Truecaller slashes 70 jobs amid declining ad sales

Source: TechCrunch

Job Cuts

Sweden‑based caller ID company Truecaller announced it will cut 70 jobs—about 15% of its workforce—in the second quarter, following its Q1 2026 results that showed a decline in revenue and profits.

Financial Results

• Net sales fell 27% to 362 million SEK ($39.34 million).
• In India, its biggest market, net sales dropped 41% year‑on‑year.
• Advertising revenues declined by 44%.

Reasons for the Decline

Truecaller attributed the slide to several factors:

• Real‑money gaming restrictions in India – The ban on apps such as Dream 11 and MPL removed a significant revenue source that had boosted the previous year’s Q1 and Q2 results.
• Changes in advertising partner algorithms – A programmatic partner, identified by analysts as Google earlier this year, altered its algorithms, impacting ad revenue.
• Geopolitical tension – The conflict in the Middle East reduced revenues from that region.

TechCrunch reported that Truecaller also faces competition from India’s telecom‑led solutions, such as the Calling Name Presentation (CNAP) service, and experienced a 5% year‑on‑year decline in downloads last year.

Positive Highlights

• User base – The company surpassed 500 million active users.
• Subscription growth – Subscription revenue rose 27%, now representing 31% of net sales.
• New features – Recent additions include an AI Assistant (TechCrunch article) and Family Protection (TechCrunch article) to strengthen paid offerings.

Stock Performance

Truecaller’s stock has fallen over 26% this year and more than 79% over the past 12 months, though it showed some recovery after the Q1 results.