Trustpilot has emerged as an early beneficiary of the shift towards artificial intelligence-led search, reporting a sharp rise in profits and a surge in its share price after a year of strong growth driven by increased exposure through large language models.
Shares in the consumer review platform jumped as much as 28 per cent following results that beat market expectations, as investors responded positively to signs that the business is successfully adapting to the changing dynamics of online discovery. The company posted pre-tax profits of $14.1 million for the year to December, up significantly from $5.2 million the previous year, underpinned by stronger customer retention and a shift towards higher-value contracts.
Revenue rose 24 per cent year-on-year, with growth recorded across the UK, Europe and the United States. Trustpilot also reported a 16 per cent increase in average annual contract value, reflecting its success in moving upmarket and monetising its platform more effectively.
Central to that performance has been the company’s growing visibility within AI-powered search environments. Trustpilot said click-throughs from AI-driven platforms increased more than fifteenfold over the past year, highlighting how rapidly consumer behaviour is shifting away from traditional search engines towards conversational interfaces powered by large language models.
The company has actively opened its data to these platforms, allowing its reviews to be surfaced within AI-generated answers. According to Promptwatch data, Trustpilot ranked as the fifth most cited domain globally on ChatGPT in January, a position that has significantly enhanced its reach and relevance.
Chief executive Adrian Blair described artificial intelligence as a “major tailwind” for the business, noting that visibility within AI search has become a key selling point when engaging with clients. As businesses increasingly focus on how they appear within AI-generated responses, Trustpilot’s repository of verified consumer feedback has become a valuable asset in the emerging search ecosystem.
Analysts suggested the results offer an early indication that the transition from traditional search to AI-led discovery could create new winners, particularly for platforms built around user-generated content. Investec analysts noted that Trustpilot’s performance demonstrates how this shift could benefit businesses whose data is highly relevant to AI-driven queries.
Alongside its earnings growth, Trustpilot announced a £30 million share buyback programme, including £7.5 million allocated to its employee benefit trust, signalling confidence in its financial position and long-term prospects. The company also upgraded its medium-term profitability targets, forecasting that its adjusted EBITDA margin will rise from 15.6 per cent in 2025 to 25 per cent by 2028 and 30 per cent by 2030.
The strong results mark a rebound after a turbulent period for the company’s share price. In December, Trustpilot faced scrutiny following claims by short-seller Grizzly Research alleging questionable practices in its dealings with non-paying customers. The company strongly denied the allegations and issued a detailed rebuttal, helping to stabilise investor sentiment after an initial sell-off.
The stock was also caught in a broader downturn affecting software companies earlier this year, but the latest results suggest Trustpilot may be structurally better positioned than many peers in an AI-driven market.
Blair emphasised that the company’s core proposition remains fundamentally distinct from other technology businesses. While AI can aggregate and present information, he argued, it cannot replicate the real-world customer experiences that underpin Trustpilot’s platform.
As artificial intelligence continues to reshape how consumers search, discover and evaluate brands, Trustpilot’s ability to embed itself within that ecosystem appears to be driving both immediate performance gains and longer-term strategic value.
