Trustpilot: UK and US bookings surge helps revenue jump as shares spike
Surge in bookings in North America and the UK helped lead a jump in revenue at Trustpilot during its latest financial year.
The FTSE 250 company has revealed it expects to report a revenue from bookings of $239m (£195.7m) for the 12 months, up from the $195m it achieved in the prior year.
Trustpilot’s annual recurring revenue also rose from $197m to $231m while its general revenue increased from $176m to $211m.
North America bookings rose by 26 per cent while there was a 22 per cent increase in the UK and 18 per cent uplift in Europe and the rest of the world.
Trustpilot, in a new filing with the London Stock Exchange, added that its adjusted EBITDA [earnings before interest, taxes, depreciation and amortisation] is expected to be ahead of consensus.
Following the announcement of its financial performance, shares in Trustpilot increased by almost 13 per cent in early trading.
Trustpilot boss eyes ‘significant growth opportunities’
Trustpilot chief executive Adrian Blair said: “The Trustpilot platform continues to expand, driving a growth flywheel as more consumers read and write reviews, and more businesses use our products to build trust, grow and improve.
“In 2024 we focused on B2B product innovation, launching new features combined with new pricing and product packages.
“As a result, we delivered strong new business growth, combined with a significant improvement in the net dollar retention rate.
“New customer acquisition was strong throughout the year across all focus markets, particularly North America, and we are very pleased with the resulting overall growth in bookings of 21 per cent cc, with adjusted EBITDA expected to be ahead of consensus.
“We made considerable strategic and operational progress in 2024 and remain confident in the significant growth opportunities ahead.”
Trustpilot is expected to report its full-year results on 18 March.