Babylon Again Delivers Significant Growth to Reach Over 440,000 Managed Lives Globally, After Signing New US Value-Based Care Agreements

Babylon (NYSE: BBLN) today announced that it expects its revenues in January 2022 to be over $80 million monthly, driven by the securing of US value-based care agreements which will deliver an estimated 88,000 organic new members, bringing global managed lives to over 440,000.

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Babylon surpassed $80m in recurring revenue in January 2022, resulting in increasing the company's full year revenue expectations to up to $1bn, as presented at the JP Morgan Conference. (Photo: Business Wire)

As a result, the company is increasing full-year 2022 revenue guidance to be $900 million to $1 billion. This is an increase of up to 40% on previous revenue guidance of $710 million and represents approximately a tripling of the revenue expected for the 2021 fiscal year.

“Once again, Babylon continues to build strong momentum as support in our approach to re-engineer every touch point in the healthcare continuum increases amongst partners and members alike,” said Ali Parsa, Founder & CEO of Babylon. “While our continued growth may seem extraordinary in the healthcare universe, it is not unlike the levels of the many well-known disruptive digital innovators such as Amazon, Netflix, Tesla, or Airbnb, who also experienced similar growth in their `take-off' years.

“As happened in those sectors, it is clear we are witnessing the dawn of a structural digital overhaul in healthcare. We believe that with each new member we serve, we are demonstrating that we not only have the ambition, determination and single-minded focus, but also the track record to benefit from this transformation and in return, deliver an excellent value proposition for our patients and partners.”

The Company also confirmed that revenue for the year ended December 31, 2021 is expected to meet its previously stated target of $321 million. This financial result is preliminary, unaudited and subject to change in connection with the completion of the Company’s financial closing process and the preparation of its audited financial statements for 2021.

*Slide taken from presentation at JP Morgan Conference 2022*

About Babylon

Babylon is one of the world’s fastest growing digital healthcare companies whose mission is to make high-quality healthcare accessible and affordable for every person on Earth.

Babylon is re-engineering how people engage with their care at every step of the healthcare continuum. By flipping the model from reactive sick care to proactive healthcare through the devices people already own, it offers 24 million people globally ongoing, always-on care. Babylon has already shown that in environments as diverse as the developed UK or developing Rwanda, urban New York or rural Missouri, for people of all ages, it is possible to achieve its mission by leveraging its highly scalable, digital-first platform combined with high quality, virtual clinical operations to provide integrated, personalized healthcare.