TIDMKOO
RNS Number : 0123Z
Kooth PLC
20 January 2022
20 January 2022
Kooth plc
("Kooth" or the "Group")
Trading update & Board Appointment
Strong revenue growth; performance in line with expectations
Kooth, the UK's leading digital mental health platform,
announces a trading update for the financial year ended 31 December
2021.
Revenue is expected to be in line with market expectations,
supported by strong growth of more than 25%.
Kooth will provide further details in its full year results,
which are expected to be announced in March 2022.
Unaudited net cash at year end was GBP7.0m and the Group remains
debt free.
During the year, Kooth continued to strengthen the breadth and
depth of its leadership team. We are delighted to announce the
appointment of Kate Newhouse to the Board of Kooth plc. Kate will
continue in her role as Chief Operating Officer, having joined
Kooth in May 2020 with a wealth of leadership experience in the
digital health space. Kate was previously CEO of Doctor Care
Anywhere and CEO of Blenheim Chalcot.
This follows the appointment of Dr Tim Budden as Chief Technical
Officer. During the period, Kooth made preliminary steps relating
to its US operations with the hiring of Kevin Winters as General
Manager - North America. Kevin brings US digital mental health
experience, gained from SilverCloud Health, and also spent more
than 14 years at Cerner Corporation working with numerous global
healthcare bodies and payors. At Kooth, Kevin will focus on
establishing Kooth's US service, especially supporting Children and
Young People via healthcare and education.
Tim Barker, Chief Executive Officer of Kooth, said :
"Kooth's mission is to make effective, personalised digital
mental health care available to all. Our excellent performance in
2021 reflects increasing demand for our platform and progress with
this simple, clear mission. I am delighted to report strong revenue
growth and performance in line with market expectations. Kooth is
expanding support to Adults via the NHS and Corporates, building on
its leadership position with children and young people via the NHS,
in addition to having recently made its first senior hire in the
US.
"Kooth has a robust balance sheet which supports further
investment in people and technology to meet our scaling ambitions.
We look forward to further progress in 2022."
Kate Newhouse (previously Wigley), aged 40, does not currently
hold any directorships and was a director of Doctor Care Anywhere
Limited and Kate Newhouse Consulting Ltd in the previous five
years.
Kate holds 480,966 ordinary shares in the Group, equivalent to
1.5% of the Group's current issued share capital.
There is no further information required to be disclosed under
Rule 17 or paragraph (g) of Schedule 2 of the AIM Rules for
Companies.
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 investorrelations@kooth.com
Tim Barker, CEO
Sanjay Jawa, CFO
Panmure Gordon, Nominated Adviser and Joint Broker
Corporate Finance:
Dominic Morley, Ailsa MacMaster +44 (0) 20 7886 2500
Corporate Broking:
Erik Anderson
Stifel, Joint Broker +44 (0) 20 7710 7600
Ben Maddison, Nick Adams, Nicholas Harland
FTI Consulting kooth@fticonsulting.com
Jamie Ricketts, Alex Shaw, Usama Ali
About Kooth plc:
Kooth (AIM:KOO) is the UK's leading digital mental health
platform. Our mission is to provide accessible and safe spaces for
everyone to achieve better mental health. Our platform is
clinically robust and accredited to provide a range of therapeutic
support and interventions. All our services are predicated on easy
access to make early intervention and prevention a reality.
Our four services are:
-- Kooth: for children and young persons
-- Kooth Student: for university and higher-education students
-- Kooth: for Adults
-- Kooth Work: for employees
Kooth is a fully safeguarded and pre-moderated community with a
library of peer and professional created content, alongside access
to experienced online counsellors. There are no thresholds for
support and no waiting lists. Currently, Kooth sees over 4,000
logins a day.
For adults, Kooth operates across distinct locations and serves
specific cohorts, including parents, teachers, victims of crime,
and those who have suffered from or continue to experience domestic
violence. It is also offered as a benefit by a number of corporate
organisations delivering anonymous digital mental health support
services to employees.
Kooth is the only digital mental health provider to hold a
UK-wide accreditation from the British Association of Counselling
and Psychotherapy (BACP).
In 2021, Kooth was named 'Best Newcomer' at the European
Mediscience Awards, winner in the category of 'Tech for Good' at
the UK Tech Awards and recognised as the 'HealthTech Pioneer of the
Year' at the UK Business Tech Awards for its role in 'Supporting
the Nation's Mental Health'.
This information is provided by RNS, the news service of the
London Stock Exchange. RNS is approved by the Financial Conduct
Authority to act as a Primary Information Provider in the United
Kingdom. Terms and conditions relating to the use and distribution
of this information may apply. For further information, please
contact rns@lseg.com or visit www.rns.com.
RNS may use your IP address to confirm compliance with the terms
and conditions, to analyse how you engage with the information
contained in this communication, and to share such analysis on an
anonymised basis with others as part of our commercial services.
For further information about how RNS and the London Stock Exchange
use the personal data you provide us, please see our Privacy
Policy.
END
TSTBRGDBRSBDGDC
(END) Dow Jones Newswires
January 20, 2022 02:00 ET (07:00 GMT)
Kooth (LSE:KOO)
Graphique Historique de l'Action
De Mar 2024 à Avr 2024
Kooth (LSE:KOO)
Graphique Historique de l'Action
De Avr 2023 à Avr 2024
