Truecaller records sales growth of 111% to $42 mn in December quarter

The caller identity verification company also recorded a profit after tax of $15 million in Q4 compared to a loss of $930,000 in the year-ago period

Truecaller, an online platform for verifying contacts and blocking unwanted communication, saw its net sales grow 111 per cent to $42 million in the December quarter (Q4), compared to the year-ago period. The Swedish technology company recorded an adjusted EBITDA margin of 50 per cent in the quarter.

Truecaller also recorded a profit after tax of $15 million in Q4 compared to a loss of $930,000 in the corresponding quarter of 2020. The company said that it landed 1,000 enterprise customers in the last one year and at present has retained 90 per cent of them.

The number of monthly active users (MAU) rose by 16 per cent to around 301.2 million on average. In the December quarter, sales growth was 113 percent in India, 90 percent in the Middle East and Africa and 125 percent in the rest of the world on a year-on-year basis.

“With more than 770 billion calls and texts identified in a single year and an increase of the number of spam calls blocked of 27 percent, Truecaller is the leading platform for verifying contacts and blocking unwanted communications,” said Alan Mamedi, the CEO of Truecaller.

“We are very proud to be in this unique position, being a fast growing tech company with high profitability, good margins and efficient cash-conversion that generates strong cash flows,” he added.

The company’s board of directors has decided to propose to the Annual General Meeting that no dividend be paid for financial year 2021 (January-December 2021).