Slide 1: Kooth H1 2025 Interim Results
Kooth H1 2025 Interim Results Building mentally healthier populations to enable a more productive future September 2025 Kate Newhouse Sanjay Jawa Chief Executive Officer Chief Financial Officer
Slide 2: Successful execution in H1 with significant growth in usage
2025 H1 progress Successful execution in H1 with significant growth in usage Following an exceptional year in 2024, front-loaded investment has accelerated reach and capability With strengthened executive leadership, we are in a robust position to execute on our evolving strategy. Significant growth
Slide 3: With the development of our strategy laying the foundations for significant long term growth
2025 H1 progress With the development of our strategy laying the foundations for significant long term growth Evolution of our strategy underpins our path to significant long term growth Sustaining a market-leading position requires innovation and agility as the landscape evolves; our evolving strate
Slide 4: Results in line with our expectations; new contract growth offset by FX headwinds
H1 Financial highlights Results in line with our expectations; new contract growth offset by FX headwinds Revenue increased 1.3% on a constant currency basis driven by New Revenue Cash Jersey contract win (£0.6m) and California revenue recognition (£0.4m). Overall decrease of £0.4m impacted by negati
Slide 5: Market need - why we are here
+" Market need - why we are here
Slide 6: In a rapidly changing landscape, our current approach is more relevant than ever
Global market outlook In a rapidly changing landscape, our current approach is more relevant than ever… Widening access to evidence-based care at scale; with crucial safeguards to ensure positive impact. We support our users to develop their skills; improving daily functioning, preventing issues fro
Slide 7: As the policy environment shifts, our market leading position ensures we are well-placed
Market outlook As the policy environment shifts, our market leading position ensures we are well-placed to translate this into new growth opportunities USA UK MAHA focus on prevention NHS 10 year plan focuses on shifting the system towards digital access as default - at the earliest New reimbursemen
Slide 8: Strategy for sustainable growth
Strategy for sustainable growth
Slide 9: Extending our model will strengthen our offer and unlock new funding streams
Strategic evolution Extending our model will strengthen our offer and unlock new funding streams - digital front door to “networked continuum of care” “To meet the evolving market dynamics, we need to offer additional and specific support packages that impact standard clinical and functional outcome me
Slide 10: Our primary US growth play: State Alliance Model explained
US State Alliance Model Our primary US growth play: State Alliance Model explained Payor-agnostic, statewide behavioral health - starts with the Governor, ends with systems - state specific approach Governor-Funded, Statewide BH access: Statewide ‘digital front door’ into behavioral health resources
Slide 11: Our evolved strategy will allow us to add value by embedding and integrating care
User journey - EXAMPLE Our evolved strategy will allow us to add value by embedding and integrating care options from a range of payors in one place Carla finds out about Using self-guided tools Through Soluna, Carla can Soluna through a local on Soluna, Carla is access a structured Latinx community
Slide 12: Example: Potential path to scale in example US state
US State Alliance Model - EXAMPLE Example: Potential path to scale in example US state Build-up showing % of population covered Shows the potential alliance system partners to build a path to a statewide solution 3% 34% 60% 100% With a state-supported population-wide program we build a multi-year pa
Slide 13: Underpinned by this strategic evolution are our five priority programme pillars
Strategic priorities Underpinned by this strategic evolution are our five priority programme pillars 1 2 Personalised care Reach & retention Evolving our capabilities to targeted Whole-Product Continue driving organic growth, support based on user need and funder trust and engagement required outcome
Slide 14: Operational highlights
+" Operational highlights
Slide 15: With significant registration numbers delivered, we are now focusing on sustainable reach
California With significant registration numbers delivered, we are now focusing on sustainable reach and demonstrating our impact Building on 2024, Soluna now has over 130,000 registered users in California, demonstrating impact and return on investment, on track for 1 in 44 youth in the state signed
Slide 16: Our tried-and-tested playbook to build reach through trusted advocates
System integration Our tried-and-tested playbook to build reach through trusted advocates draws on the success of this approach in the UK 65% £15 UK teachers have Average CAC for Kooth heard of Kooth in the UK Consistent advocacy building through education, community and healthcare organisations and
Slide 17: Trusted advocates and system partnerships drive stronger ongoing engagement
System integration Trusted advocates and system partnerships drive stronger ongoing engagement and set down roots for long-term, sustainable growth New Jersey partnerships are unlocking trusted referrals System advocates and in-person referrals drive stronger ongoing 150K+ 150+ Teens & families thro
Slide 18: By reaching those in need and improving their mental health, we can achieve real-world impact
Demonstrating impact By reaching those in need and improving their mental health, we can achieve real-world, measurable impact for our users and customers Generating Reaching youth Improving Unlocking system-wide in need wellbeing potential benefits 69% 80% 75% 54% Soluna CA users score CA users achi
Slide 19: H2 Outlook
+" H2 Outlook
Slide 20: California and UK policy alignment remain areas of focus as we kick-off new strategic priorities
H2 2025 priorities California and UK policy alignment remain areas of focus as we kick-off new strategic growth and whole-product priorities Accelerate success in California for renewal in 2027 and wider US growth strategy 1 Reach 1 in 44 and prove early help model - digital front door to care naviga
Slide 21: Investment case
Investment case ➔ Mental Health seen as key driver to economic productivity Growing Demand ➔ Demand in current form outstripping supply ➔ Shift to early help and digital is efficient way to address this ➔ Largest UK digital provider, global leading expert in youth mental health Market position ➔ Suc
Slide 22: Appendix
Appendix
Slide 23: Kooth - what we do and how
+" Kooth - what we do and how
Slide 24: Kooth provides timely population-wide digital mental health support
Kooth Model Kooth provides timely population-wide digital mental health support to deliver positive impact at an individual, system and societal level Reach people where they are Early and responsive support, Providing the “spine” of digital from self-help to professional support front door to care
Slide 25: We scale what works, combining evidence-based approaches with technology
Soluna Platform We scale what works, combining evidence-based approaches with the reach, engagement and efficiency of technology Self-therapy content Tools & activities Peer-support Professional support 25
Slide 26: We reduce pressure on healthcare systems. 95% of people get the support they need
Unique model We reduce pressure on healthcare systems. 95% of people get the support they need without costly 1:1 structured counselling % Users Outcomes T OR Goal-based outcomes (CoGS) PP Structured 75% achieve a positive change in life goals SU Counselling 40% AL ON of users SI Session wants and n
Slide 27: What we do matters, all the way from the deeply personal to the economics of a nation
Our purpose What we do matters, all the way from the deeply personal to the economics of a nation Our purpose is to build mentally healthier populations, to enable a more sustainable, resilient and productive future, leaving no one behind. We achieve this by using the latest technologies and working
Slide 28: Income Statement
Income Statement Half year to 30 June (unaudited) Revenue increased 1.3% on a constant currency basis driven by the New Jersey contract win (£0.6m) and additional revenue recognition from California £m 2023 2024 2025 (£0.4m) offset by £0.6m of UK contract churn (predominantly adult). Overall revenue
Slide 29: Balance sheet
Balance sheet £m (Unaudited) 30 June 2023 30 June 2024 30 June 2025 Strong debt-free balance sheet with £15.3m net cash and Goodwill 0.5 0.5 0.5 £27.4m net assets. Development costs 5.8 10.2 9.1 Other non-current assets 1.8 1.9 1.9 Development costs carrying value £9.1m. Amortised over Total non-cur
Slide 30: Cashflow
Cashflow Half year to 30 June (unaudited) £m Cash outflow from continuing operations was £3m 2023 2024 2025 Adjusted EBITDA 0.0 7.8 1.6 reflecting our planned investment in key areas of focus including user marketing in California. Movement in Net Working Capital 0.3 0.3 -4.6 Operating Cashflow 0.3 8
Slide 31: 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