Trustpilot Group PLC (LSE:TRST) stock climbed almost 17% on Tuesday, as the consumer review business reported bumper results for first six months of the year.
Core earnings hit US$5.7 million, up from last year’s US$5.4 million loss, while net losses narrowed from US$9.2 million to US$2.5 million.
Bookings, signed with businesses to feature on Trustpilot’s website, climbed by 16% in US$99.2 million on constant currency terms.
“The more that people and businesses use Trustpilot, the more valuable it becomes to everyone,” the company said in a statement.
“As consumer and business adoption continues to grow, the two sides of our platform reinforce one another, further extending our competitive advantage.”
Net dollar retention rate did indeed fall from 100% to 99% over the half year, though Trustpilot attributed the decline to macroeconomic uncertainty.
“Our value proposition is strong, our business is resilient, and our strategy is working,” the company added.
Shares climbed 16.6% to 96.96p.