Trustpilot Group PLC (LSE:TRST), the consumer reviews company, posted a jump in revenue in 2021 as it forecast growth in line with its expectations this year.
The company, which went public last March, said revenue rose 24% to US$131mln at constant currency from the year-earlier period, in a statement on Tuesday. Bookings climbed 27%.
The loss before tax doubled to US$26.6mln because of one-off costs related to its initial public offering and remuneration expenses. It recorded listing-related costs of US$10mln and a further US$10mln in share-based compensation, in addition to expenses from the partial reopening of offices.
“The board remains confident in the strategy and outlook for the business,” the company said. “We expect to deliver constant currency growth in line with current management expectations in 2022.”
Like several other firms, Trustpilot warned of cost inflation and said it anticipates expenses “will remain at broadly similar percentages of revenue throughout the current year, with overhead leverage to come after”.
Shares of the company are down about 50% this year.