Half Year Trading Update

Kooth PLC

29 July 2026

 

29 July 2026

Kooth Plc

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

Half Year Trading Update

 Continued strong performance with Adjusted EBITDA expected to be £5.0m-£5.4m

Kooth (AIM: KOO), a leading provider of digital mental health services, announces an unaudited trading update for the half year ended 30 June 2026.

Trading update

Celebrating its 25 year anniversary, Kooth continues to deliver vital digital mental health services to whole populations across the UK, California, Michigan and New Jersey, with a particular focus on teens and young adults.

Performance for the half year ended 30 June 2026 is in line with expectations. Revenues for the period are expected to be £30.8m (H1 2025: £32.1m), reflecting planned tapering of California product development revenue and a negative FX movement of £0.7m partially offset by revenues from a new contract with the State of Michigan. Adjusted EBITDA is expected to be £5.0m-£5.4m (H1 2025 £1.6m) reflecting strong California user engagement compared to the prior period in which Adjusted EBITDA had decreased in line with an accelerated investment in key areas of focus. Kooth's balance sheet remains very strong, with unaudited net cash as at 30 June 2026 of £23.1m (H1 2025: £15.3m).

In California, Kooth has now entered the fourth year of the contract and is continuing to demonstrate robust and consistent delivery, having exceeded performance targets with 187k registrations by the end of June 2026. The value of Soluna has been independently validated through both the California Department of Health Care Services' (DHCS) 2025 Impact Report and independent research from Northwestern University's Lab for Scalable Mental Health.

Reflecting Soluna's system-wide impact and the strength of partnerships with local communities, schools and partners, Soluna was also highlighted as a core element of California's Governor Gavin Newsom's Children and Youth Behavioral Health Initiative (CYBHI) in his recently published Legacy Report. This came alongside the announcement of a balanced budget for California across 2026-27 and 2027-28,  providing a stable basis for planned Government spending going forward.

In the UK Kooth's market position remains strong, with recent Government recommendations calling for more flexible and preventative support for children and young people, particularly to improve participation rates in education and employment. The Company has recently launched an integrated employment and mental health support pathfinder programme in the West Midlands, and Soluna by Kooth is rolling out for young people in the UK as they return to school.

The Group's half year results for the six months to 30 June 2026 will be announced in September 2026.

Kate Newhouse, Chief Executive Officer of Kooth, said:

"Throughout the first half of 2026 we have continued to build on the strong foundations we established in 2025. The external validation of Kooth's services in California has reinforced the positive impact Soluna has on young people across California, with registrations continuing to grow as we embed into the State's healthcare and educational systems.

"As we look ahead to the next six months, we will continue to execute against our evolved strategy and State Alliance model to deliver sustainable growth for Kooth whilst being guided by our mission to build mentally healthier populations and make a tangible difference to young people."

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.

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Enquiries:

Kooth plc	[e-mail]
Kate Newhouse, CEO
Sanjay Jawa, CFO
Stifel, Nominated Adviser & Joint Broker	[phone]
Ben Maddison, Fred Walsh, Erik Anderson, Ben Good
Canaccord Genuity, Joint Broker	[phone]
Simon Bridges, Harry Gooden, Elizabeth Halley-Stott
FTI Consulting, Financial PR	[e-mail]
Ben Atwell, Sam Purewal, Lucy Molloy

About Kooth plc:

Kooth (AIM:KOO) is a global leader in digital mental and behavioural health, providing safe, effective care to over 20 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 - Soluna, Kooth and Qwell- 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 £3 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.

 

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