Trustpilot H1 revenues grow as bookings improve

Trustpilot expects to report total interim revenues of $62.0m, a 22% increase year-on-year at constant currency levels, while annual recurring revenues were pegged to have improved 27% to $134.0m and total bookings 28% at $75.0m.

However, the FTSE 250-listed firm did acknowledge that much of the growth was due to the impact of the Covid-19 pandemic on its prior year comparative.

Chief executive Peter Holten Mühlmann said: "Trustpilot provides the 'trust layer' for the open commerce ecosystem, giving consumers the confidence to purchase goods and services online, while offering businesses the opportunity to establish trust and thrive.

"We are encouraged by the progress we have made in the first half of the year and the board remains confident in the strategy and outlook for the business."

As of 0900 BST, Trustpilot shares were down 0.85% at 331.76p.