Truecaller AB (publ) (TRUE_B) Q1 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

During the questions and answer session, participants are able to ask questions by dialing pound key 5 on their telephone keypad. Now I will hand the conference over to the CEO Rishit Ginginwala and CFO Odd Bolin. Please go ahead. Hello everyone and welcome to our Q1 report webcast. I'm Rishit Ginginwala, the CEO of Truecaller and with me I have Odd, our CFO. We'll start with the overall highlights from the quarter and then walk you through our financial performance. After that, we'll cover product highlights and then open up for questions. So let's get started with the highlights of the quarter. This quarter to a large extent was a continuation of our strategy, which we have mentioned to you in the past. Our strategy has been focused on global growth and growing our recurring revenue streams. We continue to see strong global growth, good business momentum, strong cash flow, and growth of our recurring revenues, which now makes up almost a third of our total revenues. The underlying profit development continues to be great as well, but the bottom line P&L numbers were ironically punished by the increase in share price, which we've seen lately. This share price movement impacts our incentive costs, which we will come back to in a while. In terms of user growth, we continued very well. We crossed 450 million users on April 1st this year, and we continue to grow steadily in all regions. Our biggest income stream advertising continued to show growth for the third quarter in a row. Direct sales of advertisements, which is a focus area for us, improved very well. And even though cricket-related advertising revenues from the Indian Premier League were slightly lowered this year, Our enterprise offering, Truecall for Business, grew revenues with a stunning 60% year-on-year. ...