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Truecaller (TRUE) investor relations material
Truecaller Q3 2025 earnings summary
Complete event summary combining all related documents: earnings call transcript, report, and slide presentation.Q3 2025 earnings summary28 Oct, 2025
Executive summary
Recurring revenues grew 32% year-over-year (48% in constant currencies), driven by Truecaller for Business and premium subscriptions, while ad revenues declined 10% due to algorithm changes and regulatory headwinds.
Premium subscriptions and Truecaller for Business achieved record growth, with premium conversion rates up to 8% in some markets and iOS revenue up 65% year-over-year.
User base expanded by 15 million, reaching 450 million Android users globally, with high engagement (86% daily active ratio) and strong growth in LATAM, Southeast Asia, Middle East & Africa.
EBITDA margin remained healthy at 34.7%–35%, despite ad revenue volatility and increased incentive costs.
Net sales for Q3 2025 increased by 2% to SEK 468 million (14% in constant currencies).
Financial highlights
Net sales reached SEK 468 million in Q3, up 2% year-over-year (14% in constant currencies).
EBITDA excluding incentive costs was SEK 186 million, down 1% year-over-year, with a margin of 39.8%.
Gross margin declined to 75.7%, impacted by higher server and verification costs.
Premium subscription revenue grew 43% in SEK (55% in constant currencies), reaching SEK 96 million and 3.3 million average users.
Truecaller for Business revenue grew 21% in SEK (39% in constant currencies), with 75% growth outside India.
Cash and short-term funds: ~SEK 1 billion, with no financial debt.
Outlook and guidance
Near-term ad revenue headwinds expected to persist due to external factors, but mitigation strategies and diversification are underway.
The company is unlikely to fully achieve its 2025 EBITDA margin target of 35% due to ad volatility and currency headwinds, but remains confident in long-term margin potential above 35%.
Focus remains on growth over profitability, with continued investment in products, marketing, and geographic expansion.
Several new product launches are planned in the coming months.
Ad revenue recovery strategy?
Drivers for recurring revenue growth outside India?
Update on 2025 financial targets given headwinds?
Direct sales growth timeline and targets
Growth vs. profitability strategy details
Sustain premium growth without marketing spend?
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Next Truecaller earnings date
Q4 202517 Feb, 2026
Next Truecaller earnings date
Q4 202517 Feb, 2026
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Frequently asked questions
Truecaller is a communication platform for verifying contacts and blocking unwanted calls and messages worldwide. Truecaller can identify spam calls, search for people using numbers, chats over texts and make calls from within the application to prove identity. The users of Truecaller have the option to verify their contacts and block unwanted calls, messages, SMSs and faxes. Truecaller also offers services through its "Rupeebox" service where a user can fill out forms for services for government agencies, energy companies or banks etc., online using their mobile devices instead of hard copies. Truecaller was founded in 2009 and is headquartered in Stockholm, Sweden.
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