DarioHealth (DRIO) Misses Q1 EPS by 82c, Revenues Miss

DarioHealth (NASDAQ: DRIO) reported Q1 EPS of ($1.57), $0.82 worse than the analyst estimate of ($0.75). Revenue for the quarter came in at $1.67 million versus the consensus estimate of $1.75 million.

"In the first quarter of 2020, Dario executed in line with its multi-year strategic operating plan of creating a best in class digital health solution with a strong economic profile, including recurring revenues and high margins. With additional clinical data, an expansion of our platform and new interest from both clients and partners, we believe we have set the foundation for penetration into multiple Business-to-Business-to-Consumer (B2B2C) channels in the second half of this year. Irrespective of the global pandemic, we successfully expanded our remote care offering by partnering with MediOrbis to provide our 50,000 users additional ways to engage using a full-service telemedicine network of physicians," said Erez Raphael, DarioHealth's Chief Executive Officer. "To build on our success in the first quarter, I am thrilled that Dr. Manejwala has joined the team as Chief Medical Officer. He brings decades of experience working with patients to achieve behavioral changes that potentially result in health improvement. In addition, he has spent the last decade working with health plans and other payors to deliver value added clinical programs at the intersection of chronic conditions and behavioral health."

"In a world that is trying to avoid unnecessary physician office visits, urgent care visits, and inpatient treatments, Dario has empowered its members by bringing healthcare solutions to their mobile devices. More importantly, as a new normal emerges post COVID-19, we believe that Dario is well-positioned to thrive in this environment."

"We believe that we continue to be successful in expanding our B2B2C sales channels with new contracts beginning to show 'green shoots' and revenues continuing to grow from our membership services, with increasing margins," Zvi Ben-David, Dario's Chief Financial Officer, Secretary and Treasurer added.

For earnings history and earnings-related data on DarioHealth (DRIO) click here.

You May Also Be Interested In

• Tesla plans 'flying' Roadster stunt at SpaceX Texas site as early as August
• Algorhythm Holdings (RIME) Tops Q2 EPS by 54c
• Reading (RDI) Tops Q2 EPS by 4c