Q3 2024 Truecaller AB Earnings Call Transcript
Key Points
- Truecaller AB (TRUBF) reported a 15% year-on-year increase in net sales, reaching 457 million Swedish crowns.
- The company achieved a new all-time high in user growth, adding 16 million users from the previous quarter.
- Truecaller AB (TRUBF) saw a 25% growth in recurring subscription revenues compared to last year.
- The company maintained a strong cash flow with 166 million Swedish crowns in net cash from operating activities before tax payments.
- Truecaller AB (TRUBF) continues to operate profitably with an EBITDA margin of 37%, exceeding their long-term financial target.
- Currency effects had a negative impact on revenue growth, estimated to reduce growth by about 5 percentage points.
- The advertising market in India remains subdued, affecting overall ad revenue growth.
- The company faces challenges from unfavorable fixed conditions despite increased EBITDA.
- There is uncertainty regarding the stability of ad revenue growth, with no clear trajectory established yet.
- Truecaller AB (TRUBF) is dealing with an inquiry from Indian tax authorities, which could pose reputational risks.
Thank you. Welcome everyone. I'm Ala Mamedi and I'm the CEO and co-founder of Truecaller. And with me, as usual, I have our CFO, Odd Bolin.
We're here to announce our interim report covering the third quarter of 2024. So today, we'll start with overall highlights from the quarter and then walk you through our financial performance in detail. We'll then cover some developments on the product side before wrapping up and opening up for questions.
So let's get started with the highlights of the quarter. We closed the Q3 with an average of 413 million monthly active users and increase of 12%. Average daily active users grew to 337 million an increase of 13%. This brings us to a strong dow to male ratio of 81%. We closed the quarter at 457 million swedish crowns in net sales. A 15% increase year on year. All three of our revenue streams contributed to this growth for the first time since Q4 2022. Our advertising revenues showed underlying growth rising by 8% compared to Q3 2023. We estimate that currency effects had a
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