Truecaller AB (publ) (TRUE_B) Q3 2023 Earnings Call

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Replay transcript excerpt

WEBVTT 00:00:00.031 -- 00:00:05.697 Thank you. Welcome, everyone. I'm Alam Amedy, and I'm the CEO and co-founder 00:00:05.697 -- 00:00:10.042 of TrueColor. And with me, I have our CFO, Odd Bulleen. 00:00:10.042 -- 00:00:13.665 We're here to announce our interim report for the third quarter of 2023. 00:00:13.665 -- 00:00:15.627 So we'll 00:00:15.627 -- 00:00:20.773 start with presenting financial and business highlights, then go into 00:00:20.773 -- 00:00:25.458 some developments on the product side from the quarter. 00:00:25.458 -- 00:00:30.102 Odd will then walk you through our financial performance in more details. 00:00:30.102 -- 00:00:33.626 Then we'll wrap up and open up for questions. 00:00:33.626 -- 00:00:37.771 So let's get started with the highlights of the quarter. 00:00:37.771 -- 00:00:41.074 In Q3, our user growth continued to be strong. 00:00:41.074 -- 00:00:45.359 We closed Q3 with an average of 368 00:00:45.359 -- 00:00:50.603 million monthly active users and an increase of 11%. 00:00:50.645 -- 00:00:56.225 Average daily active users grew to 298 million, an increase of 14%. 00:00:56.225 -- 00:01:01.112 Our Dow to Mao ratio stayed at the high ratio, 81%. 00:01:01.112 -- 00:01:05.519 I'm very pleased with the increased growth, which lays the foundation for a long-term 00:01:05.519 -- 00:01:07.602 financial development. 00:01:07.602 -- 00:01:10.066 We closed the quarter at 399 00:01:10.066 -- 00:01:15.094 million Swedish crowns in net sales, an 11% decrease compared 00:01:15.094 -- 00:01:20.402 to the same quarter in 2022. This was due to lower income from ads, 00:01:20.402 -- 00:01:24.963 while consumer subscription and True Gold for Business continues to grow steadily. 00:01:24.963 -- 00:01:30.113 We report an adjusted EBITDA of 146 million Swedish crow...