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Tag: truecaller

  • Truecaller Q2 FY25: Net Sales Up 9%, MAUs Hit 426 Million

    Truecaller, the leading global communications platform, today announced its interim financial results for the first half of fiscal year 2025 (January-June 2025). The report highlights continued robust performance across its key revenue streams and a growing user base, with India remaining a significant contributor to this success.

    For the first half of 2025, Truecaller reported a 12 percent increase in net sales to USD 99.33 million (SEK 993.3M; 20 percent in constant currencies), in constant currencies the increase was 21%. This positive momentum was driven by growth across all revenue streams.

    Key Highlights from Truecaller’s Q2 FY2025 Report (April- June 2025)

    Comparative figures refer to April-June 2024

    • Overall net sales increased by 9 percent to USD 49.64 million (SEK 496.4M; 21 percent in constant currencies).
    • EBITDA excluding the costs of incentive programs increased by 20 percent to USD 21.16 million (SEK 211.6M), equivalent to an EBITDA margin of 42.6 percent (38.8 percent). In constant currencies, the EBITDA increase was approximately 38 percent.
    • EBITDA including the costs of incentive programs increased by 5 percent to USD 17.28 million (SEK 172.8M), corresponding to an EBITDA margin of 34.8 percent (36.1 percent). In constant currencies, the EBITDA increase was approximately 24 percent.
    • Profit after tax amounted to USD 11.80 million (SEK 118.0M).
    • Net sales increased by 5 percent in India, by 23 percent in the Middle East and Africa, and by 18 percent in the rest of the world.
    • The average number of monthly active users (MAU) increased by 55.3 million to approximately 426.6 million (from 371.3 million), showcasing continued expansion of Truecaller’s global reach.
    • Total paying subscribers surpassed 3 million, with over 1 million of these subscribers now on iOS, marking important milestones for the company.

    Key Highlights from Truecaller’s H1 FY2025 Report (January-June 2025):

    Comparative figures refer to January-June 2024

    • Overall net sales increased by 12 percent to USD 99.33 million (SEK 993.3M; 20 percent in constant currencies).
    • EBITDA excluding the costs of incentive programs increased by 21 percent to USD 41.02 million (SEK 410.2M), equivalent to an EBITDA margin of 41.3 percent (38.4 percent). In constant currencies, the EBITDA increase was approximately 32 percent.
    • EBITDA including the costs of incentive programs increased by 2 percent to USD 32.18 million (SEK 321.8M), corresponding to an EBITDA margin of 32.4 percent (35.8 percent). In constant currencies, the EBITDA increase was approximately 13 percent.
    • Net sales increased by 9 percent in India, by 25 percent in the Middle East and Africa, and by 18 percent in the rest of the world.
    • The average number of monthly active users (MAU) increased by 15 million, showcasing continued expansion of Truecaller’s global reach.
    • Total paying subscribers surpassed 3 million, with over 1 million of these subscribers now on iOS, marking important milestones for the company.

    About Truecaller

    Truecaller is an essential part of everyday communication for over 450 million active users, with more than a billion downloads since launch and close to 56 billion unwanted calls identified and blocked in 2024 alone. The company has been headquartered in Stockholm since 2009 and has been publicly listed on Nasdaq Stockholm since October 2021.

  • Truecaller is Being Investigated by the IT Department for Violations of Transfer Pricing

    On November 7, a renowned news outlet stated in its report that the Income Tax Department of India (IT) had begun an investigation into the spam caller blocking software Truecaller and calling ID due to a suspected violation of the transfer pricing regulation action.

    According to the report, Truecaller’s offices and other locations connected to the app in Gurugram and a few other locations have been raided by IT department officers.

    In India, the app has more than 400 million active users. Truecaller Fraud Insurance is a new service that the app introduced in India with the intention of providing premium customers with extra security in the event that they become victims of fraud.

    Truecaller, a calling ID and spam caller blocking app, teamed up with HDFC Ergo to offer this service. Since these types of frauds are becoming more common, Truecaller stated that the new tool will truly assist consumers to protect themselves with these fake and fraud calls.

    Truecaller’s Response

    The corporation responded by saying that Truecaller is now fully supporting the authorities at its headquarters. This was unexpected, and Truecaller is presently awaiting formal confirmation and word from the tax authorities.

    According to the company’s press statement, Truecaller will fully comply with the appropriate authorities, and this is not an unusual practice. The business added that, other than regular tax audits, Truecaller is not the target of any tax investigations in India. 

    For its intra-group transactions, Truecaller follows the globally recognised arm’s length norm for transfer pricing, as was previously stated. As far as the Swedish and Indian tax authorities are concerned, the goal is to make sure Truecaller pays taxes correctly. According to the release, the policy is regularly examined by an impartial party to make sure it complies with the requirements of both nations’ tax laws.

    To make sure that cross-border transactions between linked firms are carried out at market value and avoid profit shifting to lower-tax jurisdictions, the tax authorities have increased their inspection of transfer pricing legislation. To stop income leaks, the tax probes on international firms that were previously conducted to verify compliance in the tech and digital industries have been expanded.

    With features like caller ID, call blocking, flash messaging, call recording, chat, and voice over the internet, the Stockholm-based startup runs a smartphone application.

    The business maintained that, aside from regular tax audits, its operations are “entirely transparent” and immune to tax investigations in India.

    Rishit Jhunjhunwala Has Been Appointed as the New CEO of Truecaller

    Rishit Jhunjhunwala, the current chief of products, was named Truecaller’s new CEO the day before the raids took place. Jhunjhunwala is the managing director of Truecaller’s India division and has been with the company since 2015. On January 9, 2025, he will assume his new position following Alan Mamedi’s resignation. In a letter, co-founders Alan Mamedi and Nami Zarringhalam announced their decision to leave Truecaller’s operational responsibilities on June 30, 2025.

    India Accelerator & 01 Booster Partner for Pan-India Startup Corridor
    India Accelerator partners with Tokyo-based 01 Booster to create a pan-India startup corridor, fostering cross-border innovation and growth.
    StartupTalkyNitin Konde