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DarioHealth Corp. (DRIO-6.30%) has submitted its Form 10-K filing for the fiscal year ended December 31, 2024.
The filing details DarioHealth's operations, focusing on its digital therapeutics platform aimed at managing chronic conditions. The company reports revenues of $27,040,000 for 2024, an increase from $20,352,000 in 2023, driven by growth in its commercial channel and the acquisition of Twill.
Cost of revenues decreased to $13,773,000 in 2024 from $14,368,000 in 2023, attributed to reduced payroll-related expenses and stock-based compensation, offset by increased amortization and hosting costs.
Gross profit for 2024 was $13,267,000, representing 49.1% of revenues, compared to $5,984,000 or 29.4% of revenues in 2023. The increase is primarily due to higher commercial channel revenues.
Research and development expenses rose to $24,179,000 in 2024 from $20,248,000 in 2023, mainly due to higher payroll and consulting expenses following the Twill acquisition.
The company highlights its continued focus on expanding its digital health platform, integrating AI-driven solutions, and enhancing customer engagement.
DarioHealth acknowledges risks related to its financial position, including reliance on a major customer and the need for additional capital to sustain operations.
The filing outlines various risks, including regulatory challenges, competition, and potential cybersecurity threats, which could impact future performance.
DarioHealth's acquisition of Twill is noted as a strategic move to enhance its product offerings, though the company warns of integration challenges and the need to realize expected benefits.
The report also addresses compliance with U.S. and international regulations, emphasizing the importance of maintaining effective internal controls and managing cybersecurity risks.
This content was summarized by generative artificial intelligence using public filings retrieved from SEC.gov. The original data was derived from the DarioHealth Corp. annual 10-K report dated March 10, 2025. To report an error, please email earnings@qz.com.