REG - Trustpilot Group PLC - CEO’s Comments at the 2025 Annual General Meeting

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21/05/2025 13:00

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RNS Number : 4791J  Trustpilot Group PLC  21 May 2025

Trustpilot Group plc


21 May 2025

CEO’s Comments at the 2025 Annual General Meeting

Trustpilot today releases the comments made by CEO Adrian Blair at the 2025
Annual General Meeting, held in London at 1pm today.

 

Good afternoon, I'm Adrian Blair, CEO of Trustpilot. Welcome to everyone
joining us for this year's AGM.

 

2024 was an excellent year for Trustpilot. As the world's largest independent
customer feedback platform, we help people make choices and make themselves
heard; and we help businesses build trust, grow and improve by engaging with
authentic feedback.

 

Our SaaS business model is supported by product innovation driving an upgrade
cycle.  In 2024, we introduced new products which were well received and
underpinned significant improvement in net dollar retention from 99% to 103% -
a record for the business.

 

As a result, bookings grew 21% in constant currency, with strong growth in our
focus markets of the UK, US, Germany and Italy.

 

On the other side of the flywheel, consumer adoption continues to grow. Active
reviews on the platform increased 23% to over 300 million.

 

Strong execution of the strategy resulted in improved profitability. Adjusted
EBITDA margin increased 260 basis points to 11.4%, allowing us to deliver a
55% increase in adjusted EBITDA, to $24.1 million.

 

There is still plenty to do, as we capitalise on the powerful network effects
inherent in our model. In 2025 we will double down on trust in the age of AI;
drive more product innovation to fuel the growth flywheel; and continue to
improve profitability.

 

I'm also delighted to share that we recently reached a number of significant
milestones. The UK business reached $100 million in annual recurring revenue
(ARR), North America reached $50 million, and Europe and rest of world also
reached $100 million. In total this means we've reached a quarter of a billion
dollars in annual recurring revenue as a group. This is a huge achievement for
the business.

 

I'd like to close by thanking all our Trusties for the commitment to our
success and to all our shareholders for their ongoing support.

 

Thank you.

 

 

Notice of trading update

The Group will report its first half trading update on 15 July 2025.

 

Contacts

 

 Trustpilot Group plc                        Headland Consultancy

 Louise Bryant, Head of Investor Relations   Stephen Malthouse / Rob Walker / Charlie Pepper

 investor.relations@trustpilot.com           trustpilot@headlandconsultancy.com

 +44 (0) 7813 210 809                        Tel: +44 (0) 20 3805 4822

 

About Trustpilot

 

Trustpilot began in 2007 with a simple yet powerful idea that is more relevant
today than ever - to be the

universal symbol of trust, bringing consumers and businesses together through
reviews. Trustpilot is

open, independent, and impartial - we help consumers make the right choices
and businesses to build

trust, grow and improve.

 

Today, we have more than 300 million reviews and 64 million monthly active
users across the globe, with

140 billion annual Trustbox impressions, and the numbers keep growing. We have
more than 980

employees and we're headquartered in Copenhagen, with operations in Amsterdam,
Denver, Edinburgh,

Hamburg, London, Melbourne, Milan and New York.

 

 

 

 

 

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