DarioHealth (NASDAQ: DRIO), a leader in the global digital therapeutics (“DTx”) market, today reported financial results for the fourth quarter and full year 2022 and provided a corporate and commercial update. “During the fourth quarter, we continued to see substantial improvements in our financial results driven by our pivot to a business-to-business (‘B2B’) business model, including robust revenue growth, an increase in gross margin, lower operating expenses and net loss, and reduced cash usage,” said Erez Raphael, chief executive officer of Dario. “Notably, operating loss in the fourth quarter declined by 58% to $9 million compared to $21.7 million in the fourth quarter of 2021 and non-GAAP operating loss in the fourth quarter declined by 60% to $6 million compared to $15 million in the fourth quarter of 2021. These metrics demonstrate the significant revenue growth and operating expense efficiency that has resulted from the strategic transition to B2B integrated multi-condition platform, which continues to gain traction in the market.”
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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. On the path to better health, Dario makes the right thing to do the easy thing to do. To learn more about DarioHealth and its digital health solutions or for more information, visit www.DarioHealth.com.
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