Trustpilot | 1HFY24 trading statement - strong growth
Trustpilot has reported expected growth in bookings for 1H24 in constant currency terms (cc) of 19% to US$118m with similar growth rates in annual recurring revenue and reported revenue. What is likely to please the markets in particular, is the growth in bookings from North America which was 23% in cc terms and suggests that the revised go-to-market strategy is working while confirming that the Trustpilot proposition does indeed have traction in the huge US market. Current guidance of mid-teens cc revenue growth and margin improvement was maintained and Trustpilot looks on track to meet the current consensus for FY24 revenue of US$207m, given the growth in bookings and the typically stronger revenue performance in the second half, which would likely result in revenue growth in the upper teens.
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