DarioHealth reports Q4 revenue $6.8M, consensus $6.29M

Non-GAAP billings for the three months ended December 31, 2022, were $7.1M, a 19% increase. "During the fourth quarter, we continued to see substantial improvements in our financial results driven by our pivot to a Business-to-Business (B2B) business model, including robust revenue growth, an increase in gross margin, lower operating expenses and net loss, and reduced cash usage," stated Erez Raphael, Chief Executive Officer of Dario. "Notably, operating loss in the fourth quarter declined by 58% to $9 million compared to $21.7 million in the fourth quarter of 2021 and non-GAAP operating loss in the fourth quarter declined by 60% to $6 million compared to $15 million in the fourth quarter of 2021. These metrics demonstrate the significant revenue growth and operating expense efficiency that has resulted from the strategic transition to B2B integrated multi condition platform, which continues to gain traction in the market."