Dario Health Company
Dario Health
+10.53%
closure:0
opening:5.17
High:5.75
low:5.17
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published preliminary and unaudited financial results for the fourth quarter and for 2022, in which it expects revenues of approximately $6.7 million and approximately $27.5 million respectively.
The expected revenues in the fourth quarter show a continuous increase in this quarter compared to the third quarter of 2022 ($6.6 million) which was even higher than the second quarter of 2022 ($6.2 million). According to the company, the revenues in the fourth quarter resulted from growth in the B2B channel that exceeded the managed decline of the B2C channel following the strategic change in the allocation of the company’s resources.
Also, the company presented a continuous improvement in its financial profile, and managed to lower its operating loss by more than 30% compared to the third quarter that ended on September 30, 2022, and by more than 50% compared to the fourth quarter of 2021.
The company’s cash balances and cash value at the end of 2022 were approximately $49.3 million. As part of the company’s credit agreement with Orbimed, monthly principal payments began in January 2023, amounting to $1.5 million per quarter.
Dario Health’s stock has risen by 23% since the beginning of the year to a price of $5.35 and a market value of $137.5 million.
Erez Raphael, CEO of Dario: “Based on the initial expected results, we were able to generate higher revenues in the face of lower expenses, which proves that our strategy to move from B2C to B2B sales channels is working and this is the way to maximize value for the company. We believe that the expected results for 2022 are particularly exciting because this is the time The first is that revenues from the B2B channel represent the majority of our revenues. The growth of the B2B business has led to a significant overall improvement in the company’s financial profile. In 2023, we anticipate continued growth in revenues from the B2B channel while implementing our strategic plan.”
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