Truecaller slashes 70 jobs amid declining ad sales

Sweden-based caller ID institution Truecaller said it volition chopped 70 jobs, oregon astir 15% of its workforce, successful the 2nd quarter, arsenic the institution posted its Q1 2026 results with a diminution successful gross and profits. Truecaller blamed real-money gaming successful India, changes successful advertizing spouse algorithms, and struggle successful the Middle East for the slide.

As TechCrunch reported past month, the institution is already facing challenges from India’s telecom-led solutions, specified as Calling Name Presentation (CNAP) recognition service, and 5% year-on-year diminution successful downloads past year.

In its Q1 2026 results, Truecaller’s nett income dropped 27% to 362 cardinal SEK ($39.34 million). In its biggest market, India, nett income dipped by 41% year-on-year. In addition, advertisement revenues declined by 44%.

“The year-on-year examination looks particularly anemic fixed that Q1 and Q2 past twelvemonth included a ample publication coming from the existent wealth gaming assemblage successful India successful transportation with the IPL play that takes spot astir this time. The concern successful the Middle East besides reduced our revenues from that region,” Truecaller CEO Rishit Jhunjhunwala said during the net call.

Last August, India banned real-money gaming apps specified arsenic Dream 11 and MPL that allowed users to usage wealth to play phantasy sports. Industry bodies estimated that the real-money gaming manufacture was worthy $23 cardinal successful India. Because of this shutdown, platforms connected which these real-money apps are advertised were deprived of that revenue.

Truecaller besides said that the gross diminution successful the advertisement concern was besides owed to a programmatic partner, identified arsenic Google by an expert earlier this year, changing its algorithms.

There were lone a fewer positives for the institution this quarter. First, it crossed the people of 500 cardinal progressive users. Plus, its subscription gross accrued by 27%, representing 31% of nett sales. The institution has been adding features like AI Assistant and Family Protection to marque its paid offerings much attractive.