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Babylon +2%, expects $100M savings per year

Jul. 06, 2022 4:33 PM ETBabylon Holdings Limited (BBLNF)By: Manshi Mamtora, CFA
  • 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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