Sweden-based Truecaller has announced plans to cut 70 jobs, representing about 15% of its workforce. In Q1 2026, the company saw a 27% drop in net sales to 362 million SEK ($39.34 million). India's decline was particularly sharp with a 41% year-on-year drop.
The CEO attributed the fall to various factors, including the Indian government’s ban on real-money gaming apps like Dream 11 and MPL, which led to a dip in ad revenues. Additionally, changes in advertising partner algorithms, notably those by Google, further impacted Truecaller's finances.
In positive news, Truecaller crossed its milestone of 500 million active users and saw an increase in subscription revenue by 27%, making up 31% of net sales. The company has been enhancing its offerings with features such as AI Assistant and Family Protection to attract more subscribers.
This development comes after the stock had fallen by over 26% this year, and a whopping 79% in the last twelve months. Truecaller’s Q1 results show that while the market may be volatile, there is still room for growth through strategic enhancements.
