Truecaller reduces workforce by 15% following revenue drop in Q1 2026

Sweden-based caller ID and communication platform Truecaller announced it will lay off 70 employees, representing approximately 15% of its workforce, during the second quarter of 2026. This decision follows the company’s Q1 financial results, which showed a 27% decline in net sales to 362 million SEK ($39.34 million) and a sharp drop in advertising revenue by 44%. Truecaller attributed these declines to several factors, including the ban on real-money gaming apps in India, changes in advertising algorithms from major partners, and geopolitical tensions in the Middle East. In India, its largest market, net sales fell 41% year-over-year, partly due to competition from telecom-driven identification services and a 5% drop in downloads. On a positive note, Truecaller surpassed 500 million active users and saw subscription revenue rise by 27%, now accounting for nearly a third of net sales. The company is enhancing its paid offerings with features such as AI Assistant and Family Protection to attract more subscribers. Truecaller’s stock has experienced a significant decline over the past year, but saw partial recovery after the Q1 results. Despite challenges, the company is focusing on expanding its subscription-based services and user engagement.