Slide 1: Kooth 2022 Full Year Results
Kooth 2022 Full Year Results We provide a welcoming space for effective, personalised digital mental healthcare, accessible to all 4 April 2023 Tim Barker Sanjay Jawa Chief Executive Officer Chief Financial Officer
Slide 2: Mental health is the defining public health crisis of our time
Mental health is the defining public health crisis of our time 1-in-5 of the population have a diagnosable mental health condition every year The global cost of mental health will reach $6trn by 20301 (Now: $467bn2 US, £118bn3 UK) Healthcare systems cannot keep up with growing demand To address this,
Slide 3: Kooth was founded in 2001 to digitally transform mental health care
Kooth was founded in 2001 to digitally transform mental health care Grow access Early intervention & responsive support ~16.7 million people have access 1-in-36 average usage, up to 1-in-7 No barriers Self-determination Safe space Person-centric Over 1 million hours professional support Health equit
Slide 4: Products and growth pillars
Products and growth pillars Children and young people Adults Workforce UK US UK UK Market £85m +$1bn £300m £150m Size NHS Integrated Care Systems State Government NHS Integrated Care Systems ‘Key worker’ organisations Customer Local Authorities Medicaid & Insurers Local Authorities Charities Kooth p
Slide 5: Strategic highlights
Strategic highlights March 23: State of California awarded Kooth a contract to support all 13-25 year olds, launch January US State of Pennsylvania $3 million pilot contract for up to 30 (of 500) school districts Children & Young People Over 60% of UK 10-25 year olds have free access to Kooth UK New
Slide 6: Financial highlights
Financial highlights 21% revenue growth in line with market expectations, Revenue Net Cash continuing adoption of digital-first healthcare £20.1m | £16.7m £8.5m | £7.1m 2022 2021 2022 2021 95% of revenue from contracts of 12+ months 107% Net Revenue Retention (2021: 109%) Annual recurring revenue Adj
Slide 7: Income statement
Income statement 21% revenue growth in line with market expectations this has been driven by US expansion (contributing £1.5m), fee uplifts from existing clients and new business Financial year to 31 December in Adult and Children and Young People. Adult increased to just under 15% of £m 2020 2021 2
Slide 8: Rapid progress in the US within our first 18 months
Rapid progress in the US within our first 18 months Over $6 billion was announced in 2022 by Federal and State A crisis in US youth mental health governments to transform access to youth mental healthcare 22% of high school students seriously Mar 22 State of the Union: National strategy announced con
Slide 9: California contract will have a highly material impact on revenue and ARR from 2024 onwards
California contract will have a highly material impact on revenue and ARR from 2024 onwards Forms part of a 5-year, $4.7bn investment plan, one of 15 workstreams The California Department of Health Care Services (DHCS) vetted 450 mental health vendors and content providers in awarding to Kooth Kooth
Slide 10: UK market landscape: Supporting the NHS as it undergoes changes and challenges
UK market landscape: Supporting the NHS as it undergoes changes and challenges Focus on population-health and early intervention Long-term opportunity Short-term slowdown in decision making Reorganisation into Tackle health inequity Integrated Care Systems Spring Budget: £400m / 5 year additional sp
Slide 11: UK children & young people (10-25 years): Expanding into new regions
UK children & young people (10-25 years): Expanding into new regions. Growing level of need and risk in the population >60% 15% of 10-25 year olds increase in logins can access Growth in commissions in Scotland a key highlight (from 4 to 9 contracts) Investments in safeguarding, clinical team and tr
Slide 12: Kooth Adult: Taking the strain off NHS services by providing early help
Kooth Adult: Taking the strain off NHS services by providing early help and responsive mental health support New commissions Focus on providing whole-population access to early and responsive support 230% increase in access to 8.8 million adults (2021: 3.8 million) County Durham and Tees Valley Devon
Slide 13: Kooth Work: focus on key workers in high stress, low pay roles
Kooth Work: In a competitive market, from meditation to medical insurance, our focus is key workers in high stress, low pay, often traumatic roles What is already available isn’t working >70% of businesses offer an Employee Assistance Program (EAP) 1 ~5% of employees use them, 2% will qualify for 1:
Slide 14: Future: Personalisation drives engagement and outcomes
Future: Personalisation drives engagement and outcomes California acts as a catalyst to deliver on our vision Personalisation: Kooth has a large corpus of anonymised mental health data, >1 million users Experience: Deliver an engaging mobile app with content, activities, peer-support Digital therapi
Slide 15: Summary and outlook
Summary and outlook Finalisation of California contract expected in Q2 following which we will be ahead of 2023 market revenue expectations US: Continuing to deliver on Pennsylvania pilot to renew/expand, additional opportunities in other States UK: Focused on ICS relationships and expansion as they
Slide 16: Strategic highlights
Strategic highlights March 23: State of California awarded Kooth a contract to support all 13-25 year olds, launch January US State of Pennsylvania $3 million pilot contract for up to 30 (of 500) school districts Children & Young People Over 60% of UK 10-25 year olds have free access to Kooth UK New
Slide 17: Important disclaimer
Important disclaimer The information contained in these slides and the accompanying oral presentation (together, the Presentation) has been prepared by Kooth plc (the “Company”). The Presentation is subject to updating, completion, revision and amendment without notice and as such it may change mate
Slide 18: Appendix
Appendix . “ ' %E kooth
Slide 19: Balance sheet
Balance sheet £m 31 Dec 2020 31 Dec 2021 31 Dec 2022 Goodwill 0.5 0.5 0.5 Development costs 2.6 2.9 3.7 Other non-current assets 0.4 0.6 0.2 Strong debt-free balance sheet with £8.5m net cash and £10.5m net assets. Total non-current assets 3.5 4.0 4.4 Trade and other receivables 2.2 2.7 3.2 Developm
Slide 20: Cashflow
Cashflow £m 31 Dec 2020 31 Dec 2021 31 Dec 2022 Cash generated from continuing Adjusted EBITDA 0.9 2.1 1.6 operations £4.1m. This performance was Movement in Net Working Capital -0.3 -0.3 2.5 a combination of advance payments from Operating Cashflow 0.6 1.8 4.1 clients and strong cash collections sign
Slide 21: Sustainable growth: Comparable industry metrics
% Recurring Revenue Net Revenue Retention 95% | 94% 107% | 109% 2022 2021 2022 2021 Annual Contract Value Customer Lifetime Value Sustainable growth: £141k | £112k £1.2m | £1.4m Comparable industry metrics 2022 2021 2022 2021 Cost of Customer Acquisition Average Revenue per Staff £62k | £20k £53k |
Slide 22: Population usage
Digital mental health is still nascent in the NHS for CYP 1-in-7 Grow usage £1.2bn NHS budget for CYP mental health 22/23 ~1.25% of that is spent on Kooth CYP Population usage £85m addressable Today: 60% of population have access, 1-in-36 use, market opportunity 15% annual increase in logins. If we