Sweden-based caller ID firm Truecaller mentioned it’s going to lower 70 jobs, or roughly 15% of its workforce, in the second quarter, as the firm posted its Q1 2026 outcomes with a decline in income and income. Truecaller blamed real-money gaming in India, adjustments in promoting companion algorithms, and battle in the Center East for the slide.
As TechCrunch reported final month, the firm is already going through challenges from India’s telecom-led options, reminiscent of Calling Name Presentation (CNAP) identification service, and 5% year-on-year decline in downloads final 12 months.
In its Q1 2026 outcomes, Truecaller’s web gross sales dropped 27% to 362 million SEK ($39.34 million). In its largest market, India, web gross sales dipped by 41% year-on-year. As well as, advert revenues declined by 44%.
“The year-on-year comparability appears to be like particularly weak provided that Q1 and Q2 final 12 months included a big contribution coming from the actual cash gaming sector in India in reference to the IPL season that takes place round this time. The state of affairs in the Center East additionally decreased our revenues from that area,” Truecaller CEO Rishit Jhunjhunwala mentioned throughout the earnings name.
Final August, India banned real-money gaming apps reminiscent of Dream 11 and MPL that allowed users to use money to play fantasy sports. Trade our bodies estimated that the real-money gaming trade was value $23 billion in India. Due to this shutdown, platforms on which these real-money apps are marketed had been disadvantaged of that income.
Truecaller additionally mentioned that the income decline in the advert enterprise was additionally due to a programmatic companion, identified as Google by an analyst earlier this year, altering its algorithms.
There have been only some positives for the firm this quarter. First, it crossed the mark of 500 million active users. Plus, its subscription income elevated by 27%, representing 31% of web gross sales. The corporate has been including options like AI Assistant and Family Protection to make its paid choices extra engaging.
Truecaller’s inventory has dipped by over 26% this 12 months and by over 79% in the final 12 months. Nevertheless, after the Q1 outcomes, it has seen some restoration.
While you buy by way of hyperlinks in our articles, we may earn a small commission. This doesn’t have an effect on our editorial independence.
Disclaimer: This article is sourced from external platforms. OverBeta has not independently verified the information. Readers are advised to verify details before relying on them.
