Trustpilot Group (TRST) Trading Update summary

Financial performance and growth

• Bookings for H1 2024 expected at $118m, up 20% year-on-year and 19% at constant currency, driven by momentum in focus markets and improved retention.

• Annual recurring revenue projected at $211m, a 17% increase year-on-year (18% at constant currency).

• Revenue for H1 2024 expected to reach $100m, up 18% year-on-year (17% at constant currency).

• Net cash position at $76m after completing a £20m share buyback in H1 2024.

Regional performance and retention

• UK bookings grew 19% at constant currency; Europe & ROW up 16%; North America up 23%.

• Last twelve months net dollar retention rate increased to 101%, up from 99% a year ago.

Strategic and operational highlights

• Completed shareholder and court-approved capital reduction, enabling future share buybacks.

• Released new AI-driven product features in April, providing businesses with insights into customer behavior and market dynamics.