- Babylon (NYSE:BBLN) plans to accelerate its path to profitability through revenue and cost efficiencies, implemented in Q3 and expects effect in Q4.
- Company is improving its Adjusted EBITDA guidance for FY 2022 from $(295)M or less to $(270)M or less, with forecasted monthly December 2022.
- Adjusted EBITDA of $(18)M or less.
- No change to Babylon's revenue guidance being $1B or greater for FY 2022.
- Expects to generate savings of up to $100M per year
- Stock +2% after hours
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