Trustpilot shares rose as much as 14% on Tuesday after the company forecast finishing this year ahead of market expectations following a record year for bookings growth.
The Danish-headquartered and London-listed online business review platform reported booking revenue grew by just under a quarter, reaching £239m for the year ended December 2024.
The group reported a post-tax profit of £4.8m for the year, down slightly from the £5.5m the previous year.
Off the back of its revenue bump in 2024, CEO Adrian Blair said the company expects constant currency revenue growth for the year to be in the “high teens” and “adjusted EBITDA slightly ahead of market expectations”.
Analysts predicted the company to finish 2025 with an adjusted EBITDA of $30m (£23m).
Though known to consumers primarily as a platform to rate businesses, Trustpilot’s revenue comes from premium services for companies on its platform including tools to manage reviews and customer feedback insights.
The past year has also seen the company seek to incorporate AI products into its offering. Last April, Trustpilot launched an AI-assisted tool to respond to reviews and review insights.
It has also looked to develop its internal AI capabilities to tackle fake and harmful reviews, with a generative AI system created last year to detect and flag suspicious posts.
“Looking forward, we will continue to deliver product innovation to embed trust across commerce, as trust becomes even more important in the age of AI,” said Blair.
The UK continued to be Trustpilot’s strongest market, with Britain representing 40% of its total booking revenue in 2024.
Trustpilot said it would continue to focus on its core markets of the UK, Germany and Italy, though it did see a 19% revenue bump in North America for the year.
Trustpilot shares were trading at £3.07 as of Tuesday morning, a 16% increase from its IPO price from March 2021, though more than 30% less than its peak price of £4.49 in September that same year.
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