{"id":453354,"date":"2021-03-09T06:33:39","date_gmt":"2021-03-09T11:33:39","guid":{"rendered":"http:\/\/www.marketnewsdesk.com\/?p=453354"},"modified":"2021-03-09T06:33:39","modified_gmt":"2021-03-09T11:33:39","slug":"dariohealth-reports-fourth-quarter-and-full-year-2020-results-and-operational-highlights","status":"publish","type":"post","link":"https:\/\/www.marketnewsdesk.com\/index.php\/dariohealth-reports-fourth-quarter-and-full-year-2020-results-and-operational-highlights\/","title":{"rendered":"DarioHealth Reports Fourth Quarter and Full Year 2020 Results and Operational Highlights"},"content":{"rendered":"
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Significant progress across all pillars of long term strategic operating plan<\/h2>\n

Successfully secured multiple accounts in the B2B channel which are already enrolling members and generating revenue<\/h2>\n

Upright acquisition expands digital therapeutics offering to include musculoskeletal, attracting interest from existing and prospective B2B2C customers<\/h2>\n

Completed financing with elite healthcare funds provides capital to execute on growth initiatives with cash and cash equivalents of approximately $90 million at closing of the financing<\/h2>\n

Company to host conference call and webcast 8:30 am ET today.<\/h2>\n

PR Newswire<\/p>\n<\/p><\/div>\n

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\n NEW YORK<\/span>, March 9, 2021<\/span> \/PRNewswire\/ — DarioHealth Corp. (Nasdaq: DRIO), a pioneer in the global digital therapeutics market, today reported financial results for the fourth quarter and full year 2020 and provided a corporate and commercial update.<\/p>\n

\n \"Dario\n <\/div>\n

“The year 2020 was transformational for our company, as we made significant progress across all three pillars of growth: our transformation to a software as a service (SaaS) business model with high margin recurring revenues; our transition to a Business-to-Business-to-Consumer (B2B2C) focused digital therapeutics provider with larger member pools and lower customer acquisition costs; and the ongoing expansion of our product offering to manage multiple chronic conditions,” stated Erez Raphael<\/span>, Chief Executive Officer of Dario. “We won multiple contracts during the year that I believe validate our transition to B2B2C and provide a foundation for meaningful growth in 2021. We believe that our successful implementation and penetration of these contracts will contribute to growing revenue throughout 2021. <\/p>\n

“A major highlight since our last quarterly update has been our acquisition of Upright in January 2021<\/span>, which adds a best-in-class musculoskeletal offering to our digital platform. Expansion into MSK allows us to address a top priority among health plans and self-insured employers and address conditions with significant comorbidity with our existing conditions. We anticipate expanding into additional conditions in the future to enable us to provide a robust offering that addresses our customers’ needs and provide the best personalized experience for our members. With cash and cash equivalents of approximately $90 million<\/span>, we have the capital resources to continue to execute on our vision,” Mr. Raphael concluded.<\/p>\n

“The fourth quarter continued our successful transition into the Business-to-Business (B2B) market with employer and health system wins, the expansion of our sales management team, the expansion of our offering into MSK and an expansion of our pipeline to more than $600 million<\/span>.\u00a0 We are very pleased with the progress that we have made in less than a year.\u00a0 We expect we will launch customers in all three of our market segments in 2021 as a result of the significant efforts that the team has taken in 2020,” stated Rick Anderson<\/span>, President and General Manager North America.\u00a0 “As we enter 2021, we have already launched, and are generating revenue from, all of the contracts that we have previously announced.\u00a0 Early enrollment has been robust and consistent with our expectations. We believe that these customer launches will contribute, along with anticipated additional contracts, to growing revenue in 2021 and beyond.” \u00a0<\/p>\n

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\n Q4 2020 and Recent Highlights<\/u>
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\n 4th Quarter Highlights:<\/b>\n <\/p>\n