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LabStyle Innovations Reports 2014 Second Quarter Results and Anticipated Milestones for the Remainder of the Year
Date:8/15/2014

CAESAREA, Israel, Aug. 15, 2014 /PRNewswire/ -- LabStyle Innovations Corp. (OTCQB: DRIO), developer of the Dario™ Diabetes Management Solution, today reported its financial and operational results for the three and six months period ending June 30, 2014. The company also presented an overview of results of the Dario™ smart meter soft launch, recent corporate achievements and anticipated milestones for the remainder of 2014.

The initial launch of the Dario™ smart meter which has been underway since late March 2014 has  met with promising market demand demonstrated in the initial soft launch territories; the United Kingdom, Italy, and New Zealand.

The initial launch feedback includes the following:

  • Dario™ has been well received with excellent feedback from users. This has resulted in over 20,000 thousand of Dario app downloads in the six month period only in the soft launch territories, and a higher than average pick up rate thus indicating the feasibility to convert downloads to users in an efficient and productive manner.
  • Built a strong supportive community of people with diabetes using Dario™ for their diabetes management needs, primarily in the United Kingdom.
  • Surpassed the accepted industry average pickup rate for new users. The current pick up rate of over 68% of these users is due to their very positive experience with Dario™.
  • Number of Dario™ smart meter users has passed 2,000 and is growing. Reimbursement codes took longer than expected to be obtained and therefore, the number of users has been constrained and below expectations.  Now that reimbursement codes have been secured the user growth rate is expected to accelerate.
  • During the first half and the early third quarter of 2014, LabStyle believes that its roll out execution is on target as he following milestones were achieved:

  • Commenced first shipments of the Dario™
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  • SOURCE LabStyle Innovations Corp.
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