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Vandana Singh

EXCLUSIVE: Babylon Posts 3X Jump In Q1 Sales, Forecasts FY22 Sales Of Over $1B

  • Digital healthcare company Babylon Holdings Limited (NYSE:BBLN) has reported Q1 FY22 sales of $266.4 million, up 274% Y/Y, beating the consensus of $234.55 million.
  • The growth was primarily driven by value-based care (VBC) revenue growth, which increased by 805% Y/Y to $246.6 million.
  • The company added over 100,000 new U.S. VBC members, with managed care for over 440,000 members.
  • Loss totaled $(91.4) million, compared to a loss of $(10.8) million a year ago. 
  • Excluding one-off upfront revenue recognized of $24.8 million in Q1 FY21 regarding software licensing arrangement, the net loss margin improved 57 percentage points from (91)% in Q1 2021. 
  • Clinical Care Delivery Expense more than doubled to $23.9 million but decreased significantly as a percentage of revenue from 17% to 9%, demonstrating operational leverage across the network.
  • Excluding one-off upfront revenue of $24.8 million, the adjusted EBITDA margin improved by 50 percentage points from (77)% in Q1 2021.
  • Guidance: Babylon forecasts FY22 sales of over $1 billion, compared to the earlier guidance of $900 million - $1 billion, and the consensus of $968.99 million.
  • The company is updating the guidance of Adjusted EBITDA loss from (30)% of revenue to no greater than $(295) million for revenues totaling $1.0 billion. 
  • Price Action: BBLN shares are up 11.60% at $1.25 during the premarket session on the last check Thursday.
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