Health

Babylon reports quarterly losses, but annual revenue is on track towards $ 1 billion

Babylon reports quarterly losses, but annual revenue is on track towards $ 1 billion

Dr. Aliparsa

Babylon Holdings, a London-based digital doctor service, announced a loss of $ 91.4 million in the first quarter of 2022, compared to a net loss of $ 10.8 reported in the first quarter of 2021.

Revenue for the quarter was $ 266.4 million, up from the $ 71.3 million reported in the first quarter of last year.

Ali Parsa, Founder and Chief Executive Officer of Babylon, said: Our investment in technology platforms has achieved exceptional quarterly growth and improved margins, while maintaining over 90% 4 and 5 star member ratings and high clinical quality results. Companies do not offer, people do. I am deeply grateful to the Babylonian team. “

Charlie Steele, Babylon’s Chief Financial Officer, said: With revenue guidance for revenues of over $ 1 billion in 2022, we are making great strides towards achieving our margin targets this year. “

Release date: May 17, 2022

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Babylon reports quarterly losses, but annual revenue is on track towards $ 1 billion

Source link Babylon reports quarterly losses, but annual revenue is on track towards $ 1 billion

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