DarioHealth, a tech-driven diabetes management platform, reported its fourth-quarter earnings on March 17, highlighting significant gains in revenues due to its new and expanded partnerships with major retailers.
The company reported revenues of $1.8 million for the quarter ended Dec. 31, representing a 5.8 percent increase from the same time period of 2018. DarioHealth also saw a 277 percent year-over-year increase in gross profits during the fourth quarter of 2019 — from $223,000 to $840,000 — due primarily to increases in revenues from its membership plans.
During that time period, DarioHealth made memberships to its digital diabetes management platform, previously only available for purchase online, available in brick-and-mortar Best Buy stores, with plans to expand to other physical retail locations. Shortly after, DarioHealth began offering its digital tool through the Walmart website.
More recently, the MyDario system — comprising a handheld blood glucose measurement device and an FDA-cleared tracking app — went live on supermarket chain Albertsons' online marketplace in late February.