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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) announced results from a study presented at the 14th International Conference on Advanced Technologies and Treatments for Diabetes. The research focused on the effects of Dario's personalized digital interventions on diabetes self-management, involving 246 users. Key findings included a 14% and 22% increase in the percentage of users measuring blood glucose within the first 30 days and 30-60 days, respectively, along with improvements in measurement frequency and recency. Experts emphasized the potential life-changing benefits of these personalized solutions for diabetes management.
DarioHealth Corp. (Nasdaq: DRIO) announced its participation in the Stifel 2021 Virtual Cross Sector Insight Conference, scheduled for June 9, 2021, at 8:00 a.m. ET. CEO Erez Raphael and President Rick Anderson will present in a virtual format. Interested attendees can access both live and archived webcasts via DarioHealth's investor website. DarioHealth is a leader in digital therapeutics, offering AI-powered solutions that help individuals manage chronic conditions effectively. The company is expanding its services across various regions and medical conditions.
DarioHealth Corp. (Nasdaq: DRIO) announced a new study on its digital therapeutics for Type 2 diabetes published in the Journal of Diabetes Science and Technology. The study showed a 2.0% reduction in average HbA1c values among participants using the Dario app alongside certified coaching. Other notable findings included an 18% reduction in fasting blood glucose and a 10% reduction in BMI. The research highlights the effectiveness of combining digital self-monitoring with live coaching, supporting Dario's mission to enhance diabetes management.
DarioHealth Corp. (Nasdaq: DRIO) will participate in the 18th Annual Craig-Hallum Institutional Investor Conference on June 2. CEO Erez Raphael and President Rick Anderson will host meetings with registered investors. DarioHealth is a leader in digital therapeutics, focusing on chronic condition management through AI-powered solutions. Their tools promote behavioral change and improve health outcomes, with a strong reputation in diabetes and hypertension care. For more information, visit dariohealth.com.
DarioHealth Corp. (Nasdaq: DRIO) announced the acquisition of PsyInnovations, Inc. (dba wayForward) for $30 million. This behavioral health digital platform offers AI-based screening, digital Cognitive Behavioral Therapy (CBT), and more, currently serving around 20,000 members. The acquisition is expected to be accretive to revenue in 2021 and significantly more in 2022. Dario aims to enhance its multi-condition solutions and improve member outcomes, addressing a growing behavioral health need among those with chronic conditions. The deal involves $25 million at closing and a contingent payment of up to $5 million based on future revenue thresholds.
DarioHealth Corp. (Nasdaq: DRIO) reported a strong first quarter of 2021, with revenues reaching $3.6 million, a 73% sequential increase from Q4 2020 and 116% year-over-year. Pro-forma revenues, accounting for the acquisition of Upright Technologies, would have been $4.7 million. Gross margin improved to 44.7%, up from 24.2% in Q4 2020. However, the net loss widened to $15 million, reflecting a significant rise in operating expenses totaling $15.4 million. The company holds over $81 million in cash, positioning it well for future growth while focusing on B2B2C and chronic condition market expansions.
DarioHealth Corp. (Nasdaq: DRIO) will release its Q1 2021 financial results on May 17, 2021, after market close. A conference call will be held on May 18, 2021, at 8:30 am ET, featuring CEO Erez Raphael and executives Rick Anderson and Zvi Ben-David. The call can be accessed via dial-in at 1-877-451-6152 or through a webcast. A replay will be available post-event until June 18, 2021. DarioHealth is known for its innovative digital therapeutics, particularly in diabetes and hypertension management, focusing on adaptive and personalized health solutions.
DarioHealth Corp. (NASDAQ: DRIO) announced that Rick Anderson, President and GM of North America, will speak at the Fifth International Vatican Conference from May 6-8, 2021. The event gathers global leaders to discuss advancements in health care and chronic disease management. Anderson's presentation will focus on technology's role in behavior change and health improvement, advocating for equitable access to care through digital solutions. The conference features notable speakers and promotes the #UnitedToPrevent campaign centered on health innovation.
DarioHealth Corp. (Nasdaq: DRIO) has launched a new virtual care initiative in collaboration with MediOrbis, targeting Medicare members with diabetes. This program provides convenient telehealth services and remote patient monitoring, leveraging Dario's AI-powered platform. Approximately 75,000 existing Dario members with diabetes will benefit from the initiative, which also targets a broader Medicare audience, potentially accessing millions of beneficiaries. The program is aligned with Dario's strategy to enhance user value while expanding revenue opportunities, particularly in remote patient monitoring.
DarioHealth Corp. (Nasdaq: DRIO) announced its financial results for Q4 and the full year 2020, highlighting a transition to a SaaS model and B2B2C digital therapeutics approach. Total revenues rose modestly in Q4 to $2.08 million, a 15.7% increase year-over-year. However, gross profit declined to $549,000, marking a 34.6% drop, while operating losses surged 117% to $9.1 million. The company secured key contracts and successfully raised $70 million through a private placement. Cash reserves stand at approximately $90 million, supporting future growth initiatives.
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