REG - Kooth PLC - Trading Update

KoothAnnouncement

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RNS Number : 5545Q  Kooth PLC  28 January 2026

28 January 2026

 

Kooth Plc

 

("Kooth", the "Company" or the "Group")

Trading Update

 

Kooth (AIM: KOO), a leading provider of digital mental health services,
announces a trading update for the financial year ended 31 December 2025.

 

Trading update

2025 revenues are expected to be £63.3m (2024: £66.7m, £65.1m constant
currency). This is broadly in line with expectations 1  (#_ftn1) , reflecting
the continued impact of foreign exchange movements and a delay to the signing
of a new contract with a US State. This contract has now been signed in the
current financial year (see below).

 

Adjusted EBITDA is expected to be ahead of market expectations(1), reflecting
the intentional weighting of marketing expenditure in California towards H1
2025 (where we continue to make strong progress) and good discipline on costs.
The Company's unaudited cash position remains strong at £21.5m (£21.8m as at
31 December 2024, £20.9m constant currency) following the completion of a
£1.5m share buyback. Kooth maintains an undrawn working capital facility of
$9.5m.

 

US State contract win and operational progress

As announced on 22 January 2026, Kooth is pleased to have signed a new
one-year contract with a US State valued at $2.6m. Under the terms of the
Contract, Kooth will provide mental health support via its Soluna platform to
school districts within the State, reaching up to 100,000 students aged 13 to
18.

 

This contract follows the renewal of the contract with the State of New Jersey
(as announced in October) and represents further progress as Kooth continues
to deliver vital digital mental health services and provisions to young people
across the US.

 

In California, the Company is showing significant progress with successful
delivery and impressive traction, including exceeding the State's Department
of Health Care Services' (DHCS) registration targets for 2025, with over 144k
(some 1-in-40) young Californians having registered with the platform since
Soluna's launch in January 2024. This reflects notable and rapid growth in
awareness in just two years, with an excess of 51,000 coaching sessions
completed and over 1.6m messages exchanged between users and practitioners.
Most importantly, results prove that Soluna is providing valuable support; 98%
of users would recommend coaching to a friend, and 85% of users meet at least
one need during a coaching session.

 

This real-world impact coupled with the Kooth's commitment to system
integration has led to California's largest county, Los Angeles (representing
over 1m potential users), signing a motion requiring all youth-facing services
to report their approach to integrating Soluna into their services.

 

Kooth's market position remains strong in the UK with an increasingly diverse
pipeline to target new customers, with new services funded by the Department
of Work and Pensions to support young people with mental health needs get back
into education, employment or training launching across South Yorkshire and
Cambridgeshire and Peterborough Combined Authorities. The launch of Soluna in
the UK in 2026 will allow for greater economies of scale and improved product
agility, with product and engineering activity now well advanced alongside
securing relevant regulatory approval.

 

The Company's Full Year Results are expected to be announced at the end of
March 2026.

 

Kate Newhouse, Chief Executive Officer of Kooth, said:

"I am proud of the progress that Kooth has made through 2025, which has
enabled us to reach over a quarter of a million people in need of support. By
focusing on delivering the outcomes that matter most to our service users and
funders, we've exceeded expectations in California, secured our first US
contract renewal in New Jersey, and built on our reputation in the UK to
extend the scope of our funding beyond traditional NHS and public health
boundaries. Our recent contract win in a new US State is a testament to the
quality of the services we provide and the difference we can make to those who
need our help.

 

"We are in a strong position as we enter 2026, and we are beginning to see
positive results following the implementation of our evolved strategy. Our
judicious and client-focused approach provides strong foundations for
delivering impactful long-term growth, without sacrificing financial
sustainability and profitability. As the year progresses, we will continue to
seek opportunities to expand our services to access a wider range of payers
and funding opportunities, whilst further integrating ourselves into
healthcare systems and infrastructure to enable us to have an even greater
impact."

 

This announcement contains inside information for the purposes of Article 7 of
Regulation (EU) No 596/2014 as it forms part of UK domestic law by virtue of
the European Union (Withdrawal) Act 2018. The person responsible for this
announcement is Sanjay Jawa, CFO.

 

- Ends -

 

Enquiries:

 Kooth plc                                            investorrelations@kooth.com (mailto:investorrelations@kooth.com)
 Kate Newhouse, CEO
 Sanjay Jawa, CFO

 Stifel, Nominated Adviser & Joint Broker             +44 (0) 20 7710 7600
 Ben Maddison, Fred Walsh, Erik Anderson, Ben Good
 Canaccord Genuity, Joint Broker                      +44 (0)20 7523 8000
 Simon Bridges, Harry Gooden, Elizabeth Halley-Stott

 FTI Consulting, Financial PR                         Kooth@fticonsulting.com (mailto:Kooth@fticonsulting.com)
 Ben Atwell, Sam Purewal

 

About Kooth plc:

 

Kooth (AIM:KOO) is a global leader in digital mental and behavioural health,
providing safe, effective care to over 18 million people across the UK and US.
For more than 20 years, Kooth has pioneered scalable solutions that deliver
immediate, direct, universal access to mental health support.

 

Our platforms - Kooth, Qwell, and Soluna - combine self-guided tools, safe
peer communities, and professional therapeutic support, all clinically robust
and independently accredited. Kooth holds URAC accreditation in the US and is
the longest standing digital mental health provider to hold UK-wide
accreditation from the British Association of Counselling and Psychotherapy
(BACP), validating our commitment to quality, safety, and accountability
across both markets.

Independent evaluations demonstrate a more than £3 in-year return for every
£1 invested, with measurable reductions in emergency visits and improved
clinical outcomes. Kooth is the largest single access provider for mental
health support for under-18s in England according to NHS England data for
2024/25. In California, our Soluna platform is the first statewide digital
behavioural health solution designed for all youth ages 13-25.

 

The Company is executing on its strategic vision through expanded reach across
a diversified customer base, while seeking opportunities to enhance and extend
the service offer through acquisition, partnership, and product capabilities
supported by responsible AI principles.

 

For more information, https://connect.kooth.com (https://connect.kooth.com/) .

 

 

 1  (#_ftnref1) Consensus expectations for FY2025 are for revenue of £64.8m
and adjusted EBITDA of £9.5m
(https://investors.kooth.com/investors/analyst-consensus.asp
(https://investors.kooth.com/investors/analyst-consensus.asp) )

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