Truecaller AB (publ) (TRUE_B) Q4 2025 Earnings Call

Investor webinar replay

Replay transcript excerpt

Hello, everyone, and welcome to our Q4 Report webcast. I'm Rishi Jhunjhunwala, the CEO of Truecaller, and with me I have Aud Bolin, our CFO. I'll talk about how we performed in the quarter in a few important areas. Then I'll hand over to Aude to talk about the financial performance. And after that, I'll talk about our next phase of growth. And then we'll open up for Q&A. So let's get started with the highlights of the quarter. The average MAO in Q4 was 454 million, which is a growth of 14% year on year. Growth has been steady all through the year, and we have increased our Dow-Mauer ratio during the year, reaching 86% by the end of 2025. Net sales decreased with 14% year-on-year in SEK. In constant currency, it was a decrease of 1%. EBITDA decreased by 49%, and we reported a margin of 23%. Excluding items of a one-off nature, our EBITDA margin was 30%. As you are aware, Our headline numbers during the year have been significantly negatively affected by the strengthening SEK, which is something Aud will cover more in detail in his presentation. Other notable highlights in this quarter were the sustained growth rate of recurring revenues. Excluding one-off items, we grew our recurring revenues with 46%, and the annualized run rate of our recurring revenues is now around 750 million SEK. Premium revenues show the strongest growth as we continue to grow both on iOS and Android. And this quarter, we reached an all-time high when it comes to subscriber intake on Android. And we're growing steady in all regions as more users understand the strength of our premium offering. Our other recurring revenue stream, Truecaller for Business, grew strongly in constant currency, and all three product areas, verified business, business messaging, and the risk products we have contribut...