Customer reviews platform operator Trustpilot Group (LON: TRST) is the best performing FTSE 250 index constituent after it revealed that bookings were 23% ahead in 2024. Revenues and EBITDA were ahead of consensus expectations. The share price jumped 16.2% to 319p.
Revenues were one-fifth higher at $211m (or 18% on a constant currency basis), while annual recurring revenues rose 17% (or 21% on a constant currency basis) to $231m at the end of the year. North America was the strongest market.
The focus has been B2B product innovation with new features launched and additional pricing packages.
There was cash of $69m at the end of 2024, after Trustpilot spent $43m on share buybacks. There is still around $9m of the share buyback programme to complete.
The 2024 results will be published on 18 March. Earnings of 3.59 cents/share were forecast for 2024, so that figure should be beaten. Even so, the estimated 2024 multiple is still likely to be more than 80.