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Trustpilot Group PLC on Tuesday announced a new share buyback as annual earnings beat expectations, supported by rising volume from artificial intelligence searches. The Copenhagen, Denmark-based consumer review platform reported pretax profit of $14.1 million in 2025, almost tripled from $5.2 million a year earlier. Revenue climbed 24% to $261.1 million from $210.7 million, or 20% at constant currency, driven by strong retention and the compounding effect of bookings. Bookings increased 22% to $291.4 million from $239.0 million, or 18% at constant currency, with momentum accelerating in the second half of 2025 particularly across Enterprise and North America. Adjusted earnings before interest, tax, depreciation and amortisation advanced 69% to $40.7 million from $24.1 million, ahead of $38.5 million consensus, with the margin up to 15.6% from 11.4%. Trustpilot said profitability was ahead of expectations demonstrating ‘continued operating leverage and Enterprise customer growth alongside investment in the product.’ In January, Trustpilot forecast adjusted Ebitda would be ahead of market expectations at the time of $37 million. In response, shares in Trustpilot soared 19% to 210.40 pence each in London on Tuesday morning. Shares in Trustpilot were knocked at the back end of 2025 after short-seller Grizzly Research LLC accused the company of ‘mafia-style extortion campaigns against non-paying businesses’ and a ‘concerning pattern of apparently falsified reviews’. On Tuesday, Trustpilot said adjusted free cash flow ballooned to $46.6 million from $17.1 million driven by growing profitability and improved working capital with operating cash flow doubled. Diluted earnings per share grew 57% to 4.8 US cents from 3.1 cents. Trustpilot said it has seen a ‘dramatic’ rise in large language models exposure, with click-throughs from AI search up 1490% year-on-year. The firm reported a 35% increase in the number of customers paying over $20,000 per year, with reviews on the platform up 20%. Looking ahead, Trustpilot said it expects its revenue to grow a ‘high-teen’ percentage at constant currency in 2026, ‘reflecting strong 2025 bookings’ with a two to three percentage point improvement in the adjusted Ebitda margin. In the mid-term, Trustpilot continues to expect to deliver at least mid-teens revenue growth each year and expects to reach 25% Ebitda margins in 2028 and 30% in 2030. ‘We enter the new financial year with clear strategic momentum and continued confidence in our growth roadmap,’ said Chief Executive Officer Adrian Blair. In addition, Trustpilot said it will start a £22.5 million share buyback programme, to be run by Deutsche Bank AG, after the completion of the 2025 buyback programme. The company also said it is at an advanced stage in recruiting a successor for Chief Financial Officer Hanno Damm. Copyright 2026 Alliance News Ltd. All Rights Reserved.
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