Trustpilot CEO virtual fireside discussion - key takeaways: AI search tailwind, US enterprise momentum and margin pathway in focus

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Trustpilot CEO virtual fireside discussion - key takeaways: AI search tailwind, US enterprise momentum and margin pathway in focus

process. The trust team uses a wide range

of metadata and has decades of historical data to identify suspicious patterns. The CEO

argued that AI is helping Trustpilot more than it is helping bad actors, improving the

company’s ability to detect and remove fake reviews at scale.

• Margin targets underpinned by high gross margins, operating leverage and

AI: Management reiterated confidence in reaching 25% adj. EBITDA margin by 2028

and 30% by 2030. Key drivers include an 83% gross margin, expected operating leverage

in G&A, likely further leverage in GTM over time, and AI-enabled efficiencies across the

business. Management avoided being overly prescriptive on the exact mix of leverage

between technology and GTM, but argued that the targets are credible given the margin

progress already delivered.

• Incoming CFO brings subscription and data experience: Marcus Roy will join as

CFO in September. Management described him as an experienced operational CFO with

relevant subscription business experience and exposure to data-led models, including his

prior role as CFO of The Economist. CEO Adrian Blair noted that Mr. Roy has already

spent meaningful time with him and the wider team.

• Priorities for the next 3–5 years: Management identified AI as the most important

strategic opportunity, both as a demand generation driver and as an internal productivity

lever. The second priority is continuing to evolve the GTM organization towards best-in-

class enterprise execution. The third is geographic expansion, with the US at the center

of the long-term opportunity. Underpinning all of this remains trust itself, which