Trustpilot, the popular business-review website, projects that its core earnings for 2023 will surpass market expectations. This is attributed to its impressive double-digit revenue growth throughout the year. In addition, the company has announced a share buyback of £20 million ($25.5 million).
For the fiscal year ending on December 31, Trustpilot anticipates reporting a total revenue of $176 million, reflecting a 17% increase compared to the previous year at constant currency rates. The annual recurring revenue is expected to rise by 18% to $197 million, while total bookings are projected to have grown by 16% to $195 million.
Trustpilot’s adjusted earnings before interest, taxes, depreciation, and amortization are set to exceed the higher end of the market range. The company’s internally compiled analyst consensus places this figure between $11.1 million and $14.1 million.
“We have achieved strong growth in new business and maintained a high retention rate across all regions,” stated Chief Executive Adrian Blair. He further emphasized Trustpilot’s confidence in enhancing margins in the long run.
