DarioHealth reports Q3 EPS (49c), consensus (46c)

Reports Q3 revenue $3.52M, consensus $5.34M. Reports Q3 billings $3.41M. “As we discussed during our recent investor day, our revenue generally comes from three sources, our historical direct to consumer (B2C) business, recurring revenue from health plans and employers (B2B2C), and strategic revenue from partners like Sanofi U.S., which is milestone driven. During the third quarter of 2023, our total revenues amounted to $3.52 million. Our B2C business generated $2 million in the third quarter consistent our the expected $8 million to $9 million a year in revenue. Our core B2B2C business continued to grow over the prior year with revenue growth of 57% year-to-date compared to the same period in 2022, with $3.9 million in 2023 compared to $2.5 million in 2022. While our strategic revenue is at a run rate of approximately $6.3 million a year, third quarter revenues were only $209,000 which negatively impacted our revenue versus the prior quarter and the third quarter of 2022. Our relationship with Sanofi is unchanged and we anticipate that this annual revenue will continue into 2024, as part of the $30 million agreement signed in 2022, with the possibility for expansion,” stated Erez Raphael, Chief Executive Officer of Dario.