Call identification app reported that India accounted for 75.8% of its total net sales for the year, primarily through Truecaller for business, premium subscriptions, and advertisements.
The company also reported a 24% increase in EBITDA to SEK 169 million (Rs 135 crore) in Q4 2022, with an EBITDA margin of 39.7%. In addition, revenue from Truecaller for Business (TfB) increased by 42% to 49.6 million SEK (Rs 39.6 crore).
Truecaller’s AI assistant in India led to a 19% increase in paying users and a 23% increase in subscription revenue globally in the fourth quarter of 2022 due to its innovative features, the company reported.
In terms of customer adoption, the company said Q4 was Truecaller’s strongest quarter yet, with over 2,500 larger business customers and the trend towards higher-priced plans continuing.
Truecaller’s average monthly active users (MAU) increased by 36 million to approximately 374 million, out of which 259 million MAUs were in India alone in Q4 FY23.
Headquartered in Stockholm, Truecaller is a global platform that verifies contacts and blocks unwanted communication, enabling safe and relevant conversations for businesses and consumers, and addressing fraud and unwanted communication issues prevalent in digital economies.
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With over half a billion downloads since launch, Truecaller has identified and blocked 38 billion unwanted calls since 2021. It has been listed on Nasdaq Stockholm since October 8, 2021.
In October last year, it acquired Indian company Unoideo Technologies Pvt Ltd, offering fraud detection service TrustCheckr through a SaaS platform that helps businesses verify customer information and detect fraud risk based on phone numbers and digital signals.
With the new data protection legislation and new regulatory frameworks introduced in 2023, Truecaller plans to expand operations in India.
Edited by Megha Reddy
