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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 Corp. (Nasdaq: DRIO) has entered an agreement with a major U.S. national health plan to provide its digital behavioral health solution to self-insured employers. Initial member access is expected in Q4 2021, with wider rollout in 2022. Dario will earn a monthly fee for each member. This partnership aims to enhance mental health care access and improve member experience through AI-driven personalized care options. The agreement could generate millions in annual revenue and signifies potential for further opportunities with this client.
DarioHealth Corp. (Nasdaq: DRIO) will participate in a fireside chat at the Cantor Fitzgerald Virtual Global Healthcare Conference from September 27-30, 2021. The management's presentation is scheduled for Thursday, September 30, 2021, at 8:40 AM ET. Interested parties can register for the live webcast here. DarioHealth is recognized for its digital therapeutic solutions that enhance chronic condition management.
DarioHealth Corp. (Nasdaq: DRIO) announces that Chief Medical Officer, Dr. Omar Manejwala, will present at the American Health Insurance Plans' National Conference on Medicare, Medicaid, and Dual Eligibles on September 22, 2021, at 12:45 p.m. EST. His presentation will focus on the role of digital therapeutics in addressing health disparities among Medicaid populations. Dr. Manejwala emphasizes the need for tailored digital solutions to improve access and health outcomes for underserved groups, highlighting significant growth in digital health during the pandemic.
DarioHealth Corp. (Nasdaq: DRIO) has been selected by PeopleOne Health as its preferred digital behavioral health solution starting September 2021. This partnership aims to enhance mental health support for patients through AI-driven assessments and integrated digital tools. Rick Anderson, President of North America at DarioHealth, emphasized the importance of modern solutions for patient care, highlighting this agreement's validation of Dario's value in point-of-care settings. The collaboration underscores Dario's expansion in the provider market and its commitment to holistic health management.
DarioHealth Corp. (Nasdaq: DRIO) reported a strong Q2 2021, with revenues of $5.3 million, growing 46% sequentially and 194% year-over-year. The company expanded its digital therapeutics offerings through acquisitions, enhancing its sales pipeline to over $900 million. Gross profit margins improved to 49.4%, reflecting growth in their SaaS model. However, the operating loss increased to $18 million, a 337% rise from the previous year. Cash reserves stood at $63.9 million, positioning Dario for ongoing growth amid increased operating expenses.
DarioHealth Corp. (Nasdaq: DRIO) announced a study at the ADCES conference showcasing the effectiveness of its personalized digital therapeutics platform. The research involved 3,609 members with Type 2 diabetes, showing a 19% reduction in high blood glucose readings compared to the control group. A notable 42% reduction was observed in non-insulin users. This study emphasizes the importance of real-time personalized interventions in influencing positive lifestyle changes and improving clinical outcomes.
DarioHealth Corp. (Nasdaq: DRIO) will announce its second quarter financial results for the period ending June 30, 2021 on August 16, 2021. A conference call and webcast will take place at 8:30 AM EDT, featuring CEO Erez Raphael, President Rick Anderson, and CFO Zvi Ben-David.
Participants should join the call 10 minutes early. A replay will be available until September 16, 2021. DarioHealth is a leader in digital therapeutics, offering solutions for chronic conditions like diabetes and hypertension.
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