May 29, 2020

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Keep Your Eyes on NEWS: DarioHealth Corp. (NASDAQ: DRIO)

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DarioHealth Corp. (NASDAQ: DRIO) spotted trading -65.35% off 52-week high price. On the other end, the stock has been noted 28.45% away from the low price over the last 52-weeks. The stock changed -8.70% to recent value of $0.75. The stock transacted 475570 shares during most recent day however it has an average volume of 61.81K shares. The company has 20.71M of outstanding shares and 12.78M shares were floated in the market.

Global digital therapeutics innovator DarioHealth Corp. (Nasdaq: DRIO), announced record financial and operational results for the full-year ended on December 31, 2018.

Financial Highlights

Record annual revenues of $7.4 million, a 43% increase year-over-year (YOY)

In addition, DarioHealth recorded deferred revenue of $736,000 in 2018

Record billings (non-GAAP) of $8.13 million, a 57% increase YOY

Gross profit of $1.77 million, an increase of 35% YOY

37% increase in new subscribers YOY

Full Year 2018 Results Summary

For the twelve months ended December 31, 2018, revenues were $7.4 million, a 43% increase from revenues of $5.17 million for the twelve months ended December 31, 2017.

Revenues generated during the year ended December 31, 2018 were derived mainly from the sales of DarioHealth’s components and from the offering of our membership plans to our customers in the United States. We recorded an additional $736,000 as deferred revenues from revenues generated from our new membership offering to our customers in the U.S.

Gross profit increased by $454,000, a 35% increase, to a profit of $1.8 million in the twelve months ended December 31, 2018, compared to gross profit of $1.3 million in the twelve months ended December 31, 2017.

Operating loss for the twelve months ended December 31, 2018 increased by $3.3 million to $17.7 million, compared to a $14.4 million operating loss in the twelve months ended December 31, 2017.

The increase in operating loss was mainly due to the increase in operating expenses partially offset by the improvement in the gross profit compared to the twelve months ended December 31, 2017.

Net loss attributable to holders of common stock increased by $2.1 million, a 13% increase, to $17.8 million in the twelve months ended December 31, 2018, compared to $15.7 million in the twelve months ended December 31, 2017.

Non-GAAP billings for the twelve months ended December 31, 2018 were $8.13 million, a 57% increase from $5.17 million in the twelve months ended December 31, 2017. 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.”

Fourth Quarter 2018 Results Summary

Revenues for the fourth quarter ended December 31, 2018 were $1.7 million, a 7.7% increase from $1.6 million in the fourth quarter ended December 31, 2017, and a 9.5% decrease sequentially from the third quarter of 2017.

During the fourth quarter ended December 31, 2018, we recorded an additional $351,000 as deferred revenues from revenues generated from our new membership offering to our customers in the U.S.

Gross profit in the fourth quarter of 2018 decreased by $346,000, or 61%, to $223,000 compared to a gross profit of $569,000 in the fourth quarter of 2017.

 

Operating loss for the fourth quarter ended December 31, 2018 increased by $2.0 million to $5.1 million, compared to a $3.1 million operating loss in the fourth quarter ended December 31, 2017. This increase is mainly due to the increase in our operating expenses.

Net loss attributable to holders of common stock increased by $1.7 million to $5.0 million in the fourth quarter of 2018, compared to $3.3 million in the fourth quarter of 2017.

As of December 31, 2018, cash and cash equivalents totaled $11 million.

Its earnings per share (EPS) expected to touch remained 25.50% for this year. DRIO has a gross margin of 29.00%.

According to the most recent quarter its current ratio was 3.4 that represents company’s ability to meet its current financial obligations. The price moved ahead of 4.97% from the mean of 20 days, 1.52% from mean of 50 days SMA and performed -24.13% from mean of 200 days price. Company’s performance for the week was 10.16%, -0.67% for month and YTD performance remained -3.99%.

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