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Truecaller’s Q1FY2024 result showcases improved earnings and robust profitability with increased investments

Truecaller, the leading global platform for verifying contacts and blocking unwanted communication, has reported an adjusted EBITDA of SEK 151 million, and an EBITDA margin of 35.4 percent in the first quarter of 2024.

Q1 2024 impact on the Indian market

  • Net sales in India increased by 8 percent, reaching SEK 316.8 million in the first quarter, compared to SEK 292.2 million in the corresponding quarter of the previous year.
  • The average number of active users (MAU) increased by 39 million to approximately 383.4 million monthly active users, out of which 272.6 million monthly active users are in India alone.
  • The daily active users (DAU) grew by 36 million in 2024, reaching an average of 314 million during the quarter, out of which 234.4 million daily active users are based in India.
  • India continues to remain one of the biggest markets for Truecaller as the region accounted for 74.2% 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 (TfB) increased by 44 percent to SEK 49.6 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 significant 5% surge in global ad revenue compared to the first quarter of 2023, largely driven by the heightened demand for digital advertising coinciding with the Indian Premier League (IPL).
  • In the quarter, Truecaller launched its Call Recording feature in the Indian market, which enables users to record and transcribe all calls, in English and Hindi. The new addition provides users with the ability to record incoming and outgoing calls directly within the Truecaller app. The product is now available across India on Android as well as on iOS.


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