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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 reported Q2 2024 financial results with revenue of $6.26 million, up 8.6% from Q1 2024 and 1.7% year-over-year. The core B2B2C revenue channel saw 315% year-over-year growth to $5.5 million. The company is making progress on transforming its pharma channel to a recurring revenue model. DarioHealth expects to reduce operating expenses by 40% by Q1 2025 and reach cashflow breakeven by the end of 2025. The company ended Q2 with $22.9 million in cash. DarioHealth is seeing increased adoption of its GLP-1 product across clients seeking metabolic solutions. The company anticipates significant reductions in operating losses over the next three quarters driven by revenue growth and cost-cutting measures.
DarioHealth Corp. (Nasdaq: DRIO), a leader in the global digital therapeutics market, has announced it will release its financial results for the second quarter of 2024 on Thursday, August 8th, 2024, before the market opens. The company will host a conference call and webcast at 8:30 am Eastern Time on the same day.
The call will be hosted by Erez Raphael, CEO, and Steven Nelson, Chief Commercial Officer. Investors can join via phone or through a Call me™ link. A webcast will also be available. The replay of the call will be accessible until September 8th, 2024.
DarioHealth Corp. (Nasdaq: DRIO) has secured a new contract with a national employer to provide its cardiometabolic solution with integrated support for GLP-1s starting in Q3 2024. The solution addresses multiple health conditions, including diabetes, pre-diabetes, hypertension, and weight management.
Dario's platform is designed to drive sustainable behavior change, which is important for the success of GLP-1 medications, as 68% of users discontinue within a year. The company's enhanced engagement capabilities, bolstered by its acquisition of Twill, offer personalized journeys and behavioral support.
Dario expects at least ten employer clients to adopt its integrated offering in the coming quarter, leveraging its multi-chronic condition platform. The company sees growing interest from employers, payers, and pharmaceutical companies in its combined Dario-Twill solution for managing GLP-1 challenges.
New research presented by DarioHealth at the 84th Annual ADA Scientific Sessions demonstrates the efficacy of their digital health platform in sustaining behavior change for members taking GLP-1 medications. Data over a 12-month period show significant improvements in healthy lifestyle tracking and blood glucose control. Notably, 31% of Type 2 diabetes members achieved results consistent with diabetes remission. This research underscores the importance of combining GLP-1 medications with effective digital health solutions to maximize outcomes.
DarioHealth Corp. (Nasdaq: DRIO) has announced a strategic reorganization aimed at accelerating commercialization and profitability. The company has transitioned to a flatter organizational model by eliminating the President role and creating dedicated C-level positions for each core function. Steven Nelson has been appointed as the inaugural Chief Commercial Officer (CCO) to drive global commercial activities, including sales, marketing, client management, and strategic partnerships.
Nelson brings over two decades of experience in scaling technology-centric healthcare companies, including leadership roles at Contigo Health and Anthem Inc. His compensation includes stock options tied to performance targets, emphasizing the importance of reaching specific revenue goals.
This reorganization seeks to maximize customer impact and strengthen DarioHealth's position in the digital health market, capitalizing on expanded product offerings and commercial opportunities.
DarioHealth (NASDAQ: DRIO) reported first quarter 2024 revenue of $5.8 million, up 59% from Q4 2023 but down 18.5% year-over-year due to milestone-driven revenues. Their core B2B2C channel saw revenues of $3.47 million, an increase of 176% YoY, driven by new customers and the Twill acquisition. Gross profit was $2.4 million, a decline from $3.1 million YoY, but improved from the previous quarter. Operating expenses rose to $20.3 million, driven by the acquisition. The net loss was $7.2 million, a 44% decrease YoY. The company anticipates breakeven by H2 2025, supported by cost synergies and expanding high-margin revenue streams.
DarioHealth Corp. (Nasdaq: DRIO) will release its financial results for the 1st quarter ended March 31st, 2024, on Wednesday, May 15th, 2024, before the market opens. The company will host a conference call and webcast at 8:30 am Eastern Time with Erez Raphael, Chief Executive Officer, and Rick Anderson, President, as hosts.
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