Digital Chronic Condition Management Company DarioHealth posted a net loss of $ 15.9 million in the first quarter, slightly higher than the net loss of $ 15 million in the first quarter of last year. But the company beat its revenue expectations by 8.06 million, up 124% from last year.
Total operating costs were $ 19.9 million, compared to $ 15.4 million in Q1 2021 and $ 22.2 million in the fourth quarter of last year. Dario noted that the decline since Q4 was due to lower its direct-to-consumer marketing spending.
In an earnings call, North American President and General Manager Rick Anderson said Darry was also in the middle of his implementation. Strategic agreement with biopharma giant Sanofi. The 30 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 ৷ and we believe that their value will continue to grow in the coming years as the market continues to demand increasing levels of evidence from digital healthcare providers.” He said. “Going well with Sanofi, we continue to discuss additional strategic relationships that we believe could significantly add revenue between the end of 2022 and 2023.”
Babylon Reported that its first-quarter revenue rose to $ 266.4 million from $ 71.3 million in the same quarter last year, driven by its value-based care business.
The digital health company posted a loss of $ 91.4 million compared to a loss of 8 10.8 million in 2021. Adjustments before interest, tax, depreciation and amortization (EBITDA) resulted in a loss of $ 72.2 million.
Babylon said it added about 100,000 new U.S. value-based care members earlier this year, bringing its total U.S. membership to 271,000 by the end of the quarter.
“Babylon continues strong revenue growth in the first quarter of 2022, primarily due to our efforts to establish a presence in the United States by the end of 2021. We look forward to raising our revenue guidelines to $ 1 billion or more in 2022, and achieving our margin target for the year.” Is making great progress, “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 $ 7.9 million for the same period in 2021.
The company’s revenue fell slightly from 21 21.5 million to $ 21.9 million in Q1 2021. Owlet reported a consistent EBITDA of $ 18.0 million compared to $ 0.1 million for the same period in 2021.
The company has revealed Earlier this year, the Dream Duo Baby Sleep Monitoring System was designed to be wearable for older children. Aulett received a warning letter from the FDA late last year stating that the company was marketing its sleeping socks as a diagnostic tool that would require a 510 (k) clearance.
During an earnings call, co-founder and CEO Kurt Workman said the company plans to take regulatory clearances where needed, including an over-the-counter sock that is designed for healthy babies and a prescription-only pediatric observation with the help of a physician. . .
“The best way to mark the first quarter of 2022 is to focus on regaining our position and return to the market and working to re-establish ourselves as the best monitoring solution for parents. I’m proud of the Owlet team as we focus on our core growth areas.” “Increasing our penetration into the United States with our core products, building our integrated nursery ecosystem, developing medical devices and advancing our international presence,” he said in a statement.
Diagnostic company at home Cue Health earned $ 179.4 million in the first quarter of 2022, compared to $ 64.5 million in the first quarter of 2021. The net income was $ 2.8 million compared to 19.7 million in the same quarter last year.
Q co-founder, chairman and CEO Ayub Khattak said during an earnings call that the company is focused on expanding its customer base, test menus and digital offers such as telemedicine and drug delivery. Cue recently submitted to the FDA for De Novo clearance for its molecular COVID-19 test, and Khattak said it plans to submit another for its flu diagnostics in Q3.
“I am pleased with our first quarterly 2022 financial results, which include $ 179 million in revenue, reflecting a 178% year-on-year increase. We have made great strides in our menu expansion activities, all our programs are on track or ahead of schedule,” he said in a statement. “Our recent COVID-19 test de Novo marks a major milestone for the FDA-submitted company, and we believe it will be the first of many collections as we seek to address a variety of diseases and conditions with our Molecular Diagnostic Test menu.” Offer of care. “
Direct-to-consumer virtual care company Hims & Horses reported a net loss of $ 16.3 million, compared to $ 51.4 million in the first quarter of 2021. The company’s revenue rose 94% to 101.3 million, from $ 52.3 million in the same quarter last year.
The adjusted EBITDA was a loss of $ 6.1 million compared to a loss of $ 8.6 million for the first quarter of 2021.
“We started 2022 with a breakout performance, vigorously performing against all aspects of our long-term strategy and financial goals. EBITDA Beat, “CEO and co-founder Andrew Dudum said in a statement.
“Our new mobile platform, with a wide range of value-added services, has seen strong organic adoption rates, which has helped us deliver a historic quarter as we have achieved the largest quarterly subscription growth to date and exceeded $ 100 million for the first time in our history.” . “