Trustpilot shares slide despite solid first-half trading

(Sharecast News) - Trustpilot shares were in the red on Thursday even after reported strong first-half trading, with bookings rising 22% year on year to $171m, or 18% at constant currency, driven by continued momentum in Enterprise customers and the US market. North America bookings increased 27% on a constant currency basis, while UK bookings rose 11% and Europe and the rest of world bookings grew 19%.

Annual recurring revenue increased 17% to $313m, while revenue is expected to rise 19% on a constant currency basis.

The FTSE 250 company said Enterprise ARR from customers spending more than $20,000 increased 36%, supported by demand for its AI Answer Engine Optimisation offering as businesses seek greater visibility in AI-driven commerce.

Trustpilot maintained its full-year guidance for high-teens constant currency revenue growth and a 2 to 3 percentage point year-on-year improvement in adjusted EBITDA margin, despite net cash falling to $21.9m after $42.5m of share buybacks and employee benefit trust purchases.

At 0935 BST, shares in Trustpilot Group were down 9.15% at 264.2p.

Reporting by Josh White for Sharecast.com.

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