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.
For further details see:
Babylon Holdings reports Q4 earnings miss; initiates FY23 outlook