Business
DarioHealth Reports Second Quarter 2022 Financial and Operating Results
Q2 revenue of 6.2 million, a 17.5% increase from the $5.3 million of the second quarter of 2021. Six-month year-to-date revenue totaled $14.2 million, a 60.8%
About this update from Dariohealth Corp.
[{"type":"text","content":"Q2 revenue of 6.2 million, a 17.5% increase from the $5.3 million of the second quarter of 2021. Six-month year-to-date revenue totaled $14.2 million, a 60.8% increase over the first six months of 2021$55 million in total commercial contract value reflecting continued strong momentum across Business-to-Business-to-Consumer (B2B2C) channelsSelected by a national health plan as strategic behavioral health partner, providing reach to nearly ten million additional membersSanofi and other strategic partnerships gaining traction and expected to accelerate recurring revenue streams from employers and health plansImproved financial profile as company completes shift to B2B2C focus and reports $68 million of cash and equivalents on the balance sheet as of June 30Company to host conference call and webcast 8:30 am ET today\nNEW YORK, Aug. 15, 2022 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) (\"Dario\" or the \"Company\"), a leader in the global digital therapeutics (DTx) market, today reported financial results for the second quarter 2022 and provided a corporate and commercial update.\n\"Dario continues to enjoy tremendous momentum since establishing our focus on B2B2C customer channels more than two years ago, reflecting the market's increasing demand for integrated, holistic digital health solutions to manage chronic conditions,\" stated Erez Raphael, Chief Executive Officer of Dario. \"We now see B2B2C contract values totaling $55 million in the aggregate, demonstrating the strength of our offering as an emerging leader in the digital therapeutics market.\"\n\"A clear highlight since our last quarterly update is our recent contract with a national health plan to deploy our behavioral health solution through its behavioral health platform, allowing us to reach approximately ten million additional members. A brief contracting delay with this plan contributed to the decline in revenue during the second quarter relative to the first quarter. However, we anticipate that this will reverse in the second half of 2022, as this plan has already started contributing revenue in the current quarter.\"\n\"Our Direct-to-Consumer (DTC) business was foundational to the initial development of Dario's platform as it exists today, yielding the data and insights necessary to drive the product enhancements necessary to create attractive solutions for ...