DarioHealth Corp. DRIO
We are a vertically integrated health intelligence platform with a mission to power the behavior changes that drive better health. Unlike software-only digital health platforms, Dario owns the complete chain of value in chronic care management - connected FDA-cleared hardware devices that generate continuous physiological data, AI built on that proprietary data, and a behavior change and coaching layer validated through over 100 peer-reviewed clinical studies. We are committed to transforming healthcare by delivering a comprehensive and highly engaging whole-person health platform, which enables us to create a future where healthy change is effortless and accessible to all.
At the core of our mission and vision is engagement. We believe that most existing digital health solutions in the market fail to deliver improved health outcomes because users are not engaged due to a lack relevance, personalization, consumerization, and longitudinal data and information. We, and our acquired companies, first commercialized our digital behavioral health products in the direct-to-consumer ("D2C") marketplace, and we continue to use the D2C marketplace as a sandbox and laboratory to innovation. These consumers pay for these digital health products out of their own pockets and are therefore the most value driven among all healthcare consumers. These consumers demanded that we deliver highly engaging user experiences that deliver strong clinical health outcomes for which consumers will pay. The bottom line is that if users are not engaged in digital solutions over a long period of time, they cannot change their behavior and they cannot get healthier – we first deliver engagement followed by sustained behavior change that then leads to measurable health outcomes and improvement. We believe that our D2C marketplace roots and continued focus delivers better user experiences, longer sustained engagement, stronger clinical outcomes, at the most affordable prices, that then delivers the highest return on investment ("ROI") in the industry.
Valuation FY2025 figures against the last close
Annual financial statements
Income statement
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $22.4M | $27.0M | $20.4M | $27.7M | $20.5M | $7.6M | $7.6M | $7.4M | $5.2M | $2.8M |
| Cost of revenue | $9.7M | $13.8M | $14.4M | $18.0M | $16.6M | $5.1M | $5.0M | $5.6M | $3.9M | $3.4M |
| Gross profit | $12.7M | $13.3M | $6.0M | $9.7M | $4.0M | $2.5M | $2.6M | $1.8M | $1.3M | -$830.0K |
| R&D | $13.8M | $24.2M | $20.2M | $19.6M | $17.2M | $4.4M | $3.7M | $3.7M | $3.3M | $2.2M |
| SG&A | $15.2M | $20.5M | $18.1M | $16.5M | $23.5M | $12.8M | $5.5M | $5.5M | $4.7M | $3.4M |
| Total operating expenses | $49.3M | $71.0M | $62.2M | $66.5M | $80.5M | $32.4M | $20.3M | $19.5M | $15.7M | $10.3M |
| Operating income | -$36.7M | -$57.7M | -$56.2M | -$56.8M | -$76.5M | -$29.9M | -$17.7M | -$17.7M | -$14.4M | -$11.1M |
| Interest expense | $3.0M | — | — | — | — | — | — | — | — | — |
| Pre-tax income | -$41.6M | -$44.6M | -$59.4M | -$62.2M | -$76.7M | -$29.4M | -$17.7M | -$17.8M | -$15.7M | -$10.9M |
| Income tax | $105.0K | $1.9M | $64.0K | $4.0K | $32.0K | — | — | — | — | — |
| Net income | -$41.7M | -$42.7M | -$59.4M | -$62.2M | -$76.8M | -$29.4M | -$17.7M | -$17.8M | -$15.7M | -$10.9M |
| EPS, basic | 10.12 | 12.27 | 1.93 | 2.54 | 4.07 | 4.01 | — | — | — | — |
| EPS, diluted | 10.12 | 12.27 | 1.93 | 2.54 | 4.07 | 4.01 | 8.00 | 15.63 | 1.64 | 2.09 |
| Shares, diluted (wtd. avg.) | 4.0M | 2.5M | 28.4M | 23.6M | 16.6M | 6.0M | — | — | — | — |
Balance sheet
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Cash and equivalents | $21.8M | $27.8M | $36.8M | $49.5M | $35.9M | $28.7M | $20.5M | $11.1M | $3.9M | $1.1M |
| Short-term investments | — | — | — | — | — | — | — | — | $258.0K | $225.0K |
| Receivables | — | — | — | — | — | — | — | — | — | $0 |
| Inventory | $4.3M | $4.8M | $5.1M | $8.0M | $6.2M | $2.3M | $1.4M | $1.4M | $1.2M | $888.0K |
| Total current assets | $35.1M | $40.5M | $47.3M | $65.5M | $45.6M | $34.1M | $22.9M | $13.1M | $6.0M | $2.9M |
| Property, plant and equipment | $549.0K | $709.0K | $899.0K | $788.0K | $702.0K | $576.0K | $648.0K | $733.0K | $869.0K | $901.0K |
| Goodwill | $57.4M | $57.4M | $41.6M | $41.6M | $41.6M | $0 | — | — | — | — |
| Other intangibles | $15.9M | $18.8M | $5.4M | $9.9M | $12.5M | — | — | — | — | — |
| Total assets | $110.1M | $118.9M | $96.4M | $119.2M | $100.8M | $35.4M | $24.6M | $14.1M | $7.0M | $3.9M |
| Short-term debt | — | $5.5M | $4.0M | $8.8M | $0 | — | — | — | — | — |
| Total current liabilities | $9.3M | $16.6M | $12.5M | $19.4M | $14.4M | $7.0M | $5.2M | $5.2M | $3.0M | $2.9M |
| Long-term debt | $30.7M | $23.5M | $24.6M | $18.1M | $0 | — | — | — | — | — |
| Retained earnings | -$452.1M | -$390.3M | -$349.4M | -$285.9M | -$222.0M | -$143.2M | -$110.1M | -$89.3M | -$71.0M | -$55.0M |
| Total equity | $67.9M | $72.0M | $58.1M | $80.0M | $85.5M | $28.2M | $18.9M | $8.9M | $3.9M | -$6.5M |
Cash flow
| Fiscal year | FY2025 | FY2024 | FY2023 | FY2022 | FY2021 | FY2020 | FY2019 | FY2018 | FY2017 | FY2016 |
|---|---|---|---|---|---|---|---|---|---|---|
| Operating cash flow | -$25.9M | -$38.6M | -$30.4M | -$47.8M | -$50.4M | -$17.7M | -$15.7M | -$11.5M | -$10.6M | -$8.4M |
| Depreciation and amortisation | $307.0K | $1.3M | $473.0K | $356.0K | $282.0K | $190.0K | $183.0K | $207.0K | $195.0K | $387.0K |
| Stock-based compensation | — | $46.0K | — | — | — | — | — | — | — | — |
| Capital expenditure | $142.0K | $138.0K | $584.0K | $442.0K | $261.0K | $118.0K | $98.0K | $71.0K | $195.0K | $808.0K |
| Investing cash flow | -$4.3M | -$8.9M | -$547.0K | -$573.0K | -$8.1M | -$1.6M | -$113.0K | -$72.0K | -$219.0K | -$947.0K |
| Financing cash flow | $24.3M | $38.5M | $18.3M | $61.9M | $65.8M | $27.5M | $25.2M | $18.7M | $13.5M | $7.7M |
| Buybacks | — | — | — | $134.0K | — | — | — | — | — | — |
Figures as tagged in each year's own filing, in US dollars. A year restated by a later filing shows the restated figure. Capital expenditure, dividends and buybacks are cash out, shown positive. A line the filer does not report is not listed. Latest from accession 0001104659-26-031621.
Plot the figures US dollars
- Revenue
- Gross profit
- Net income
| Fiscal year | FY2016 | FY2017 | FY2018 | FY2019 | FY2020 | FY2021 | FY2022 | FY2023 | FY2024 | FY2025 |
|---|---|---|---|---|---|---|---|---|---|---|
| Revenue | $2.8M | $5.2M | $7.4M | $7.6M | $7.6M | $20.5M | $27.7M | $20.4M | $27.0M | $22.4M |
| Gross profit | -$830.0K | $1.3M | $1.8M | $2.6M | $2.5M | $4.0M | $9.7M | $6.0M | $13.3M | $12.7M |
| Net income | -$10.9M | -$15.7M | -$17.8M | -$17.7M | -$29.4M | -$76.8M | -$62.2M | -$59.4M | -$42.7M | -$41.7M |
Recent filings and events
- Officer or director change Someone at the top arrived or left. The item covers everything from a board retirement to a chief executive being removed, and only the filing itself says which. Item 5.02
- Officer or director change Item 5.02
- Material agreement signed The company entered an agreement outside the ordinary course of business - a large contract, a credit facility, a merger agreement. Item 1.01
- Other event The catch-all. The company chose to disclose something that fits no other item, so the content is whatever it says it is. Item 8.01
- Officer or director change Item 5.02
- Officer or director change Item 5.02
- Other event Item 8.01
- Material agreement signed Item 1.01
- Annual report filed A new 10-K. The figures and the business description on this site come from it. Form 10-K
- Charter or fiscal year changed A change to the company's governing documents, or to when its year ends. Item 5.03
- Shareholder vote The results of the annual meeting or a special vote. Item 5.07
- Material agreement signed Item 1.01
Item numbers are Form 8-K's own, and a filing date is up to four business days after the thing it reports. The same feed across the whole market.
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