Trustpilot Group Jumps on Strong H1 2025 Results

Trustpilot (LON:TRST) delivered a robust performance for the first half of 2025, exceeding expectations and sending its stock price more than 14% higher in early Tuesday trading.

Revenue climbed to $122.8 million, a 23% increase year-over-year (21% on a constant currency basis).

Bookings also saw significant growth, reaching $140 million, up 19% (17% constant currency). Adjusted EBITDA margin improved markedly, driven by operational efficiencies from AI implementation.

Trustpilot's Annual Recurring Revenue (ARR) surged to $273 million, a 29% increase, demonstrating the strength of its subscription-based business model. The Last Twelve Months (LTM) net dollar retention rate also increased to 103% from 101% the previous year.

The increase in active reviews on the platform, up 22% year-over-year to 330 million, underscores Trustpilot's growing influence in the online trust ecosystem. Similarly, LTM Trustbox impressions rose by 18% to 149 billion. Average Annual Contract Value (AACV) also increased to $9,781 up 19% (17% constant currency).

According to the company, Gemini AI overviews featuring Trustpilot have driven an 80% YoY increase in search
impressions.

CEO Adrian Blair stated, “Our H1 results demonstrate the momentum of our platform and the strength of our business model,” reinforcing the company’s strategic focus on building essential trust infrastructure.

He added: “The successful beta launch of our Trustlayer API illustrates the relevance of our unique customer feedback in entirely new sectors. As the importance of LLMs grows, high-quality human feedback is more important than ever, and we are building the essential trust infrastructure that will help underpin its success.”