Trustpilot Surges as FY25 Bookings Set to Rise 18%

Trustpilot (LON: TRST) shares jumped 8.3% to 203.8p on Tuesday morning after the company said it expects to report an 18% increase in constant-currency bookings for 2025, alongside adjusted EBITDA that is projected to come in ahead of market expectations.

In a trading update, the online reviews platform said bookings for the year are expected to reach $291 million, up 22% on a reported basis. Growth was broad-based, with UK bookings rising 16% at constant currency to $116 million, Europe and the rest of the world up 20% to $113 million, and North America up 21% to $62 million.

Annual recurring revenue is set to climb 19% at constant currency to $296 million, while revenue is expected to grow 20% on the same basis to $261 million. Trustpilot said momentum strengthened in the second half, driven by new business wins and strong demand from enterprise customers. The company also cited the growing importance of its platform in AI answer-engine optimisation.

Cash at year-end stood at $48 million, reflecting the completion of $72 million in share buybacks. Given its “strong cash position,” Trustpilot said it intends to extend the programme by up to £10 million.

The company removed 7.8 million fake reviews during the year following the rollout of AI-enabled fraud-detection technology.

CEO Adrian Blair said 2025 delivered “excellent strategic and financial progress,” adding that product innovation and improved retention position the group well for 2026.

Trustpilot also said it does not expect an Italian regulatory process relating to alleged consumer-code breaches to have a material impact on operations.