Semler Scientific (SMLR) Boosts Bitcoin Asset Value by $28.85 Million with New Fair Value Accounting Standard

On February 19th, COINOTAG News reported that Semler Scientific (SMLR) has embraced a pioneering “Fair Value” accounting standard, set to take effect in Q4 2024. This move has allowed the company to revalue its Bitcoin holdings, resulting in an impressive $28.85 million augmentation of its asset base. The standard, which the Financial Accounting Standards Board (FASB) rolled out in March 2024, mandates companies to present digital assets at their market value starting Q1 2025, with an option for pre-implementation. Following this revaluation, Semler’s net income experienced a remarkable surge to $29.2 million, translating to an Earnings Per Share (EPS) of $3.64. This figure starkly contrasts the previous year’s earnings of $4.2 million, or $0.62 per share. Consequently, Semler’s stock has reflected this financial momentum, appreciating by 2.1% on Tuesday.