DarioHealth Reports Third Quarter 2024 Financial and Operating Results

Press Releases

Nov 07, 2024

  • Demonstrated strong improvements in financial performance and business momentum.
  • Q3 revenue of $7.42 million increased 18.7% over Q2 2024 and 111% compared to Q3 2023, driven by expansion of B2B2C revenues.
  • Q3 operating loss decreased sequentially by 25.7% to $12 million on a GAAP basis and by 33.3% to $7.1 million on a non-GAAP basis over Q2 2024.
  • Executed synergies from the Dario-Twill merger, expected to reduce operating expenses by approximately 38% by Q1 2025 (compared to Q1 2024) and contributing to an expected 49% reduction in operating losses by Q1 2025 and 59% in non-GAAP operating losses.
  • Significant wins include: 10 B2B2C clients, including a national Medicare advantage health plan, a regional Medicaid health plan, and a global leading pharma company.
  • Made significant progress in transforming the pharma/medical device channel into a platform-based recurring revenue model by securing two new deals, including one with one of the top six global pharma companies.
  • Dario remains on track to achieve operational cash flow breakeven run rate by the end of 2025.
  • Dario will host an investor conference call and webcast at 8:30 a.m. ET today.

Q3 2024 and Recent Highlights

NEW YORK, Nov. 7, 2024 /PRNewswire/ — DarioHealth Corp. (Nasdaq: DRIO) (“Dario” or the “Company”), a leader in the global digital health market, today announced its financial results for the third quarter of 2024, highlighting substantial improvements in financial performance and business momentum.

DarioHealth Logo

The Company delivered revenue growth and multiple key client wins, laying a solid foundation for 2025. These achievements not only demonstrate continued progress in financial metrics, but also reflect the successful execution of long-term strategic initiatives aimed at driving sustainable growth.

“Our third quarter included strong execution of our multi-year strategic plan of being a profitable provider of comprehensive chronic care management solutions which engage members and improve outcomes at a reduced cost of care,” said Erez Raphael, CEO of Dario. “Our efforts to streamline costs following the Twill merger, combined with revenue growth across multiple channels, have positioned us for ongoing success. We’re seeing clear progress in our transformation, and we remain focused on achieving profitability run rate by the end of 2025.”

The Company reported improvement across all key financial metrics, both sequentially and year-over-year. Q3 revenue reached $7.42 million, an increase of 18.7% from Q2 2024 and a 111% increase compared to Q3 2023, driven primarily by growth in the Company’s core Business-to-Business-to-Consumer (B2B2C) business.

Through continued optimization of revenue channels and a transition to recurring revenue models, gross margins for the B2B2C business rose to 83%, with full business gross margins reaching 52% and pro-forma gross margins reaching 70.3% (on a non-Generally Accepted Accounting Principles (GAAP) basis).

Following the recent acquisition of Twill, Dario implemented focused cost-management strategies, reducing GAAP operating expenses to $15.9 million, a 16% sequential reduction from Q2 2024 and non-GAAP operating expenses to $12.3 million, a 15.9% reduction from Q2 2024.

“We are not just growing; we believe that we are improving the quality and predictability of our revenues,” said Steven Nelson, Chief Commercial Officer at Dario. “Securing 10 new clients this quarter, combined with diversifying our revenue streams, ensures that we are on a path for sustained success in 2025 and beyond.”

The Company reported a 25.7% reduction in GAAP operating losses sequentially, lowering such losses to $12 million, and 33.3% reduction in non-GAAP operating losses, lowering such losses to $7.1 million.

Looking ahead, Dario expects this positive trend in financial performance to continue, driven by ongoing revenue growth, increasing gross margins due to positive mix shift and operating leverage related to our reduced fixed expenses. The Company anticipates a 38% reduction in total operating expenses between Q1 2024 and Q1 2025, alongside a 49% reduction in operating losses and a 59% reduction in non-GAAP operating losses respectively, paving the way to achieve cash flow breakeven run rate by the end of 2025.

Business Highlights

In Q3, the Company enhanced its commercial momentum by securing 10 new clients, positioning itself for strong growth in 2025. Dario focused on not only increasing revenues but also making them more sustainable by diversifying across channels and clients. This effort included transforming the pharma channel—previously the Company’s only non-recurring revenue stream—into a recurring revenue model.

  • Health Plans: The Company partnered with National Medicare Health Plan Partners and Twill by Dario to promote healthy aging and launched large-scale cardiometabolic programs in the Medicaid space.
  • Employers: Dario signed contracts with seven new employers, primarily for cardiometabolic solutions, and secured its first health system as an employer contract. Additionally, the Company announced a new AARP benefit granting access to millions of AARP members for health and well-being programs starting in January 2025.
  • Pharma and Medical Device: Dario closed two new deals, including a major contract with one of the top six global pharmaceutical companies and an agreement with a medical device company. The Company expects these contracts will contribute to revenue in the near term and are structured under the Company’s new “platform services subscription fee” model, offering an annual recurring revenue stream.

Additionally, this quarter marked the completion of the integration of Twill’s capabilities into Dario’s full multi-condition platform. The combined behavioral health, well-being, navigation, and engagement technologies now create the most comprehensive solution in the digital health market under the Dario brand.

“We are excited about the growing opportunities for our artificial intelligence (AI) capabilities, especially as data becomes an increasingly vital asset in our business model,” Erez Raphael added. “By integrating generative AI and microservices, we believe we are poised to revolutionize areas like drug discovery, consumer engagement, and personalization, with our proprietary data setting us up for both internal and external monetization.”

With its market-leading expertise, Dario is well-positioned to capitalize on these emerging trends and continue delivering value to its stakeholders.

Third Quarter 2024 Results Summary

Revenues for the third quarter ended September 30, 2024, were $7.42 million, an 111% increase from $3.52 million for the third quarter ended September 30, 2023, and an increase of 18.7% from $6.26 million for the second quarter of 2024. The increase compared to the quarter ended September 30, 2023, resulted from an increase in revenues from the B2B2C channel and the consolidation of Twill revenues.

B2B2C, employers and health plans recurring revenues for the third quarter ended September 30, 2024, were $5.44 million compared to $1.29 million in the quarter ended September 30, 2023, representing an increase of 320%, and compared to $5.54 million in the second quarter of 2024, representing a decrease of 1.9% sequentially.

Gross profit for the third quarter ended September 30, 2024, was $3.9 million, an increase of $3.3 million or 534%, compared to gross profit of $610,000 for the third quarter of 2023, and an increase of 41% from $2.76 million for the second quarter of 2024. The reason for this increase is the increase in our B2B2C revenues. Gross profit as a percentage of revenues increased to 52.2% in the third quarter of 2024, from 17.3% in the third quarter of 2023, and 44.1% in the second quarter of 2024.

Pro-forma gross profit, excluding $1.34 million of amortization expenses related to the acquisition of technology, was $5.2 million, or 70.3% of revenues, for the three months ended September 30, 2024, compared to pro-forma gross profit of $1.7 million, or 48.8% of revenues, for the three months ended September 30, 2023, and a pro-forma gross profit of $4.0 million, or 63.8% of revenues, for the three months ended June 30, 2024. A reconciliation of GAAP to non-GAAP measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

Total operating expenses for the third quarter ended September 30, 2024, were $15.9 million compared to $16.2 million for the third quarter ended September 30, 2023, and $18.9 million for the second quarter of 2024, a decrease of $0.25 million, or 1.5%, compared to the third quarter of 2023, and a decrease of $3 million, or 16%, compared to the second quarter of 2024. The decrease compared to the third quarter ended September 30, 2023, resulted mainly from reduction in operating expenses. The decrease compared to the second quarter of 2024 resulted mainly from a decrease in operating expenses and stock-based compensation expenses.

Total operating expenses excluding stock-based compensation, acquisition related expenses and depreciation for the third quarter of 2024 were $12.3 million compared to $10.9 million for the third quarter of 2023, and $14.7 million for the second quarter of 2024.

Operating loss for the third quarter of 2024 was $12 million, a decrease of $3.5 million, or 23%, compared to $15.5 million for the third quarter of 2023, and a decrease of $4.2 million, or 25.7%, compared to $16.2 million for the second quarter of 2024. The decrease compared to the third quarter of 2023 was due to the increase in the gross profit. The decrease compared to the second quarter of 2024 was mainly due to the decrease in operating expenses.

Financing expenses were $0.3 million for the third quarter of 2024, compared to financing expenses of $0.2 million for the third quarter of 2023. The reason for this increase was due to changes in variable items included in the financing expenses.

Net loss was $12.3 million in the third quarter of 2024, a decrease of $3.4 million, or 21.6%, compared to a net loss of $15.7 million in the third quarter of 2023, and a decrease of $1.3 million, or 9.4%, compared to $13.6 million in the second quarter of 2024.

Net loss excluding stock-based compensation, acquisition related expenses and depreciation for the third quarter of 2024 was $7.4 million compared to a loss of $9.3 million for the third quarter of 2023, and a net loss of $8.1 million in the second quarter of 2024.

A reconciliation of GAAP to non-GAAP measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

Financial Results for the Nine Months Ended September 30, 2024:

Revenues for the nine months ended September 30, 2024, were $19.4 million, a 16.1% increase from $16.7 million for the nine months ended September 30, 2023.

Gross profit for the nine months ended September 30, 2024, was $9.1 million, an increase of 55%, or $3.2 million, compared to gross profit of $5.9 million for the nine months ended September 30, 2023.

Pro-forma gross profit, excluding $3.7 million of amortization of expenses related to acquisitions, was $12.8 million for the nine months ended September 30, 2024, compared to a pro-forma gross profit of $9.1 million for the nine months ended September 30, 2023. Pro-forma gross profit margin, excluding amortization of acquisition related expenses, was 65.9% for the nine months ended September 30, 2024, compared to 54.6% for the nine months ended September 30, 2023. A reconciliation of GAAP to non-GAAP measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

Total operating expenses for the nine months ended September 30, 2024, were $55.1 million, an increase of $7.3 million, or 15.3%, compared with $47.8 million for the nine months ended September 30, 2023. The increase resulted from the acquisition of Twill. Total operating expenses excluding stock-based compensation, amortization of acquisition related expenses and depreciation for the nine months ended September 30, 2024, were $39.7 million compared to $32.3 million for the nine months ended September 30, 2023.

Operating loss for the nine months ended September 30, 2024, increased by $4.1 million to $46.1 million, compared to a $42 million operating loss for the nine months ended September 30, 2023. This increase is mainly due to the increase in operating expenses.

Financing income was $11 million for the nine months ended September 30, 2024, compared to financing expense of $3.2 million for the nine months ended September 30, 2023. The reason for this increase was the revaluation of the pre-funded warrants issued as part of the consideration for the acquisition of Twill, due to its classification as a liability according to GAAP rules.

Net loss was $33.1 million for the nine months ended September 30, 2024, compared to a net loss of $45.1 million for the nine months ended September 30, 2023. The decrease was driven by the increase in financing income.

Net loss excluding stock-based compensation, acquisition related expenses and depreciation for the nine months ended September 30, 2024, was $13.9 million compared to a loss of $26.2 million for the nine months ended September 30, 2023.

A reconciliation of GAAP to non-GAAP measures has been provided in the financial statement tables included in this press release. An explanation of these measures is also included below under the heading “Non-GAAP Financial Measures.”

Conference Call Details: Thursday, November 7, 8:30am ET 

Dial-in Number: 1-800-717-1738 (domestic) or 1-646-307-1865 (international)
Call me™:  https://emportal.ink/3SOTLAn

Participants can use the dial-in numbers above and be answered by an operator OR click the Call me™ link for instant telephone access to the event. This link will be made active 15 minutes prior to scheduled start time.

Webcast link: https://viavid.webcasts.com/starthere.jsp?ei=1685062&tp_key=51068b0c30

Participants are asked to dial in approximately 10 minutes prior to the start of the event. A replay of the call will be available approximately two hours after completion through Thursday, November 21st, 2024. To listen to the replay, dial 1-844-512-2921 (domestic) or 1-412-317-6671 (international) and use replay passcode 1131131.

About DarioHealth Corp.

DarioHealth Corp. (Nasdaq: DRIO) is a leading digital health company revolutionizing how people with chronic conditions manage their health through a user-centric, multi-chronic condition digital therapeutics platform. Our platform and suite of solutions deliver personalized and dynamic interventions driven by data analytics and one-on-one coaching for diabetes, hypertension, weight management, musculoskeletal pain and behavioral health.

Our user-centric platform offers people continuous and customized care for their health, disrupting the traditional episodic approach to healthcare. This approach empowers people to holistically adapt their lifestyles for sustainable behavior change, driving exceptional user satisfaction, retention and results and making the right thing to do the easy thing to do.

Dario provides its highly user-rated solutions globally to health plans and other payers, self-insured employers, providers of care and consumers. To learn more about Dario and its digital health solutions, or for more information, visit http://dariohealth.com.

Cautionary Note Regarding Forward-Looking Statements

This news release and the statements of representatives and partners of the Company related thereto contain or may contain forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Statements that are not statements of historical fact may be deemed to be forward-looking statements. Without limiting the generality of the foregoing, words such as “plan,” “project,” “potential,” “seek,” “may,” “will,” “expect,” “believe,” “anticipate,” “intend,” “could,” “estimate” or “continue” are intended to identify forward-looking statements. For example, when the Company discusses its expected reduced operating expenses expected by Q1 2025 and the resulting operating losses by such time period, that it expects to reach breakeven by the end of 2025, its expected breakeven timeline is supported by its progress in its high margin B2B2C channel, that its reduction of costs following the acquisition of Twill, combined with revenue growth across multiple channels, positions the Company for ongoing success, that it believes it sees clear progress in its transformation and remains focused on achieving a profitably run rate by the end of 2025, that it expects the positive trends in financial performance to continue, driven by ongoing revenue growth, increasing gross margins due to positive mix shift and operating leverage related to its reduced fixed expenses, its expected reduction in total operating expenses between Q1 2024 and Q1 2025, its expected reduction in operating losses and  in non-GAAP operating losses respectively, paving the way to achieve cash flow breakeven run rate by the end of 2025, that it is positioned for strong growth in 2025, its plan to transform its pharmaceutical channel into a recurring revenue model, that its belief that two new contracts with a pharmaceutical company and a medical device company will contribute to the Company’s revenue in the near term, its belief that the combined behavioral health, well-being, navigation, and engagement technologies now create the most comprehensive solution in the digital health market under the Dario brand, its belief that, by integrating generative AI and microservices, the Company is poised to revolutionize areas like drug discovery, consumer engagement, and personalization, with our proprietary data setting us up for both internal and external monetization and its belief that with its market-leading expertise, Dario is well-positioned to capitalize on these emerging trends and continue delivering value to its stakeholders. Readers are cautioned that certain important factors may affect the Company’s actual results and could cause such results to differ materially from any forward-looking statements that may be made in this news release. Factors that may affect the Company’s results include, but are not limited to, regulatory approvals, product demand, market acceptance, impact of competitive products and prices, product development, commercialization or technological difficulties, the success or failure of negotiations and trade, legal, social and economic risks, and the risks associated with the adequacy of existing cash resources. Additional factors that could cause or contribute to differences between the Company’s actual results and forward-looking statements include, but are not limited to, those risks discussed in the Company’s filings with the U.S. Securities and Exchange Commission. Readers are cautioned that actual results (including, without limitation, the timing for and results of the Company’s commercial and regulatory plans for Dario™ as described herein) may differ significantly from those set forth in the forward-looking statements. The Company undertakes no obligation to publicly update any forward-looking statements, whether as a result of new information, future events or otherwise, except as required by applicable law.

Non-GAAP Financial Measures

We have provided in this release financial information that has not been prepared in accordance with Generally Accepted Accounting Principles (GAAP). These non-GAAP financial measures are not based on any standardized methodology prescribed by GAAP and are not necessarily comparable to similar measures presented by other companies. We use these non-GAAP financial measures internally in analyzing our financial results and believe they are useful to investors, as a supplement to GAAP measures, in evaluating our ongoing operational performance. We believe that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing our financial results with peer companies, many of which present similar non-GAAP financial measures to investors.

Non-GAAP financial measures should not be considered in isolation from, or as a substitute for, financial information prepared in accordance with GAAP. Investors are encouraged to review the reconciliation of these non-GAAP financial measures to their most directly comparable GAAP financial measures provided in the financial statement tables below.

Operating expenses (non-GAAP). Our presentation of non-GAAP operating expenses excludes stock-based compensation expenses, amortization of acquisition related expenses and depreciation of fixed assets. Due to varying available valuation methodologies, subjective assumptions, and the variety of equity instruments that can impact a company’s non-cash operating expenses, we believe that providing non-GAAP financial measures that exclude non-cash expenses provides us with an important tool for financial and operational decision making and for evaluating our own core business operating results over different periods of time.

Net loss (non-GAAP). Our presentation of adjusted net loss excludes the effect of certain items that are non-GAAP financial measures. Adjusted net loss represents net loss determined under GAAP without regard to stock-based compensation expenses, deferred inventory, depreciation of fixed assets, earn-out remeasurement and acquisition related expenses and amortization. We believe these measures provide useful information to management and investors for analysis of our operating results.

 

DARIOHEALTH CORP. AND ITS SUBSIDIARIES

INTERIM CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands

September 30, 

December 31, 

2024

2023

Unaudited

ASSETS

CURRENT ASSETS:

Cash and cash equivalents

$

15,547

$

36,797

Short-term restricted bank deposits

863

292

Trade receivables, net

4,948

3,155

Inventories

4,742

5,062

Other accounts receivable and prepaid expenses

3,428

2,024

Total current assets

29,528

47,330

NON-CURRENT ASSETS:

Deposits

6

6

Operating lease right of use assets

1,306

967

Long-term assets

108

143

Property and equipment, net

1,235

899

Intangible assets, net

20,343

5,404

Goodwill

57,427

41,640

Total non-current assets

80,425

49,059

Total assets

$

109,953

$

96,389

 

 

DARIOHEALTH CORP. AND ITS SUBSIDIARIES

INTERIM CONSOLIDATED BALANCE SHEETS

U.S. dollars in thousands (except stock and stock data)

September 30, 

December 31, 

2024

2023

Unaudited

LIABILITIES AND STOCKHOLDERS’ EQUITY

CURRENT LIABILITIES:

Trade payables

$

2,655

$

1,131

Deferred revenues

1,118

997

Operating lease liabilities

596

111

Other accounts payable and accrued expenses

5,807

6,300

Current maturity of long-term loan

8,670

3,954

Total current liabilities

18,846

12,493

NON-CURRENT LIABILITIES

Operating lease liabilities

1,033

885

Long-term loan

20,187

24,591

Warrant liability

11,327

240

Other long-term liabilities

49

36

Total non-current liabilities

32,596

25,752

STOCKHOLDERS’ EQUITY

Common stock of $0.0001 par value – authorized: 160,000,000 shares; issued and
outstanding: 31,323,906 and 27,191,849 shares on September 30, 2024 and
December 31, 2023, respectively

3

3

Preferred stock of $0.0001 par value – authorized: 5,000,000 shares; issued and
outstanding: 40,156 and 18,959 shares on September 30, 2024 and December 31, 2023,
respectively

*) –

*) –

Additional paid-in capital

436,590

407,502

Accumulated deficit

(378,082)

(349,361)

Total stockholders’ equity

58,511

58,144

Total liabilities and stockholders’ equity

$

109,953

$

96,389

 

 

DARIOHEALTH CORP. AND ITS SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF COMPREHENSIVE LOSS

U.S. dollars in thousands (except stock and stock data)

Three months ended

Nine months ended

September 30, 

September 30, 

2024

2023

2024

2023

Unaudited

Unaudited

Revenues:

Services

$

5,604

$

1,765

$

14,424

$

11,171

Consumer hardware

1,819

1,753

5,012

5,565

Total revenues

7,423

3,518

19,436

16,736

Cost of revenues:

Services

920

599

2,845

3,701

Consumer hardware

1,282

1,203

3,786

3,902

Amortization of acquired intangible assets

1,344

1,106

3,740

3,281

Total cost of revenues

3,546

2,908

10,371

10,884

Gross profit

3,877

610

9,065

5,852

Operating expenses:

Research and development

$

5,446

$

5,665

$

18,898

$

16,052

Sales and marketing

6,733

6,363

20,775

19,163

General and administrative

3,728

4,128

15,468

12,611

Total operating expenses

15,907

16,156

55,141

47,826

Operating loss

12,030

15,546

46,076

41,974

Total financial expenses (income), net

313

186

(10,954)

3,168

Loss before taxes

12,343

15,732

35,122

45,142

Income Tax

13

2,007

Net loss

$

12,330

$

15,732

$

33,115

$

45,142

Other comprehensive loss:

Deemed dividend (contribution)

$

2,278

$

1,172

$

(4,394)

$

2,863

Net loss attributable to common shareholders

$

14,608

$

16,904

$

28,721

$

48,005

Net loss per share:

Basic and diluted loss per share of common stock

$

0.25

$

0.49

$

0.52

$

1.52

Weighted average number of common stock used in
computing basic and diluted net loss per share

40,417,421

28,815,604

39,093,575

28,195,216

 

 

DARIOHEALTH CORP. AND ITS SUBSIDIARIES

INTERIM CONSOLIDATED STATEMENTS OF CASH FLOWS

U.S. dollars in thousands

Nine months ended

September 30, 

2024

2023

Unaudited

Cash flows from operating activities:

Net loss

$

(33,115)

$

(45,142)

Adjustments required to reconcile net loss to net cash used in operating activities:

Stock-based compensation

13,206

15,307

Depreciation and impairment

773

290

Disposal of property and equipment

7

Change in operating lease right of use assets

666

228

Amortization of acquired intangible assets

4,519

3,375

Decrease in trade receivables, net

1,536

1,883

Increase in other accounts receivable, prepaid expense and long-term assets 

(894)

(324)

Decrease in inventories

320

2,485

Decrease in trade payables

(886)

(393)

Decrease in other accounts payable and accrued expenses

(3,704)

(1,182)

Decrease in deferred revenues

(621)

(636)

Change in operating lease liabilities

(791)

(196)

Change in fair value of warrant liability

(13,370)

Non-Cash financial expenses

432

1,267

Other

92

Net cash used in operating activities

(31,830)

(23,038)

Cash flows from investing activities:

Purchase of property and equipment

(117)

(501)

Purchase of short-term investments

(4,996)

Proceeds from redemption of short-term investments

5,033

Payments for business acquisitions, net of cash acquired

(8,796)

Net cash used in investing activities

(8,913)

(464)

Cash flows from financing activities:

Proceeds from issuance of common stock, net of issuance costs

1,614

Proceeds from issuance of preferred stock, net of issuance costs

20,206

14,868

Proceeds from borrowings on credit agreement

29,604

Repayment of long-term loan

(27,833)

Net cash provided by financing activities

20,206

18,253

Decrease in cash, cash equivalents and restricted cash and cash equivalents

(20,537)

(5,249)

Effect of exchange rate differences on cash, cash equivalents and restricted cash and cash
equivalents

(50)

Cash, cash equivalents and restricted cash and cash equivalents at beginning of period

36,797

49,470

Cash, cash equivalents and restricted cash and cash equivalents at end of period

$

16,210

$

44,221

Supplemental disclosure of cash flow information:

Cash paid during the period for interest on long-term loan

$

2,968

$

3,035

Non-cash activities:

Right-of-use assets obtained in exchange for lease liabilities

$

428

$

14

 

 

Reconciliation of Operating Loss, Net Loss and Operating Expenses to Adjusted

Operating Loss, Net Loss and Operating Expenses (Non-GAAP)

U.S. dollars in thousands

Three months ended September 30, 2024

GAAP

Stock-Based
Compensation
Expenses

Amortization of
acquisition
related expenses
and depreciation
of fixed assets

Non-GAAP

Cost of Revenues

$

3,546

7

(1,359)

2,194

Gross Profit

3,877

(7)

1,359

5,229

Research and development

5,446

(748)

(63)

4,635

Sales and Marketing

6,733

(948)

(689)

5,096

General and Administrative

3,728

(1,097)

(17)

2,614

Total Operating Expenses

15,907

(2,793)

(769)

12,345

Operating Loss

$

(12,030)

2,786

2,128

(7,116)

Financing expenses

313

313

Income Tax

(13)

(13)

Net Loss

$

(12,330)

2,786

2,128

(7,416)

 

 

Reconciliation of Operating Loss, Net Loss and Operating Expenses to Adjusted

Operating Loss, Net Loss and Operating Expenses (Non-GAAP)

U.S. dollars in thousands

Three months ended September 30, 2023

GAAP

Stock-Based
Compensation
Expenses

Amortization of
acquisition
related expenses
and depreciation
of fixed assets

Non-GAAP

Cost of Revenues

$

2,908

(17)

(1,137)

1,754

Gross Profit

610

17

1,137

1,764

Research and development

5,665

(1,226)

(22)

4,417

Sales and Marketing

6,363

(1,879)

(39)

4,445

General and Administrative

4,128

(2,037)

(38)

2,053

Total Operating Expenses

16,156

(5,142)

(99)

10,915

Operating Loss

$

(15,546)

5,159

1,236

(9,151)

Financing expenses

186

186

Income Tax

Net Loss

$

(15,732)

5,159

1,236

(9,337)

 

 

Reconciliation of Operating Loss, Net Loss and Operating Expenses to Adjusted

Operating Loss, Net Loss and Operating Expenses (Non-GAAP)

U.S. dollars in thousands

Nine months ended September 30, 2024

GAAP

Stock-Based
Compensation
Expenses

Amortization of
acquisition
related expenses
and depreciation
of fixed assets

Non-GAAP

Cost of Revenues

$

10,371

(5)

(3,784)

6,582

Gross Profit

9,065

5

3,784

12,854

Research and development

18,898

(2,311)

(187)

16,400

Sales and Marketing

20,775

(4,354)

(859)

15,562

General and Administrative

15,468

(6,536)

(1,175)

7,757

Total Operating Expenses

55,141

(13,201)

(2,221)

39,719

Operating Loss

$

(46,076)

13,206

6,005

(26,865)

Financing expenses

(10,954)

(10,954)

Income Tax

(2,007)

(2,007)

Net Loss

$

(33,115)

13,206

6,005

(13,904)

 

 

Reconciliation of Operating Loss, Net Loss and Operating Expenses to Adjusted

Operating Loss, Net Loss and Operating Expenses (Non-GAAP)

U.S. dollars in thousands

Nine months ended September 30, 2023

GAAP

Stock-Based
Compensation
Expenses

Amortization
of acquisition
related expenses
and depreciation
of fixed assets

Non-GAAP

Cost of Revenues

$

10,884

(61)

(3,372)

7,451

Gross Profit

5,852

61

3,372

9,285

Research and development

16,052

(3,713)

(57)

12,282

Sales and Marketing

19,163

(5,550)

(129)

13,484

General and Administrative

12,611

(5,983)

(107)

6,521

Total Operating Expenses

47,826

(15,246)

(293)

32,287

Operating Loss

$

(41,974)

15,307

3,665

(23,002)

Financing expenses

3,168

3,168

Income Tax

Net Loss

$

(45,142)

15,307

3,665

(26,170)

 

DarioHealth Corporate Contact
Mary Mooney
VP Marketing
Mary@dariohealth.com
+1-312-593-4280

DarioHealth Investor Relations Contact 
Kat Parrella
Investor Relations Manager
kat@dariohealth.com
+315-378-6922

Media Contact:
Scott Stachowiak
Scott.Stachowiak@russopartnersllc.com
+1-646-942-5630

Logo: https://mma.prnewswire.com/media/1920436/DarioHealth_Logo.jpg

Cision View original content:https://www.prnewswire.com/news-releases/dariohealth-reports-third-quarter-2024-financial-and-operating-results-302298557.html

SOURCE DarioHealth Corp.

YOU MAY ALSO LIKE

Fangzhou Inc. Honored as an "Outstanding Innovation…

Demonstrated strong improvements in financial performance and business momentum.Q3 revenue of $7.42 million increased 18.7% over Q2 2024 and 111% compared to Q3 2023, driven…

read more

CSharpCorner Announces 2025 Industry-Leading Conference Lineup to…

Demonstrated strong improvements in financial performance and business momentum.Q3 revenue of $7.42 million increased 18.7% over Q2 2024 and 111% compared to Q3 2023, driven…

read more

Pixelworks Empowers iQOO Z9 Turbo L Smartphone…

Demonstrated strong improvements in financial performance and business momentum.Q3 revenue of $7.42 million increased 18.7% over Q2 2024 and 111% compared to Q3 2023, driven…

read more