Trustpilot FY revenues grow as ARR and bookings improve
By Iain Gilbert
Date: Wednesday 12 Jan 2022
(Sharecast News) - Review platform operator Trustpilot said on Wednesday that full-year revenues had grown in 2021 thanks to an increase in both annual recurring revenue and bookings.
Trustpilot stated total revenues were up 29% to $131.0m in the year ended 31 December, with annual recurring revenues growing 26% at constant currency to $144.0m and total bookings increased 32% to $150.0m.
The FTSE 250-listed firm added that it will report full-year earnings on 22 March.
Chief executive Peter Holten Mühlmann said: "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."
As of 0845 GMT, Trustpilot shares were up 4.59% at 291.60p.
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