Sweden-based caller identification platform Truecaller has announced plans to cut about 70 jobs, representing roughly 15% of its workforce, after reporting a sharp decline in revenue and profitability in the first quarter of 2026.

The company disclosed the planned layoffs alongside its Q1 2026 earnings report, citing weakening advertising revenues, India’s crackdown on real-money gaming, changes to advertising partner algorithms, and ongoing tensions in the Middle East as key factors behind the downturn.

Truecaller’s net sales for the quarter fell 27% year-on-year to 362 million Swedish krona (approximately $39.3 million), while revenue from its largest market, India, dropped by 41%.

Advertising revenue, one of the company’s biggest income sources, also declined significantly, falling 44% during the period.

Speaking during the earnings call, Truecaller CEO Rishit Jhunjhunwala said the year-on-year comparison appeared especially weak because the company had benefited heavily from advertising spending by India’s real-money gaming sector during the 2025 Indian Premier League (IPL) season.

“The year-on-year comparison looks especially weak given that Q1 and Q2 last year included a large contribution coming from the real money gaming sector in India in connection with the IPL season that takes place around this time. The situation in the Middle East also reduced our revenues from that region,” he said.

India last year tightened restrictions on real-money gaming platforms such as Dream11 and MPL, which allow users to wager money on fantasy sports and online gaming activities.

Industry estimates previously valued India’s real-money gaming market at about $23 billion, making it a major advertising segment for digital platforms like Truecaller.

The company also attributed part of the advertising revenue decline to changes implemented by one of its major programmatic advertising partners.

Analysts previously identified the partner as Google, whose algorithm adjustments reportedly affected ad performance and monetisation.

Truecaller is also facing growing competition in India from telecom-led caller identification services, particularly Calling Name Presentation (CNAP), which allows telecom operators to display caller identities directly through mobile networks.

The company had earlier reported a 5% year-on-year decline in app downloads amid rising competitive pressure.

Despite the weak earnings, Truecaller recorded several milestones during the quarter.

The platform surpassed 500 million active users globally, while subscription revenue rose 27% year-on-year and accounted for 31% of total net sales.

The company has continued expanding its premium offerings with features such as AI Assistant and Family Protection in a bid to strengthen paid subscriptions and reduce dependence on advertising income.

Truecaller’s stock has fallen more than 26% since the start of the year and is down over 79% over the past 12 months, although shares posted a modest recovery after the release of the Q1 results.

Last year, while announcing that it had crossed 500 million users, the company said it added more than 50 million users in 2025 and surpassed 150 million users outside India.

Truecaller also revealed earlier this year that it had crossed 4 million paying subscribers globally, further strengthening one of its key revenue streams.

In 2024, the company said it was recording its fastest growth in emerging markets across Africa and Latin America, highlighting strong user acquisition in countries including Nigeria, Kenya, South Africa, Malaysia, and the United States.

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Truecaller has finally introduced  real-time caller identification and spam blocking on iOS 18, bridging the gap in functionality that previously favored Android users. The update utilizes Apple’s cutting-edge Live Caller ID Lookup framework, ensuring secure retrieval of caller information without compromising user privacy, thanks to advanced encryption protocols.

Truecaller CEO, Rishit Jhunjhunwala, expressed excitement about the development, stating, “We are thrilled to bring the full power of Truecaller to iPhone. Our iPhone user base has long sought parity with the Android experience, and this update delivers that and more while maintaining complete privacy for all calling activities.”

The update marks a turning point for iPhone users, granting them access to the same caller identification tools Android users have enjoyed for years. Truecaller’s global database, powered by sophisticated AI technology, ensures the accurate detection and blocking of spam and scam calls. Users can also search their call history to trace previously identified numbers, adding another layer of convenience and security.

Truecaller Premium users gain full access to these advanced features, while free users can still benefit from basic caller ID and number lookup for verified businesses. The company has also introduced a Premium Family plan, enabling users to share the app’s premium features with up to four additional people at a discounted rate.

This global rollout underscores the growing importance of iPhone users to Truecaller’s business strategy. With a higher conversion rate to premium plans among iOS subscribers compared to Android, the company recognizes the revenue potential of its expanding iPhone user base.

Truecaller’s move to enhance its services on iOS is not just about technological upgrades but also about reinforcing trust and delivering unmatched value to its users worldwide. As the company continues to innovate, this update cements its commitment to safeguarding communication across platforms.

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TRUECALLER has unveiled a new Artificial Intelligence solution that will alert users of scammers to protect them from fraud calls.

The firm noted that its new anti-fraud feature called Search Context was part of its AI Identity engine.

Explaining how the feature works, the firm, in a statement, said, “While looking at the search results for any number, Truecaller users will be instantly notified if the name for the number has been recently changed or is being changed frequently.

“The app also classifies this contextual message into three colour categories: blue, for a neutral change, yellow, which indicates a potentially suspicious name change and finally red, indicating multiple and frequent name changes, which are highly indicative of fraudulent and scammer activity. This message will be shown to all Truecaller users on all search results across Android, iPhone and Truecaller web.”

According to the firm, it currently has 356 million users globally and will continue to address the pressing issues surrounding the growth of global scams and frauds of all kinds.

The firm also announced a corporate rebranding and launching of a brand-new app icon.

It stated that the timing of the new identity aligned with the significant transformation taking place in the digital space.

The co-founder and Chief Executive Officer of Truecaller, Alan Mamedi, said, “We are excited to unveil our new brand identity and logo.

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