Sequential growth across all revenue streams

Truecaller, the leading global platform for safe and trusted communication, report a decrease in net sales with 21% to SEK 393.2 million (496.4), the decrease in constant currencies was 14%. In constant currencies subscription revenues grew with 41%, revenues from Truecaller for Business increased with 8% while revenue from ads declined with 34%. Truecallers recurring revenues grew 26% year-over year in constant currencies and now accounts for 49% (33%) of total net sales. EBITDA excluding incentive costs decreased with 50% and the EBITDA margin was 26.9% (42.6%), in constant currencies the decrease was approximately 44%. Excluding one-off restructuring cost of SEK 23.5 million EBITDA decreased with 39% and the margin was 32.9%. EBITDA including costs for incentive programs decreased by 49% to SEK 88 million (173) and the margin was 22.4% (34.8%), in constant currencies the decrease was approximately 42%. During the quarter average number of monthly active users grew with 8 million.

Net sales decreased by 21 percent to SEK 393.2 million (496.4). Net sales in constant currencies decreased by approximately 14 percent. EBITDA excluding the costs of incentive programs decreased by 50 percent to SEK 105.8 million (211.6) equivalent to an EBITDA-margin of 26.9 (42.6) percent. In constant currencies the EBITDA decrease was approximately 44 percent. Excluding one-off restructuring cost of SEK 23.5 million EBITDA decreased with 39% and the margin was 32.9%. EBITDA including the costs of incentive programs decreased by 49 percent to 87,9 (172.8), corresponding to an EBITDA-margin of 22.4 (34.8) percent. In constant currencies the EBITDA decrease was approximately 42 percent. Profit after tax amounted to SEK 51.7 million (118.0). Basic earnings per share were SEK 0.16 (0.34) and diluted earnings per share were SEK 0.16 (0.34) The average number of active users excluding iOS (MAU ) increased by 44.4 million to 471.0 million (426.6).

Net sales decreased by 24 percent to SEK 754.8 million (993.3). Net sales in constant currencies decreased by approximately 15 percent. EBITDA excluding the costs of incentive programs decreased by 49 percent to SEK 209.0 million (410.2) equivalent to an EBITDA-margin of 27.7 (41.3) percent. In constant currencies the EBITDA decrease was approximately 40 percent. EBITDA including the costs of incentive programs decreased by 53 percent amounted to 152.3 (321.8), corresponding to an EBITDA-margin of 20.2 (32.4) percent. In constant currencies the EBITDA decrease was approximately 42 percent. Profit after tax amounted to SEK 84.1 million (219.7). Basic earnings per share were SEK 0.25 (0.64) and diluted earnings per share were SEK 0.25 (0.64). The average number of active users excluding iOS (MAU ) increased by 44.7 million to 405.9 million (361.2).

This quarter marked an important step forward for Truecaller. While our year-over-year comparisons continue to reflect the challenges we have been navigating over the past several quarters, we saw sequential improvements across all our revenue streams, supported by the strategic initiatives implemented during the recent quarters. Our advertising business showed encouraging signs of improvement during the quarter. Advertising revenues increased by 6% compared to Q1, a decline of 34% year-over-year in constant currencies. Towards the end of the quarter, we saw a positive impact from the removal of the flagging by our largest demand partner. As a consequence of this, the daily average revenue from the partner increased by approximately 10-15% compared to the quarterly average and has been stable at that level also in the beginning of the third quarter. While the full impact will be visible over time, this provides positive momentum as we continue to execute o...