Truecaller (TRUE) investor relations material

Executive summary

• Average monthly active users reached 471 million, up 10% year-over-year, with daily active users at 409 million, up 11% year-over-year and a DAU/MAU ratio of 87%.

• Sequential improvement across all revenue streams, with recurring revenues now comprising 49% of total net sales.

• Net sales for Q2 2026 declined 21% year-over-year to SEK 393.2 million, with a 14% decrease in constant currencies.

• EBITDA margin was 22.4%, with EBITDA down 49% year-over-year; margin including incentive costs declined from 34.8% to 22.4%.

• Announced acquisition of textPlus Inc. to expand recurring revenues and U.S. market presence.

Financial highlights

• Net sales for Q2 were SEK 393M, down 21% year-over-year (SEK 496M in Q2 2025); in constant currencies, down 14%.

• EBITDA including incentive costs was SEK 88M, down 49% year-over-year (SEK 173M); margin at 22.4%.

• Gross margin decreased to 71.5% from 77.2% year-over-year, but improved sequentially.

• Net cash flow from operating activities (excluding tax and working capital) was SEK 122 million, down from SEK 221 million a year ago.

• Cash and short-term funds at quarter-end were SEK 850 million, with SEK 500 million revolving credit facility unused.

Outlook and guidance

• Sequential growth in all revenue streams is expected to continue, with further investments planned in user acquisition and growth initiatives in H2.

• Premium and business messaging expected to recover to previous volume levels by Q4.

• New ad bidding model rollout is gradual, with impact expected in Q4 or later.

• eSIM and new product launches are in early stages, with meaningful revenue contribution expected over several quarters.

• No formal forecasts published; management expects continued momentum in recurring revenues, advertising, and business services.