Truecaller performance soars in Q3 2021 with 129% rise in revenue

Much like Microsoft and Alphabet, Swedish mobile phone directory and caller identification service Truecaller has had a fruitful third quarter in 2021. The company saw its revenue increase by a humongous 129%, while its adjusted EBITDA margin came at 37.6%.

This is the first earnings report for Truecaller after it went public and was listed on NASDAQ Sweden earlier this month.

The third quarter of the year saw Truecaller pocket SEK 312.8 million in revenue, an increase of 129% when compared to Q3 2020. During the first three quarters, Truecaller earned SEK 737.6 million in revenue, an increase of 141% when compared to the same period in 2020. Its adjusted EBITDA came at SEK 117.7 million in Q3 2021 and SEK 273.6 million in the first three quarters. Its profit after tax came at SEK 2.3 million, while its basic earnings per share (EPS) came at SEK 0.01.

“We see a continued strong growth trend both in terms of users and revenue during the third quarter and we are very proud of the momentum we have managed to achieve. Operating revenue amounted to SEK 312.8 (136.5) million in the quarter and the average number of monthly active users was 292 million. Truecaller is the leading service for verifying calls and messages between people and companies and is the fastest growing platform in emerging markets in Asia, the Middle East, and Africa”, Alan Mamedi, CEO of Truecaller, said.

Truecaller clocked a rise of 20% in monthly active users Geographically, its revenue in Q3 2021 grew by 111% in India, 291% in the Middle East and Africa, and 139% in the rest of the world. In the first three quarters of 2021, its revenue grew by 142% in India, 165% in the Middle East and Africa, and 113% in the rest of the world.

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