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DarioHealth (DRIO) Reports Q4 Revenues of $2.08M

March 9, 2021 6:48 AM EST

DarioHealth (NASDAQ: DRIO) reported Q4 revenue for the quarter came in at $2.08 million versus the consensus estimate of $2.08 million.

  • Revenues for the fourth quarter ended December 31, 2020 were $2.08 million, a 1.9% sequential increase from third quarter ended September 30, 2020, and a 15.7% increase from the $1.8 million in the fourth quarter ended December 31, 2019.
  • Revenues generated during the fourth quarter and year ended December 31, 2020 were derived mainly from the sales of DarioHealth's medical devices and consumables and from the offering of our membership plans to our customers in the U.S.
  • Gross profit in the fourth quarter of 2020 was $549,000, a decrease of $291,000, or 34.6%, compared to gross profit of $840,000 in the fourth quarter of 2019. Gross profit as a percentage of revenues decreased from 46.7% in the fourth quarter of 2019 to 26.4% in the fourth quarter of 2020. The decrease resulted from a price reduction of medical devices sold as part of the direct-to-consumer promotion campaigns.
  • Total operating expenses for the fourth quarter of 2020 were $9.6 million compared with $5.0 million for the fourth quarter of 2019, an increase of $4.6, or 91.5%. The increase resulted from an increase in our activities in research and development, sales and marketing, administrative expenses and stock-based compensation. Total operating expenses excluding stock-based compensation for the fourth quarter of 2020 were $7.5 million compared to $4.6 million for the fourth quarter of 2019.
  • Operating loss for the fourth quarter of 2020 was $9.1 million, an increase of $4.9 million, or 117%, compared to the $4.2 million operating loss in the fourth quarter of 2019. This increase was mainly due to the increase in our operating expenses.
  • Net loss was $9.0 million in the fourth quarter of 2020, an increase of $4.83 million, or 116%, compared to the $4.17 million net loss in the fourth quarter of 2019.
  • Cash and cash equivalents totaled $28.6 million at December 31, 2020.
  • Non-GAAP billings for the three months ended December 31, 2020 were $2.02 million, an 18.1% increase from $1.71 million reported in the three months ended December 31, 2019. The increase is a result of higher sales generated in the three months ended December 31, 2020 compared to the three months ended December 31, 2019.

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



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