Kooth PLC (AIM:KOO) shares surged 15% in early trading on Tuesday after the digital mental health platform delivered strong full-year results and a bullish outlook for 2025.
Revenues for 2024 doubled to £66.7 million, driven by the rapid expansion of its US operations, particularly Soluna, its youth-focused platform in California, which has now reached 75,000 young people across all 58 counties.
The daily usage rate in the first quarter of 2025 is already four times higher than last year.
Momentum continues with a pilot in New Jersey and a Medicaid-backed launch in Illinois through Aetna Better Health.
In the UK, Kooth retained its position as the largest NHS England mental health provider for under-18s, renewing key contracts despite a tough policy and funding backdrop.
The company posted a 598% increase in adjusted EBITDA to £15.8 million and ended the year with £21.8 million in net cash.
The stock was up 19p at 150p.