Business
DarioHealth Reports Results For Second Quarter 2019
NEW YORK and CAESAREA, Israel, Aug. 13, 2019 /PRNewswire/ -- Q2 2019 Revenue of $1.65 million, a 20% decline from Q2 2018 Record 1H 2019 Revenue of $3.89
About this update from Dariohealth Corp.
[{"type":"text","content":"NEW YORK and CAESAREA, Israel, Aug. 13, 2019 /PRNewswire/ -- \nQ2 2019 Revenue of $1.65 million, a 20% decline from Q2 2018 Record 1H 2019 Revenue of $3.89 million, a 2% increase over 1H 2018 Expense shift from D2C to B2B, resulting in a short-term decline in Revenue and an expectation of significant reductions to Net loss in 2H 2019 Significantly advanced key 2019 initiative to expand growth strategy solely from the direct-to-consumer (D2C) channel to include the more scalable, lucrative business-to-business (B2B) channel Launched FDA cleared Blood Pressure Monitor and Hypertension management tool; additional functionality expands Dario's product offering, while increasing potential average revenue per user (ARPU) and improving patient care Presented strong, supportive data at the American Diabetes Association (ADA) Conference in June, highlighting improved in range readings for blood glucose and lowered A1C levels for people with Type 2 Diabetes Closed a $7.2 million financing with U.S. institutional investors, providing capital for the Company's strategic growth initiativesGlobal digital therapeutics innovator DarioHealth Corp. (Nasdaq: DRIO), today reported financial and operational results for the second quarter ended June 30, 2019.\nCEO, Erez Raphael, stated, \"During this quarter, we strengthened our platform technology by expanding its application to hypertensive patients, presenting new significant data for people with diabetes that supports meaningful clinical outcomes and increases the basic functionality through its use on the Android phone in Europe. All of these initiatives created a better technology for a broader patient base who benefit from active management of their chronic diseases. \nDuring this quarter, we witnessed concrete evidence from our pipeline of payers, employers, and providers of their growing demand for value and accountability driven healthcare, enabled by the user-centric and evidence-based solutions that Dario provides.\nAs our focus shifts to take advantage of these market tailwinds and our business-to-business (B2B) pipeline activity accelerates, we will continue to support our direct-to-consumer (D2C) sales and marketing initiatives but with budgets weighted towards broader B2B business development. The resulting benefits will be measurable in terms of larger patient adoption, more certain ...