Babylon Shares Gain On Plans To Accelerate Path To Profitability

July 6, 2022 4:35 PM | 1 min read

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.

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