Trustpilot reports rise in ARR, revenues
By Frank Prenesti
Date: Tuesday 22 Mar 2022
(Sharecast News) - Online ratings website Trustpilot on Tuesday reported a rise in annual recurring revenue (ARR) and bookings in its first full-year results since its listing last March.
The company said ARR, a key metric, was up 22% to $144m. Bookings, which are an indicator of future revenue, surged by a third to $150m.
On a pre-tax basis, the consumer review website reported a loss of $26.6m compared with a loss of $12.9m a year earlier. Revenue rose to $131.4m from $102m and the operating loss widened to $24.2m from a loss of $9.1m.
"We are encouraged by the significant progress we made during 2021 and the board remains confident in the strategy and outlook for the business," the company, which provides online reviews and ratings for businesses, said.
"With the successful financial result and strong booking performance we achieved in 2021 we expect to deliver constant currency revenue growth in line with current management expectations in 2022."
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