Kooth Expects Strong Revenue Growth for 2023

By Najat Kantouar

Kooth, the U.K. digital mental health and wellbeing company, is anticipating robust revenue growth in 2023. Despite challenges in the U.K. market, the company’s international-expansion strategy, particularly focusing on the U.S. market, has been instrumental in driving this expected growth.

According to Kooth, revenue for the previous year is projected to increase by 65%, amounting to approximately £33.3 million ($42.3 million). This remarkable growth can be attributed to various factors. It is important to note that these figures do not include the $4 million revenue received from U.S. contracts, which will be recognized in early 2024.

While the U.K. market experienced revenue growth, Kooth acknowledges that there may be headwinds in the near future. Despite this, the company remains optimistic about its prospects in 2024.

“2023 marked a significant milestone for Kooth, highlighted by our largest contract win with the State of California. The momentum we have gained, coupled with our strong financial performance and ability to generate recurring revenue, positions us well for further progress in 2024,” stated Tim Barker, Chief Executive Officer of Kooth.