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Truecaller Cuts 15% Workforce After Q1 Losses
8 May
Summary
- Truecaller will eliminate 70 jobs, 15% of its staff, in the second quarter.
- Revenue and profits declined significantly due to India's gaming ban and regional conflict.
- Active users surpassed 500 million, while subscription revenue saw a 27% increase.
Sweden-based Truecaller announced significant workforce reductions, cutting 70 jobs, about 15% of its staff, in the second quarter of 2026. This decision follows a reported decline in both revenue and profits for the company.
The financial downturn was attributed to several factors, including changes in advertising partner algorithms and the ongoing conflict in the Middle East. Notably, India's ban on real-money gaming apps, which significantly impacted advertising revenue, was a major contributor. Truecaller's net sales dropped by 27% to 362 million SEK, with India, its largest market, experiencing a 41% decrease in net sales.
Despite the setbacks, Truecaller achieved a milestone by crossing 500 million active users. The company also saw a positive trend in its subscription services, with revenue increasing by 27% and now comprising 31% of its total net sales. Efforts to enhance paid offerings include the introduction of features like AI Assistant and Family Protection.
