By Christian Moess Laursen
Kooth PLC said Thursday that it expects to report 2022 revenue in line with market expectations as it looks to expand across the UK and into the US
The London-listed digital mental-health platform didn’t provide actual revenue figures, but said it is within range of the market-expected 19.6 million to 20.2 million pounds ($24.2 million-$24.9 million), on growth of more than 15% compared to prior year, it said.
Kooth’s unaudited net cash at year end was GBP8.5 million, up from GBP7.1 million in 2021, it said.
The company said it is on track to expand its services across the UK, with new commissions in Scotland, and into the US market, signing a contract in October with the State of Pennsylvania to provide services for 150,000 students.
“Our proven track record, excellent recurring revenue and net cash position give us an excellent platform as we enter 2023. The strength of our model, strategy and market position, allied to long-term demand for digital mental-health services in the UK and US, support our confidence of further progress in the year ahead,” Chief Executive Tim Barker said.
Kooth plans to publish full-year results in April.
Shares at 0945 GMT were up 6.0 pence, or 3.8%, at 162.50 pence.
Write to Christian Moess Laursen at email@example.com