DarioHealth (NASDAQ: DRIO), a leader in the global digital therapeutics (“DTx”) market, today reported financial results for the first quarter 2022 and provided a corporate and commercial update. “Our first quarter results reflect our increasingly successful transition to a B2B model with growing revenue and gross margins,” said Dario’s Chief Executive Officer Erez Raphael. “We increased revenue nearly 124% over the first quarter of last year and nearly 34% sequentially, and we expanded our gross margin on a GAAP basis to 49.4% and on a non-GAAP basis to 61%. Additionally, in light of the demonstrable traction and increasing revenue in the B2B (commercial) market segment, we continued to rationalize marketing spend in the direct-to-consumer segment resulting in improved margins, which drove a significantly narrower net loss and cash burn rate as compared to the fourth quarter of 2021. With the strategic agreement executed with Sanofi U.S. (Sanofi) and the $40 million financing that we closed in the quarter, we believe that we are in an excellent position to achieve our financial and operational goals for the foreseeable future.”
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About DarioHealth Corp.
DarioHealth is a leading global digital therapeutics company revolutionizing how people with chronic conditions manage their health. DarioHealth offers one of the most comprehensive digital therapeutics solutions on the market — covering multiple chronic conditions including diabetes, hypertension, weight management, musculoskeletal and behavioral health within one integrated technology platform. Dario’s next-generation, AI-powered, digital therapeutic platform supports more than just an individual’s disease. Dario provides adaptive, personalized experiences that drive behavior change through evidence-based interventions, intuitive, clinically proven digital tools, high-quality software, and coaching to help individuals improve health and sustain meaningful outcomes. Dario’s unique user-centric approach to product design and engagement creates an unparalleled experience that is highly rated by users and delivers sustainable results. The company’s cross-functional team operates at the intersection of life sciences, behavioral science and software technology and utilizes a performance-based approach to improve its users’ health. On the path to better health, Dario makes the right thing to do the easy thing to do. To learn more about DarioHealth and its digital health solutions, or for more information, visit www.DarioHealth.com.
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