Trustpilot Group PLC on Thursday said it expects revenue in the first half of 2022 to rise and kept its outlook unchanged.

The Copenhagen-based online review platform expects interim revenue to grow 18% to $73 million from $62 million a year ago. This growth represents a slowdown from a year ago, when interim sales jumped 31% from the $47.7 million achieved in the first half of 2020.

At constant currency, revenue in the first half of 2022 grew 25% year-on-year, beating the 22% increase reported a year ago.

Annual recurring revenue is expected to grow 11% to $149 million from $134 million. Total bookings are anticipated to rise 15% to $87 million from $75 million.

‘While noting the rapidly changing and uncertain macroeconomic environment, we continue to expect to deliver constant-currency revenue growth for 2022 in line with previous expectations and reiterate our outlook for adjusted earnings before interest, tax, depreciation and amortisation breakeven for 2024,’ the firm said.

Shares in Trustpilot fell 12% to 82.65 pence on Thursday morning in London.

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