dariohealth-logoNasdaq-listed mHealth company, DarioHealth (DRIO), (web site) reported record Q4 and 2016 results after yesterday’s close.

 

2016 Highlights

  • Record revenues of $2.8 million, increased 241% compared to the full year 2015
  • Sequential quarterly revenue growth throughout the entire year
  • Direct-to-consumer model launched in U.S. with approximately 18,500 Dario™ Blood Glucose Monitoring System devices sold; accelerated in 2nd half of year with approximately 14,000 sold
  • Direct-to-consumer model launched in Australia and Canada
  • Nasdaq listing in March
  • Commenced investment discussions with OurCrowd Qure, an Israeli Digital Health Specialized Fund; subsequently closed in early 2017

Fourth Quarter Highlights

  • Record revenues of $838,000, increased 172% compared to the fourth quarter of 2015
  • Sequential quarterly revenue growth of 15% over third quarter of 2016
  • 67% of quarterly revenues derived from test strips and other consumables
  • Record 8,500 Dario™ Blood Glucose Monitoring System devices sold in the U.S.; 55% growth from third quarter of 2016
  • Consumable strips growth of 67% over third quarter of 2016
  • Nearly 95% of U.S. users have ordered test strips

According to the press release, DarioHealth expects sales to continue to accelerate in 2017 while reducing overall customer acquisition cost via:

  • execution of insurance reimbursement coverage options for U.S. consumers
  •  an increase in the percentage of higher-margin recurring consumable revenue
  • an expansion of the platform availability to include Android, which has been submitted to the FDA

 

Chairman and CEO of DarioHealth, Erez Raphael, commented,

“Our vision and focus allowed us to achieve a great deal over the last year, and has placed us in an advantageous position for further growth and market penetration for our Dario all-in-one smart glucose monitor and data platform. Our direct-to-consumer strategy in the U.S., launched mid-year, yielded the majority of our sales in this region, and continued to accelerate in the fourth quarter.

“We are encouraged by the fact we delivered on increased device sales, significant monthly user growth and established a predictable stream of high margin recurring subscription revenues from new customers. Furthermore, we are excited by the positive engagement we are achieving with our users, expect user growth to accelerate in 2017, and see revenue growth to continue in each sequential quarter, as it has grown until now.”


DarioHealth Conference Call Today, 9:00am ET

DarioHealth Corp. will hold a conference call today at 9am ET to discuss fourth quarter and full year 2016 results, as well as strategy and outlook for 2017.

  • The conference call will be hosted by Erez Raphael, Chief Executive Officer, and Zvi Ben-David, Chief Financial Officer.
  • The call can be accessed by dialing (866) 682-6100 or (862) 255-5401 and asking for the DarioHealth earnings conference call.
  • A live webcast of the call will also be available at: http://www.investorcalendar.com/IC/CEPage.asp?ID=175764

See also:

 DarioHealth February 2017 Investor Presentation

Rodman and Renshaw Report: DarioHealth BUY $12 PT

Joseph Gunnar & Co. Report: DarioHealth BUY $8 PT

 

About DarioHealth Corp.

DarioHealth is a leader in digital health self-management solutions. DarioHealth delivers the ability to combine and analyze consumer health data to personalize treatment and advance medical knowledge. Dario’s™ smart diabetes management solution is a platform for diabetes management that combines the Dario™ Blood Glucose Monitoring System all-in-one blood glucose meter, native smart phone app, website portal and a wide variety of treatment tools to support more proactive and better informed decisions by users living with diabetes, their doctors and healthcare systems.  Having recently launched in the largest market in the world for glucose monitoring, U.S. sales are expected to have a significant impact on revenues and gross margins. With marketing clearance in Europe and the U.S., the Dario iOS mobile app recently launched with reimbursement in the United Kingdom, Australia, Israel, Italy, and Canada, and has also launched in New Zealand, Netherlands, Italy, and Belgium.  For more information, visit http://mydario.investorroom.com/

 


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Nasdaq listed DarioHealth Corp. (DRIO) is pioneering the future of disease management and mobile health by providing consumers with laboratory-testing capabilities using smart phones and other mobile devices. Dario’s™ smart diabetes management solution is a platform for diabetes management that combines the Dario™ Blood Glucose Monitoring System all-in-one blood glucose meter, native smart phone app, website portal and a wide variety of treatment tools to support more proactive and better informed decisions by users living with diabetes, their doctors and healthcare systems.


In news today, (DarioHealth Ends a Successful Diabetes Awareness Month) DarioHealth Corp. (DRIO) announced the company added over 4,000 new sign-ups using their cost-effective, direct-to-consumer model.

 

Erez Raphael, DarioHealth’s Chief Executive Officer stated:

“During Diabetes Awareness Month, we welcomed thousands of new registrants. In the U.S. alone, we had over 4,000 new sign-ups. Our primary goal is to give members of our DarioHealth community the best user experience possible to deal with their diabetes. It is extremely encouraging and inspiring when we receive positive feedback. This is the ultimate vote of confidence and the results from Diabetes Awareness Month echo this. We continue to build on our success as we head towards 2017 and beyond.”

 

Leveraging the razor/razor blade model, the average consumer will use $300 of strips at 75% grow margins…part of the reason why the company turned a gross profit in Q3…and why adding 4,000 sign-ups for the month of November in the U.S. alone is significant.

Sales grew 166% last quarter, and it looks as management is delivering on stated guidance for “market penetration and user growth to accelerate in the fourth quarter”


For more on DRIO read our initial article: DarioHealth: Digital Disease Management Pioneer Experiencing Dramatic Growth

DarioHealth BUY Recommendation w $12 price target from Rodman and Renshaw

DarioHealth Corp. November 2016 Investor Presentation


DRIO stock - gary

 

 

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