DarioHealth (NSDQ:DRIO) shares ticked up in pre-market trading today on fourth-quarter revenues that equaled the consensus forecast.
The New York–based digital therapeutics company posted losses of –$9 million for the three months ended Dec. 31, 2020, representing a more than doubled bottom-line slide from the same quarter last year on sales growth of 15.7%.
The quarter’s revenues came in at about $2.1 million, matching the projections made by analysts on Wall Street.
“The fourth quarter continued our successful transition into the business-to-business market with employer and health system wins, the expansion of our sales management team, the expansion of our offering into MSK and an expansion of our pipeline to more than $600 million. We are very pleased with the progress that we have made in less than a year. We expect we will launch customers in all three of our market segments in 2021 as a result of the significant efforts that the team has taken in 2020,” DarioHealth president & GM of North America Rick Anderson said in a news release.
“As we enter 2021, we have already launched, and are generating revenue from, all of the contracts that we have previously announced. Early enrollment has been robust and consistent with our expectations. We believe that these customer launches will contribute, along with anticipated additional contracts, to growing revenue in 2021 and beyond.”
DarioHealth did not provide financial guidance for the coming first quarter or the full year ahead.
DRIO shares closed yesterday down –3.3% at $21.15 per share but have since received a boost in pre-market trading this morning, rising 4.8% at $22.16 per share.
