Trading update for the year to 31 December, 2021

RNS Number : 1322Y

Trustpilot Group PLC

12 January 2022

 

Trustpilot Group PLC

12 January, 2022

Trading update for the year ended 31 December, 2021

Full-year constant currency revenue growth of c.+24%, with bookings up c.+27%, and ARR up c.+26% year-over-year (YoY)

Trustpilot Group PLC ("Trustpilot"), a leading global review platform, provides an update on trading for the financial year ended 31 December, 2021 ("FY21")

For FY21 Trustpilot expects to report total revenue of $131m, representing c.29% growth YoY, or c.24% at constant currency. We expect to report FY21 annual recurring revenue (ARR) of $144m, compared to $119m in the prior year, representing c.26% constant currency growth YoY. Total bookings increased to $150m, up c.32% YoY, or c.27% at constant currency.

USD	FY21	FY20	(+/-) % actual	(+/-) % constant currency
Total revenue	$131m	$102m	c.+29%	c.+24%
ARR1	$144m	$119m	c.+22%	c.+26%
Total bookings2	$150m	$113m	c.+32%	c.+27%

¹ Annual Recurring Revenue = Monthly Recurring Revenue * 12 translated at period closing spot rate

² The annual contract value of contracts signed in a given period translated at monthly average rates

Notice of results

Trustpilot is scheduled to report results for the financial year ended 31 December, 2021 on Tuesday 22 March, 2022. On that day, a webcast and conference call for analysts and investors will take place at 09:00. For registration and access to the webcast please visit https://investors.trustpilot.com.

CEO Peter Holten Mühlmann commented:

"We are very encouraged by this excellent financial result, with revenue ahead of expectations and strong growth in bookings and ARR. Over the past twelve months, we have continued to make strong progress against our strategic ambitions for Trustpilot to be the most trusted and most used global consumer reviews platform. Through this, we are fast becoming a universal symbol of trust that inspires confidence in people and businesses, thus providing a real benefit to society."

Enquiries

Trustpilot Investor Relations:

Derek Brown

[phone]

Tulchan Communications

James Macey White

Matt Low

Jordan McCulla

[phone]

About Trustpilot

Trustpilot was founded in 2007 with a vision to create an independent currency of trust.

A digital platform that brings businesses and consumers together to foster trust and inspire collaboration. We are free to use, open to everybody and built on transparency.

Trustpilot hosts reviews to help consumers shop with confidence, and deliver rich insights to help businesses improve the experience they offer. The more consumers use our platform and share their own opinions; the richer the insights we offer businesses; and the more opportunities they have to earn the trust of consumers, from all around the world.

Trustpilot has over 840 employees and is headquartered in Copenhagen, with operations in London, Edinburgh, New York, Denver, Melbourne, Berlin, Vilnius, Milan and Amsterdam.

 

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