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DarioHealth Corp. (NASDAQ: DRIO) is a leading digital health company revolutionizing how people with chronic conditions manage their health through a user-centric multi-chronic condition digital therapeutics platform. Dario's platform and suite of solutions deliver personalized and dynamic interventions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain, and behavioral health.
DarioHealth's holistic approach offers continuous and customized care, disrupting the traditional episodic approach to healthcare. The company empowers people to adapt their lifestyles for sustainable behavior change, driving exceptional satisfaction, retention, and results. Dario's solutions are globally available to health plans, self-insured employers, care providers, and consumers.
One of DarioHealth's latest achievements includes the acquisition of Twill, Inc., a move that nearly doubles its pro forma revenues for 2023 and enhances its ability to deliver comprehensive digital health solutions. The integration of Twill is expected to create immediate scale, boost gross margins to approximately 80-85% by 2025, and accelerate the path to profitability through significant cost synergies.
Recent news highlights include Dario's partnership with Blue Shield of California to make its award-winning digital health platform, Wellvolution, more accessible to Spanish speakers. This initiative aims to close care gaps in underserved communities by offering personalized solutions for hypertension, diabetes, weight management, and mental health support. Additionally, Dario announced a new contract to provide its cardiometabolic solution to a regional union, further expanding its presence in the public and labor sectors.
DarioHealth's clinical research continuously demonstrates the efficacy of its digital solutions. For instance, a recent study published in the Journal of Internet Medicine (JMIR) showed significant reductions in blood glucose levels and BMI for members using Dario's weight monitoring features. Other studies presented at the 17th International Conference on Advanced Technologies and Treatments for Diabetes highlighted the company's ability to deliver improved health outcomes through integrated solutions.
Financially, DarioHealth reported strong performance in Q1 2024, with revenues of $5.8 million driven by growth in its Business-to-Business-to-Consumer (B2B2C) model. The company continues to launch new customer partnerships and expects further revenue growth throughout 2024.
With a strong cash position and ongoing innovation, DarioHealth is well-prepared to execute its strategy and solidify its leadership in the digital health space.
DarioHealth (DRIO) reported strong Q3 2024 financial results with revenue of $7.42 million, up 18.7% from Q2 2024 and 111% year-over-year. The company reduced its GAAP operating loss by 25.7% to $12 million and non-GAAP operating loss by 33.3% to $7.1 million compared to Q2 2024. Key achievements include securing 10 new B2B2C clients and transforming the pharma channel into a recurring revenue model. The company expects a 38% reduction in operating expenses by Q1 2025 and remains on track to achieve operational cash flow breakeven by end of 2025. Gross margins for B2B2C business reached 83%, with full business gross margins at 52%.
DarioHealth Corp. (DRIO) announced a new collaboration with a top-six U.S. pharmaceutical company to utilize Dario Connect for enhancing patient engagement with a new psoriasis drug. The partnership marks a shift from milestone-based to recurring subscription revenue model. The collaboration includes a fixed configuration fee followed by platform and services subscription fees, enabling patient medical record aggregation and providing pharmaceutical companies access to de-identified data for monitoring outcomes and prescription trends.
DarioHealth Corp. (DRIO) has secured a new contract with a regional health plan in the Medicaid space, marking its eighth health plan partnership and third Medicaid client. The agreement includes implementation of Dario's full suite of cardiometabolic solutions for nearly 10,000 Medicaid members. The health plan selected Dario based on its proven success with another regional plan and its ability to engage diverse populations through personalized experiences across multiple channels. The contract is expected to generate revenue starting in Q4 2024.
DarioHealth Corp. (Nasdaq: DRIO) announced it will release its Q3 2024 financial results on Thursday, November 7th, 2024, before market opens. The company will host a conference call and webcast at 8:30 AM ET, led by CEO Erez Raphael and CCO Steven Nelson. The earnings call will be accessible via phone dial-in and webcast, with replay available until November 21, 2024.
DarioHealth Corp. (Nasdaq: DRIO) has announced the complete integration of Twill's behavioral health and navigation capabilities into its digital health platform. This integration creates a comprehensive solution for multi-chronic condition management under the Dario brand. The expanded platform now addresses both mental and physical aspects of health across all existing chronic condition management programs.
Key features of the integrated platform include:
- Vertical expansion: Incorporating behavioral health support into chronic condition management
- Horizontal expansion: Integrating Twill's navigation capabilities to guide users through their health journey
- Unified brand: All solutions now under the Dario name
- Four core offerings: Dario Connect (Wellbeing & Navigation), Dario Mind (Behavioral Health), Dario Health (Cardiometabolic Care), and Dario Move (Musculoskeletal Health)
The integration aims to provide a more personalized and effective approach to care by unifying data across mental and physical health, potentially solving issues of point solution fatigue and poor engagement for payers, employers, and pharma companies.
DarioHealth Corp. (Nasdaq: DRIO) has announced a new AARP member benefit set to launch in January 2025, offering digital behavioral health and well-being solutions through Twill by Dario. This initiative aims to address growing mental health needs among people 50-plus, including issues like loneliness, stress, and anxiety. The benefit will provide AARP members with free access to Dario's premium Twill by Dario subscription service, along with a custom collection of 5 activity tracks.
Dario's user-centric platform has demonstrated success in driving engagement and positively impacting health by reducing symptoms of depression and loneliness, and improving overall perceptions of wellbeing. The company's technologies will offer personalized user navigation and simplify the process of recommending and implementing appropriate care and support modalities.
DarioHealth Corp. (Nasdaq: DRIO) has announced a new contract with a national Medicare Advantage health plan to launch its behavioral health solution, Twill by Dario, for plan members starting January 2025. This multi-million-dollar contract marks Dario's entry into the Medicare Advantage market and is expected to significantly contribute to the company's annual recurring revenue growth in 2025.
The partnership aims to support healthy aging by addressing emotional health and well-being, integrating capabilities to tackle Social Determinants of Health (SDoH). Dario's solution includes AI-based network navigation and tailored digital Cognitive Behavioral Therapy (CBT) programs designed for seniors.
This contract brings Dario's total health plan partnerships to seven, including four national health plans. The B2B2C channel now contributes over 70% of Dario's revenues as of Q1 2024, with expectations for continued growth.
DarioHealth Corp. (Nasdaq: DRIO) has announced a new contract with a national Medicare Advantage health plan to launch its behavioral health solution, Twill by Dario, for plan members starting January 2025. This marks Dario's fourth national health plan contract and first in the Medicare Advantage market, significantly expanding its footprint to over a million eligible members.
The Plan selected Dario to offer a single solution supporting healthy aging by addressing emotional health, well-being, and Social Determinants of Health (SDoH). Dario's AI-based network navigation will integrate support across community resources and health plan benefits. The solution includes tailored digital Cognitive Behavioral Therapy (CBT) programs designed for seniors.
This contract is expected to contribute significantly to Dario's annual recurring revenue growth in its Business-to-Business-to-Consumer (B2B2C) channel in 2025. The B2B2C channel currently contributes over 70% of Dario's revenues as of Q1 2024.
DarioHealth Corp. (Nasdaq: DRIO) has announced the integration of Twill's condition-specific communities and peer groups into its cardiometabolic solution. This integration aims to enhance member engagement and improve health outcomes for those managing chronic conditions such as diabetes, pre-diabetes, hypertension, and weight management.
The enhanced platform now offers:
- Peer-to-peer condition groups
- Access to healthcare experts
- Personalized educational content
This integration marks a significant milestone in the Dario-Twill product offering, leveraging social support to improve psychological well-being and overall health outcomes. Dario believes this approach will create one of the most comprehensive engagement platforms in the market, addressing the need for better adoption of digital health solutions.
DarioHealth Corp. (Nasdaq: DRIO) has published a new study in Frontiers in Endocrinology, demonstrating the effectiveness of its cardiometabolic solution for individuals with diabetes or prediabetes and depression. The research, involving 989 users over 12 months, reveals:
- Members with depression showed higher average blood glucose (BG) levels than those without
- Both groups experienced significant BG decreases in the first 4 months of platform usage
- A statistically significant association between depression status, BG levels, and average number of steps
- Monthly average steps fully mediate the association between self-reported depression and monthly average BG
- Users averaging over 400 steps daily showed significant decreases in monthly average BG
The study supports integrating walking into treatment protocols as a cost-effective intervention for glycemic control and depressive symptom alleviation in people with type 2 diabetes and depression.
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