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Truecaller’s Q4 sales jump 23 per cent, India leads with SEK 371.9 million
MUMBAI: Truecaller has delivered another year of solid revenue growth and increased user engagement, but the financial results for Q4 and FY2024 also highlight key challenges, including margin compression, rising costs, and a more competitive advertising landscape. The Swedish tech firm’s continued expansion into business solutions, premium subscriptions, and its core advertising business reflects a strategic focus on diversified revenue streams.
Truecaller closed Q4 2024 with a 23 per cent year-over-year (YoY) increase in net sales, reaching SEK 522.8 million compared to SEK 424.7 million in Q4 2023. The company reported an EBITDA of SEK 201.1 million, up 19 per cent, but its EBITDA margin dipped slightly to 38.5 per cent from 39.7 per cent. Profit after tax stood at SEK 150.4 million, reflecting a 29 per cent YoY increase. Basic earnings per share (EPS) rose to SEK 0.44 from SEK 0.33, highlighting strong per-share earnings growth.
Regionally, India remained the company’s largest market, contributing SEK 371.9 million in Q4 sales, an increase of 20 per cent YoY. Meanwhile, the middle east & Africa (MEA) grew by an impressive 43 per cent to SEK 76.0 million, and the rest of the world (RoW) segment climbed 24 per cent to SEK 74.9 million. This broad-based growth underscores Truecaller’s ability to scale its services across diverse geographies.
Full-year 2024 performance
For FY2024, Truecaller’s net sales increased eight per cent to SEK 1,863.2 million, compared to SEK 1,728.9 million in 2023. However, EBITDA declined to SEK 684.2 million from SEK 702.9 million, reflecting a lower 36.7 per cent EBITDA margin, compared to 40.7 per cent in 2023. Profit after tax fell slightly to SEK 524.3 million from SEK 536.3 million, indicating pressure on the bottom line despite strong topline growth.
Geographically, Truecaller’s India segment delivered SEK 1,350.0 million in sales, marking a three per cent YoY growth, while the middle east & Africa segment surged 22 per cent to SEK 254.3 million, and the rest of the world segment expanded 23 per cent to SEK 258.9 million.
Segment-wise performance
1. Advertising revenue:
● Truecaller’s ad revenues in Q4 grew 17 per cent to SEK 372.0 million, but ad CPMs declined by approximately 25 per cent, particularly in India.
● Total ad impressions surged 57 per cent YoY, indicating higher engagement and monetisation improvements.
● MEA led ad revenue growth, while India saw a softer uptick due to increased ad supply.
2. Premium subscription revenue:
● Q4 subscription revenue jumped 39 per cent YoY to SEK 77.7 million.
● The number of premium subscribers increased to 2.58 million, a 22 per cent YoY rise.
● Premium revenue saw the highest growth in the Rest of the World segment, reflecting strong international adoption.
3. Truecaller for Business (TfB):
● Q4 TfB revenue soared 45 per cent YoY to SEK 71.9 million.
● The Verified Business (VB) platform grew its annual recurring revenue (ARR) by over 50 per cent to SEK 234 million.
● Business Messaging volumes increased 80 per cent YoY, with 4.9 billion messages sent.
Profitability & cost trends
● Gross profit rose 25 per cent to SEK 403.0 million in Q4, with a gross margin of 77.1 per cent.
● Staff costs increased to SEK 120.2 million in Q4, driven by higher share-based compensation and new hiring.
● Marketing and growth investments intensified, leading to increased customer acquisition costs, particularly in key international markets.
● Truecaller repurchased 0.6 million B-shares as part of its ongoing share buyback program.
Key Developments in FY2024
● Truecaller appointed Rishit Jhunjhunwala as its new CEO in January 2025, signaling a leadership transition aimed at accelerating growth.
● The company launched its biggest-ever iPhone update, closing the gap between Android and iOS user experiences.
● Expansion into AI-powered fraud detection and business messaging presents a significant long-term revenue opportunity.
● Truecaller remains focused on enhancing user engagement, monetisation, and premium subscription adoption.
Commenting on Truecaller’s long-term vision, CEO Rishit Jhunjhunwala stated, “Our conviction is that Truecaller has a much larger role to play in the growing field of mobile communication, including safeguarding people and businesses from the globally growing threat of digital scams and fraud.”
Truecaller has demonstrated impressive revenue expansion and user growth, particularly in emerging markets. However, margin compression, rising operating costs, and a shifting ad landscape present challenges. While premium subscriptions and business solutions provide promising diversification, Truecaller will need to balance growth with profitability in the coming quarters.
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Inshorts Group chief Deepit Purkayastha joins IAB video council for Southeast Asia and India
The co-founder and chief executive of the short-form content platform has been inducted into the IAB SEA+India Video Council, giving India a stronger voice in shaping digital video frameworks
NOIDA: India has long been the world’s most chaotic, multilingual and mobile-first digital market. Now, one of its most prominent short-video executives is getting a seat at the table where the rules are written.
Deepit Purkayastha, co-founder and chief executive of Inshorts Group, has been selected as a member of the IAB SEA+India Video Council for 2026. Run by the Interactive Advertising Bureau, the council brings together senior leaders from Southeast Asia and India to shape standards, best practices and measurement frameworks for the fast-evolving video and digital advertising ecosystem.
The timing is pointed. According to the IAMAI-Kantar Internet in India Report 2025, over 588 million Indians are now consuming short-video content, with growth increasingly driven by rural and non-metro audiences. India’s active internet user base has crossed 950 million, with 57 per cent of users now coming from rural markets. Yet the frameworks that govern how video consumption is measured and monetised were largely designed for single-language, Western markets and have struggled to keep pace with the scale, diversity and complexity of India’s digital landscape.
Purkayastha is no stranger to these debates. He already serves on the AI Council at Marketing and Media Alliance India and as co-chair of the Digital Entertainment Committee at the Internet and Mobile Association of India. His induction into the IAB SEA+India Video Council extends that influence into the global video standards arena.
Inshorts Group sits squarely at the intersection of these forces. Its flagship product, Inshorts, India’s highest-rated short news app, reaches 12 million active users with 60-word news summaries. Its sister platform, Public App, reaches 80 million monthly active users across more than 700 districts and 12 languages, serving communities that most global platforms barely register.
Purkayastha said the opportunity was about building something more representative. “India today sits at the centre of the global video ecosystem, but the frameworks that define how value is created and measured have not always kept pace with the realities of our market,” he said. “Being part of the IAB SEA+India Video Council is an opportunity to contribute to a more representative and future-ready approach, one that accounts for diversity in language, context, and user intent.”
As a council member, Purkayastha will contribute to shaping regional standards across video advertising, measurement and platform governance, with a focus on frameworks that are native to India’s multilingual, mobile-first ecosystem rather than imported from global benchmarks designed elsewhere.
For years, India has been content to play by rules written for other markets. Purkayastha’s induction is a signal that it is done waiting to be consulted and ready to start writing them.
