Trustpilot Shares Drop After Mixed First-Half Results
Trustpilot reported strong first-half revenue growth and adjusted EBITDA performance in the six months ending June, but its shares fell as much as 20% due to a surprise statutory loss driven by one-off charges. Revenue rose 23% year-over-year to $151.4 million while bookings increased 22%. Adjusted EBITDA climbed 46%, reaching a record $26.3 million, though it missed the consensus estimate of $27 million. The statutory loss was attributed to non-recurring items totaling around $6 million, including an Italian competition authority fine and U.S. sales tax provisions. Trustpilot maintained its full-year guidance despite these issues, but investors had already priced in significant optimism about AI integration and growth potential. The company's decision not to raise expectations led to a sharp market reaction. Trustpilot is transitioning from rapid-growth losses toward sustainable profitability with an expanding EBITDA margin and strong subscription-based visibility into future revenue.
Tickers: $NVDA
Topics: financial performance guidance losses