Kooth PLCs 2025 full-year results highlight strong strategic execution, with a focus on sustainable growth and a positive outlook for 2026. Key achievements include exceeding performance targets in California, with over 144,000 young people registered on the Soluna platform, and expanding the US footprint to three states while maintaining a strong UK market position. Financial highlights include revenue of ยฃ63.3 million, adjusted EBITDA of ยฃ11.3 million, and a robust balance sheet with ยฃ21.6 million in cash and no debt. The company is scaling its US presence, launching Soluna in the UK, and investing in ethical AI and product development. Despite a modest revenue decline from 2024, Kooth remains well-positioned for long-term growth, supported by a diversified customer base and a focus on impact-driven partnerships.
| Financial Metric | 2024 | 2025 | Change |
|---|
| Revenue (ยฃ'm) | 66.7 | 63.3 | -5.1% |
| Annual Recurring Revenue (ยฃ'm) | 66.4 | 60.6 | -8.7% |
| Adjusted EBITDA (ยฃ'm) | 15.8 | 11.3 | -28.5% |
| Cash (ยฃ'm) | 21.8 | 21.6 | -0.9% |
| Debt (ยฃ'm) | 0 | 0 | 0% |
### Key Observations:
1. **Revenue Decline**: Revenue decreased by 5.1% from ยฃ66.7m in 2024 to ยฃ63.3m in 2025, primarily due to FX movements, reduced product development revenues in California, and delays in signing the Michigan contract.
2. **Annual Recurring Revenue (ARR) Drop**: ARR fell by 8.7% from ยฃ66.4m to ยฃ60.6m, driven by FX impacts and a ยฃ1.7m reduction in California product development revenue.
3. **Adjusted EBITDA Reduction**: Adjusted EBITDA decreased by 28.5% from ยฃ15.8m to ยฃ11.3m, reflecting continued investment in growth drivers, particularly in California.
4. **Cash Position**: Cash remained stable, decreasing slightly by 0.9% from ยฃ21.8m to ยฃ21.6m, despite a ยฃ1.5m share buyback in February 2025.
5. **Debt-Free Status**: The company maintained its debt-free status in both years.