Babylon Shares Gain On Plans To Accelerate Path To Profitability

  • Babylon Holdings Ltd BBLN is soaring in the post-market session after it announced plans to accelerate its path to profitability through revenue and cost efficiencies in response to changing market conditions.
  • These efficiencies will be implemented in 3Q22, with the projected financial benefit beginning in 4Q22, and are expected to generate savings of up to $100 million per year.
  • Babylon raised its FY 2022 Adjusted EBITDA outlook from $(295) million to $(270) million or less, with a monthly December 2022 Adjusted EBITDA of $(18) million or less.
  • Babylon reiterated its revenue expectation of $1.0 billion or more for FY22.
  • Price Action: BBLN shares are trading higher by 2.97% at $1.04 during the post-market session on Wednesday.

Posted In: Briefswhy it's movingNewsPenny StocksSmall CapMoversTrading Ideas

Ad Disclosure: The rate information is obtained by Bankrate from the listed institutions. Bankrate cannot guaranty the accuracy or availability of any rates shown above. Institutions may have different rates on their own websites than those posted on Bankrate.com. The listings that appear on this page are from companies from which this website receives compensation, which may impact how, where, and in what order products appear. This table does not include all companies or all available products.

All rates are subject to change without notice and may vary depending on location. These quotes are from banks, thrifts, and credit unions, some of whom have paid for a link to their own Web site where you can find additional information. Those with a paid link are our Advertisers. Those without a paid link are listings we obtain to improve the consumer shopping experience and are not Advertisers. To receive the Bankrate.com rate from an Advertiser, please identify yourself as a Bankrate customer. Bank and thrift deposits are insured by the Federal Deposit Insurance Corp. Credit union deposits are insured by the National Credit Union Administration.

Consumer Satisfaction: Bankrate attempts to verify the accuracy and availability of its Advertisers' terms through its quality assurance process and requires Advertisers to agree to our Terms and Conditions and to adhere to our Quality Control Program. If you believe that you have received an inaccurate quote or are otherwise not satisfied with the services provided to you by the institution you choose, please click here.

Rate collection and criteria: Click here for more information on rate collection and criteria.