Kooth PLC Trading update (4981M)
January 22 2021 - 1:00AM
UK Regulatory
TIDMKOO
RNS Number : 4981M
Kooth PLC
22 January 2021
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 GBP12.5m to GBP13.0m, with strong
growth of more than 40%.
Net cash at year end was GBP7.8m 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 via FTI Consulting
Sanjay Jawa, Chief Financial Officer
Panmure Gordon, Nominated Adviser and sole
Broker
Corporate Finance: Dominic Morley, Nicholas
Harland, Sandy Clark +44 (0) 20 7886
Corporate Broking: Erik Anderson 2500
FTI Consulting
Jamie Ricketts / Alex Shaw / Clementine Boyer kooth@fticonsulting.com
/ Usama Ali
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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END
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