Sweden-based caller ID firm Truecaller stated it should reduce 70 jobs, or roughly 15% of its workforce, within the second quarter, as the corporate posted its Q1 2026 outcomes with a decline in income and earnings. Truecaller blamed real-money gaming in India, modifications in promoting companion algorithms, and battle within the Center East for the slide.
As TechCrunch reported final month, the corporate is already going through challenges from India’s telecom-led options, resembling Calling Name Presentation (CNAP) identification service, and 5% year-on-year decline in downloads final yr.
In its Q1 2026 outcomes, Truecaller’s internet gross sales dropped 27% to 362 million SEK ($39.34 million). In its greatest market, India, internet gross sales dipped by 41% year-on-year. As well as, advert revenues declined by 44%.
“The year-on-year comparability appears particularly weak provided that Q1 and Q2 final yr included a big contribution coming from the actual cash gaming sector in India in reference to the IPL season that takes place round this time. The scenario within the Center East additionally decreased our revenues from that area,” Truecaller CEO Rishit Jhunjhunwala stated through the earnings name.
Final August, India banned real-money gaming apps resembling Dream 11 and MPL that allowed customers to make use of cash to play fantasy sports activities. Business our bodies estimated that the real-money gaming trade was value $23 billion in India. Due to this shutdown, platforms on which these real-money apps are marketed had been disadvantaged of that income.
Truecaller additionally stated that the income decline within the advert enterprise was additionally as a consequence of a programmatic companion, recognized as Google by an analyst earlier this yr, altering its algorithms.
There have been just a few positives for the corporate this quarter. First, it crossed the mark of 500 million lively customers. Plus, its subscription income elevated by 27%, representing 31% of internet gross sales. The corporate has been including options like AI Assistant and Household Safety to make its paid choices extra enticing.
Truecaller’s inventory has dipped by over 26% this yr and by over 79% within the final 12 months. Nonetheless, after the Q1 outcomes, it has seen some restoration.
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