- Kooth
- 23 September 2026 14:08:15
Source: Sharecast
Revenue for the six months to 30 June fell 3.9% to £30.8m from £32.1m a year earlier, reflecting adverse currency movements, the planned tapering of California product-development revenue and lower UK revenue. The decline was partly offset by a new contract in Michigan. On a constant-currency basis, revenue fell 2%.
Annual recurring revenue increased 1.9% to £62.9m, although it edged lower on a constant-currency basis.
Adjusted EBITDA jumped 102% to £5.3m from £2.6m, while gross margin increased to 74.1% from 62.8% as marketing spending normalised following accelerated investment in California last year.
Kooth recorded a £2.0m profit after tax, compared with a £1.3m loss in the first half of 2025, while net cash rose to £23.1m from £15.3m.
The company said its US operations now span California, New Jersey and Michigan, giving 20.2m people access to its services. Registrations for its Soluna platform in California reached more than 187,000 by the end of June.
Kooth said it expected underlying full-year results to be broadly in line with expectations, before the potential impact of currency movements, while investment is set to increase in the second half as it seeks to embed Soluna further in California and convert its US state pipeline.
Chief executive Kate Newhouse said: “The foundations that we committed to strengthening in 2025 are now well-established and bearing fruit, with growth in profit and EBITDA demonstrating that it is possible to deliver on outcomes while remaining disciplined on costs.”
Kooth shares pulled back 3.4% to 170p following the results, though still stand 15% higher over the past month and up 48% over the year to date.
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