Kooth has finally found its groove. Twenty years after being founded by former counsellor Elaine Bousfield, the online therapy service for children is on the way up.
The AIM-listed app, which floated in the autumn for £66m, said in an expectation-busting trading update on Friday that full-year sales growth would be up to 49%, compared with analyst estimates of 39%. Its shares have climbed more than 39% since the listing, giving it a valuation of about £92.5m.
It is clear what is behind the rapid upturn in an app designed to help children and young people suffering from mental health problems. Covid-induced lockdowns have accelerated the adoption of digital mental health services. At the same time, children have been affected by loneliness because of school