DarioHealth Corp. - Common Stock (DRIO)

PESG Releases Report: In a healthcare market brimming with potential, DarioHealth Corp. (Nasdaq: DRIO)* is quietly emerging as a standout player, combining cutting-edge technology with proven outcomes. Looking at recent achievements, it seems DarioHealth’s multi-condition digital health platform and its accelerating financial trajectory may position it as a sleeper hit in a rapidly growing sector.

Market News Alerts Updates that DarioHealth Corp. (Nasdaq: DRIO) is taking another bold step into the rapidly growing weight-loss market, now projected to exceed $100 billion annually by 2030. The company’s latest move expands its GLP-1 offering with prescribing capabilities, positioning Dario to capture a larger share of this lucrative space as demand for medical weight-loss solutions skyrockets across employers and consumers. Following the announcement, Dario’s shares surged nearly 14%, reflecting investor excitement over this significant growth opportunity.

DarioHealth (NASDAQDRIO), a leader in the global digital-health market, has entered a new contract with a national Medicare Advantage health plan. The partnership significantly expands Dario’s footprint and involves making its behavioral health solution — Twill by Dario — available to plan members, who number more than one million; the plan will be available beginning January 2025. According to the announcement, Dario’s artificial intelligence (“AI”)-based network navigation integrates support across community resources, helps members identify the right health plan benefits and receive optimal support for a wide variety of needs related to Social Determinants of Health (“SDoH”) and provides tailored experiences for members engaging with its digital Cognitive Behavioral Therapy (“CBT”) programs.

DarioHealth Corp. (NASDAQDRIO) announced on Thursday morning that it has integrated Twill’s expert-led, condition-specific peer groups into its cardiometabolic health platform, aiming to boost member engagement and improve health outcomes. This integration deepens the holistic approach Dario uses to manage chronic conditions such as diabetes, hypertension, and weight management, offering personalized digital mental health tools and social support. Members will now benefit from peer-to-peer groups, access to healthcare experts, and tailored educational content, enhancing the platform’s ability to engage users more effectively and improve overall health outcomes.

DarioHealth (NASDAQDRIO), a leader in the global digital health market, has published a study in the peer-reviewed “Frontiers in Endocrinology” journal. According to the announcement, the study provides an overview of new research that confirms the benefit of Dario’s integrated, data-driven approach to health and chronic-condition management. The study examined retrospective data from 989 users who regularly tracked their steps levels and blood glucose (“BG”) levels for 12 months using Dario’s cardiometabolic solution. Data gathered demonstrated the effectiveness of Dario’s cardiometabolic solution for individuals living with diabetes or prediabetes and depression. The research was conducted in partnership with Integrative Pain Laboratory, the School of Public Health at the University of Haifa , Israel.

DarioHealth (NASDAQDRIO), a leader in the global digital health market, is reporting its financial results for second quarter 2024. Highlights of the report show that revenue for the quarter totaled $6.26 million, an 8.6% increase over Q1 2024 and a 1.7% over Q2 2023; Q2 commercial and consumer revenues came in at $7.34 million before a nonrecurring price concession in collaboration with a pharma partner, a 105% increase over Q2 2023; and core business-to-business-to-consumer (“B2B2C”) revenue channel, recurring revenues from employers and health plans in the second quarter, totaled $5.5 million, up 315% year over year and 60% sequentially from Q1 2024. The report also indicated that DarioHealth ended the quarter with cash equivalents of $22.9 million and anticipates reaching cash-flow breakeven by the end of 2025.

DarioHealth (NASDAQDRIO), a leader in the global digital health market, is planning to release its financial results for the second quarter 2024, covering the period ended June 30, 2024. According to the announcement, the company will release the report on Aug. 8, 2024, before the market opens. In addition, the company has scheduled a conference call and webcast to discuss the financial results and business report; the call is slated to begin at 8:30 a.m. ET on the same day. DarioHealth CEO Erez Raphael and COO Steven Nelson will host the call. Those interested in accessing the call can dial 1-800-717-1738 (domestic) or 1-646-307-1865 (international). The company also noted that a recorded version of the call would be available. Those interested in listening to the recorded call can dial 1-844-512-2921 (domestic) or 1-412-317-6671 (international) and use passcode 1163410.

DarioHealth (NASDAQDRIO), a leader in the global digital health market, today announced a new contract with a national employer to provide its cardiometabolic solution with integrated support for GLP-1s to employees beginning in the third quarter of 2024. “The challenges associated with GLP-1s make a behavior change support program critical for any payer or employer in order to deliver alongside access to the medications. Dario’s expertise in utilizing its platform to support behavior change and proven outcomes gives employers confidence in our ability to drive lasting results, especially now as we integrated Twill engagement capabilities and behavioral support with access to providers and peer-to-peer communities as integrated components in Dario’s intelligent platform,” said Steven Nelson, chief commercial officer at Dario. “We believe that employers, payers and pharmaceutical companies see tremendous value in the combination of Dario and Twill as an integrated offering to help solve the urgent challenges of GLP-1 management. In fact, we expect at least ten of our employer clients to adopt our integrated offering in the next quarter or so to leverage the power of our enhanced multi-chronic condition platform.”

DarioHealth (NASDAQDRIO), a leader in the global digital health market, today announced two new studies presented this past weekend at the 84th Annual American Diabetes Association (“ADA”) Scientific Sessions in Orlando. According to the announcement, the first study provides an analysis of member data for those tracking a GLP-1 medication in Dario’s cardiometabolic solution. “This new research shows there is tremendous value in giving people a digital health solution designed for behavior change alongside GLP-1 medications,” said Yifat Hershcovitz, PhD., vice president of clinical and scientific affairs at Dario. “We are excited to see this early data reinforce what we have seen in general member population: our highly personalized approach to behavior change works.”

DarioHealth (NASDAQDRIO), a leader in the global digital health market, today announced a strategic reorganization designed to streamline leadership and focus the organization on accelerating its commercialization efforts. The move reflects Dario’s commitment to bringing its innovative solutions to the market faster, maximizing customer impact, and driving the organization to profitability. To achieve this goal, DarioHealth is implementing a new organizational model. The president role will be eliminated, and dedicated C-level positions will be established for each core function, reporting directly to the chief executive officer. The newly created role of chief commercial officer (“CCO”) will be in addition to the existing C-Level roles. Further strengthening its commercial focus, DarioHealth announced the appointment of Steven Nelson as its CCO. “We are excited to welcome Steven as DarioHealth’s chief commercial officer. We are confident that his exceptional track record and experience will accelerate our growth, bring us to cash flow positive, and capitalize on our pipeline of commercial opportunities which, after the expanded product offering through the Twill acquisition, is larger than ever before,” said Dario CEO Erez Raphael. The addition of a CCO to our management structure ensures that there is a c-level executive strictly focused on commercial activities that will allow us to continue to deliver on our mission to transform the current health and care experience for members.”

DarioHealth (NASDAQDRIO), a leader in the global digital health market, today reported financial results for the first quarter 2024. Among the highlights, the company reported first quarter revenue of $5.8 million, reflecting a 59% increase over the fourth quarter of 2023 primarily resulting from an increase in B2B2C revenues. “In the first quarter, our revenue increased by 59% over the fourth quarter 2023 reflecting organic growth with our legacy business-to-business-to-consumer (‘B2B2C’) channel, as well as revenue contribution from our recent acquisition of Twill Inc. B2B2C revenue as a portion of total revenue grew to 60% in Q1 2024 versus 31% in 4Q 2023. The legacy Dario B2B2C channel revenue grew 38% sequentially over the fourth quarter of 2023, primarily due to the launch of the Aetna platform, expansions of existing customer contracts and new customer launches. We expect the growth to continue into the second quarter as we see revenue contribution from customers that launched mid-first quarter and in the second quarter, and as we see a full quarter of revenues from Twill,” said Dario CEO Erez Raphael. “We believe we have reached a major turning point in the scaling of our business and the acceleration of our path to profitability. With our new customer launches in the B2B2C channel, coupled with high margin revenue scale, operational efficiencies and product expansion through the Twill acquisition, we believe that we can achieve significant revenue growth in our core business on a combined basis in 2024, with even greater growth over the longer term, including cross sell opportunities that we are currently executing on.”

DarioHealth (NASDAQDRIO), a leader in the global digital health market, is planning to release its financial results for the first quarter 2024, the period ended March 31, 2024. According to the announcement, the company will release the report on May 15, 2024, before the market opens. In addition, the company has scheduled a conference call and webcast to discuss the financial results and business report; the call is slated to begin at 8:30 a.m. ET on May 15. DarioHealth CEO Erez Raphael and Rick Anderson, DarioHealth president, will host the call. Those interested in accessing the call can dial 1-888-886-7786 (domestic) or 1-416-764-8658 (international). The company also noted that a recorded version of the call would be available. Those interested in listening to the recorded call can dial 1-844-512-2921 (domestic) or 1-412-317-6671 (international) and use passcode 02490000.

DarioHealth (NASDAQDRIO), a leader in the global digital health market, has new research being published in the leading peer-reviewed journal for digital health and medicine, the “Journal of Internet Medicine.” The research is based on a quasi-randomized study that demonstrates the value of Dario’s integrated approach in providing a solution for members to manage diabetes, prediabetes, blood pressure, weight and the use of a GLP-1. According to the announcement, the study indicates a clinically significant reduction in blood glucose levels for members using Dario to manage weight alongside diabetes. This new study involved data from 1,932 Dario members over the course of a year, with 50% of the participants who regularly used Dario’s weight-monitoring feature being propensity score matched with 50% of participants who did not use the weight-monitoring feature. DRIO conducted the research with Integrative Pain Laboratory, the School of Public Health at the University of Haifa. During a six-month period, members using a digital weight-monitoring feature experienced a significant reduction in blood glucose levels and BMI, with 85% of individuals in the weight-monitoring group achieving a reduction in blood glucose levels below the estimated A1c threshold of 9.0 in their last month of measurement compared to 76% of the individuals in the group using Dario to manage diabetes alone. “Type 2 diabetes and obesity share the same web of underlying health behaviors, and yet we often ask people to engage in multiple solutions to address these conditions separately,” said DarioHealth chief medical officer Omar Manejwala, MD, in the press release. “It adds undue burden to the behavior change process and can impede engagement on one or both conditions, which ultimately hurts outcomes. The results of this study show a clear benefit to having a single approach, and we are excited to continue adding evidence of the need for more integrated chronic condition solutions like Dario.”

DarioHealth (NASDAQDRIO), a leader in the global digital health market, has announced that two employers, a national supply chain company and a regional education organization, have selected its integrated chronic condition management solutions. According to the announcement, beginning in the second quarter of 2024, Dario will provide solutions to improve outcomes for employees with cardiometabolic health conditions, including diabetes, pre-diabetes, hypertension, and weight management needs, including support for individuals taking a GLP-1 medication. “The trend towards integrated solutions continues to grow as employers look to reduce point solutions in favor of a single integrated solution that has a better member experience and has a lower cost of ownership when compared to managing multiple point solutions. Our new accounts are excited about Dario’s proven ability to effectively engage people across multiple related conditions, and we look forward to delivering the market-leading results our clients deserve,” said Rick Anderson, president of Dario.

DarioHealth (NASDAQDRIO), a leader in the global digital health market, has published two studies in the leading peer-reviewed journal for digital health and medicine, the “Journal of Internet Medicine. ” The studies include a randomized controlled trial (“RCT”) demonstrating the impact of a digital stress reduction program for teens. According to the announcement, the first study used an RCT, which is “the gold standard in research,” to demonstrate the impacts of a self-guided Digital Mental Health Intervention (“DMHI”) for teens. The study showed that teens engaged in the DMHI saw significant improvements in perceived stress, brooding and loneliness compared to a group of teens waiting for access. The second study examined the relationship between the use of relaxation tools such as breathing exercises and cognitive behavioral therapy (“CBT”)-based videos in a digital behavioral health solution and the level of stress reduction. “Digital solutions for mental health offer tremendous value as a convenient means of accessing proven treatment and support, especially for those at higher risk of experiencing a mental health need, such as people living with chronic conditions or teenagers,” said DarioHealth vice president of clinical and scientific affairs Yifat Hershcovitz, PhD, in the press release. “Better understanding of how different components impact outcomes is critical to helping further personalize mental health experiences in meaningful ways, and we are thrilled to see these research efforts published.”

DarioHealth (NASDAQDRIO), a leader in the global digital therapeutics (“DTx”) market, has announced that it will release its financial results for the fourth quarter ended Dec. 31, 2023, before market opens on Thursday, March 28, 2024. At 8:30 a.m. Eastern Time on that same day, the company will host a conference call and webcast. Interested parties should dial 1-888-886-7786 (domestic) or 1-416-764-8658 (international) or visit the Call me(TM) link at https://ibn.fm/Vit3y for instant telephone access to the event and visit https://ibn.fm/4PVFI to register for and access the webcast. A replay of the call will be available as detailed in the announcement.

DarioHealth (NASDAQDRIO), a leader in the global digital health market, is reporting on its fourth-quarter and full-year 2023 financial results; the company also releases a corporate and commercial update. Highlights of the report include $20.4 million full-year 2023 revenue, down from 2022 revenue of $7.3 due to a managed decrease in B2C and strategic milestone revenue as the core business-to-business-to-consumer (“B2B2C”) revenue increased; B2B2C, employers and health plans recurring revenues increased 39% year over year; commercial revenues brought in the majority of the revenue with B2B2C growing from 13% to 25% of total revenue from 2022 to 2023; GAAP operating expenses decreased by 11.2% sequentially from the third quarter of 2023 with Non-GAAP operating expenses down 9.4% sequentially from the third quarter; and total pro forma nonaudited revenues of approximately $38 million for the integrated entity in 2023. In addition, the report noted that Dario had signed multiple customers onto the Aetna platform, which launched in Q1 2024; the company also reported significant interest and multiple employer adoption of its GLP-1 Behavioral Change Program. “[Last year] was a very significant year for Dario,” said DarioHealth CEO Erez Raphael in the press release. “Our financial profile continued to improve as a result of our pivot to a business-to-business-to-consumer business model with growing B2B2C revenue and decreasing operating costs. . . . Last month we announced the transformational acquisition of Twill Inc., accompanied by a $22.4 million equity financing. We believe this acquisition propels Dario forward, creating immediate scale with three of the top eight national health plans, some of the largest technology companies and several major pharmaceutical companies as customers. Following the recent acquisition of Twill, we have commenced selling our new combined offerings and have begun the integration process and expect to report outcomes in the coming quarters. We believe that this acquisition completely transforms Dario and firmly establishes it as one of the leaders in the space, that understands how to leverage organic and inorganic growth to improve financial metrics and manage responsible growth. We ended the year with a strong cash position of $37 million, not including the $22.4 million financing in the first quarter of 2024, which we believe puts us in a great position to execute our strategy.”

DarioHealth (NASDAQDRIO), a leader in the global digital therapeutics (“DTx”) market, has announced that it will release its financial results for the fourth quarter of fiscal 2023 for the three months ended Dec. 31, 2023, on Thursday, Mar. 28, 2024, before market open. Additionally, DarioHealth’s CEO Erez Raphael and President Rick Anderson will host a conference call and webcast on the same date at 8:30 am ET. Those interested in participating in the conference call can dial 1-888-886-7786 (domestic) or 1-416-764-8658 (international), while those interested in viewing the webcast can visit https://ibn.fm/MNq5G .

DarioHealth (NASDAQDRIO), a leader in the global digital health market, recently presented two new clinical studies at the 17th International Conference on Advanced Technologies and Treatments for Diabetes (“ATTD”) 2024. The conference was held in Florence, Italy, on March 6–9, 2024. According to the announcement, one of the studies presented at the three-day gathering is the first of a planned series of studies designed to examine the impact of Dario’s integrated cardiometabolic solution as a means to address weight and diabetes with or without a GLP-1. During this study, researchers looked at data gathered for 6,963 people living with prediabetes who used Dario’s smart blood glucose meter combined with weight tracking. The study showed a 6.38% reduction in weight for members with a baseline BMI of 30 and above as well as an overall reduction in blood glucose levels. The second study evaluated the effectiveness of Dario’s digital health solution as a means to improve flu vaccine awareness and rates. Results of that study indicated that digital health platforms with an established relationship in existing member bases can play an effective role in supporting flu vaccination campaigns and outcomes. “We are thrilled with the results on Dario’s ability to meaningfully impact the clinical measures associated with prediabetes, helping our members adopt the healthier behaviors necessary to reduce their risks of type 2 diabetes,” said DarioHealth vice president of clinical and scientific affairs Yifat Hershcovitz, PhD, in the press release. “This data clearly shows the value of a single approach to supporting the weight loss and blood-glucose improvements needed to help make those changes possible.”

DarioHealth (NASDAQDRIO), a leader in the global digital health market, will be participating in the 44th annual Cowen Healthcare Conference. The three-day event is slated for March 4–6, 2024, in Boston. During the conference, DarioHealth CEO Erez Raphael and president Rick Anderson will be featured in a fireside chat scheduled to begin at 10:30 a.m. on March 6. A replay of the chat will be available following the event. The company is focused on changing how people with chronic conditions manage their health by providing a user-centric, multichronic condition digital therapeutics platform and suite of solutions that deliver personalized interventions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain and behavioral health.

DarioHealth (NASDAQDRIO), a leader in the global digital health market, has acquired Twill Inc., a leader in digital-led care. According to the announcement, the acquisition will allow the company to “create one of the most comprehensive digital offerings in the market for chronic conditions, spanning a wide spectrum of health and well-being needs from emotional health to the costliest chronic conditions.” The company reported that the transaction creates immediate scale, with existing Twill customers including three of the top eight national health plans as well as several Fortune 100 employers and major pharmaceutical companies. The company projected that the acquisition will deliver several key results, including nearly doubling its pro forma revenues , accelerating market penetration and driving greater sales opportunities. In addition to the acquisition, the company also announced a $22.4 million private placement of convertible preferred stock, priced at the market under NASDAQ rules, with participation from investors from both companies. “The Twill acquisition is an incredible opportunity to bring together our complementary solutions and create an unrivaled platform for the next generation of consumer-centric digital health,” said DarioHealth CEO Erez Raphael in the press release.

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DarioHealth (NASDAQDRIO), a leader in the global digital health market, announced a new contract to provide its proprietary cardiometabolic solution to a regional union. According to the announcement, the new contract is evidence that DRIO’s integrated solution to support improved whole health is gaining traction in the public and labor market. The union, which represents food industry workers, contracted with Dario to provide key support for its members dealing with diabetes, prediabetes and weight-management needs; the contract also includes support for individuals taking a GLP-1, or anti-obesity, medication. The company’s offerings have been proven to engage employees in healthier behaviors over time, including successful deployments in nonoffice environments where unions are more prevalent. The contract will go into effect during Q1 2024. “We believe that this new contract is an early indicator of the strong start Dario is enjoying in 2024 as we see growing demand coupled with the launch of Aetna and several previously contracted employers in the first quarter of 2024,” said DarioHealth president Rick Anderson in the press release. “We’ve proven our ability to deliver results with multiple labor organizations across a variety of industries, and we are excited to welcome this customer to our platform and start delivering on the promise.”

DarioHealth (NASDAQDRIO), a leader in the global digital health market, today announced a new contract to provide cardiometabolic and GLP-1 solutions to a national employer beginning in January 2024. The national logistics company selected Dario to deliver integrated support for employees living with diabetes, pre-diabetes, weight management and hypertension, while also providing a tailored experience for employees taking a GLP-1 medication. “GLP-1 medications are creating tremendous upheaval for employers and payers, and our new contract is a great example of how Dario is helping employers address the growing and costly problem,” said Rick Anderson, president of Dario. “Dario’s solutions have been proven, in prior studies, to deliver long-term behavior change with and without a GLP-1 medication to help employers realize the full potential in health outcomes.”

DarioHealth (NASDAQDRIO), a leader in the global digital health market, has been selected by Blue Shield of California to expand the nonprofit health plan’s services. According to the announcement, Blue Shield of California is adding Dario’s at-home solution for high blood pressure, or hypertension, that combines personalized health coaching and tech-enabled monitoring. The addition is part of Blue Shield of California’s Wellvolution program, which was created to offer personalized solutions to address individual needs; Wellvolution offers at least one Spanish language program for each health need covered under the platform, including diabetes, weight management, mental health, tobacco cessation and hypertension. Dario’s program is available in both English and Spanish, and features intelligent technologies combined with personal coaching support to help members track and reduce hypertension, while improving health behaviors. Blue Shield of California is committed to creating a healthcare system that is sustainably affordable; the organization is a tax-paying, nonprofit, independent member of the Blue Shield Association with more than 4.8 million members. “Over 30% of Californians have hypertension,” said DarioHealth chief medical officer Omar Manejwala, MD, in the press release. “By offering Dario for Hypertension through Wellvolution at no additional cost, more Californians have the chance to improve their cardiovascular health, which directly correlates to instances of heart disease and stroke, both leading causes of death in California.”