Kooth PLC

KOO

Equity

ISIN GB00BMCZLK30 / Valor 56824344

LSE London Stock Exchange, SETS (2024-12-20)

GBP 1.63+2.16%

Kooth PLC
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About company

Kooth PLC is a digital mental health platform that collaborates with various institutions in both the private and public sectors to provide online mental health services. The company focuses on delivering accessible and effective mental health support through its digital platform, which aims to improve psychological outcomes and foster resilience within communities. Kooth's services include online counseling, peer support, and self-help resources, designed to address a range of mental health issues. By leveraging technology, Kooth seeks to make mental health care more accessible and tailored to the needs of diverse populations.

Summarized from source with an LLMView SourceSector: Finance

Revenue Growth

Kooth PLC reported a significant increase in revenue for the first half of 2024, reaching £32.5 million, which marks a 179% rise compared to the same period in 2023. This growth was primarily driven by the company's expansion in the US market.

Profitability

For the six months ending June 30, 2024, Kooth PLC achieved a profit after tax of £3.9 million, a substantial improvement from a £0.5 million loss in the previous year. This turnaround highlights the company's successful financial performance during this period.

Adjusted EBITDA

Kooth PLC's adjusted EBITDA for the first half of 2024 was £7.8 million, a notable increase from £0.0 million in the same period of 2023. This improvement reflects the company's enhanced operational efficiency and profitability.

US Market Expansion

The US market has become a significant contributor to Kooth PLC's financial success, accounting for approximately 70% of the company's total Annual Recurring Revenues. The expansion in the US has been bolstered by new partnerships and service launches, such as the Soluna platform in California.

Financial Outlook

Looking ahead, Kooth PLC anticipates continued strong financial performance, with expectations of delivering robust adjusted EBITDA and margins for the full year. The company plans to invest in long-term growth, particularly in expanding its services in both the US and UK markets.

Summarized from source with an LLMView Source

Key figures

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Performance

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Volatility