DarioHealth Corp (DRIO)

[StockHighAlert-]

Financial Results for the Three Months Ended September 30, 2019:

Revenue for the third quarter ended September 30, 2019 was $1.87 million, a 13% sequential increase over Q2 2019 and a 0.6% decrease from $1.88 million in the third quarter ended September 30, 2018.

Gross profit of $873,000, representing 46.7% of revenues, was recorded for the three months ended September 30, 2019, an increase of 86%, or $405,000, compared to gross profit of $468,000 for the three months ended September 30, 2018.

Operating loss for the three months ended September 30, 2019 decreased by $1.25 million to $2.8 million, as compared to a $4.5 million operating loss for the three months ended September 30, 2018.

Net loss attributable to holders of common stock decreased by $1.26 million to $2.8 million for the three months ended September 30, 2019, as compared to $4.1 million for the three months ended September 30, 2018.

Our new B2B focus has allowed us to be more efficient with our use of cash, extending our runway of existing balance sheet resources.

As of September 30, 2019, cash and cash equivalents totaled approximately $4.6 million.

Non-GAAP billings for the three months ended September 30, 2019 were $1.78 million, a 20% decrease from $2.2 million in the three months ended September 30, 2019. 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."