Trustpilot - Strong FY22 results, positive guidance; CEO transition
Following the positive trading update published in January, Trustpilot reported a near halving of the EBITDA deficit YoY to $8.6m for the year to December 2022. Adjusted EBITDA was a $(4.4)m loss although the company generated positive Adjusted EBITDA in 2H22 of $1m. Reported financials were negatively impacted by the strength of the dollar but operating metrics were strong, as previously disclosed. Management expects to move to adjusted EBITDA profitability and positive adjusted free cash flow in FY23 as cautious revenue guidance is expected to be more than offset by margin expansion and operating leverage, reflecting the investment Trustpilot has made and the power of its brand and business model. Peter Holten Mühlmann, Trustpilot founder and CEO has decided to transition to the role of founder and non-executive director but will remain as CEO until a successor has been identified and appointed. Mr Mühlmann expects to remain closely engaged with the company as an evangelist and brand ambassador. Trustpilot comfortably bettered consensus expectations for Adjusted EBITDA. Although the intention of Mr Mühlmann to step back as CEO was a surprise, this strong set of results and positive guidance demonstrate the firm foundation for growth Trustpilot has established under his leadership.
Capital Access Group advises companies on effective engagement with investors. Our experienced team offers market-leading access with hard-to-reach investors, including smaller institutions, pension funds and private client fund managers. These under-serviced investors are located not only in London but across the regions of the UK and Europe. We have an unrivalled knowledge of this extensive audience, to whom our published research is distributed, as well as to larger institutions. We offer this service as part of an integrated investor communications strategy to promote a company’s investment story.
Our clients, ranging from AIM to FTSE 100 companies, benefit from our professional, long-term relationships with investors. Not only do we identify and target investors, we contact them directly and relay their views back to clients with analysis, interpretation and advice. This ensures that our clients are in control of their investor engagement. The objective is to improve the reach and engagement with investors, which in turn strengthens the share price.
Unfortunately, this report is not available for the investor type or country you selected.
Browse all ResearchPool reportsReport is subscription only.
Thank you, your report is ready.
Thank you, your report is ready.