Wed, May 15, 10:41 AM (72 days ago)
DarioHealth Corp.'s Q1 2024 report highlights a decrease in revenues to $5,758,000 from $7,066,000 in Q1 2023, primarily due to reduced partnership channel revenues. Cost of revenues also declined to $3,326,000 from $3,898,000. Gross profit decreased to $2,432,000, representing 42.2% of revenues. Operating expenses increased significantly, with research and development costs rising by 28.6% to $6,642,000, and general and administrative expenses up by 65.4% to $6,735,000, mainly due to the consolidation of Twill Inc. Financial income surged to $8,686,000, driven by the revaluation of pre-funded warrants from the Twill acquisition. Net loss decreased to $7,175,000 from $12,825,000, attributed to the financial income boost. Cash and equivalents stood at $34,367,000, with net cash used in operations rising to $13,110,000. The Twill acquisition is expected to enhance DarioHealth's multi-condition digital health platform.