Commercial Exchange Building

 Babylon Reports Q1 2023 Financial Results

Retrieved on: 
Wednesday, May 10, 2023
Software, Telemedicine, Virtual Medicine, General Health, Health, Health Technology, Technology, Apps, Applications, Mobile, Wireless, Medicaid, Commercial Exchange Building, Centene Corporation, Comparison, GAAP, Sale, EBITDA, Ratio, Cost, Yoy, Growth, Commercial, Adjustment, YTD, NYSE, Cryptocurrency, Bookkeeping, Pharmaceutical industry, VBC

Babylon Holdings Limited (NYSE: BBLN) (“Babylon” or the “Company”) today announced its financial and operating results for the first quarter ended March 31, 2023.

Key Points: 
  • Babylon Holdings Limited (NYSE: BBLN) (“Babylon” or the “Company”) today announced its financial and operating results for the first quarter ended March 31, 2023.
  • Comparison of the following financial results for the three months ended March 31, 2023, to the three months ended March 31, 2022:
    Total revenue was $311.1 million compared to $266.4 million, a 1.2x year-over-year increase of $44.7 million.
  • This was primarily due to the growth in VBC revenue, which increased by 17% year-over-year to $287.5 million in Q1 2023.
  • Babylon will not host its previously announced conference call on May 10, 2023 to discuss first quarter 2023 results.

Babylon Reports Another Strong Year Exceeding Guidance, and Accelerates Expected Adjusted EBITDA Profitability to Mid-2024

Retrieved on: 
Thursday, March 9, 2023
Apps, Applications, Mobile, Wireless, Technology, Other Technology, Health Technology, Telemedicine, Virtual Medicine, Software, Other Health, General Health, Health, Adjustment, Ratio, Quarter, Webcast, NYSE, Net operating loss, Commercial, Growth, Albacore, Comparison, Bank statement, Centene Corporation, Medicaid, Sale, Yoy, GAAP, Annual report, Cost, EBITDA, Clinical, Value, Total, Commercial Exchange Building, Cryptocurrency, Pharmaceutical industry, Bookkeeping, Insurance, Mobile phone, Video game, Reinsurance, VBC

The Company expects Adjusted EBITDA to fall from $(274.5) million in 2022 to the range of $(120) million and $(100) million in 2023.

Key Points: 
  • 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.
  • Adjusted EBITDA totaled $(48.9) million, a (16.9)% Adjusted EBITDA Margin, compared to $(80.6) million Adjusted EBITDA, or (68.5)% Adjusted EBITDA Margin, in Q4 2021.
  • Adjusted EBITDA, Adjusted EBITDA Margin, Medical Loss Ratio, Medical Margin and Cost of Care Delivery Margin are non-GAAP measures.