KORTEXT LIMITED

Accounting basis

FRS 102

Reporting scope

Consolidated group

Auditor

Cooper Parry Group Limited

Audit opinion

Unqualified (clean)

Going concern

Affirmed

“As at 30 June 2025, the group had cash of £10.3m. The directors therefore believe that the Group has more than adequate funding for its day to day operations, but it continues to monitor its working capital position carefully. In auditing the financial statements, we have concluded that the directors' use of the going concern basis of accounting in the preparation of the financial statements is appropriate. Based on the work we have performed, we have not identified any material uncertainties relating to events or conditions that, individually or collectively, may cast significant doubt on the group's or the parent company's ability to continue as a going concern for a period of at least twelve months from when the financial statements are authorised for issue.”

Group structure

1. KORTEXT LIMITED · parent
   1. Cloudspring Technologies Limited 100%
   2. Kortext Australia Pty Ltd 100% · Australia
   3. Kortext Canada Ltd 100% · Canada
   4. Kortext FZCO 100% · United Arab Emirates
   5. Kortext Inc 100% · United States of America
   6. Learnsmart Limited 100% · United Kingdom
   7. Solutionpath Limited 100% · England
   8. NewClicks B.V. 100% · Netherlands

Significant events

• “Trading for the year ended 30 June 2025 saw accelerated growth across all markets for the business. Of note was the growth we experienced in our data and analytics business, now fully integrated into the Kortext fusion platform. Working with learner support teams across multiple universities, we are improving student support through more targeted and timely intervention, thereby actively reducing learner drop out rates and improving continuation and completion rates.”
• “To continue our global growth, during the year the group signed a major strategic deal with Follett Higher Education Group in North America. This will see Kortext become the exclusive supplier of digital content for Follett's 1,000+ campus stores across North America, who manage institutional digital textbook provision to their universities with a focus on both inclusive and equitable access programmes for their learners.”
• “Additionally, we signed a similar arrangement with Campus eBook Store (CEI) that covers a significant portion of universities across Canada. We are projecting significant growth in North America driven by these deals over the next few years as we build out our North American operations reflecting our growth in that market.”
• “Generative Al constitutes a revolution in education based upon a structural shift in how knowledge is accessed, interacted with and assessed. Given this, Kortext has developed the market leading, all of university software driven by generative Al. Kortext is now one of only a handful of companies to be Education Al certified by Microsoft.”
• “In November 2025, Kortext announced a major partnership with both Microsoft and the Said Business School at the University of Oxford focused on embedding Al experiences into multiple education workflows at the university to support Al enhanced teaching and learning for both academics and learners.”
• “During the year the company also raised additional capital of some £10m from both existing and new investors, together with our bankers HSBC that ensures we have sufficient liquidity to meet our investment and general growth cash requirements.”
• “Post our year end, we completed the acquisition of the Talis reading list management system from Sage Publishing. Talis is the market leading reading list management system and used around the world to connect libraries to academics who curate course reading lists directly through the system.”
• “We also completed significant partnerships with both Clarivate and with EBSCO, the two largest library management systems providers in the world. These two partnerships will see the Kortext eBook inventory of millions of eBooks embedded into both a) EBSCO's Mosaic & GOBI platforms and b) Clarivate's Rialto, platform, both library market place and acquisition systems, enabling libraries around the world to automate their acquisition of content hosted on the Kortext platform through these major library services businesses.”
• “In November we announced a major partnership with Microsoft and Said Business School and the deployment of Al experiences into the Canvas teaching and learning environment at Said. Additionally since year end we are accelerating investment into our Al capabilities and our North American operations as we are seeing ever increasing opportunity to be the partner of choice for universities around the world, they seek to re-think teaching and learning in the Al age and this will underpin our growth over the next few years.”

Auditor, going-concern and subsidiary information is drawn from the narrative of the latest annual accounts. About these numbers

Filings

9

last 12 months

Capital events

8

last 24 months

Officers appointed

0

last 12 months

Officers resigned

0

last 12 months

Direct counts from the register. No score, no rating — see the Filing timeline for the underlying events.