- Revenue up 18% year-on-year
- Total cumulative reviews up 25% to 267 million
- Share buyback of circa $25 million started in January
Shares in Trustpilot (TRST) were up over 5% in morning trading to 216p as the global review platform reported a strong set of full year results.
Revenue for the year ending 31 December 2023 was up 18% to $176 million compared to $149 million in the same year ago period.
Over the past year Trustpilot shares have gained 130%.
Monthly unique users on the Trustpilot platform were up 30% to over 57 million and total cumulative reviews were up 25% to 267 million with 54 million new reviews.
Bookings for the FTSE 250 company were also up by 18% year-on-year to $195 million.
The company said: ‘The bookings growth we achieved in 2023 and the ongoing momentum in the business underpins our confidence in continuing to deliver mid-teens constant currency revenue growth, and we also expect to achieve further operating leverage in the current financial year.’
Back in January the company announced a $25 million share buyback programme and upgraded profit guidance, so today’s results come as no surprise to investors.
