CEO’s Comments at the 2026 Annual General Meeting
CEO reports record 2025 results with 18% bookings growth and upgrades medium-term margin targets to 25% by 2028.
- Bookings $291m
- Revenue $261m
- Adjusted EBITDA $40.7m
- Adjusted EBITDA margin 15.6%
- Active reviews 361m
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Trustpilot today releases the comments made by CEO Adrian Blair at the 2026 Annual General Meeting, held in London at 1pm today.
Good afternoon, I'm Adrian Blair, CEO of Trustpilot. A warm welcome to all of you.
2025 was another excellent year for Trustpilot - one that demonstrated why, as the world's largest open customer feedback platform, the role we play is becoming more important than ever in the age of AI.
Trustpilot helps people make choices and make themselves heard; and we help businesses build trust, grow and improve by engaging with customer feedback.
The rise of AI is increasing the value of that feedback - so Trustpilot is uniquely positioned to benefit. AI click-throughs to our platform grew nearly fifteen-fold year on year, and Trustpilot was ranked the fifth most cited domain globally on ChatGPT in January 2026. Businesses increasingly need Trustpilot to compete for visibility in the AI-powered digital landscape.
Strong execution delivered record financial results. Bookings grew 18 percent in constant currency to 291 million dollars. Revenue reached 261 million dollars. Adjusted EBITDA grew 69 percent to 40.7 million dollars, a margin of 15.6 percent, up over 4 percentage points year on year.
The consumer flywheel continues to power the business. Active reviews on the platform grew 20 percent to 361 million. More reviews were written on Trustpilot in 2025 than in the first twelve years of the company combined.
We also returned 71.6 million dollars to shareholders through our buyback programme, and announced a further 30 million dollar buyback with our results in March.
The momentum in the business, and tailwind of AI gives us immense confidence in the years ahead. We have upgraded our medium-term margin targets to 25 percent adjusted EBITDA by 2028, and 30 percent by 2030.
I would like to close by thanking Trusties around the world for their extraordinary commitment, and our shareholders for their continued support.
Thank you.
Notice of trading update
The Group will report its first half trading update on 16 July 2026.
Cleaned text: letterheads, contacts and legal notices removed. View the original announcement ↗ · Company filings. Not investment advice.