Dario Signs Four New Employer Contracts Across Full Product Suite

Rhea-AI Summary

DarioHealth (Nasdaq: DRIO) has secured four new self-insured employer contracts, expected to go live in Q1 2025. These contracts cover Dario's complete platform suite, with clients opting for multi-condition offerings rather than single-condition solutions. The company projects to achieve approximately 25 new client signings in 2024, representing a 35% growth in client base compared to 2023.

These new contracts will contribute to recurring revenue starting in Q1 2025, furthering Dario's momentum in the Business-to-Business-to-Consumer (B2B2C) channel. According to Chief Commercial Officer Steven Nelson, these employer contracts support near-term growth, enhance gross margin growth, and expand user population reach.

Company expects to reach an estimated total of 25 new client signings in 2024, representing an approximate 35% growth in client base compared to 2023

NEW YORK, Nov. 21, 2024 /PRNewswire/ -- DarioHealth Corp. (Nasdaq: DRIO) ("Dario" or the "Company"), a leader in the global digital health market, announced today the signing of four contracts with self-insured employers that are expected to go live in the first quarter of 2025.

 

Dario has added four new employer contracts to the 2025 book of business, continuing the business momentum in the Business-to-Business-to-Consumer (B2B2C) channel and securing recurring revenue from these accounts starting in the first quarter of 2025. The contracts span across the full suite of the Dario platform, with no one opting for a single condition, showing evidence of the value of a multi-condition offering.

"We believe that employer contracts are a solid contributor to near-term growth for Dario. Each one adds recurring revenue, aids gross margin growth, and spreads our reach across new populations of users, adding to our ever-growing data pool. Including these four new employers, we expect to reach an estimated total of 25 new client signings in 2024, which are expected to be implemented and secured for revenue growth in 2025. This represents an approximate 35% growth in our client base compared to 2023, a milestone that we believe serves as a core indicator of our profitability timeline," said Steven Nelson, Chief Commercial Officer at Dario.

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. Dario's 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. 

Dario's 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 DarioHealth Corp. 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. For example, the Company is using forward-looking statements in this press release when it discusses the expected timing of the launch of the four contracts, that the new contracts will continue business momentum in the B2B2C channel and secure recurring revenue from these accounts starting January 1st, 2025, that the employer contracts will contribute to the to near-term growth of the Company, aid gross margin growth, and spread its reach across new populations of users, adding to its data pool,  that the Company expects to reach an estimated total of 25 new client signings by the end of 2024 to be implemented and secured for revenue growth in 2025, and the belief that the increase in contracts serves as a core indicator of its profitability timeline . 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. 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.

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

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SOURCE DarioHealth Corp.

FAQ

How many new employer contracts did DarioHealth (DRIO) sign in their latest announcement?

DarioHealth signed four new employer contracts with self-insured employers, all expected to go live in the first quarter of 2025.

What is the projected client growth for DarioHealth (DRIO) in 2024?

DarioHealth expects to reach approximately 25 new client signings in 2024, representing a 35% growth in their client base compared to 2023.

When will the new DarioHealth (DRIO) employer contracts become revenue-generating?

The new employer contracts are expected to begin generating recurring revenue starting in the first quarter of 2025.

What type of solutions did the new clients choose from DarioHealth's (DRIO) platform?

All new clients opted for multi-condition offerings across Dario's full platform suite, with none choosing single-condition solutions.