On 12th January Trustpilot released a brief trading update for the year to 31st December 2022, which showed 20% growth in annual recurring revenue and 100% net dollar retention – as well as adjusted EBITDA that came in ahead of consensus and zero cash burn in H2. This is impressive and demonstrates resilience in the face of uncertainty and the imminence of breakeven adjusted EBITDA and cash flow. It was well received by the market, and deservedly so.
