been so underdiagnosed
Bottom Line:
Semler's test is far & away the best test for this disease
-Only 1-2 million patients get tested
-Semler believes 80 million patients should be tested per year.
-The requirements for the test are why it has been so underdiagnosed
Bottom Line:
Semler's test is far & away the best test for this disease
What Makes Semler Unique:
-Semler does not make its money on selling the tests
-They sell software that creates reports
- reports cover the results from the test
- Makes it super easy to understand results
- Also offers next steps
Makes sense that Semler's GM is 92%!!
-Semler does not make its money on selling the tests
-They sell software that creates reports
- reports cover the results from the test
- Makes it super easy to understand results
- Also offers next steps
Makes sense that Semler's GM is 92%!!
Room to Grow:
2 ways of Growth
1. Expand PAD testing
- Because it is so underdiagnosed, they have plenty of room to increase their testing volume
- TAM is 80 million, and currently, they serve 1 million
- Even if they tested 1/3 of goal, that is huge volume growth
2 ways of Growth
1. Expand PAD testing
- Because it is so underdiagnosed, they have plenty of room to increase their testing volume
- TAM is 80 million, and currently, they serve 1 million
- Even if they tested 1/3 of goal, that is huge volume growth
2. Expanding into new product categories
- They have invested heavily into 3 new product categories
- They are keeping it under wraps, but seen in how well they execute in PAD testing, they have massive potential in these new categories
- They have invested heavily into 3 new product categories
- They are keeping it under wraps, but seen in how well they execute in PAD testing, they have massive potential in these new categories
One Risk:
Massive Concentration
- Three customers account for 42%, 12%, and 11% of AR
- Semler’s biggest customer is a diversified U.S. healthcare company however
Provides some security, knowing that it is a credible customer
Three vendors accounted for 50% of Semler’s AP
Massive Concentration
- Three customers account for 42%, 12%, and 11% of AR
- Semler’s biggest customer is a diversified U.S. healthcare company however
Provides some security, knowing that it is a credible customer
Three vendors accounted for 50% of Semler’s AP
Overview:
All in all, this company has not scratched the surface of their PAD testing category, and they have the potential for other areas
I love the potential optionality and that they can likely be a top dog in an industry.
I do not have a position, but I soon will
All in all, this company has not scratched the surface of their PAD testing category, and they have the potential for other areas
I love the potential optionality and that they can likely be a top dog in an industry.
I do not have a position, but I soon will
