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Last checked at 
22 Jan 2021 07:00
22 January 2021
Kooth plc
("Kooth" or the "Group")
Trading update
Kooth, a leading digital mental health platform, announces a trading update for the financial year ended 31 December 2020.
Underlying revenue is expected to be ahead of market expectations and in the range of £12.5m to £13.0m, with strong growth of more than 40%.
Net cash at year end was £7.8m with the Group debt free following its IPO in September 2020.
Kooth will provide further details in its full year results, which are expected to be announced in April 2021.
Tim Barker, Chief Executive Officer of Kooth, said:
"2020 was a very important and successful year for Kooth, before and after our IPO. Our progress reflects our leading position supporting children and young people via the NHS, and early success with our expansion to support the NHS and Corporate adult market. We look forward to further progress in the year ahead."
ENDS
The information contained within this announcement is deemed by the Company to constitute inside information as stipulated under the Market Abuse Regulation (EU) No. 596/2014 ('MAR'). Upon the publication of this announcement via a Regulatory Information Service ('RIS'), this inside information is now considered to be in the public domain.
Enquiries:
Kooth plc |
|
Tim Barker, Chief Executive Officer Sanjay Jawa, Chief Financial Officer | via FTI Consulting
|
Panmure Gordon, Nominated Adviser and sole Broker |
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Corporate Finance: Dominic Morley, Nicholas Harland, Sandy Clark Corporate Broking: Erik Anderson | +44 (0) 20 7886 2500 |
FTI Consulting |
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Jamie Ricketts / Alex Shaw / Clementine Boyer / Usama Ali | kooth@fticonsulting.com |
About Kooth
Kooth is a leading provider of online mental health services. Our purpose is to make personalised digital mental healthcare available to all, such as self-help tools and content, peer support and professional counselling. We believe easy access makes early intervention and prevention a reality.
Kooth provides three services:
· Kooth (for children and young people): Kooth is commissioned in 80% of the NHS's clinical commissioning group areas in the UK.
· Qwell (for adults): Qwell supports victims of domestic violence, and delivers anonymous digital mental health support services to employees.
· Kooth work (for organisations): Kooth Work enables employers to support the wellbeing of their employees, providing a wellbeing community, counselling, content and self-help tools.
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