Update on Pennsylvania pilot contract
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Kooth (AIM: KOO), a global leader in youth digital mental well-being, today provides an update on its first pilot contract in Pennsylvania (the "Contract"). The Company has received communication from the State of Pennsylvania (the "State") regarding the Contract, exercising the State's right to terminate with a 30 day notice period. The Contract, signed on 11 October, 2022, was intended to run until 30 June, 2024, and was subsequently extended until June 2025, whilst negotiations on a new contract were ongoing.
From this latest communication, the status of Kooth's work in the State going forward is unclear and therefore the Company is urgently seeking clarification.
The Board's expectations for 2024 and 2025 remain unchanged.
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