DarioHealth sees 3Q revenues increase

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Thursday, November 12, 2020

NEW YORK – DarioHealth reported revenues of $2.04 million for the quarter ended Sept. 30, 2020, an increase of 14.2% from the second quarter ended June 30, 2020. Gross profit was $549,000, a decrease of $324,000 or 37% from the previous quarter in 2019. The company said the decrease is a result of a decrease in the average selling price of its products. Total operating expenses for the quarter were $7.15 million, operating loss was $6.6 million, and net loss was $6.55 million. Highlights from the quarter include: a partnership with HMC Healthworks to extend DarioHealth’s reach to HMC’s more than 1 million members; and inclusion in Vitality's new Gateway Flex offering, allowing Dario's digital therapeutics platform to be marketed to Vitality's employer base that provides benefits solutions to 20 million people.