The agreement with Yahoo! accounted for 80% of Babylon's revenue in January-June 2016.
Babylon Ltd. (TASE:BBYL) and Yahoo! have signed an agreement extending cooperation between them for two more years until April 2019. The original four-year agreement signed in April 2013 expires in April 2017.
Babylon's revenue in the first half of the year from the agreement with Yahoo! totaled NIS 7.5 million, 80% of its total revenue of NIS 8.8 million, and has been the company's core activity recently. The company's management expenses during the period amounted to NIS 4.7 million. Babylon has NIS 126 million in cash, and its debt, as of the June 30, 2016, was a mere NIS 6 million.
The company suffered in recent years from the termination of its connection with Google, which decided to prevent certain companies from installing their toolbars on the Google browser.
Published by Globes [online], Israel business news - www.globes-online.com - on September 18, 2016
© Copyright of Globes Publisher Itonut (1983) Ltd. 2016