Interim report January-June 2026
Truecaller, the leading global platform for safe and trusted communication, report a decrease in net sales with 21% to SEK 393.2 million (496.4), the decrease in constant currencies was 14%.
In constant currencies subscription revenues grew with 41%, revenues from Truecaller for Business increased with 8% while revenue from ads declined with 34%. Truecallers recurring revenues grew 26% year-over year in constant currencies and now accounts for 49% (33%) of total net sales.
EBITDA excluding incentive costs decreased with 50% and the EBITDA margin was 26.9% (42.6%), in constant currencies the decrease was approximately 44%. Excluding one-off restructuring cost of SEK 23.5 million EBITDA decreased with 39% and the margin was 32.9%.
EBITDA including costs for incentive programs decreased by 49% to SEK 88 million (173) and the margin was 22.4% (34.8%), in constant currencies the decrease was approximately 42%.
During the quarter average number of monthly active users grew with 8 million.
April-June 2026 (Q2)
Comparative figures refer to April-June 2025
●Net sales decreased by 21 percent to SEK 393.2 million (496.4). Net sales in constant currencies decreased by approximately 14 percent.
●EBITDA excluding the costs of incentive programsdecreased by 50 percent to SEK 105.8 million (211.6) equivalent to an EBITDA-margin of 26.9 (42.6) percent. In constant currencies the EBITDA decrease was approximately 44 percent. Excluding one-off restructuring cost of SEK 23.5 million EBITDA decreased with 39% and the margin was 32.9%.
●EBITDA including the costs of incentive programs decreased by 49 percent to 87,9 (172.8), corresponding to an EBITDA-margin of 22.4 (34.8) percent. In constant currencies the EBITDA decrease was approximately 42 percent.
●Profit after taxamounted to SEK 51.7 million (118.0).
●Basic earnings per share were SEK 0.16 (0.34) and diluted earnings per share were SEK 0.16 (0.34)
●The average number of active users excluding iOS(MAU) increased by 44.4 million to 471.0 million (426.6).
January-June 2026
Comparative figures refer to January-June 2025
●Net sales decreased by 24 percent to SEK 754.8 million (993.3). Net sales in constant currencies decreased by approximately 15 percent.
●EBITDA excluding the costs of incentive programs decreased by 49 percent to SEK 209.0 million (410.2) equivalent to an EBITDA-margin of 27.7 (41.3) percent. In constant currencies the EBITDA decrease was approximately 40 percent.
●EBITDA including the costs of incentive programs decreased by 53 percent amounted to 152.3 (321.8), corresponding to an EBITDA-margin of 20.2 (32.4) percent. In constant currencies the EBITDA decrease was approximately 42 percent.
●Profit after taxamounted to SEK 84.1 million (219.7).
●Basic earnings per share were SEK 0.25 (0.64) and diluted earnings per share were SEK 0.25 (0.64).
●The average number of active users excluding iOS(MAU) increased by 44.7 million to 405.9 million (361.2).
CEO Word:
This quarter marked an important step forward for Truecaller. While our year-over-year comparisons continue to reflect the challenges we have been navigating over the past several quarters, we saw sequential improvements across all our revenue streams, supported by the strategic initiatives implemented during the recent quarters.
Our advertising business showed encouraging signs of improvement during the quarter. Advertising revenues increased by 6% compared to Q1, a decline of 34% year-over-year in constant currencies. Towards the end of the quarter, we saw a positive impact from the removal of the flagging by our largest demand partner. As a consequence of this, the daily average revenue from the partner increased by approximately 10-15% compared to the quarterly average and has been stable at that level also in the beginning of the third quarter. While the full impact will be visible over time, this provides positive momentum as we continue to execute on our long-term strategy to build a more diversified and resilient advertising business.
We continue to make progress on the rollout of the unified, auction-based monetisation infrastructure which is our longer-term ambition. We believe that increased competition for our inventory through programmatic, partner and direct sales channels will yield the results we strive for. At the same time, our Direct Ad Sales business continues to develop positively, with stronger customer relationships and a broader market approach contributing to improved performance.
Premium continued to be one of our strongest revenue growth drivers. Premium revenues grew 41% year-over-year in constant currencies and increased by 6% compared to Q1, driven by continued user conversion, stable monetisation and increasing appreciation of our Premium product.That business continues to demonstrate the attractiveness of our subscription offering, and we remain confident in the significant long-term opportunity as only a small share of our global user base currently uses Premium.
Within Truecaller for Business, we saw an improvement during the quarter, with revenues growing 8% year-over-year in constant currencies and 24% compared to Q1. The improvement compared to Q1 was driven by positive developments across both Verified Business and Business Messaging. After a weak new sales at the end of 2025, Verified Business has again shown stronger sales, while Business Messaging benefited as new partners started to scale up their volumes and our long-standing earlier exclusive partner returned as a non-exclusive partner during the end of the quarter. This demonstrates the value of Truecaller platform for business to consumer messaging. Our broader multi-partner strategy is creating a stronger foundation for future growth and increased diversification.
As a result of the continued growth in recurring revenue streams, our revenue mix continues to improve. Recurring revenues grew by 23% year-over-year in constant currencies and represented almost half (49%) of our total revenues during the quarter. This development reflects our long-term strategy of building a more predictable and diversified revenue base.
User growth remained healthy, with 8 million additional users added during the quarter. We continue to see strong global demand for Truecaller’s core offering, and our focus remains on expanding access to our services while maintaining a disciplined approach to user acquisition. With hundreds of millions of people relying on Truecaller everyday, our large global user base continues to be the foundation for future growth across our different revenue streams.
During the quarter, we also took an important strategic step by entering a new yet adjacent product category with the launch of travel eSIMs. This is Truecaller’s first step into mobile services and the first time we are offering digital consumer products beyond Caller ID and spam protection. We are encouraged by this launch and expect to bring more digital products and services to our massive user base.
The cost efficiency initiatives initiated during the first half of the year are also starting to have an impact. They create a leaner and more focused organisation, allowing us to remain disciplined while continuing to invest in the areas with the highest long-term potential. Following the organisational changes implemented during the second quarter, our cost base has also come down materially.
Net sales amounted to SEK 393 million, a decrease of 14% year-over-year in constant currencies, but an improvement of 9% compared to Q1. EBITDA declined by 42% year-over-year, impacted by the ongoing revenue transition, but profitability improved compared to the first quarter. Excluding restructuring costs, EBITDA margin was 26%, demonstrating the positive impact from both improved revenue trends and our efficiency initiatives.
Looking ahead, we enter the second half of the year with improving momentum across all our revenue streams. The transformation journey we discussed earlier in the year continues and we are now seeing some of the strategic decisions made over the past quarters are starting to yield results. With continued Premium growth, improving advertising monetisation, a stronger Truecaller for Business foundation, a leaner organisation and new opportunities emerging from product expansion, we are well positioned to create sustainable and profitable growth over time.
The entire team remains focused on using this positive momentum to execute on our strategy. We have more work ahead of us, but we are encouraged by the progress made during the quarter and confident in the direction we are heading, says Rishit Jhunjhunwala CEO of Truecaller.
Presentation of the report
Rishit Jhunjhunwala, CEO and Odd Bolin, CFO presents the report and answers questions in a webcast and conference call on the 17th of July at 13.00 CEST. The presentation will be held in English.
If you wish to participate via webcast please use the link below.
https://truecaller.events.inderes.com/q2-report-2026
If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://events.inderes.com/truecaller/q2-report-2026/dial-in
For more information, please contact:
Andreas Frid, Head of IR & Communication
+46705 29 08 00
andreas.frid@truecaller.com
This information is information that Truecaller is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, at the time stated by the Company’s news distributor, Cision, at the publication of this press release.
About Truecaller:
Truecaller (TRUE B) is the leading global platform for safe and trusted communication. Fraud and unwanted communication are endemic to digital economies. especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 500 million active users. Truecaller is listed on Nasdaq Stockholm since 8 October 2021. For more information please visit corporate.truecaller.com
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