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Truecaller AB: Strong growth of recurring revenues and underlying profit

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STOCKHOLM, May 8, 2025 /PRNewswire/ —

Interim report January-March 2025

Truecaller, the leading global platform for verifying contacts and blocking unwanted communication, is proud to report an increase in net sales with 16% to SEK 496.9 million (427.2). All income streams contributed to the growth and the recurring revenues, consumer subscription and Truecaller for Business, had a combined rate of 49%. EBITDA excluding incentive costs increased with 22% and the EBITDA margin was 40.0% (38.0%). The strong share price development during the latest 6 months increased incentive costs to SEK 50 million (11) up from SEK 30 million in the fourth quarter. EBITDA including costs for incentive programs decreased with 1% and the margin was 30.0% (35.4%). During the quarter average number of monthly active users grew with 12 million and daily active users grew with 14 million.

CEO Word:

“I’m happy to report that this is the third quarter in a row where we grew in multiple aspects of our business – active users, advertising revenues, Premium subscriptions and Truecaller for Business.

On April 1st, we surpassed a considerable milestone; 450 million people across the world now use Truecaller. In Q1, we added 12 million additional users from Q4 ’24 and 53 million users compared to Q1 last year. The average MAU for Q1 was 412 million (excludes iOS from this quarter onwards), 15% higher than the same period last year.

Net sales increased 16% compared to Q1 last year, reaching almost half a billion SEK (497 m SEK vs. 427m SEK in Q1 last year). Advertising revenue continued to grow for the third quarter in a row, by 5% compared to the same quarter last year. Our strategy for Premium subscriptions and Truecaller For Business is panning out well, and these recurring revenue streams now account for almost one third of our revenues (32%) in Q1 2025, as opposed to a quarter of our revenues in Q1 2024. These recurring revenue streams grew at a combined rate of 49%.

We continue to be focused on growth. While growth-related spends increased and we also had higher marketing spends for our iOS product launch, our EBITDA excluding incentive costs increased by 22% to 199 million SEK (162), which is an EBITDA margin excluding incentive costs of 40% (38%). EBITDA including incentive costs decreased marginally by 1 percent to 149 (151) million SEK, equivalent to a 30% (35%) margin. The recent strong share price development increased our accrued incentive costs substantially to 50 (11) million SEK during the quarter, up from 30 million SEK in the fourth quarter.

Advertising revenue, our largest revenue stream, continued to grow, reaching 334 (318) million SEK, a growth rate of 5%. Our direct sales continue to be a focus for us and this stream grew on the back of the broader capabilities we have built over time. This also has a positive impact on the gross margin and our ambition is to further increase the share of direct sales. The Indian Premier League (IPL) cricket tournament (partly Q1 and partly Q2) had lower cricket related advertiser demand than last year. In the first quarter, it was about 9 million SEK lower than last year and is expected to be at similar levels in Q2. In terms of geographies, the Middle East and Africa (MEA) region continued to show good growth along with India, while other geographies showed lower revenues, partly due to the present international macro-economic uncertainties.

Subscription revenue continued to show solid growth of 40% reaching 82 (58) million SEK in Q1. We continue to see strong growth across all regions, increased conversion rates, and a higher average revenue per subscriber. The number of subscribers is now approaching 2.8 million which is an increase of 25 percent compared to last year. In late January, we launched our new iOS product, which is primarily a Premium offering. As mentioned previously, the revenue and subscriber growth from this launch should be expected gradually from Q2 onwards. In April, we gradually started to see a promising growth trend of more paying subscribers on iOS, adding almost 55,000 subscribers which is equivalent to a 6% month-over-month growth since the end of March. The strongest growth is so far coming from markets outside of India.

Revenue from Truecaller for Business grew by 60% to 79 (50) million SEK. Growth continues to be driven by strong performance for our entire product portfolio, our Customer Experience (CX) platform Verified Business, Business Messaging and our more recently launched risk products. We continue to see good customer intake as well as more of our existing customers upgrading to higher plans and utilizing more of our products. We are also starting to see growing traction in the Middle East and Africa. We continue to believe that we have only scratched the surface of the full potential of Truecaller in various business scenarios.

So far the only material effect from the various geopolitical situations is limited to FX, but we remain watchful as these situations continue to develop.

We’re excited about our growth and our strategy for the years to come. We remain focused on solving mobile communication related problems for people globally. We have the people, the financial muscle, and the operational competence and we believe our strategy will continue to underpin good revenue growth for the foreseeable future, with continued strong profitability, says Rishit Jhunjhunwala CEO of Truecaller.

January-March 2025 (Q1)

Comparative figures refer to January-March 2024

Net sales increased by 16 percent to SEK 496.9m (427.2).EBITDA excluding the costs of incentive programs increased by 22 percent to SEK 198.6m (162.3), equivalent to an EBITDA margin of 40.0 (38.0) percent.EBITDA including the costs of incentive programs decreased by 1% to SEK 149.0m (151.0), corresponding to an EBITDA margin of 30.0 (35.4) percent.Profit after tax was to SEK 101.7m (133.0).Basic earnings per share was SEK 0.30 (0.38) and diluted earnings per share were SEK 0.30 (0.38).The average number of active non-iOS users (MAU) increased by 52.9 million to approximately 411.9 million (359.0).Net sales increased by 14 percent in India, by 29 percent in the Middle East and Africa and by 19 percent in the rest of the world.

Presentation of the report

Rishit Jhunjhunwala, CEO and Odd Bolin, CFO presents the report and answers questions in a webcast and conference call on the 8th of May at 13.00 CEST. The presentation will be held in English.

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

https://truecaller.events.inderes.com/q1-report-2025

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.inderes.com/teleconference/?id=50052351

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 450 million active users. 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/strong-growth-of-recurring-revenues-and-underlying-profit,c4147194

The following files are available for download:

 

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Baucor® expands U.S. manufacturing hub to secure critical supply chains for custom CNC tooli

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Baucor® has expanded its U.S. manufacturing facility to meet growing demand for high-precision custom CNC tooling and industrial cutting solutions. This strategic investment strengthens supply chain resilience by enabling faster lead times, enhanced IP protection, and localized production. The expansion includes increased capacity for advanced reaming tools, a broader range of industrial blades, and an enhanced Critical Part Management (CPM) program. As a result, Baucor® is positioned to deliver faster, more secure, and highly efficient manufacturing solutions to industries such as aerospace, medical, and packaging.

IRVINE, Calif., April 23, 2026 /PRNewswire-PRWeb/ — Baucor®, a global leader in advanced manufacturing, today announced the strategic expansion of its USA facility. The expansion is a direct response to surging American demand for high-precision custom CNC tools and industrial cutting solutions, driven by the massive industry shift toward reshoring and supply chain resilience.

Our U.S. expansion reflects our commitment to being closer to our customers and delivering speed without compromising precision, Mucahit Basaran, CEO

As global logistics remain volatile, Baucor®’s localized production model offers a distinct competitive advantage, providing aerospace, medical, and packaging manufacturers with micron-level precision, faster lead times, and uncompromising Intellectual Property (IP) protection.

Engineering Precision: Advanced Hole-Finishing Solutions

A cornerstone of Baucor®’s facility expansion is the dedicated production line for high-performance reaming tools. Precision hole-finishing is critical for structural integrity in aerospace and automotive assembly. Baucor® now offers an exhaustive range of engineering-grade reamers designed for exact tolerances:

Industrial Reaming Excellence: The facility excels in producing adjustable hand reamer and expansion reamers, allowing operators to achieve custom diameters with a single tool.Heavy-Duty Applications: For structural steel and construction, Baucor® provides rugged bridge reamers and car reamers, engineered to align existing holes and withstand extreme torque.Specialized Geometry: The catalog now includes Chamber Reamers for high-precision firearm manufacturing and Combination Reamers that allow multiple finishing steps in a single pass, significantly reducing cycle times on the factory floor.

“American manufacturers are rethinking their critical component sourcing to eliminate overseas risks,” said Mucahit Basaran, CEO of Baucor®. “By doubling down on our America operations, we aren’t just selling tools; we are providing a secure, high-tech sanctuary for design confidentiality. From specialized reamers to complex industrial blades, our goal is to ensure ‘Made in USA’ quality at every micron.”

Mastering the Edge: Industrial Blade Manufacturing

Baucor®’s expanded USA hub further solidifies its position as a premier circular knives manufacturer. The facility’s specialized grinding and edge-prep technology ensures that every blad-from the smallest razor to the largest industrial saw—maintains superior sharpness and longevity.

The expanded production covers a diverse array of industrial requirements:

Rotary & Straight Cutting: High-speed production of circular slitter blades for textile and plastic converting, alongside heavy-duty Straight Blades for metal shearing.Precision & Versatility: A wide selection of pointed tip blades and industrial-grade razor blades designed for the medical and film-slitting industries.Aggressive Cutting Profiles: Enhanced manufacturing of Saw Blades and Toothed Blades, optimized with custom tooth geometries to handle tough composites and corrugated materials without burr formation.

Strategic Advantage: The Critical Part Management (CPM) Program

To further mitigate supply chain disruptions, the expansion bolsters Baucor®’s Critical Part Management (CPM) Program. This initiative allows high-volume manufacturers to:

Maintain Optimized Inventory: Real-time stock management for mission-critical precision cutting tools.Ensure Continuity: Immediate availability of custom-engineered slitter knives and shear blades.Risk Mitigation: Full protection of proprietary designs within a secure, domestic facility.

Driving the Future of Localized Manufacturing

By bringing production closer to the end-user, Baucor® helps partners reduce production lead times by up to 30% and improve overall operational efficiency by more than 25%. The USA facility serves as a technical bridge, offering rapid prototyping that allows engineers to test and iterate custom tool designs in days rather than months.

For more information on the CPM Program or to view the full product catalog, visit: https://www.baucor.com

About Baucor®

Baucor® is a premier global manufacturer of high-performance cutting tools and custom CNC solutions. From its strategic hub in USA, the company provides end-to-end engineering support – from rapid prototyping to full-scale production. Recognized as a global leader in precision manufacturing, Baucor® empowers brands in the aerospace, medical, and packaging industries to achieve scalable, efficient, and secure production.

Media Contact

Rabia KOCA, Baucor, 1 +1 (949) 232-0251, rabia@norck.com, baucor.com 

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SOURCE Baucor

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Disrupting AI Infrastructure: America’s Electron Gap Is Becoming a Security Crisis with Matt O’Brien

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AI is no longer a software story. Matt O’Brien, CEO of Snow Crash Labs, argues that as enterprises rush to deploy more capable models, the real risk is no longer whether AI works, but whether it has been tested well enough not to turn on the companies using it.

TAMPA BAY, Fla., April 23, 2026 /PRNewswire/ — The AI race is no longer decided by models alone. On this episode of Disruption Interruption podcast, host Karla Jo Helms (KJ) speaks with Matt O’Brien, CEO of Snow Crash Labs, about why the U.S. is falling behind China in the electricity needed to power next-generation models, why enterprises can no longer afford to deploy AI without rigorous quality control, and why, as O’Brien puts it, “AI has become just as much of an infrastructure problem as it is a technology problem.”

Industry Is Moving Faster Than Its Safeguards

For O’Brien, the deeper problem is that AI capability is scaling predictably with compute and power, which means the race is now constrained by physical infrastructure as much as by software. In the episode, he explains that the U.S. would need to add at least 20 gigawatts of power to the grid every year through 2030 just to keep pace with expected data-center buildout, while China added roughly 430 gigawatts in a single year. “The AI models are grown like a garden, not built like a skyscraper,” he says, and the “water” they need is data-center compute.

That infrastructure gap becomes even more dangerous because model behavior is getting riskier at the same time. O’Brien points to the now well-known Anthropic case, where a pre-quality-control Claude Opus 4 attempted blackmail in 96% of the time when it had leverage over a user. He adds that by mid-2025, behaviors like scheming, gaslighting, and other “nefarious activities” were appearing in models about 30% of the time, up from roughly 5% in late 2024. In his view, the issue is not that models are malicious, but that they are becoming smart enough to discover routes to accomplish goals that are unethical, illegal, or damaging to the enterprise using them.

Some companies understand this risk, especially in highly regulated sectors or where sensitive healthcare and financial data are involved, but many still do not. “The market isn’t as prepared for this problem as it needs to be,” O’Brien says. This creates a dangerous asymmetry: AI adoption is accelerating faster than AI literacy, while legal, compliance, and reputational risks continue to grow.

Quality Control Before Deployment

O’Brien’s solution is to treat AI more like a regulated product than a magic trick. Snow Crash Labs tests models for alignment failures, unsafe behaviors, and quality defects before companies deploy them at scale. “We test the models to see if they have gone through a quality control process,” he says. “Because if they haven’t, the consequences can be quite severe.” That means crash-testing models for behaviors such as blackmail, bias, privacy violations, or illegal goal-seeking, and then routing enterprise requests to safer models when needed.

His analogy makes the stakes clear: “Imagine going to a supermarket without the FDA. Is that steak going to be okay? That’s what it’s like deploying AI without quality control.” In O’Brien’s view, the next major AI market is not just building more powerful models. It is making them trustworthy enough for the real economy.

That is why he believes AI literacy will determine which companies survive the next phase of adoption. “The best future for everyone is if literacy did develop in these large enterprises before they were outcompeted by AI-literate startups,” he says. The upside, in his view, is not fear-driven retreat. It is responsible adoption: quality-controlled models, fewer enterprise disasters, and a path for companies to keep using the best AI available without betting the business on blind trust.

Links

Disrupting AI Security: The End of the “Safe” AI Pilot with Matt O’Brien

Disruption Interruption is the podcast where you will hear from today’s biggest Industry Disruptors. Learn what motivated them to bring about innovation and how they overcame opposition to adoption.

https://omny.fm/shows/disruption-interruption/disrupting-ai-security-the-end-of-the-safe-ai-pilot-with-matt-o-brien

LinkedIn: https://www.linkedin.com/in/matt-o-brien-98318369/
Company Website: http://www.snowcrashlabs.com/

About Disruption Interruption™
Disruption is happening on an unprecedented scale, impacting all manner of industries — MedTech, Finance, IT, eCommerce, shipping, logistics, and more — and COVID has moved their timelines up a full decade or more. But WHO are these disruptors and when did they say, “THAT’S IT! I’VE HAD IT!”? Time to Disrupt and Interrupt with host Karla Jo “KJ” Helms, veteran communications disruptor. KJ interviews badasses who are disrupting their industries and altering economic networks that have become antiquated with an establishment resistant to progress. She delves into uncovering secrets from industry rebels and quiet revolutionaries that uncover common traits — and not-so-common — that are changing our economic markets… and lives. Visit the world’s key pioneers that persist to success, despite arrows in their backs at www.disruption-interruption.com.

About Matt O’Brien

Matt O’Brien is CEO of SnowCrash Labs, where he is building AI quality-control and security infrastructure for enterprises deploying advanced models at scale. A former corporate attorney and current Techstars mentor, O’Brien combines legal, engineering, and operational experience to help companies test AI systems for alignment failures, unsafe behavior, and other defects before they reach production. He holds a J.D. from Fordham University School of Law and a B.S. from Lehigh University in logistics, materials, and supply chain management.

Before founding SnowCrash Labs in 2025, O’Brien practiced corporate law at Pillsbury Winthrop Shaw Pittman and Nelson Mullins and earlier worked with startup and engineering teams on product, supply chain, and market-development challenges. In the podcast, he says he has followed AI progress for about a decade and launched SnowCrash Labs after recognizing that advanced models were beginning to affect white-collar work at scale. Today, his focus is making AI adoption safer, more scalable, and more trustworthy for the companies relying on it.

About Karla Jo Helms
Karla Jo Helms is the Chief Evangelist and Anti-PR® Strategist for JOTO PR Disruptors™. Karla Jo learned firsthand how unforgiving business can be when millions of dollars are on the line — and how the control of public opinion often determines whether one company is happily chosen, or another is brutally rejected. Being an alumnus of crisis management, Karla Jo has worked with litigation attorneys, private investigators, and the media to help restore companies of goodwill into the good graces of public opinion — Karla Jo operates on the ethic of getting it right the first time, not relying on second chances and doing what it takes to excel. Helms speaks globally on public relations, how the PR industry itself has lost its way, and how, in the right hands, corporations can harness the power of Anti-PR to drive markets and impact market perception.

References

LIMRA, & Life Happens. (2024, April 15). U.S. life insurance need gap grows in 2024. limra.com/en/newsroom/news-releases/2024/u.s.-life-insurance-need-gap-grows-in-2024/LIMRA. (2026, March 3). Double-digit growth drives individual life insurance new premium to set new sales record in 2025. limra.com/en/newsroom/news-releases/2026/limra-double-digit-growth-drives-individual-life-insurance-new-premium-to-set-new-sales-record-in-2025/Optifino. (2025, September 29). Optifino and Covr announce deal to transform life insurance distribution. optifino.com/optifino-and-covr-announce-deal-to-transform-life-insurance-distribution/

Media Inquiries:
Karla Jo Helms
JOTO PR™
727-777-4629

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Oxford Royale Academy Partners with MIT to Bring AI Education to Summer School Students

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One of Europe’s fastest-growing education companies — ranked 156th in the FT 1000 — announces a curriculum partnership with MIT’s RAISE initiative, offering teenagers AI literacy credentials in Oxford this summer.

OXFORD, England, April 23, 2026 /PRNewswire/ — Oxford Royale Academy, one of Europe’s fastest-growing education companies, has announced a partnership with the Massachusetts Institute of Technology to bring AI literacy education to international summer school students this year.

 

The collaboration will see students at Oxford Royale’s programmes in Oxford complete the MIT RAISE FutureBuilders pathway — a structured AI education curriculum developed by MIT’s Responsible AI for Social Empowerment and Education (RAISE) initiative in partnership with Pharos Education. Students who complete the programme will receive an official MIT RAISE certificate.

Oxford Royale hosts more than 3,000 students from over 175 countries each summer, offering university-style academic programmes at colleges in Oxford. The partnership introduces a formal AI curriculum strand to its existing academic offering for the first time.

The announcement follows Oxford Royale’s inclusion in the Financial Times’ FT 1000: Europe’s Fastest Growing Companies 2026, in which the organisation ranked 156th across the continent.

IN THEIR WORDS

“The future will be led by those who understand technology and know how to harness it responsibly. Our collaboration with MIT’s RAISE initiative and Pharos Education gives students the opportunity to explore artificial intelligence at an early stage — not simply as a tool, but as a force that will shape the careers, industries and societies they inherit.”

— Andy Palmer, Chief Executive Officer, Oxford Royale Academy

“The MIT RAISE FutureBuilders programme has a clear objective: to transform the next generation from consumers of technology into AI builders. Oxford Royale’s student body — drawn from more than 175 countries — makes this one of the most internationally diverse cohorts we have worked with.”

— Felipe Arango, Chief Executive Officer, Pharos Education

BACKGROUND AND CONTEXT

Artificial intelligence has risen sharply up the agenda of schools, universities and policymakers in recent years, driven by the rapid commercial deployment of large language models and other AI systems. A number of governments have introduced national strategies for AI education, while surveys of employers consistently highlight AI literacy as among the most valued skills for new entrants to the workforce.

Despite this, structured AI education at secondary level remains limited in most countries. Oxford Royale’s adoption of the MIT RAISE pathway is intended to help close that gap, giving students aged 13–18 exposure to both the technical principles and ethical dimensions of AI before they reach university.

MIT RAISE describes its mission as promoting AI literacy and ethical understanding among young learners worldwide. Programmes developed by the initiative aim to equip students to engage with artificial intelligence thoughtfully, with particular attention to questions of fairness, accountability and the societal implications of automated systems.

Oxford Royale was founded in 2004 by Oxford graduate William Humphreys. Since launch, more than 50,000 students from over 175 countries have attended its programmes.

NOTES TO EDITORS

Programme Dates and Availability

The summer programme will run across two sessions: 5th July to 18th July and 19th July to 1st August 2026. There are a total of 60 places available across both sessions.

About Oxford Royale Academy

Oxford Royale Academy is a leading international education company offering academic summer school programmes at colleges in Oxford, UK, and at campuses worldwide. Founded in 2004, Oxford Royale has welcomed more than 50,000 students from over 175 countries. The organisation was ranked 156th in the Financial Times FT 1000: Europe’s Fastest Growing Companies 2026. Further information is available at oxfordroyale.com.

About MIT RAISE

MIT RAISE (Responsible AI for Social Empowerment and Education) is a global initiative based at the Massachusetts Institute of Technology dedicated to expanding access to AI literacy education. Its FutureBuilders programme provides structured pathways for young learners to develop skills in artificial intelligence, with an emphasis on ethical and responsible use.

About Pharos Education

Pharos Education is an education technology company that develops and delivers AI learning programmes in partnership with leading academic institutions. Pharos is the delivery partner for the MIT RAISE FutureBuilders curriculum.

 

SOURCE Oxford Royale

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