Truecaller Cuts 70 Jobs Amid Declining Ad Sales, Revenue Drop

Truecaller, a Sweden-based caller ID company, is cutting 70 jobs, approximately 15% of its workforce, in the second quarter due to declining ad sales and revenue drop.

The company posted its Q1 2026 results with a 27% drop in net sales to 362 million SEK ($39.34 million) and a 41% year-on-year decline in India. Ad revenues also declined by 44%.

"The year-on-year comparison looks especially weak given that Q1 and Q2 last year included a large contribution coming from the real money gaming sector in India in connection with the IPL season that takes place around this time. The situation in the Middle East also reduced our revenues from that region," Truecaller CEO Rishit Jhunjhunwala said during the earnings call.

Truecaller blamed real-money gaming shutdowns in India and changes in advertising partner algorithms, such as Google, for the decline. The company's stock has dipped by over 26% this year and by over 79% in the last 12 months.

• Truecaller has crossed the mark of 500 million active users.
• Its subscription revenue increased by 27%, representing 31% of net sales.
• The company has been adding features like AI Assistant and Family Protection to make its paid offerings more attractive.

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With the job cuts, Truecaller aims to adjust to the changing market and improve its financial performance. The company's stock has seen some recovery after the Q1 results.

Truecaller's CEO, Rishit Jhunjhunwala, expressed optimism about the company's future prospects, citing the growth in subscription revenue and the addition of new features to its paid offerings. However, the company's financial performance will likely be closely watched in the coming quarters.

Related Developments

• India's telecom-led solutions, such as Calling Name Presentation (CNAP) identification service, have been challenging Truecaller.
• The company's ad revenues declined by 44% in Q1 2026.
• Truecaller's stock has dipped by over 26% this year and by over 79% in the last 12 months.