NEW YORK and CAESAREA, Israel, November 19, 2019 – Shares of DarioHealth Corp. (NASDAQ: DRIO) inclined 1.68% to $0.21. The stock grabbed the investor’s attention and traded 163.433K shares as compared to its average daily volume of 107.81K shares. The stock’s institutional ownership stands at 21.00%.
For the second quarter ended June 30, 2019, Global digital therapeutics innovator DarioHealth Corp. (DRIO) reported revenue of $1.65M, a 20% decrease from $2.06M in the second quarter ended June 30, 2018.
Gross profit of $326.00K was recorded for the three months ended June 30, 2019, a decrease of 38% or $196.00K compared to gross profit of $522.00K for the three months ended June 30, 2018. This decrease was attributed to lower sales and a one-time expense write-off of our old cartridge production mold for $82.00K.
Operating loss for the second quarter of 2019 decreased by $431.00K to $5.360M, as compared to a $5.80M operating loss in the second quarter ended June 30, 2018.
Net loss attributable to holders of common stock decreased $456.00K to $5.40M in the second quarter of 2019, as compared to $5.80M in the second quarter of 2018. As of June 30, 2018, cash and cash equivalents totaled approximately $8.0M.
Non-GAAP billings for the three months ended June 30, 2019 were $1.75M, a 17% decrease from $2.10M in the three months ended June 30, 2019.
DRIO has a market value of $8.91M while its EPS was booked as $-0.47 in the last 12 months. The stock has 43.00M shares outstanding. In the profitability analysis, the company has gross profit margin of 26.50%. Beta value of the company was -0.01; beta is used to measure riskiness of the security. Analyst recommendation for this stock stands at 2.00.