Digital health company Babylon makes moves toward profitability 

Babylon, a digital health firm based in London, said July 6 that it's implementing revenue and cost efficiencies to speed up its path to profitability.

The company will institute the measures during the third quarter of 2022 with the financial effects expected to show up from the fourth quarter of the year onward, Babylon said in a news release.

Babylon said it has improved its adjusted EBITDA guidance from $295 million or less to $270 million or less for fiscal 2022, in which its revenue guidance of $1 billion or more will stay the same.

As Becker's reported, the company has been busy expanding in the U.S. in recent years.

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