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DarioHealth, Babylon after year-over-year revenue growth and moredigital health earnings 2022

Digital Chronic Condition Management Company DarioHealth reported a net loss of $15.9 million in the first quarter, slightly higher than last year’s first quarter net loss of $15 million. But the company beat its revenue expectations with $8.06 million, up 124% over the previous year.

Total operating expenses were $19.9 million, compared to $15.4 million in Q1 2021 and $22.2 million during the fourth quarter of last year. Dario noted that the decrease from Q4 came from reducing its direct-to-consumer marketing spend.

In an earnings call, North America president and general manager Rick Anderson said Dario was in the midst of implementing Strategic pact with biopharma giant Sanofi. The $30 million deal was announced in early March.

“Sanofi is using its internal data and real-world evidence teams to build studies around Dario solutions. And we believe the market will grow to demand increasing levels of evidence from digital health providers in the years to come. With that their value will increase.” They said. “Sanofi is well underway, and we are continuing additional strategic relationship discussions, which we believe can drive revenue growth significantly through the end of 2022 and into 2023.”

babylon reported that its first quarter revenue increased from $71.3 million in the prior year quarter to $266.4 million, driven by its value-based care business.

The digital health company posted a loss of $91.4 million compared to a loss of $10.8 million in Q1 2021. Adjusted earnings before interest, taxes, depreciation and amortization (EBITDA) came in at a loss of $72.2 million.

Babylon said it added nearly 100,000 new US value-based care members at the start of the year, bringing its total US membership to 271,000 at the end of the quarter.

“Babylon continued strong revenue growth during the first quarter of 2022, primarily due to our efforts to establish a massive presence in the United States during the latter half of 2021. We continue to exceed our revenue guidance of $1 billion or more in revenue. in 2022, and are making great progress toward achieving our margin targets for the year, CFO Charlie Steele said in a statement.

Baby Tech Company Owlet reported a net loss of $28.8 million in the first quarter, compared to a net loss of $7.9 million for the same period in 2021.

The company’s revenue decreased slightly from $21.9 million in the first quarter of 2021 to $21.5 million. Owlet reported adjusted EBITDA of $18.0 million in 2021, compared to $0.1 million for the same period.

company issued The Dream Duo baby sleep monitoring system debuted earlier this year, as well as a sleep wearable designed for older children. Late last year Owlet received a warning letter from the FDA saying the company was marketing its sleep socks as a diagnostic device, which would require 510(k) approval.

During an earnings call, cofounder and CEO Kurt Workman said the company plans to seek regulatory approval where necessary, including an over-the-counter sock designed for healthy babies and a physician-supported baby monitor. Includes prescription-only sock. ,

“The best way to mark the first quarter of 2022 is to focus on regaining our foothold and position in the market and to re-establish ourselves as the best monitoring solution for parents I’m proud of the Ovlet team, as we continue to be our core business partner, including increasing penetration in the US with our core products, continuing to build out our connected nursery ecosystem, developing medical devices, and growing our international presence. The focus has been on growth areas,” he said in a statement.

home diagnostics company Q Health posted revenue of $179.4 million in the first quarter of 2022, compared to $64.5 million in the first quarter of 2021. This was $2.8 million in net income, compared to $19.7 million during the prior year quarter.

Q cofounder, chairman and CEO Ayub Khattak said during an earnings call that the company has focused on expanding its customer base, its menu of tests and digital offerings such as telemedicine and drug delivery. Q recently submitted to the FDA for de novo approval for its molecular COVID-19 test, and Khattak said it plans another submission for its flu diagnosis in Q3.

“I am pleased with our first quarter 2022 financial results, which include $179 million in revenue, reflecting year-over-year growth of 178%. We have made excellent progress on our menu expansion activities, across all of our programs. are on track or ahead of schedule,” he said in a statement. “The submission of our recent COVID-19 test de novo to the FDA is a major milestone for the company, and we believe it will be the first of many submissions as we continue to introduce many more with our menu of molecular clinical trials. seek to address diseases and conditions. and offer future care.”

Direct-to-consumer virtual care company Hims & Hers reported a net loss of $16.3 million compared to $51.4 million for the first quarter 2021. The company’s revenue increased 94% to $101.3 million, up from $52.3 million during the prior-year quarter.

Adjusted EBITDA was a loss of $6.1 million compared to a loss of $8.6 million for the first quarter 2021.

“We started 2022 with breakout performance, executed firmly against all aspects of our long-term strategy and financial goals. Investments in the platform’s infrastructure, technology and core capabilities led to meaningful improvements in seamless customer experience, ultimately operating increased efficiencies and helped deliver a meaningful adjusted EBITDA beat,” CEO and cofounder Andrew Dudum said in a statement.

“Our new mobile platform, along with a wide range of value-added services, saw strong organic adoption rates, helping to deliver a historic quarter for us as we achieved the largest ever quarterly subscription growth and for the first time ever. Crossed $100 million in quarterly revenue. Time in our history.”

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