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$DRIO - Earnings Call this morning - Turning the Corner (Long)
I continue to highlight and bring to the attention of this investor fan base - Dario Health. From seeing it from the basement to where it's at today; nothing short of spectacular. This company at this valuation will bear a 4 - 10x in the next 12-24 months. If you like how the year has gone, take a seat because its just getting warmed up.
2021 and Recent Highlights
- Total revenue increased 171% from $7.6 million in 2020 to $20.5 million in 2021 on the strength of Dario's rapidly expanding growth resulting from the acquisitions closed in 2021 and the increasing sales in the B2B channel.
- Increased the number of accounts to 54 across the health plan, employer, and provider market segments to create book of business worth $35 million in total contract value.
- Successfully implemented clients and achieved market-leading 40%-member enrollment rate with retention above 80%, proving the value of Dario's B2C2B strategy leveraging the company's successful consumer engagement capabilities.
- Signed a multi-year, multi-faceted agreement with leading health care company Sanofi to accelerate adoption of Dario's solution in the payer market through joint sales efforts and drive innovation through shared research initiatives and development of new products for use on Dario's platform.
- Signed three acquisitions – Upright Technologies Ltd. (Upright") for musculoskeletal health and PsyInnovations, Inc. (dba wayForward) for behavioral health; and executed an acquisition agreement with Physimax computer vision technologies - to expand platform solutions to cover four of the top five condition priorities for B2B buyers.
- Launched digital physical therapy product, Dario Move, which uses wearable sensor technologies developed by Upright, further differentiating the full suite of solutions and generating interest in the health plan and employer markets.
- Published five new clinical studies, including peer-reviewed clinical research demonstrating the impact of Dario's single platform approach in a leading peer-reviewed journal for digital medicine and health, the Journal of Medical Internet Research, providing the market with real-world evidence of the effectiveness of the company's integrated solutions.
- Financially sound into 2024
- More strategic discussions are talking place and expect more deal-flow.
- Company culture, management team, cap table - are in the highest of regards.
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