BBLN - Babylon Holdings reports Q4 earnings miss; initiates FY23 outlook

March, 09 2023 06:06 AM Babylon Holdings Limited Class A

2023-03-09 06:06:53 ET

Babylon Holdings press release ( NYSE: BBLN ): Q4 GAAP EPS of -$4.50 misses by $0.08 .
Revenue of $289M (+145.7% Y/Y) misses by $1.4M .
Outlook: Babylon has successfully implemented nearly $125 million in annualized cost reductions, with most of the planned actions to achieve Net loss and Adjusted EBITDA improvements for 2023 already executed. Adjusted EBITDA as a percentage of revenue has fallen by 52ppt to (16.9)% QoQ.
The Company expects Adjusted EBITDA to fall from $(274.5) million in 2022 to the range of $(120) million and $(100) million in 2023.
Babylon now expects to achieve Adjusted EBITDA profitability in mid-2024, significantly ahead of previous guidance.

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Company Name:	Babylon Holdings Limited Class A
Stock Symbol:	BBLN
Market:	NYSE