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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) reported a Q2 2022 revenue of $6.2 million, marking a 17.5% increase from Q2 2021. The six-month revenue reached $14.2 million, a 60.8% increase. Key developments include a new contract with a national health plan, projected to add nearly 10 million members. The company reported a net loss of $18 million for Q2 2022, with an operating loss of $17.4 million. Operating expenses decreased by 5.2% year-over-year. Dario continues to transition to its B2B2C focus while maintaining a strong pipeline for future growth.
DarioHealth Corp. (Nasdaq: DRIO) announced new research demonstrating that its digital health solutions effectively improve glycemic control in rural residents with Type 2 diabetes, similar to outcomes seen in urban populations. The study, presented at the ADCES Annual Conference, revealed significant reductions in average blood glucose levels over 12 months for both groups. This suggests that Dario's platform can address healthcare challenges faced by rural communities, potentially enhancing access to effective chronic condition management.
DarioHealth Corp. (NASDAQ: DRIO) will announce its financial results for Q2 2022 on August 15, 2022, at 8:30 am ET. The announcement will be followed by a conference call hosted by CEO Erez Raphael, President Rick Anderson, and CFO Zvi Ben-David. Participants should dial in 10 minutes early to the numbers provided. A replay will be available shortly after the event until September 15, 2022. DarioHealth provides digital health solutions for chronic conditions, aiming to enhance patient management through personalized interventions and data analytics.
DarioHealth Corp. (Nasdaq: DRIO) presented new research at the American Psychological Association Annual Convention on August 4-6, 2022, highlighting its digital behavioral health solution's effectiveness. Findings revealed that 72% of users with clinically elevated depression symptoms saw a reduction over 12 weeks, while 44% experienced significant improvements. Additionally, 68% of users with moderate to severe anxiety reported improvements, with 40% achieving clinically significant reductions. The studies emphasize Dario's integrated approach, associating better health outcomes for individuals with chronic conditions.
Solera Health announces a partnership with DarioHealth to enhance hypertension management solutions. This collaboration introduces a streamlined system for payers and employers to access Dario's digital therapeutics, promoting a comprehensive approach to chronic conditions.
Dario's solution includes a connected blood pressure monitor and a smart app, supporting user engagement through personalized coaching. The CDC reports nearly half of U.S. adults have high blood pressure, contributing to $198 billion in healthcare costs annually. This partnership aims to improve patient outcomes and reduce related costs.
DarioHealth Corp. (NASDAQ: DRIO) has secured a $50 million senior secured term loan facility from OrbiMed, enhancing its financial stability. The initial $25 million is available immediately, with another $25 million contingent on achieving revenue thresholds by June 30, 2023. This funding aims to support DarioHealth's digital therapeutics platform, especially in chronic disease management. The company now potentially has over $100 million in capital access, allowing it to invest in its growing B2B market segment without needing further capital raises.
DarioHealth Corp. (Nasdaq: DRIO) highlighted breakthroughs in chronic condition management at the American Diabetes Association's 82nd Scientific Sessions on June 3-7, 2022. Three studies revealed significant enhancements in glucose control and reductions in blood pressure for users facing diabetes and hypertension. Key findings include:
- Two-thirds of users improved systolic blood pressure by 13 mmHg.
- High-risk Type 2 diabetes users reduced blood glucose by 15%.
- Average blood glucose decreased by 14%-15% across diverse ethnicities.
The integrated solutions demonstrate Dario's potential to transform chronic condition management.
DarioHealth Corp. (NASDAQ: DRIO) announced two new contracts to provide digital therapeutic solutions to a national employer and a provider group, effective Q3 2022. The Texas-based employer will implement digital behavioral health support for employees across 17 states, while the provider group will utilize Dario's integrated metabolic solutions for diabetes and weight management. These contracts are expected to enhance Dario's revenue growth in 2022, aligning with their strategy to expand their client base and personalized health solutions.
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