DARIOHEALTH CORP Reports Second Quarter Earnings for FY2023 on August 10, 2023
August 19, 2023
🌥️Earnings Overview
DARIOHEALTH ($NASDAQ:DRIO): On August 10 2023, DarioHealth Corp reported its earnings results for the second quarter of FY2023, ending June 30 2023. The company’s total revenue for the quarter was USD 6.2 million, a decrease of 0.5% year-on-year. Additionally, its net income for the quarter totaled USD -16.6 million, a slight improvement from the -18.0 million reported in the same quarter of the prior year.
Stock Price
Upon release of the earnings report, DARIOHEALTH CORP stock opened at $3.4, and closed at $3.2, representing an 8.4% drop from the prior closing price of 3.4. Despite the stock’s downward trend, many financial experts remain optimistic about the company’s future as they continue to believe in the potential of their innovative products. This increase was attributed to the increased demand for their digital health products and services. Despite the positive news, investors remained cautious as the stock dropped 8.4% from its initial opening price of $3.4.
Investors are concerned that the company may be over-extending itself in terms of investments and are concerned that the company may not be able to keep up with its rivals in terms of innovation. It will be interesting to see how investors respond to DARIOHEALTH CORP’s earnings in the coming weeks and months. Live Quote…
About the Company
Income Snapshot
Below shows the total revenue, net income and net margin for Dariohealth Corp. More…
| Total Revenues | Net Income | Net Margin |
| 26.63 | -58.47 | -201.8% |
Cash Flow Snapshot
Below shows the cash from operations, investing and financing for Dariohealth Corp. More…
| Operations | Investing | Financing |
| -33.03 | -0.42 | 18.31 |
Balance Sheet Snapshot
Below shows the total assets, liabilities and book value per share for Dariohealth Corp. More…
| Total Assets | Total Liabilities | Book Value Per Share |
| 117.16 | 38.76 | 2.93 |
Key Ratios Snapshot
Some of the financial key ratios for Dariohealth Corp are shown below. More…
| 3Y Rev Growth | 3Y Operating Profit Growth | Operating Margin |
| 55.2% | – | -200.9% |
| FCF Margin | ROE | ROA |
| -126.2% | -44.5% | -28.5% |
Analysis
At GoodWhale, we conducted an analysis of DARIOHEALTH CORP‘s fundamentals. We found that DARIOHEALTH CORP is a medium risk investment in terms of financial and business aspects based on Risk Rating. Upon further investigation, our team has also detected 4 risk warnings in the income sheet, balance sheet, cash flow statement, and financial journal. If you’d like to take a closer look into these risk warnings, simply register with us to do so. More…
Peers
The company’s products are used by healthcare professionals to manage chronic conditions, such as diabetes, and by patients to improve their health and wellbeing. The company’s competitors include GBS Inc, Biocept Inc, and Abingdon Health PLC.
– GBS Inc ($NASDAQ:GBS)
Biocerpt Inc is a molecular diagnostics company that develops and commercializes proprietary circulating tumor cell (CTC) and circulating nucleic acid (CNA) tests. The company’s tests are designed to provide clinicians with personalized information to guide cancer therapy decisions. The company’s technology platforms include the Biocept CTC Platform, which is designed to capture, enumerate and analyze CTCs in a patient’s blood; and the Biocept CNA Platform, which is designed to capture, enumerate and analyze CNA from cells in a patient’s blood. The company’s tests are used for a variety of cancer types, including breast, non-small cell lung, small cell lung, gastric, colorectal, head and neck, and melanoma.
– Biocept Inc ($NASDAQ:BIOC)
Abingdon Health PLC is a UK-based medical technology company that develops, manufactures and markets rapid diagnostic tests. The company has a market capitalization of 8.82 million as of 2022 and a return on equity of -30.54%. Abingdon Health’s products are used in a variety of settings, including hospitals, clinics, physician offices, and laboratories. The company’s products are designed to provide quick and accurate results for a variety of medical conditions.
Summary
DARIOHEALTH CORP reported second quarter FY2023 results on August 10 2023, with total revenue of USD 6.2 million, a slight decrease of 0.5% year-over-year. Net income was negative at -16.6 million, a decrease from -18 million in the same period last year. In response, the stock price dropped on the same day.
For investors, this new information may suggest that investment in DARIOHEALTH CORP is risky, as profitability has decreased and revenue has stalled. A thorough financial analysis should be conducted before deciding whether to invest in this company.
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