"Truecaller said it will cut 70 jobs, or roughly 15% of its workforce, in the second quarter, as the company posted its Q1 2026 results with a decline in revenue and profits. Truecaller blamed real-money gaming in India, changes in advertising partner algorithms, and conflict in the Middle East for the slide."
""The year-on-year comparison looks especially weak given that Q1 and Q2 last year included a large contribution coming from the real money gaming sector in India in connection with the IPL season that takes place around this time. The situation in the Middle East also reduced our revenues from that region," Truecaller CEO Rishit Jhunjhunwala said during the earnings call."
"Truecaller's net sales dropped 27% to 362 million SEK ($39.34 million). In its biggest market, India, net sales dipped by 41% year-on-year. In addition, ad revenues declined by 44%. Truecaller also said that the revenue decline in the ad business was also due to a programmatic partner, identified as Google by an analyst earlier this year, changing its algorithms."
"There were only a few positives for the company this quarter. First, it crossed the mark of 500 million active users. Plus, its subscription revenue increased by 27%, representing 31% of net sales. The company has been adding features like AI Assistant and Family Protection to make its paid offerings more attrac"
Truecaller will cut 70 jobs, about 15% of its workforce, in the second quarter after posting Q1 2026 results with declining revenue and profits. Net sales fell 27% to 362 million SEK. India net sales dropped 41% year-on-year, and ad revenues declined 44%. The company attributed weakness to reduced real-money gaming activity in India, changes by an advertising partner’s algorithms, and conflict in the Middle East. Truecaller also faces competition from telecom-led identification services such as CNAP and a 5% year-on-year decline in downloads. Positives included reaching 500 million active users and a 27% increase in subscription revenue, which represented 31% of net sales.
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