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(Alliance News) - Trustpilot Group PLC on Wednesday said it is on-track to report a double digit rise in revenue for 2021, marking an "excellent financial result" for the company.
Shares in the Copenhagen-based online review platform were 6.2% higher at 296.20 pence on Wednesday morning in London, the best performer in the FTSE 250.
For the year, the company expects to report USD131 million in revenue, a 29% rise from USD102 million the year before. On a constant currency basis, revenue grew 24% year-on-year.
Trustpilot expects annual recurring revenue to increase 22% to USD144 million from USD119 million, while bookings are seen up 32% year-on-year to USD150 million from USD113 million.
"We are very encouraged by this excellent financial result, with revenue ahead of expectations and strong growth in bookings and ARR. Over the past twelve months, we have continued to make strong progress against our strategic ambitions for Trustpilot to be the most trusted and most used global consumer reviews platform," said Chief Executive Officer Peter Holten Muhlmann.
Trustpilot will publish its annual results on March 22.
By Dayo Laniyan; dayolaniyan@alliancenews.com
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