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DarioHealth Corp. (NASDAQ:DRIO) announced Thursday that Steven M. Nelson has been appointed as the company’s president and chief commercial officer, effective the same day. Nelson, age 52, has served as DarioHealth’s chief commercial officer since June 5, 2024.
Prior to joining DarioHealth, Nelson was president and chief executive officer of Contigo Health, a subsidiary of Premier Inc., from October 2018 to September 2023. He previously held leadership roles at Anthem, Inc. (now Elevance Health), including chief operating officer of its diversified services business, Carelon, from 2017 to 2018; vice president of strategy, planning and innovation from 2015 to 2016; and chief of staff to the chief financial officer from 2016 to 2017. Nelson also served as senior vice president of strategy, product and marketing at Highmark Inc. from 2007 to 2014, and as senior vice president of executive oversight at Allegheny Health Network, a Highmark subsidiary, from 2012 to 2014. His appointment comes at a crucial time for DarioHealth, as InvestingPro data shows the company’s stock has experienced significant volatility, currently trading at $0.72, well below its 52-week high of $1.55.
Earlier in his career, Nelson held senior roles in the consumer health and marketing sectors, including positions at GNC Holdings, MET-Rx Nutrition, 141 Communicator, and GMR Marketing. He holds a Bachelor of Science in Education from the University of Pittsburgh at Johnstown and a Master of Arts in Business Administration from Ohio University.
According to the company’s statement, there will be no changes to Nelson’s compensation as previously reported in his offer letter dated May 29, 2024, as amended. The filing also states that there are no arrangements or understandings with any other person in connection with his appointment, and there are no transactions requiring disclosure under Item 404(a) of Regulation S-K.
This information is based on a statement released in a regulatory filing with the U.S. Securities and Exchange Commission.
In other recent news, DarioHealth Corp. reported its first-quarter 2025 earnings, achieving an earnings per share (EPS) of $0.14, which exceeded analyst expectations of a forecasted loss of $0.10. However, the company’s revenue of $6.75 million fell short of the anticipated $7.47 million. Despite the revenue miss, DarioHealth noted a 17% year-over-year increase in revenue, alongside a 36% reduction in non-GAAP operating loss. In a strategic move, DarioHealth extended the mandatory conversion period for its preferred stock and introduced a dividend policy, offering holders a dividend equal to 15% of the common stock shares issuable upon conversion.
Additionally, DarioHealth has formed a strategic partnership with GreenKey Health to develop a care solution for obstructive sleep apnea, targeting commercial health plans and self-funded employers. Analysts at Stifel revised their outlook on DarioHealth, lowering the price target from $2.00 to $1.50 while maintaining a Buy rating, citing short-term challenges but expressing confidence in the company’s long-term growth potential. The company is believed to have sufficient cash and borrowing capacity to sustain operations until reaching breakeven, which management aims to achieve by early 2026. These developments reflect DarioHealth’s ongoing efforts to enhance its financial performance and expand its market presence.
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