Babylon Holdings Ltd. (BBLN) shares are falling more than 64 percent on Wednesday morning trade after reporting loss of $63.23 million or $2.53 per share in the first quarter, wider than the prior year's loss of $29.10 million or $1.71 per share last year.
Further, the health information services company has withdrawn its full-year 2023 revenue and adjusted EBITDA guidance, and its mid-2024 target for adjusted EBITDA profitability, which was issued on March 9, 2023. The company said it is not providing updated guidance at this time.
Currently, shares are at $2.52, down 64.29 percent from the previous close of $7.08 on a volume of 2,635,357.
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