DarioHealth (NASDAQ: DRIO), a leader in the global digital therapeutics (“DTx”) market, has reported its financial numbers and corporate update for the fourth quarter and full year. The company noted that it had experienced a transformational year with strong revenue growth of 190% quarter-over-quarter and 171% full year-over-full year, along with adding 54 new accounts in its B2B efforts. In addition, corporate highlights included the signing of a $30 million multiyear strategic agreement with Sanofi to accelerate adoption of the full suite of solutions with health plans along with the announcement of three strategic acquisitions designed to expand Dario’s suite of chronic condition solutions, helping to create one of the most comprehensive platforms on the market. The report also noted that a strengthened balance sheet resulting from $40 million raised through a registered direct offering. “The last year completely transformed Dario’s company profile as our business-to-business (‘B2B’) business grew significantly, both in terms of signed and launched, revenue-generating accounts and the overall growth of opportunity attributed to our integrated, multi-condition approach,” said Dario CEO Erez Raphael in the press release. “The strategic shift to expand our suite of solutions through acquisitions, coupled with our ability to quickly integrate capabilities and launch new products, created a leadership position for Dario in the digital therapeutics market, helping accelerate B2B sales and deliver strong revenue growth. With B2B revenue scaling up and increased operational efficiencies, we are expecting margin improvement and decreases in our burn rate to occur during 2022. Our ambitions are further bolstered by our new multiyear agreement with Sanofi, which represents a unique collaboration with a pharmaceutical company that we believe will accelerate our penetration in the health plan market and accelerate innovation and evidence on our platform.”
To view the full press release, visit https://ibn.fm/nYs8D
About DarioHealth Corp.
DarioHealth Corp. is a leading global digital therapeutics company revolutionizing the way 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. Dario’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. 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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