Truecaller, the leading global platform for verifying contacts and blocking unwanted communication, has reported an adjusted EBITDA of SEK 164.7m, and an EBITDA margin of 36.1 percent in the second quarter of 2024.
Q2 2024 impact on the Indian market:
· Net sales decreased by 19 percent in India, reaching SEK 333.6 in the second quarter, compared to SEK 316.8 million in the first quarter of 2024.
· The average number of active users increased by 14 million to approximately 400 million monthly active users from the previous quarter, out of which 282.1 million monthly active users are in India alone.
· The daily active users grew by 10.9 million in Q2 2024, reaching an average of 324.9 million during the quarter, out of which 241.8 million daily active users are based in India.
· India continues to remain one of the biggest markets for Truecaller as the region accounted for 73.6% of the total net sales of Truecaller, owing to all three revenue streams – Truecaller for Business, Premium subscriptions and Ads
· Revenue from Truecaller for Business increased by 41 percent to SEK 107.2 million. The demand for these services is still very high in India, and the number of connected customers continues to show good growth in the country. Truecaller for Business now has active customers in 37 countries.
· During the quarter, Truecaller experienced a 22% decrease in ad revenues, totaling SEK 332.3 million, compared to the same period last year. This decline was primarily attributed to reduced revenues from the Indian Premier League , amounting to approximately SEK 60 million in 2024, down from SEK 120 million during the same period in 2023.
· During the quarter, Truecaller enhanced AI-driven spam and fraud detection, introduced live lookup capabilities with iOS 18, and saw a 30% increase in subscription revenue. Ads monetization strengthened with more programmatic partners and robust iOS growth. Truecaller for Business achieved record revenue and customer acquisitions with new packaging, pricing strategies, and strong reseller partnerships.