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Truecaller: All-time high user growth and solid development of revenue and profits

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2 years ago

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Interim report January-September 2024

 STOCKHOLM, Nov. 6, 2024 /PRNewswire/ — Truecaller, the leading global platform for verifying contacts and blocking unwanted communication, is proud to report an increase in net sales with 15% to SEK 457.3 million (398.7). All income streams contributed to the growth. EBITDA increased with 15% to SEK 167.4 million (145.8) and the EBITDA margin was 36.6% (36.6%). During the quarter average number of monthly active users grew with 16 million which was an all-time high user growth in absolute terms.

Extract from CEO Word:

“Net sales increased by 15% in the third quarter compared to the same quarter last year, reaching SEK 457 million (SEK 399 million). All three of our revenue streams contributed to this growth. Our recurring revenues, including business and subscription income, grew by a combined 35% and now represents 29% (25%) of our total revenue. For the first time since Q4 2022, our advertising revenues showed underlying growth, rising by 8%. Currency effects had a negative impact on growth this quarter, but total revenue still exceeded the seasonally strong second quarter. Truecaller for Business, our business offering, increased revenues by 48% to SEK 65.8 million (SEK 44.4 million) and now represents nearly 15% of total revenue. Subscription revenue continues to grow steadily, reaching SEK 67.3 million (SEK 53.9 million) in the quarter, a 25% increase.

EBITDA also increased by 15% to SEK 167 million (SEK 146 million), despite increased investments in user growth and the aforementioned negative currency effects. Profitability remained stable, with an EBITDA margin of 37% (37%).

In the fourth quarter, we will launch the largest product improvement so far for Truecaller on iOS. The key changes will enable us to offer the same type of caller identification and spam blocking on iOS as on Android. Our commercial strategy for the new product will primarily position it as a subscription product. This means functionality in the free version will be limited, and the number of iOS users may decrease, but revenue from iOS could increase significantly.

In Q3, we achieved our highest increase in user numbers to date, adding 16 million new monthly users. The number of monthly active users averaged 413 million, an increase of 46 million year-on-year. Growth is broad-based, occurring across multiple countries and regions.

We are approaching half a billion users, and I am convinced we can reach one billion users within a few years. We are one of the very few companies globally whose product has managed to attract hundreds of millions of people. By doing that we have put Sweden on the world map, that accomplishment is something my co-founder Nami and I are incredibly proud of”, says Alan Mamedi CEO of Truecaller. 

July-September 2024 (Q3)

Comparative figures refer to July-September 2023

•        Net sales increased by 15 percent to SEK 457.3m (398.7).

•        EBITDA increased by 15% to SEK 167.4m (145.8), corresponding to an EBITDA margin of 36.6 (36.6) percent. Excluding the costs of incentive programs, EBITDA would have been SEK 187.3m (161.5), equivalent to an EBITDA margin of 41.0 (40.5) percent.

•        Profit after tax amounted to SEK 117.8m (105.0).

•        Basic earnings per share was SEK 0.34 (0.29) and diluted earnings per share were SEK 0.34 (0.29).

•        The average number of active users (MAU) increased by 45.5 million to approximately 413.5 million (368.0).

•        Net sales increased by 12 percent in India, by 27 percent in the Middle East and Africa and by 18 percent in the rest of the world.

January-September 2024

Comparative figures refer to January-September 2023

•        Net sales increased by 3 percent to SEK 1340.4m (1304.2).

•        EBITDA amounted to SEK 483.1m (534.4), corresponding to an EBITDA margin of 36.0 (41.0) percent. Excluding the costs of incentive programs, EBITDA would have been SEK 526.5m (572.3), equivalent to an EBITDA margin of 39.3 (43.9) percent.

•        Profit after tax amounted to SEK 373.9m (420.1).

•        Basic earnings per share were SEK 1.08 (1.16) and diluted earnings per share were SEK 1.08 (1.16).

•        The average number of active users (MAU) increased by 42.1 million to approximately 398.1 million (356.0).

•        Net sales increased by 16 percent in the Middle East and Africa and by 21 percent in the rest of the world and decreased by 2 percent in India.

Presentation of the report

Alan Mamedi, CEO and Odd Bolin, CFO presents the report and answers questions in a webcast and conference call on the 7th of November at 13.00 CET. The presentation will be held in English.

If you wish to participate via webcast please use the link below.

https://ir.financialhearings.com/truecaller-q3-report-2024/register

If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference.

https://conference.financialhearings.com/teleconference/?id=50047240

For more information, please contact:

Odd Bolin, CFO

investors@truecaller.com

Andreas Frid, Head of IR & Communication

+46 705 29 08 00
andreas.frid@truecaller.com

This information is information that Truecaller is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, at the time stated by the Company’s news distributor, Cision, at the publication of this press release.

About Truecaller:
Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies. especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 420 million active users, with more than a billion downloads since launch and around 50 billion unwanted calls identified and blocked in 2023. Headquartered in Stockholm, since 2009, we are a co-founder led. entrepreneurial company. with a highly experienced management team. Truecaller is listed on Nasdaq Stockholm since 8 October 2021. For more information. please visit corporate.truecaller.com

 

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/truecaller-ab/r/all-time-high-user-growth-and-solid-development-of-revenue-and-profits,c4062301

The following files are available for download:

https://mb.cision.com/Main/20429/4062301/3098410.pdf

Read Truecaller’s interim report for January-September 2024

https://mb.cision.com/Public/20429/4062301/9841499d9fe27e66.xlsx

Financial development Truecaller Q3 2024

https://news.cision.com/truecaller-ab/i/q3-report-2024-eng,c3349427

Q3 Report 2024 eng

View original content:https://www.prnewswire.com/news-releases/truecaller–all-time-high-user-growth-and-solid-development-of-revenue-and-profits-302297863.html

SOURCE Truecaller AB

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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

Published

46 minutes ago

on

October 25, 2026

By

Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

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ST Engineering iDirect and MBSat Partner to Build Next-Generation Sovereign Connectivity Services Across Oman and the Middle East

Published

46 minutes ago

on

October 25, 2026

By

Intuition ground system selected to support MBSat’s planned 2027 service launch, enabling accelerated deployment, dynamic resource management and scalable service growth

HERNDON, Va., Oct. 25, 2026 /PRNewswire/ — ST Engineering iDirect today announced a strategic partnership with Mohammed Al Barwani Satellite Company (MBSat), part of Mohammed Al Barwani Group, to provide the ground system technology foundation for MBSat’s next-generation satellite gateway and network operations across Oman and the wider Middle East region. Intuition will provide a flexible, software-defined foundation to support sovereign connectivity services, enabling efficient service deployment, dynamic resource management and scalable network operations.

Intuition will deliver a turnkey ground segment solution that accelerates deployment, simplifies operations and gives MBSat the flexibility to scale services as demand grows. The software-defined platform enables dynamic resource management, service automation and seamless integration with existing and future operational systems. The solution also includes Ka-band gateway infrastructure, service provisioning and management capabilities, open API integration frameworks, training and full-lifecycle support. Together, these capabilities will help MBSat launch and operate services efficiently while adapting to evolving market requirements.

The network will leverage capacity from MB Sat-1, a sovereign MicroGEO satellite, with planned service launch in 2027, to support flexible, scalable connectivity services across the region.

The partnership reflects growing investment in sovereign communications infrastructure across the Middle East as operators seek greater control over service delivery, network expansion and long-term technology evolution.

“This partnership represents an important milestone in our efforts to build an advanced satellite communications platform in Oman and the region,” said Ammar Al Rawahi, General Manager, MBSat. “Through our collaboration with ST Engineering iDirect, we are establishing the technical infrastructure required to launch services efficiently, respond to evolving customer needs and expand into new markets, supporting the sustainable long-term growth of our business.”

“We are providing MBSat with a flexible, software-defined ground platform that integrates with its existing operational environment,” said Sridhar Kuppanna, Chief Executive Officer, ST Engineering iDirect. “This enables more efficient service deployment and operations today, with the flexibility to scale, introduce new capabilities and evolve as requirements change.”

About ST Engineering iDirect

ST Engineering iDirect, a subsidiary of ST Engineering, is a global leader in satellite communications, providing technology and solutions that enable its customers to expand their business, differentiate their services and optimize their networks. Through its portfolio of ground infrastructure, intelligent networking and advanced satellite communications solutions, the company supports operators, service providers, governments and enterprises worldwide.

View original content to download multimedia:https://www.prnewswire.com/news-releases/st-engineering-idirect-and-mbsat-partner-to-build-next-generation-sovereign-connectivity-services-across-oman-and-the-middle-east-302918467.html

SOURCE ST Engineering iDirect

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Global Security & Technology Summit Unveils Month-Long Program of Activities Ahead of December Event

Published

8 hours ago

on

October 24, 2026

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RIYADH, Saudi Arabia, Oct. 24, 2026 /PRNewswire/ — The Organizing Committee of the Global Security & Technology Summit (GSTS) held an introductory session today at the Ministry of Interior’s headquarters in Riyadh, bringing together representatives from the government, private, and nonprofit sectors to introduce the program of activities leading up to the summit. The upcoming summit will be held in Riyadh under the patronage of HRH Prince Mohammed bin Salman bin Abdulaziz Al Saud, Crown Prince and Prime Minister, under the supervision of HRH Prince Abdulaziz bin Saud bin Naif bin Abdulaziz Al Saud, Minister of Interior, and organized by the Ministry of Interior in cooperation with Tuwaiq Academy.

During the session, the Organizing Committee presented the comprehensive GSTS program, comprising three key components: GSTS Month, running from November 1 to 30, 2026; the Global Security & Innovation Fair (SAIF), taking place from November 24 to 26, 2026; and the main Summit, scheduled for December 18 to 20, 2026, in Riyadh. Together, these events form an integrated program designed to advance security and technology innovation, strengthen national capabilities, and foster international cooperation.

GSTS Month will feature working groups, boot camps, training programs, knowledge-sharing sessions, and technical workshops across Saudi Arabia’s 13 administrative regions, delivered both in person and remotely in collaboration with specialized entities. The month-long program aims to develop national capabilities, identify emerging talent, enrich knowledge-sharing opportunities, and equip professionals with the knowledge and skills needed to develop innovative solutions to future security and technology challenges.

The main Summit will bring together global leaders, decision-makers, experts, and innovators to explore the future of security and technology, promote the integration of advanced technologies within the security sector, strengthen national capabilities, support innovation, and foster international cooperation, further positioning the Kingdom as a global hub for security and technology.

Showcasing the latest technological breakthroughs and security solutions, the summit will bring together government entities, private sector organizations, academic institutions, and research centers to facilitate knowledge exchange and collaboration across key fields, including cybersecurity, artificial intelligence (AI), the Internet of Things (IoT), smart security solutions, emerging technologies, and crisis management. The program will also feature main sessions, specialized discussions, and interactive exhibitions. Registration is available at gsts.sa.

Advisor to HRH the Minister of Interior and Chairman of the GSTS Organizing Committee, Ahmed Altowayan, stated that the summit builds on Saudi Arabia’s efforts to establish an advanced security and technology ecosystem focused on knowledge and innovation, keeping pace with rapid developments and future challenges.

Mr. Altowayan noted that the summit is a global platform for strengthening cooperation and exchanging expertise, anticipating future developments in security and technology, and developing strategic partnerships and innovative solutions that enhance the efficiency and readiness of security systems.

Vice Chairman of the GSTS Organizing Committee, Eng. Abdulaziz Alhammadi, said that the summit will offer a range of integrated programs and activities focused on enhancing national skills, encouraging innovation, and supporting international cooperation.

He added that GSTS Month will help build national capabilities, discover talent, and develop skills, with SAIF providing a platform for innovators and researchers from around the world to showcase leading technological solutions, while the main Summit will bring together leaders and experts to discuss the future of security and technology and explore new strategic partnership opportunities.

SAIF will take place at the Riyadh International Convention & Exhibition Center, bringing together innovators, researchers, technology talents, and industry experts from around the world to showcase promising innovations and projects across 14 fields of technology and innovation. The fair will provide opportunities to engage with project owners, including students, graduates, and entrepreneurs, and explore the different stages of innovation development through interactive zones, panel discussions on emerging security and innovation trends, and knowledge-sharing workshops led by specialists. Visitor registration is open to participants from within and outside the Kingdom through saifair.sa.

The introductory session also featured contributions from representatives of government, private, and nonprofit sector entities, alongside members of the media. Discussions focused on developing national capabilities in security and technology, strengthening students’ technical expertise, translating scientific research into practical solutions, and supporting Saudi companies in developing security and technology solutions and advancing digital transformation.

Organized by the Ministry of Interior in cooperation with Tuwaiq Academy, GSTS is produced by Tahaluf, with the Ministry of Education serving as Strategic Scientific Partner, Tahakom as Founding Partner, and Elm as Principal Partner.

Registration for participants from within and outside the Kingdom is available at gsts.sa.

Click here to view the media kit. 

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