DarioHealth Accelerates U.S. Device Sales and Consumable Strips Growth in Fourth Quarter
Jan 23, 2017
BOSTON, Jan. 23, 2017 /PRNewswire/ --
Direct-to-consumer digital marketing strategy drives 85% sequential increase in U.S. devices sold and 65% increase in consumable sales, quarter-over-quarter
DarioHealth Corp. (NASDAQ: DRIO), a leader in digital health and mobile health solutions and the developer of the Dario™ Blood Glucose Monitoring System, an all-in-one diabetes meter, today announced continued adoption of its disruptive mobile app-based and minimally invasive smart diabetes management solution.
In just nine months since its U.S. launch, DarioHealth has experienced growth of the key performance indicators including: device sales, registered users and consumable sales.
- More than 18,500 Dario All-in-One Smart Glucose Meter devices were purchased in the U.S. in 2016.
- In the fourth quarter alone, more than 8,500 were sold, increasing its market presence by 85% compared to the end of the third quarter.
- Nearly 95% of U.S. users have ordered test strips, driving fourth quarter consumable sales up by more than 65% quarter-over-quarter.
Erez Raphael, DarioHealth's Chairman and Chief Executive Officer, said, "We continue to be encouraged by the traction we are gaining in the U.S. following the launch of Dario in March 2016.
"Device sales continue to increase as a result of our direct to consumer digital marketing strategy and we are acquiring new customers on an ROI positive basis. Our active community of users is growing every day which is bringing positive change to people with diabetes, and the conversion rate of users who are trying our product and then subscribing for our test strips gives us confidence and visibility into our future growth."
About DarioHealth Corp.
DarioHealth is a leader in digital health self-management solutions. DarioHealth delivers the ability to combine and analyze consumer health data to personalize treatment and advance medical knowledge. Dario's™ smart diabetes management solution is a platform for diabetes management that combines the Dario™ Blood Glucose Monitoring System all-in-one blood glucose meter, native smart phone app, website portal and a wide variety of treatment tools to support more proactive and better informed decisions by users living with diabetes, their doctors and healthcare systems. Having recently launched in the largest market in the world for glucose monitoring, U.S. sales are expected to have a significant impact on revenues and gross margins. With marketing clearance in Europe and the U.S., the Dario iOS mobile app recently launched with reimbursement in the United Kingdom, Australia, Israel, Italy, and Canada, and has also launched in New Zealand, Netherlands, Italy, and Belgium. For more information, visit http://mydario.investorroom.com/
Cautionary Note Regarding Forward-Looking Statements
This news release and the statements of representatives and partners of DarioHealth Corp. (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 describes its growth potential, and says that U.S. sales are expected to have a significant impact on the Company's revenues and gross margins, it is using 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™) 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 and Media Contact
DarioHealth Investor Relations Contact
Rob Fink / Brett Maas
+1-646-415-8972 / +1-646-536-7331
SOURCE DarioHealth Corp.