Second quarter 2022: Robust business and financial performance

STOCKHOLM, July 22, 2022 /PRNewswire/ -- Truecaller, the leading global platform for verifying contacts and blocking unwanted communication, is proud to report growth in net sales of 100 percent combined with an adjusted EBITDA margin of 45.5 percent in the second quarter of 2022.

"Now that it is time to recap the second quarter of the year, I am pleased to report that our business continues to develop very positively. Demand for our services is increasing globally and the average number of monthly users increased by about 42 million compared to last year and now stands at 321.4 million (279.6). For the second consecutive quarter we were one of the top 20 most downloaded apps globally. Our very strong financial performance also continued in the second quarter. Net sales doubled to SEK 480 million with an adjusted EBITDA margin of 45.5 percent. All three revenue streams – ads, our B2B offering Truecaller for Business, and subscriptions – contributed to the revenue growth. We continue to report strong cash flow and have about SEK 2.2 billion available for investments, which gives us good capacity to act when attractive opportunities arise. We founded Truecaller during the financial crisis of 2009 and have seen how quickly market sentiment can change, which makes it important that the company maintains good profitability, a strong cash position and strong cash flow. We are now in that position, something I am very proud of, and it is in times like these that even more opportunities are created, which we will actively pursue. In the second quarter, we also implemented the option to buy back our own shares as yet another potential tool in our toolbox going forward.

We have been able to report high user and revenue growth since the IPO in October 2021, along with good profitability and strong cash flow. The foundation of that success is a really good product that our users love. I am also particularly proud that we achieved a new record Net Promoter Score in our customer surveys in India, confirming our position as one of the most popular brands in the country. Our efforts to further develop our services continue. Combined with the ongoing positive trend in the number of smartphone users, this creates the conditions for persistent, stable and profitable growth," says Alan Mamedi, CEO of Truecaller.

 April-June 2022 (Q2)
Comparative figures refer to April-June 2021.

• Net sales were up 100 percent to SEK 480.4m (240.0) compared to the same quarter last year.
• Adjusted EBITDA amounted to SEK 218.5m (104.4), corresponding to an adjusted EBITDA margin of 45.5 (43.5) percent. Excluding costs for incentive programs adjusted EBITDA would have been SEK 225.4m (104.4) , equivalent to an adjusted EBITDA-margin of 46.9 (43.5) percent.
• Profit after tax of SEK 172.7m (74.8).
• Basic earnings per share were SEK 0.46 (0.34) and diluted earnings per share were SEK 0.46 (0.21).
• Profit for the quarter was not affected by any items affecting comparability, but such items reduced profit for Q2 2021 by SEK -19.3m. The items affecting comparability in 2021 comprised preparations for the IPO of SEK -10.4m and synthetic options of SEK -8.9m.
• The number of monthly active users (MAU) increased by 15 percent to around 321.4 million (279.6).
• Sales growth was 130 percent in India, 38 percent in the Middle East and Africa and 31 percent in the rest of the world.

January-June 2022
Comparative figures refer to January-June 2021.

• Net sales were up 107 percent to SEK 878.7m (424.1) compared to the same quarter last year.
• Adjusted EBITDA amounted to SEK 399.8m (158.6), corresponding to an adjusted EBITDA margin of 45.5 (37.4) percent. Excluding costs for incentive programs adjusted EBITDA would have been SEK 410.2m (158.6), equivalent to an adjusted EBITDA-margin of 46.7 (37.4) percent.
• Profit after tax of SEK 306.4m (117.6).
• Basic earnings per share were SEK 0.82 (0.54) and diluted earnings per share were SEK 0.82 (0.33).
• Profit for the quarter was not affected by any items affecting comparability, but such items reduced profit for the same period in 2021 by SEK -29.4m. The items affecting comparability in 2021 comprised preparations for the IPO of SEK -14.8m and synthetic options of SEK -14.6m.
• Sales growth was 133 percent in India, 56 percent in the Middle East and Africa and 46 percent in the rest of the world.

Presentation of the report

Alan Mamedi, CEO and Odd Bolin, CFO presents the report and answers questions in a webcast and conference call today at 13.00 CET. The presentation will be held in English.

Follow the presentation live:
Link to webcast

To listen to the presentation by phone, please call:
SE: +46850516386
UK: +442031984884
US: +1 4123176300

Pin code:8152846#

For more information, please contact:
Odd Bolin, CFO
investors@truecaller.com

Andreas, Head of IR & Communication
+46 705 29 08 00
andreas.frid@truecaller.com

This information is information that Truecaller is obliged to make public pursuant to the EU Market Abuse Regulation 596/2014. The information was submitted for publication, through the agency of the contact persons set out above, at the time stated by the Company's news distributor, Cision, at the publication of this press release.

About Truecaller:

Truecaller (TRUE B) is the leading global platform for verifying contacts and blocking unwanted communication. We enable safe and relevant conversations between people and make it efficient for businesses to connect with consumers. Fraud and unwanted communication are endemic to digital economies, especially in emerging markets. We are on a mission to build trust in communication. Truecaller is an essential part of everyday communication for more than 320 million active users, with more than half a billion downloads since launch and around 38 billion unwanted calls identified and blocked in 2021. Headquartered in Stockholm, since 2009, we are a co-founder-led, entrepreneurial company, with a highly experienced management team. Truecaller has been listed on Nasdaq Stockholm since 8 October 2021. For more information, please visit corporate.truecaller.com

This information was brought to you by Cision http://news.cision.com

https://news.cision.com/truecaller-ab/r/second-quarter-2022--robust-business-and-financial-performance,c3604209

The following files are available for download:

https://mb.cision.com/Main/20429/3604209/1606783.pdf
Truecaller_interimreport_Q22022 

https://news.cision.com/truecaller-ab/i/q2-report-2022-eng,c3072084
Q2 Report 2022 eng