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Trustpilot Group PLC - Copenhagen-based online consumer reviews platform - Expects to report USD149 million in revenue for 2022, up 13% on USD131.4 million in 2021 and up 23% at constant currency. Annualised recurring revenue as of the end of the year is USD162 million, up 12% from USD144.5 million a year before, and total bookings are USD165 million, up 11% from USD149.6 million. Says adjusted earnings before interest, tax, depreciation and amortisation for 2022 will be ahead of the range of expectations, which it doesn't provide. In 2021, adjusted Ebitda was USD3.9 million, down from USD6.1 million in 2020. At the half-year stage of 2022, adjusted Ebitda was a loss of USD5.4 million, swung from a USD3.8 million profit a year before.
At the pretax level, Trustpilot is loss-making. It lost USD25.9 million in 2021, widened from USD12.3 million in 2020. Full 2022 results will be released on March 21.
"We are pleased with our performance in 2022, continue to make clear progress on our path to profitability, and the board remains confident in our strategy and the significant and growing long-term market opportunity," says Chief Executive Officer Peter Holten Muhlmann.
Current stock price: 104.80 pence, up 12% on Thursday morning in London
12-month change: down 62%
By Tom Waite, Alliance News editor
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