DarioHealth (NASDAQ: DRIO), a leader in the global digital therapeutics (“DTx”) market, has reported financial numbers and corporate updates for third quarter 2022. Highlights of the report include revenues of $6.6 million, an increase of 17.3% from the $5.6 million reported in Q3 2021, with B2B revenues growing to 63.5% of total revenue for the quarter, up from 46% in the previous quarter. The report also noted a 30% reduction in net loss for the quarter with 85 contracts signed, representing $61 million in total contract value. The company also reported a high market demand for its comprehensive, multicondition platform. “In the third quarter, Dario continued to execute its strategic plan of offering what the market now demands most: a single, integrated, digital therapeutics platform for the management of multiple chronic conditions,” said Dario CEO Erez Raphael in the press release. “Employers and health plans increasingly recognize the value of an integrated multicondition single platform for chronic condition management because it more effectively engages users leading to better health while lowering the burden of contracting and managing multiple single-point solution vendors. We have now signed 85 B2B contracts with total value exceeding $61 million annually once fully implemented, with 50% of those contracts signed in 2022 for more than one condition, and we maintain our objective to hit our 100-contract target by year end. Our B2B business now contributes more than 63% of our revenues, and we see a large, growing pipeline heading into 2023.”
To view the full press release, visit https://ibn.fm/VrQIH
About DarioHealth Corp.
DarioHealth Corp. (Nasdaq: DRIO) 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.
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