Kooth (LSE:KOO) expects to report revenue of £30.8 million for the six months ended 30 June 2026, compared with £32.1 million in the same period last year. The modest decline reflects the planned reduction in California product development income and the impact of unfavourable foreign exchange movements. Despite lower revenue, adjusted EBITDA is forecast to increase significantly to between £5.0 million and £5.4 million, up from £1.6 million a year earlier, driven by strong engagement with its California programmes and the benefits of previous investment. Unaudited net cash also strengthened to £23.1 million.
The company reported continued progress during the fourth year of its California contract, where its Soluna platform has now reached 187,000 registrations. Kooth said the programme has received independent recognition from California state authorities and academic research and has also been included in Governor Gavin Newsom’s Children and Youth Behavioral Health Initiative. In the UK, the company is expanding its reach through a new integrated employment and mental health pathfinder programme in the West Midlands while also extending the rollout of Soluna to students. These initiatives support Kooth’s strategy of driving long-term growth through its State Alliance model and deeper partnerships with public health and education organisations.
Improved profitability and a stronger cash position, together with increasing recognition of its digital mental health platforms within government-backed programmes, further strengthen Kooth’s position in the sector. The company believes growing adoption by public-sector organisations provides a solid platform for future expansion ahead of the release of its full half-year results in September 2026.
Kooth’s outlook continues to be supported by strong financial quality, including a debt-free balance sheet and improving profitability, alongside an attractive valuation based on earnings. These strengths are partially offset by softer revenue and cash flow compared with 2024, while technical indicators suggest the shares may be approaching overbought levels despite maintaining a positive longer-term trend.
About Kooth
Kooth Plc is an AIM-listed provider of digital mental health services specialising in support for children, teenagers and young adults. The company delivers accessible online mental health platforms across the UK and several U.S. states, including California, Michigan and New Jersey, while continuing to expand services such as its Soluna platform into education and employment-focused programmes.
Operating within the growing digital healthcare sector, Kooth works with government agencies, healthcare providers, schools and community organisations to deliver preventative and accessible mental health support. Its strong financial position enables continued investment in product innovation, platform development and international growth.
Celebrating its 25th anniversary, Kooth continues to strengthen its role in publicly funded behavioural health initiatives. As its services become more deeply embedded within government-supported programmes, the company is expanding its presence as a long-term partner in improving youth mental health and supporting participation in education and employment.
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