- ByStartupStory | February 20, 2024
Call identification app Truecaller revealed that India contributed 75.8% of its total net sales for the year, primarily driven by Truecaller for business, premium subscriptions, and advertisements. The company also disclosed a 24% rise in EBITDA to SEK 169 million (Rs 135 crore) in Q4 2022, with an EBITDA margin of 39.7%. Additionally, revenue from Truecaller for Business (TfB) surged by 42% to 49.6 million SEK (Rs 39.6 crore).
According to Truecaller, its AI assistant in India spurred a 19% increase in paying users and a 23% surge in subscription revenue globally in Q4 2022. The company attributed this growth to its innovative features. Truecaller emphasized that Q4 marked its strongest quarter yet in terms of customer adoption, with over 2,500 larger business customers and a trend towards higher-priced plans.
Truecaller reported a notable increase in average monthly active users (MAU) by 36 million to around 374 million, with 259 million MAUs in India alone in Q4 FY23. The company underscored its role as a global platform that verifies contacts, blocks unwanted communication, and facilitates safe conversations for businesses and consumers, addressing prevalent issues of fraud and unwanted communication in digital economies.
Truecaller highlighted its significant impact, having identified and blocked 38 billion unwanted calls since 2021, with over half a billion downloads since its launch. Listed on Nasdaq Stockholm since October 8, 2021, Truecaller expanded its capabilities through the acquisition of Indian company Unoideo Technologies Pvt Ltd in October last year. This acquisition bolstered Truecaller’s fraud detection capabilities through the TrustCheckr SaaS platform.
Regarding its future plans, Truecaller aims to leverage new data protection legislation and regulatory frameworks introduced in 2023 to further expand its operations in India.
