Kooth Plc (KOO.L), a provider of digital mental health services, Tuesday reported pre-tax loss in the first half compared to profit last year with weak revenues and higher expenses.
The company incurred a pre-tax loss of 1.73 million pounds from a profit of 4.99 million pounds for the same period last year. On a per share basis, the company reported a loss of 0.03 pence compared to 0.10 pence a year earlier.
The loss after tax was 1.26 million pounds versus a profit of 3.92 million pounds a year ago.
Adjusted EBITDA went down to 1.60 million pounds, down by 79.6 percent, versus 7.84 million pounds of last year.
The company's revenue decreased to 32.09 million pounds or 1.2 percent from 32.49 million pounds over the prior period.
Looking ahead for fiscal 2025, the company said it remains on track to deliver growth at revenue and adjusted EBITDA.
At current rates the expected impact would be to reduce full year consensus median revenue of 66.8 million pounds by approximately 2-3 percent and consensus median adjusted EBITDA of 10.2 million pounds by approximately 6-8 percent.
On the London Stock Exchange, the stock is currently trading at 139.42 pence, down 7.05 percent.
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