Increased revenue and profit growth

Year-end report January-December 2024

STOCKHOLM, Feb. 18, 2025 /PRNewswire/ -- Truecaller, the leading global platform for verifying contacts and blocking unwanted communication, is proud to report an increase in net sales with 23% to SEK 522.8 million (424.7). Net sales reached an all-time high and all income streams contributed to the growth. EBITDA increased with 19% to SEK 201.1 million (168.5) and the EBITDA margin was 38.5% (39.7%). EBITDA excluding costs for incentive programs increased with 36% and the margin increased to 44.3% (40.1%). Net profit increased with 29% and earnings per share increased with 33%. During the quarter average number of daily active users grew with 17 million which was an all-time high user growth in absolute terms.

Extract from CEO Word:

"Net sales increased by 23% in the fourth quarter compared to the same quarter last year, reaching 522 (425) million SEK. All three revenue streams contributed to this growth. Our recurring revenues, from Truecaller for Business (TfB) and Truecaller Premium subscriptions, increased by 42% and now account for 29% (25%) of our total revenue. Advertising revenue continued to grow for the second quarter in a row, now by 17% compared to the same quarter last year.

EBITDA increased by 19% to 201 (169) million SEK, despite larger investments in user growth and increased costs for incentive programs related to a higher share price. EBITDA excluding incentive program costs increased by 36%. The EBITDA margin was 38.5% (39.7%) including incentive program costs. Earnings per share increased by 33% to 0.44 (0.33) SEK per share.

Our user base continued to show strong growth, with 16 million new monthly active users and 17 million new daily active users during the quarter. The average number of monthly active users reached 429 million, an increase of 55 million in one year, corresponding to a growth of 15%. Growth remains broad-based, occurring across many countries and regions. We are rapidly approaching half a billion users, and we have never attracted new users as fast as we did in 2024.

The strategic decisions we have made regarding our Premium offerings are now yielding strong results, with subscription revenue growing by 39% to 78 (56) million SEK. The growth compared to Q3 2024 was 15%. We see strong growth across all regions, increased conversion rates, and higher average revenue per subscriber. Subscription revenue is growing with good pace on both Android and iOS and in all regions with the fastest growth occurring in regions outside India and MEA. In late January, we launched our new iOS product, which will primarily be a premium offering. With users finally getting the full Truecaller experience on iPhones, our ambition is to increase the growth of iOS-subscribers. The new offer should gradually start to have a revenue impact from the second quarter of 2025. Already today, subscription revenues from iOS users is 43% of total subscription revenue.

It is with great humility that I have taken on the role of CEO following the decision of Truecaller's co-founders and my mentors, Alan and Nami, to step down from their operational roles after 15 years. Alan and Nami and the rest of the company have built a great foundation for future growth. As usage and relevance of mobile communication continues to grow, it brings with it immense opportunities for Truecaller to make communication safer, trusted and efficient. We will continue to execute our well-laid-out long-term strategy and back it with Truecaller's agile startup culture, profitable growth and a strong balance sheet. 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," says Rishit Jhunjhunwala CEO of Truecaller.

October-December 2024 (Q4)

Comparative figures refer to October-December 2023

• Net sales increased by 23 percent to SEK 522.8m (424.7).
• EBITDA increased by 19% to SEK 201.1m (168.5), corresponding to an EBITDA margin of 38.5 (39.7) percent. Excluding the costs of incentive programs, EBITDA would have been SEK 231.4m (170.5), equivalent to an EBITDA margin of 44.3 (40.1) percent.
• Profit after tax increased by 29% to SEK 150.4m (116.2).
• Basic earnings per share was SEK 0.44 (0.33) and diluted earnings per share were SEK 0.44 (0.33).
• The average number of active users (MAU) increased by 55.4 million to approximately 429.4 million (374.0).
• Net sales increased by 20 percent in India, by 43 percent in the Middle East and Africa and by 24 percent in the rest of the world.

January-December 2024

Comparative figures refer to January-December 2023

• Net sales increased by 8 percent to SEK 1863.2m (1728.9).
• EBITDA amounted to SEK 684.2m (702.9), corresponding to an EBITDA margin of 36.7 (40.7) percent. Excluding the costs of incentive programs, EBITDA would have been SEK 758.0m (742.7), equivalent to an EBITDA margin of 40.7 (43.0) percent.
• Profit after tax amounted to SEK 524.3m (536.3).
• Basic earnings per share were SEK 1.51 (1.49) and diluted earnings per share were SEK 1.51 (1.49).
• The average number of active users (MAU) increased by 45.3 million to approximately 405.9 million (360.5).
• Net sales increased by 3 percent in India, with 22 percent in the Middle East and Africa and by 23 percent in the rest of the world.

Presentation of the report

Rishit Jhunjhunwala, CEO and Odd Bolin, CFO presents the report and answers questions in a webcast and conference call on the 18^th of February at 13.00 CET. The presentation will be held in English.

If you wish to participate via webcast, please use the link below.
https://truecaller.events.inderes.com/q4-report-2024

If you wish to participate via teleconference, please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.
https://conference.inderes.com/teleconference/?id=50050364

For more information, please contact:
Odd Bolin, CFO
investors@truecaller.com
Andreas Frid, Head of IR & Communication
+46 705 29 08 00
andreas.frid@truecaller.com

This information is information that Truecaller is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, at the time stated by the Company's news distributor, Cision, at the publication of this press release.

About Truecaller:

Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies. especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 429 million active users. Headquartered in Stockholm, since 2009, we are a co-founder led. entrepreneurial company. with a highly experienced management team. Truecaller is listed on Nasdaq Stockholm since 8 October 2021. For more information, please visit corporate.truecaller.com

This information was brought to you by Cision http://news.cision.com.

https://news.cision.com/truecaller-ab/r/increased-revenue-and-profit-growth,c4106993

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SOURCE Truecaller AB