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Trustpilot Group (TRST) investor relations material
Trustpilot Group H1 2026 TU earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Executive summary
Bookings grew 22% year-over-year (18% at constant currency) to $171m for H1 2026, driven by strong Enterprise and US performance.
Revenue expected to reach $151m, up 23% year-over-year (19% at constant currency).
Enterprise ARR from customers paying $20k+ increased 36% year-over-year, supported by AI Answer Engine Optimisation.
Positioned as the leading global review platform, with significant AI-driven demand and increased ChatGPT integration.
Financial highlights
Bookings: $171m (H1 25: $140m), up 22% YoY (18% cc); North America +27% cc, UK +11% cc, Europe & ROW +19% cc.
Annual recurring revenue: $313m, up 15% YoY (17% cc).
Gross retention rate at 87% (H1 25: 86%), net dollar retention at 101% (H1 25: 103%).
Period-end net cash: $21.9m after $42.5m in share buybacks and EBT purchases.
Outlook and guidance
On track to deliver full-year guidance of high-teens constant currency revenue growth and adjusted EBITDA margin improvement of 2-3 percentage points year-over-year.
Analyst consensus (as of July 2026): 17.1% constant currency revenue growth, adjusted EBITDA of $55.6m, and 18.0% adjusted EBITDA margin.
- Revenue up 23% and adjusted EBITDA up 70%, with strong cash flow and new $40M buyback.TRST
H1 20258 Jul 2026 - Bookings up 18%, adjusted EBITDA up 69%, and margin targets raised to 30% by 2030.TRST
H2 202517 Mar 2026 - Bookings up 19%, adjusted EBITDA margin at 10.6%, and net profit reached $7.7M.TRST
H1 202421 Jan 2026 - Bookings and revenue surged, EBITDA beat expectations, and share buybacks expanded.TRST
Q4 2025 TU13 Jan 2026 - Bookings up 21%, net dollar retention at 103%, and adjusted EBITDA up 55% in 2024.TRST
H2 202424 Dec 2025 - Bookings, revenue, and ARR all saw double-digit growth, with margin guidance upgraded.TRST
H1 2025 TU15 Jul 2025 - Bookings and revenue surged, with robust growth and improved retention across key markets.TRST
Trading Update13 Jun 2025 - Trustpilot achieved 21% bookings growth and expects EBITDA above consensus for FY24.TRST
Trading Update9 Jun 2025
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