Slide 1: Q2 Report
Q2 Report JANUARY - JUNE 2025 Rishit Jhunjhunwala Odd Bolin CEO CFO 2025 Q2 REPORT @truecaller @Truecaller_IR
Slide 2: Agenda
Agenda 1. Quarterly Highlights 2. Financial Performance 3. Product Update 4. Summary 5. Q&A 2025 Q2 REPORT
Slide 3: Quarterly Highlights
Quarterly Highlights
Slide 4: Q2 Highlights
Q2 Highlights 427M 367M 86% Avg Monthly Active non-iOS users, Avg Daily Active non-iOS users, DAU DAU/MAU Stickiness MAU (371M) (315M) ▲15% (YoY) ▲16% (YoY) 496M 212M 42.6% Net sales (456M) EBITDA excl. incentive costs¹ (177M) EBITDA margin excl. incentive costs ▲9% (YoY) ▲20% (YoY) (38.8%) 1 EBITDA
Slide 5: Q2 Highlights in constant currencies
Q2 Highlights in constant currencies 551M 235M 44.3% SEK net sales (456M) SEK EBITDA excl. incentive costs EBITDA margin excl. incentive costs¹ ▲21% (YoY) (177M) (38.8%) ▲38% (YoY) 1 EBITDA margin incl. incentive costs in constant currency of 36.9% (36.1%) 5 2025 Q2 REPORT 5
Slide 6: Continued strong user growth (non-iOS)
Continued strong user growth (non-iOS) Monthly Active Users1 Daily Active Users1 (Millions, Q-average) (Millions, Q-average) +15% +16% 6 1. Figures represent period averages (i.e., the average of each day in the period) 6
Slide 7: Financial performance
Financial performance
Slide 8: Net sales impacted by FX
Net sales impacted by FX Total net sales SEKm ● In SEK: Net sales grew with 9% +9% ○ Ads -1% ○ Subscriptions +35% ○ Truecaller for Business +34% ● However all revenue streams grew in constant currencies ● In constant currencies: Net sales grew with 21% ○ Ads +11% ○ Subscriptions +48% ○ Truecaller fo
Slide 9: Revenue by service type
Revenue by service type Advertising Consumer subscriptions Truecaller for Business SEKm SEKm SEKm -1% +35% +34% Net sales growth of approximately 11% Net sales growth of approximately Net sales growth of approximately in constant currencies 48% in constant currencies 53% Y/Y in constant currencies a
Slide 10: Advertising
Advertising 331 M 67% Net sales (332 M) Share of Net Sales (73%) ▼-1% (SEK YoY) and ▲11% in constant currencies (YoY) 0.90 SEK Ad revenue per DAU on Android+Web (1.06) and 1.00 (1.06) in constant currencies 10 2025 Q2 REPORT 10
Slide 11: Truecaller Premium Subscriptions
Truecaller Premium Subscriptions 87.1M 18% 44% Net sales (64.4M) Share of total net sales iOS Share of premium revenues ▲35% (SEK YoY) and ▲48% in (14%) (41%) constant currencies (YoY) 2.99M 0.65% 10.0 SEK Av. number of subscribers (2.34M) Conversion rate (0.59%) Monthly revenue per subscriber (9.08
Slide 12: Truecaller for Business
Truecaller for Business 77.6M 16% Net sales (57.7M) Share of Net Sales (13%) ▲34% ( SEK YoY) and▲53% in constant currencies (YoY) 228M 2.7% 4.4BN ARR for Verified Business (190M) Revenue churn Verified business Delivered business messages (2.4 Bn) ▲ 20% (YoY) ▲36% in constant (3.1%) ▲79% (YoY) curre
Slide 13: Recurring revenues grew by +35% Y/Y and 50% in constant currencies
Recurring revenues grew by +35% Y/Y and 50% in constant currencies SEKm +35% 13 2025 Q2 REPORT Subscriptions Truecaller for Business
Slide 14: Improved gross margin
Improved gross margin Gross profit & margin (%) SEKm ● Gross profit +12% YoY in SEK ● Gross margin improved to 77.3% (75.6%) ● Increased direct sales for Ads and increased TfB sales contributed positively ● Increased efficiency on server and verification costs also had a positive impact 14 2025 Q2 R
Slide 15: Quarterly cost development
Quarterly cost development SEKm ● Annual salary review impact in Q2 ● Stable other expenses after higher marketing spend in Q1 ● Incentive costs increased Y/Y but was lower Q/Q as share price impact was less (see next slide) ● The tax rate was 29.0% (25.3%) in the quarter and 28.4% (24.3% in H1). Th
Slide 16: Incentive costs
Incentive costs SEKm ● Albeit a part of our remuneration strategy, the incentive costs do not properly reflect our operations. ● Incentive costs cover both future dilution due to options and RSUs exercising, and accruals for future social security costs for mostly Swedish employees at exercise. ● At
Slide 17: Profit development excluding incentive costs
Profit development excluding incentive costs EBITDA and margin excl. incentive cost (%) ● EBITDA increased by 20% to 212 SEKm (177), driven by revenue development and improved gross margin. ● Solid underlying profitability, with EBITDA-margin increasing to 42.6% (38.8%). ● EBITDA in constant currenc
Slide 18: Profit development including incentive costs
Profit development including incentive costs EBITDA and margin (%) SEKm ● EBITDA including incentive costs increased by 5% to 173 SEKm (165) ● EBITDA-margin including incentive costs was 34.8% (36.1%) ● EBITDA in constant currencies increased by approximately 24% 18 2025 Q2 REPORT FINANCIAL PERFORMA
Slide 19: Cash flow and financial position
Cash flow and financial position Net cash flow from operating activities • Net cash flow from operating activities before tax paid excluding paid income tax was 315 SEKm SEKm (213), of which 94 MSEK (11) was attributed to changes in working capital. • As of today TC holds 4.2 million B- and 5.0 mill
Slide 20: Currency impact on net sales and EBITDA
Currency impact on net sales and EBITDA Net sales EBITDA excl. Incentive costs SEKm SEKm +21% +38% ● SEK strengthened 12% Y/Y vs INR and with 8% Q/Q ● SEK strengthened 10% Y/Y vs USD and with 9% Q/Q 20 2025 Q2 REPORT FINANCIAL PERFORMANCE 20
Slide 21: Q2 2025 Product Update
Q2 2025 Product Update
Slide 22: Q2 Product Highlights
Q2 Product Highlights Continued AI-powered summaries Brand new calling improvements to of community experience for fraud detection feedback Android users 22 2025 Q2 REPORT 22
Slide 23: Improvements in fraud and scam detection
AI-POWERED CORE PRODUCT IMPROVEMENTS Improvements in fraud and scam detection Improved AI-powered fraud detection models successfully rolled out across key markets leading to millions of additional fraud calls being accurately detected every day. Continued product improvements to Scam Feed, our comm
Slide 24: AI-powered summaries of community feedback
AI-POWERED CORE PRODUCT IMPROVEMENTS AI-powered summaries of community feedback New AI summary that’s designed to accurately summarize community feedback like user-reported names, comments, and detailed spam/ fraud reports received against phone numbers. Prominently displayed across the app includin
Slide 25: Brand new calling experience on Android
TRUECALLER FOR ANDROID Brand new calling experience on Android Significantly revamped Android calling experience with focus on a modern, intuitive, and functional interface that offers a simplified user experience while retaining vital information like business identity and spam risk. The new callin
Slide 26: Two new ads products to strengthen direct sales
ADTECH Two new ads products to strengthen direct sales While third-party demand continues to be important and was in focus during the quarter, the limelight was put on delivering two new ads products to advertisers. Truecaller Masthead Masthead is a new premium advertising space on the Caller ID scr
Slide 27: Premium milestones and continued growth on iOS
PREMIUM Premium milestones and continued growth on iOS Truecaller Premium reached significant milestones in Q2, including 3 million overall subscribers, and 1 million on iPhone. During Q2, subscribers on iPhone grew by more than 210K, corresponding to a growth of 25 percent compared to Q1, and 50 pe
Slide 28: Empowering businesses with new product offerings
TRUECALLER FOR BUSINESS Empowering businesses with new product offerings In Q2, Truecaller launched Secure Calls to provide customers with a possibility to sign calls in real time, reducing the risk of call spoofing. Existing enterprise customers are increasingly adopting richer features such as Cal
Slide 29: Summary
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Slide 30: Q2 2025 summary
Q2 2025 summary ● Strong user growth , +15m MAU in Q2 ● Recurring revenues are now 1/3rd of our revenues and grew with 50% in constant currencies ● Revenue growth (+9% in SEK, +21% with constant FX) with contribution from all revenue streams in constant currencies ● Improved EBITDA both Q/Q and Y/Y
Slide 31: Thank you
Thank you To our users, partners, customers and the Truecaller team
Slide 32: Q&A
Q&A
Slide 33: -—truecaller
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