Trustpilot Group PLC (LSE:TRST) pre-close update for 2025 points to a business regaining momentum across regions, easing concerns about growth durability after last year’s pricing and package changes.
According to analysis from Deutsche Bank, revenue growth came in stronger than expected, with profitability also set to beat market forecasts.
Annual recurring revenue rose 19% on a constant-currency basis, while reported revenue climbed 20% to $261 million, comfortably ahead of Deutsche Bank’s estimates.
Management said EBITDA for the year will be above expectations, signalling improved operating leverage.
The quality of growth matters as much as the headline numbers. Bookings growth accelerated through the year, rising from 17% in the first half to 18% for the full year. Importantly, all regions contributed.
The UK edged higher, Europe and the rest of the world maintained strong momentum, and North America stood out with a clear reacceleration. That geographic spread suggests Trustpilot’s proposition is resonating beyond its home market.
Retention also held up well. Net dollar retention over the past 12 months stood at 102%, a solid outcome given disruption from product migration in 2024. That resilience underpins confidence that recent growth is not simply front-loaded demand.
In afternoon trading, the shares were up 1% at 212.4p.