Monday, March 25, 2019 8:30:53 AM
CAESAREA, Israel, March 25, 2019 /PRNewswire/ -- Global digital therapeutics innovator DarioHealth Corp. (DRIO), today reported record financial and operational results for the full-year ended on December 31, 2018.
DarioHealth Corp. (PRNewsfoto/DarioHealth Corp.)
More
Financial Highlights
Record annual revenues of $7.4 million, a 43% increase year-over-year (YOY)
In addition, DarioHealth recorded deferred revenue of $736,000 in 2018
Record billings (non-GAAP) of $8.13 million, a 57% increase YOY
Gross profit of $1.77 million, an increase of 35% YOY
37% increase in new subscribers YOY
"Throughout 2018, we continued our pioneering role in the burgeoning field of digital therapeutics. We had a number of significant achievements including the introduction of service oriented offerings in the form of membership plans (PMPM), our increase in sales as we shifted to a membership recurring revenue model, improving the average revenue per user (ARPU), obtaining regulatory clearances, and the publication of clinical data evidencing the benefit of our product offerings. We are looking forward to an exciting year in 2019, Q1 is progressing well and we expect continued growth," said Erez Raphael, Chief Executive Officer of DarioHealth.
DarioHealth made significant progress expending from direct-to-consumer (B2C) product sales to a business-to-business (B2B) model in 2018. The company announced several joint initiatives with healthcare providers, distributors, retailers, and payers' channels and expect these initiatives to accelerate our revenue growth in 2019.
The company's successful go to market efforts are reflected in new sales channels such as Amazon, BestBuy and the partnership with Giant Eagle. The company expects further collaborations as it expands its business development efforts in the burgeoning field of digital therapeutics.
During 2018, the company strengthened its management team with the additions of Sequoia Capital partner Yoav Shaked as the Chairman of the Board, and former Bayer Diabetes Care global business head, Olivier Jarry as President and Chief Commercial Officer.
Full Year 2018 Results Summary
For the twelve months ended December 31, 2018, revenues were $7.4 million, a 43% increase from revenues of $5.17 million for the twelve months ended December 31, 2017.
Revenues generated during the year ended December 31, 2018 were derived mainly from the sales of DarioHealth's components and from the offering of our membership plans to our customers in the United States. We recorded an additional $736,000 as deferred revenues from revenues generated from our new membership offering to our customers in the U.S.
Gross profit increased by $454,000, a 35% increase, to a profit of $1.8 million in the twelve months ended December 31, 2018, compared to gross profit of $1.3 million in the twelve months ended December 31, 2017.
Operating loss for the twelve months ended December 31, 2018 increased by $3.3 million to $17.7 million, compared to a $14.4 million operating loss in the twelve months ended December 31, 2017.
The increase in operating loss was mainly due to the increase in operating expenses partially offset by the improvement in the gross profit compared to the twelve months ended December 31, 2017.
Net loss attributable to holders of common stock increased by $2.1 million, a 13% increase, to $17.8 million in the twelve months ended December 31, 2018, compared to $15.7 million in the twelve months ended December 31, 2017.
Non-GAAP billings for the twelve months ended December 31, 2018 were $8.13 million, a 57% increase from $5.17 million in the twelve months ended December 31, 2017. A reconciliation of GAAP to non-GAAP measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading "Non-GAAP Financial Measures.
https://finance.yahoo.com/news/dariohealth-reports-fourth-quarter-end-101500757.html
Recent DRIO News
- Form 8-K - Current report • Edgar (US Regulatory) • 09/20/2024 08:05:29 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 09/13/2024 08:05:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/12/2024 08:37:42 PM
- Dario Introduces Integration of Twill Behavioral Health Capabilities into Cardiometabolic Health Solution to Enhance Member Engagement and Outcomes • PR Newswire (US) • 09/12/2024 12:30:00 PM
- Dario Publishes New Research Revealing How Physical Activity Mediates the Impact of Depression on Blood Glucose Levels in Individuals with Diabetes or Prediabetes • PR Newswire (US) • 09/10/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 09/10/2024 10:00:13 AM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/28/2024 10:12:05 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/23/2024 08:05:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/23/2024 08:05:20 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 08:01:57 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 08/20/2024 08:01:15 PM
- DarioHealth Reports Second Quarter 2024 Financial and Operating Results • PR Newswire (US) • 08/08/2024 10:30:00 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 08/08/2024 10:05:39 AM
- DarioHealth to Report Second Quarter 2024 Results on Thursday, August 8th • PR Newswire (US) • 07/30/2024 12:30:00 PM
- Dario Expands GLP-1 Solution Client Base with New Employer Contract • PR Newswire (US) • 07/16/2024 12:30:00 PM
- Dario Demonstrates 12 Months of Sustained Healthy Behavior Change for Members Taking a GLP-1 • PR Newswire (US) • 06/25/2024 12:30:00 PM
- Form 4 - Statement of changes in beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 08:02:27 PM
- Form 3 - Initial statement of beneficial ownership of securities • Edgar (US Regulatory) • 06/07/2024 08:01:19 PM
- Form 8-K - Current report • Edgar (US Regulatory) • 06/05/2024 12:30:15 PM
- Empowering Commercial Expansion: DarioHealth Announces Strategic Reorganization and Appoints Inaugural Chief Commercial Officer • PR Newswire (US) • 06/05/2024 12:30:00 PM
- DarioHealth Reports First Quarter 2024 Financial and Operating Results • PR Newswire (US) • 05/15/2024 10:30:00 AM
- Form 10-Q - Quarterly report [Sections 13 or 15(d)] • Edgar (US Regulatory) • 05/15/2024 10:06:09 AM
- DarioHealth to Report First Quarter 2024 Results on Wednesday, May 15th • PR Newswire (US) • 05/07/2024 12:30:00 PM
- Dario Publishes New Peer-Reviewed Study that Deepens the Body of Evidence that Managing Cardiometabolic Conditions in One Integrated Platform Improves Clinical Outcomes • PR Newswire (US) • 04/25/2024 12:30:00 PM
North Bay Resources Commences Operations at Bishop Gold Mill, Inyo County, California; Engages Sabean Group Management Consulting • NBRI • Sep 25, 2024 9:15 AM
CEO David B. Dorwart Anticipates a Bright Future at Good Gaming Inc. Through His Most Recent Shareholder Update • GMER • Sep 25, 2024 8:30 AM
Cannabix Technologies and Omega Laboratories Inc. Advance Marijuana Breathalyzer Technology - Dr. Bruce Goldberger to Present at Society of Forensic Toxicologists Conference • BLOZF • Sep 24, 2024 8:50 AM
Integrated Ventures, Inc Announces Strategic Partnership For GLP-1 (Semaglutide) Procurement Through MedWell USA, LLC. • INTV • Sep 24, 2024 8:45 AM
Avant Technologies Accelerates Creation of AI-Powered Platform to Revolutionize Patient Care • AVAI • Sep 24, 2024 8:00 AM
VHAI - Vocodia Partners with Leading Political Super PACs to Revolutionize Fundraising Efforts • VHAI • Sep 19, 2024 11:48 AM