Highlights

  • Kooth’s H1FY25 revenue edged lower year on year, reflecting FX headwinds and changes to UK contracts.
  • Gross profit declined in H1 as cost pressures and investment weighed on margins during the period.
  • Profit after tax also moved into negative territory in H1 due to higher marketing and operating costs.
  • Management maintains a constructive H2FY25 outlook, supported by easing cost pressures and policy tailwinds.

Kooth PLC (LSE:KOO) is a UK-based digital mental health services provider listed on the FTSE AIM All-Share, delivering a clinically accredited platform focused on early intervention and therapeutic support.

Kooth reported a mixed performance for the first half of the fiscal year 2025 (H1FY25), with higher cash and cash equivalents and interest income, alongside declines in total revenue and gross profit.

The company reported H1 revenue of GBP 32.00 million versus GBP 32.40 million in H1 FY24, reflecting a 1.2% year-on-year decline, attributed to negative foreign exchange impact and changes in UK contracts. Operating performance shifted from a profit of GBP 4.60 million in H1FY24 to an operating loss of GBP 2.00 million in H1FY25, linked to front-loaded marketing investment in California that affected gross margin. Profit after tax moved from GBP 3.90 million in H1FY24 to a loss of GBP 1.20 million in H1FY25, also driven by planned, front-loaded marketing expenditure in California, which increased costs.

Company Outlook

Management has indicated a decent outlook for H2FY25, stating that Kooth is positioned for future growth as front-loaded investment in California is largely complete, which is expected to support margin improvement and user growth. The guidance also referred to policy tailwinds in the UK and US, a pipeline of opportunities, and a favourable balance sheet supporting the outlook for sustainable expansion.

Top 10 Shareholders

The company’s top 10 shareholders collectively account for around 79.95% of its total share capital, with Root Capital LLP holding the largest stake at approximately 25.62%, followed by Harwood Capital LLP at about 10.20%.

Stock Information

Shares of KOO closed at GBX 116.5 on 18 December 2025, trading close to the 52-week low of GBX 115 and sharply below the 52-week high of GBX 200, reflecting a 35.8% year-to-date decline and a 30.9% fall over the past year.

Note 1: Past performance is not a reliable indicator of future performance.
Note 2: The reference data for all price data, currency, technical indicators, support, and resistance levels is 18  December 2025. The reference data in this report has been partly sourced from EODHD/Others.

Technical Indicators Defined

Support: A level at which the stock prices tend to find support if they are falling, and a downtrend may take a pause backed by demand or buying interest. Support 1 refers to the nearby support level for the stock and if the price breaches the level, then Support 2 may act as the crucial support level for the stock.

Resistance: A level at which the stock prices tend to find resistance when they are rising, and an uptrend may take a pause due to profit booking or selling interest. Resistance 1 refers to the nearby resistance level for the stock and if the price surpasses the level, then Resistance 2 may act as the crucial resistance level for the stock.