Slide 1: Our Vision
OUR VISION To make tomorrow's communication smarter, safer and more efficient.
Slide 2: Q1 Report January - March 2024
Q1 Report JANUARY - MARCH 2024 Alan Mamedi Odd Bolin CEO CFO 2024 Q1 REPORT @truecaller @alanmamedi @Truecaller_IR
Slide 3: Agenda
Agenda 1. Quarterly Highlights 2. Financial Performance 3. Product Update 4. Summary 5. Q&A 2024 Q1 REPORT
Slide 4: Quarterly Highlights
Quarterly Highlights
Slide 5: Q1 Highlights
Q1 Highlights ¹ 383M 314M 427M Avg Monthly Active Users, MAU Avg Daily Active Users, DAU SEK net sales (387M) (344M) (278M) ▲10% (YoY) ▲11% (YoY) ▲13% (YoY) 151M 0.38 114M SEK EBITDA¹ (150M) Earnings per share (0.30 SEK) SEK in net cash from operating ▲1% (YoY) ▲27% (YoY) activities before tax payme
Slide 6: Q1 Business Highlights
Q1 Business Highlights Good traction in focus markets Strong user growth, especially in selected growth markets Colombia and Nigeria, with an annualized growth rate of 40-50%. Revenues from US subscriptions grew by >60% YoY. Continued improvement of consumer subscriptions ARPU reached an all-time hi
Slide 7: Continued strong user growth and high daily usage
Continued strong user growth and high daily usage Monthly Active Users1 Daily Active Users1 (Millions, Q-average) (Millions, Q-average) % of MAUs 80% 81% 81% 81% 81% 82% 7 1. Figures represent period averages (i.e., the average of each day in the period) 7
Slide 8: Financial performance
Financial performance
Slide 9: Revenue
Revenue Total net sales All three revenue streams contribute to revenue SEKm growth ● Income from Ads positively impacted by improved engagement, increase in available impressions and IPL-timing ● Increasing share of users converted into premium and average price increased ● Truecaller for Business
Slide 10: Revenue by service type
Revenue by service type Advertising Consumer subscriptions Truecaller for Business SEKm SEKm SEKm After a slow start general demand improved during the 15% growth in number of subscribers and 25% Strong growth for Verified Business continues both quarter. IPL provided help towards end of quarter. gr
Slide 11: IPL impact on Truecaller ad revenues
IPL impact on Truecaller ad revenues SEKm ● Truecaller’s extensive reach and performance marketing capabilities position the company as a preferred platform for brands that want to grow their user base during the Indian Premier League in cricket (IPL) ● Timing of IPL has a material effect on ad reve
Slide 12: Increase in recurring revenues
Increase in recurring revenues +33% 12 2024 Q1 REPORT Subscriptions Truecaller for Business
Slide 13: Stable gross margin
Stable gross margin Gross profit & margin (%) SEKm ● All three revenue streams contributed to improved gross profit ● Stable gross margin development Y/Y and Q/Q. ● Costs for server & hosting and verification have stabilised 13 2024 Q1 REPORT FINANCIAL PERFORMANCE 13
Slide 14: Cost development
Cost development SEKm • Stable staff costs and number of employees, yearly salary increase from Q2 • As communicated - Investments in growth related initiatives in selected markets, increased other external expenses • Costs for incentive programs back to “normal” after positive “one-off” in Q4 • Tax
Slide 15: Profit development
Profit development EBITDA and margin (%) SEKm ● Profit for the period increased with 22% to 133 MSEK (109) and EPS grew with 27% compared to Q1 2023 ● EBITDA grew with 1% compared to Q1 2023 to 151 MSEK (150) ● Long term investments have short term negative impact on margin development. EBITDA-margi
Slide 16: Cash flow and financial position
Cash flow and financial position • Net cash flow from operating activities excluding paid income tax was Net cash flow from operating activities 114 MSEK (127), of which -62 MSEK (-31) was attributed to changes in before tax paid working capital. SEKm • Authorisation to buy back 10% of outstanding s
Slide 17: Financial targets
Financial targets FY 2021 FY 2022 FY 2023 Q1 2024 Medium-term financial targets Targeting an average net sales 1 growth of above 45% per year Net sales growth 130% 57% -2% 10% over the medium term (2021E-2024E) Long-term financial targets Adj. EBITDA margin 42% 40% 41% 35% Excl. incentive costs 42%
Slide 18: Quarterly Product Update
Quarterly Product Update
Slide 19: Q1 Product Highlights
Q1 Product Highlights Core product offering Truecaller Premium AdTech and Truecaller for Business 19 2024 Q1 REPORT 19
Slide 20: Enhanced spam protection
CORE PRODUCT ENHANCEMENTS Enhanced spam protection New data partnerships in combination with internal machine learning initiatives further improve Truecaller’s ability to provide relevant information on who’s calling 19 languages covered with Business Categorization 20
Slide 21: AI-driven SMS fraud protection
CORE PRODUCT ENHANCEMENTS AI-driven SMS fraud protection Community feedback in combination with the analysis of sender signals and message patterns enable more accurate fraud detection on SMS 9 million+ fraud alerts with 99% 13x more users protected accuracy sent on a daily basis from SMS vs. 23Q4 2
Slide 22: Improved feedback mechanisms
CORE PRODUCT ENHANCEMENTS Improved feedback mechanisms New features improve the user experience while making it easier for users to contribute in the form of spam reports, fraud alerts, survey responses and more ▲19% growth in app Over 20% of users engagement contribute insights 22 2024 Q1 REPORT
Slide 23: Truecaller for Web
CORE PRODUCT ENHANCEMENTS Truecaller for Web The app has been expanded for desktop use, opening up opportunities for for additional features, business integration and other use cases 23 2024 Q1 REPORT
Slide 24: Truecaller for iPhone
CORE PRODUCT ENHANCEMENTS Truecaller for iPhone Continued investments drive revenue growth across both free and paid versions of the app on iPhone. Better monetization across the offering: ▲>150% growth ▲>150% growth in revenue in revenue from ▲100% growth in revenue from advertising on iOS advertis
Slide 25: Max spam protection
INVESTMENTS DRIVING PREMIUM ADOPTION Max spam protection With the introduction of subscriber-only feature Max protection, calls from any recognized spammer are automatically blocked, offering users a solution that saves time and reduces frustration ▲25% growth in revenue ▲15% growth in overall from
Slide 26: Call Recording and Truecaller Assistant
CLOUD TELEPHONY TECHNOLOGY Call Recording and Truecaller Assistant Enhancements to the cloud telephony offering include improvements to transcription quality and product localization Call Recording launched in 70% retention from Assistant seven additional markets in Q1 subscribers on Android 26 2024
Slide 27: Further investments in advertising capabilities
SELECT ADVERTISING PARTNERS ADTECH Further investments in advertising capabilities Supply- and demand-side initiatives improve inventory quality and access to demand for better advertiser ROI AdTech improvements drive revenue growth through flexible integration paths and enhanced features for both p
Slide 28: Case study Xiaomi
ADTECH We at Xiaomi are committed to pioneering fresh approaches in our media strategies. Case study Truecaller’s latest offering, "click to Xiaomi experience", has helped the brand stand out amidst the noise, Xiaomi engaged Truecaller to drive visibility for the presenting a visually launch of the
Slide 29: Continued expansion of enterprise business
TRUECALLER FOR BUSINESS (TfB) Continued expansion of enterprise business Truecaller continues to secure larger deals and enjoys strong retention among its major accounts SELECT NEW VERIFIED BUSINESS LOGOS 29 2024 Q1 REPORT
Slide 30: Business messaging
TRUECALLER FOR BUSINESS (TfB) Business messaging Delivered in partnership with Tanla, business messaging facilitates secure, reliable, and cost-efficient distribution of messages to end customers Rich media functionalities were launched in the first quarter and enable businesses to deliver dynamic a
Slide 31: Summary
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Slide 32: Q1 2024 Summary
Q1 2024 Summary ● Strong user growth ● Good results from focused growth investments in Q1. Expect higher investment than 2023 to continue ● Revenue growth driven by all revenue streams. Ad revenues benefited from IPL timing ● 35% EBITDA-margin including increased investments and strong net profit de
Slide 33: Thank you
Thank you To our users, partners and the Truecaller team
Slide 34: Q&A
Q&A
Slide 35: Appendix
Appendix
Slide 36: Income Statement & Free Cash Flow
Income Statement & Free Cash Flow 36 APPENDIX 1 36
Slide 37: Balance Sheet
Balance Sheet 37 APPENDIX 2 37
Slide 38: Truecaller
truecaller