DarioHealth (NASDAQ: DRIO), a leader in the global digital therapeutics (“DTx”) market, is reporting on its financial results for the second quarter 2022; the company also released a corporate and commercial update. Highlights of the report include revenue for the quarter, which totaled 6.2 million, a 17.5% increase from Q2 2021, which was $5.3 million, with six-month year-to-date revenue coming in at $14.2 million, a 60.8% increase over the same period last year. In addition, DRIO reported $55 million in total commercial contract value, noting its continued strong momentum across business-to-business-to-consumer (“B2B2C”) channels. DarioHealth also contracted with a national health plan as a strategic behavioral health partner to support 10 nearly ten million additional members, and DRIO’s strategic partnerships are increasing, a trend that the company anticipates will accelerate, resulting in increased revenue streams from employers and health plans. The company noted its improved financial profile as it completes a shift to become more B2B2C focused. “We are seeing continued contract and revenue growth with several ‘off-cycle’ employer sales, and our previously announced health plans contributing to revenue,” said DarioHealth president of North America Rick Anderson in the press release. “Our collaboration with Sanofi continues to gain traction, as the Sanofi sales organization amplifies our efforts and starts to yield health plan and other strategic opportunities. Similarly, our partnership with Solera Health is off to a strong start, with a large regional health plan in the late contracting phase, offering further evidence of the value that we can drive through our partner channels. Our pipeline is the richest it has been in the company’s history, driven by the breadth and depth of our integrated, multi-chronic condition platform. We anticipate announcing many more customers from our growing pipeline over the remainder of the year.”
To view the full press release, visit https://ibn.fm/I6bmW
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. For more information about the company, please visit www.DarioHealth.com.
NOTE TO INVESTORS: The latest news and updates relating to DRIO are available in the company’s newsroom at http://ibn.fm/DRIO
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