Truecaller Cuts 70 Jobs Amid Revenue Dips: A Closer Look at the Caller ID Giant’s Struggles

Truecaller Cuts 70 Jobs Amid Revenue Dips: A Closer Look at the Caller ID Giant’s Struggles

In a significant move, Swedish-based caller ID company Truecaller announced plans to cut 70 jobs in the second quarter of this year. This decision comes as the company reports a decline in revenue and profits for Q1 2026. The reduction represents approximately 15% of its workforce.

According to Truecaller CEO Rishit Jhunjhunwala, the company is grappling with several issues, including real-money gaming in India, changes in advertising partner algorithms, and conflicts in the Middle East. These factors have contributed to a 27% drop in net sales to 362 million SEK ($39.34 million). In its largest market, India, Truecaller saw a 41% year-on-year decline in net sales.

The company's ad revenues also took a hit, declining by an alarming 44%. Jhunjhunwala explained during the earnings call that these declines were particularly pronounced due to the Indian government’s ban on real-money gaming apps like Dream 11 and MPL. The shutdown of these platforms deprived Truecaller of significant advertising revenue.

Truecaller is not alone in its challenges. Competition from India's telecom-led solutions, such as Calling Name Presentation (CNAP) identification services, has put pressure on the company. Additionally, last year saw a 5% year-on-year decline in downloads.

Despite these challenges, Truecaller had some positive developments. The company crossed the milestone of 500 million active users and saw its subscription revenue increase by 27%, which now accounts for 31% of net sales. To make its paid offerings more attractive, Truecaller has introduced features like AI Assistant and Family Protection.

Truecaller's stock has been on a downward trajectory this year, dipping over 26%. However, after the Q1 results, there have been some signs of recovery.