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Thursday, March 23, 2023

Babylon (NYSE: BBLN) Expects its Revenues to be Over $80 Million Monthly

Babylon Holdings Limited (NYSE: BBLN) disclosed that it is projecting that its revenues in January 2022 will grow to $80 million monthly. This growth is the result of US value-based care agreements which will provide a projected 88,000 organic new members, bringing global managed lives to over 440,000.

BBLN stated that it will continue to gain pace as partners and members alike show interest in its strategy to re-engineer every point of contact in the health system. While its continuous growth may appear remarkable in the healthcare world, it is comparable to the growth of many other well-known innovative technological entrepreneurs, such as Amazon, Netflix, Tesla, or Airbnb, which all had similar growth in their ‘take-off’ years.

Furthermore, the company is raising full-year 2022 revenue guidance to be $900 million to $1 billion. This is a surge of more than 40% on earlier revenue guidance of $710 million and signifies nearly a tripling of the revenue anticipated for the 2021 fiscal year.

The firm also reaffirmed that revenue for the year completed December 31, 2021, is projected to satisfy its earlier stated target of $321 million. This financial result is preliminary, unaudited, and conditional to change in relation to the execution of the financial closing process of the firm and the formulation of its audited financial statements for 2021.

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