Caller ID app company Truecaller has announced plans to cut around 70 jobs, which is about 15% of its workforce, following a difficult first quarter in 2026. The Sweden-based company reported lower revenue and profits, mainly due to falling advertising income.
Truecaller said several factors affected its business, including the shutdown of real-money gaming apps in India, changes to advertising algorithms from partners, and ongoing conflict in the Middle East. India remains the company’s largest market, but sales there dropped sharply during the quarter.
Overall net sales fell by 27% to 362 million Swedish kronor (about $39 million), while ad revenue dropped by 44%. In India alone, revenue declined by 41% compared to the same period last year.
The company explained that last year’s earnings were boosted by advertisements from fantasy gaming apps during the IPL cricket season. However, after India banned several real-money gaming platforms in 2025, many companies stopped spending heavily on ads.
Truecaller is also facing growing competition from telecom-based caller identification services in India, while app downloads have been declining. Despite the setbacks, the company said it recently passed 500 million active users worldwide.
One bright spot for Truecaller was its subscription business, which grew by 27%. The company has been adding paid features like AI Assistant and Family Protection to encourage more users to subscribe.
Truecaller’s stock has fallen heavily over the past year, though shares showed slight improvement after the latest earnings report.
