Truecaller is cutting 70 jobs (about 15% of its workforce) in Q2 2026 following a sharp revenue decline. Q1 2026 net sales dropped 27% to 362 million SEK, with India sales down 41% year-on-year and ad revenues falling 44%. The company attributed the decline to India's ban on real-money gaming apps (which were major advertisers), algorithm changes by a programmatic ad partner identified as Google, and the conflict in the Middle East. On the positive side, Truecaller surpassed 500 million monthly active users and subscription revenue grew 27%, now representing 31% of net sales. The company's stock has fallen over 79% in the past 12 months.
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