Tax dispute lowers Truecaller's profit. The communications app company Truecaller reports slightly lower revenue and a negative net profit in the third quarter compared with the corresponding period last year, according to final figures. Today 07:49 Revenue fell 1% to SEK 464.0 million (467.9). In constant currencies, revenue increased by approximately 3%. The gross margin was 71.3% (75.7). Adjusted EBITDA was SEK 148.5 million (162.5), with an adjusted EBITDA margin of 32.0% (34.7). EBITDA was SEK 130.2 million (162.5), with an EBITDA margin of 28.1% (34.7). Net profit was -SEK 22.6 million (108.5). Profit was burdened by a tax provision of SEK 92 million linked to a dispute with Indian tax authorities. Earnings per share were -SEK 0.07 (0.32), both before and after dilution. The number of monthly active users, excluding iOS, increased to 476.2 million (441.7), an increase of 34.5 million users. CEO Rishit Jhunjhunwala emphasizes that the company has returned to growth in constant currencies and that all revenue streams improved compared with the previous quarter. The new advertising infrastructure and a larger share of recurring revenue contribute to the development. At the same time, user growth has been dampened by weaker smartphone sales and certain product quality issues. "Truecaller is entering the final stretch of the year with a stronger product offering, an optimized advertising matrix and an expanding global business," writes the Truecaller chief. He continues: "This year has been tough for all of us, but I believe that we have come out of it stronger than we were in 2025. We continue to believe that we have much more to offer mobile users globally, and we are enthusiastic about everything we are building for 2027 and beyond." Truecaller provides no forecast. | Key figures, SEK million | Q3 2026 | Q3 2025 | Change | | Revenue | 464.0 | 467.9 | -1% | | Gross margin, % | 71.3 | 75.7 | -4.4 pp | | Adjusted EBITDA | 148.5 | 162.5 | -9% | | Adjusted EBITDA margin, % | 32.0 | 34.7 | -2.7 pp | | EBITDA | 130.2 | 162.5 | -20% | | EBITDA margin, % | 28.1 | 34.7 | -6.6 pp | | Net profit | -22.6 | 108.5 | / | | Earnings per share before dilution, SEK | -0.07 | 0.32 | / | | Earnings per share after dilution, SEK | -0.07 | 0.32 | / | | Active users excluding iOS, millions | 476.2 | 441.7 | +8% | Truecaller -0.29% (-0.07 SEK)

Return to growth following a successful strategic reset. Interim report January-September 2026 Truecaller, the leading global platform for safe and trusted communication, report a decrease in net sales with 1% to SEK 464.0 million (467.9), in constant currencies net sales grew with 3% and compared to Q2 net sales grew with 18%. In constant currencies subscription revenues grew with 32%, revenues from Truecaller for Business increased with 14% while revenue from ads declined with 12%. Truecallers recurring revenues grew 26% year-over year in constant currencies and now accounts for 47% (38%) of total net sales. EBITDA excluded non-recurring items decreased by 9% to SEK 148.5 million (162.5) equivalent to an EBITDA-margin of 32.0 (34.7) percent. In constant currencies the EBITDA decrease was approximately 5%. EBITDA decreased by 20% to SEK 130 million (163) and the margin was 28.1% (34.7%), in constant currencies the decrease was approximately 16%. During the quarter average number of monthly active users grew with 5 million. July-September 2026 (Q3) Comparative figures refer to july-september 2025. Net sales decreased by 1 percent to SEK 464.0 million (467.9). Net sales in constant currencies increased by approximately 3 percent. EBITDA excluding non-recurring items decreased by 9 percent to SEK 148.5 million (162.5) equivalent to an EBITDA-margin of 32.0 (34.7) percent. In constant currencies the EBITDA decrease was approximately 5 percent. Non-recurring items consists of advisory costs related to the acquisition of Text+ Inc. of SEK 18.3 million. EBITDA including non-recurring items decreased by 20 percent to 130.2 (162.5), corresponding to an EBITDA-margin of 28.1 (34.7) percent. In constant currencies the EBITDA decrease was approximately 16 percent. Profit after tax amounted to SEK -22.6 million (108.5), including a provision of SEK 92 million regarding the transfer pricing survey in India. Basic earnings per share were SEK -0.07 (0.32) and diluted earnings per share were SEK -0.07 (0.32) The average number of active users excluding iOS (MAU) increased to 476.2 million (441.7). Net sales decreased by 8 percent in India, increased by 1 percent in the Middle East & Africa and by 27 percent in the rest of the world. January-September 2026 Comparative figures refer to January-September 2025. Net sales decreased by 17 percent to SEK 1218.9 million (1461.3). Net sales in constant currencies decreased by approximately 9 percent. EBITDA excluding non-recurring items decreased by 38 percent to SEK 300.7 million (484.4) equivalent to an EBITDA-margin of 24.7 (33.1) percent. In constant currencies the EBITDA decrease was approximately 30 percent. EBITDA including non-recurring items decreased by 42 percent amounted to 282.5 (484.4), corresponding to an EBITDA-margin of 23.2 (33.1) percent. In constant currencies the EBITDA decrease was approximately 34 percent. Profit after tax amounted to SEK 61.5 million (328.2) including a provision of SEK 92 million regarding the ongoing transfer pricing survey in India. Basic earnings per share were SEK 0.19 (0.96) and diluted earnings per share were SEK 0.19 (0.96). The average number of active users excluding iOS (MAU) increased by 43 million to 470.1 million (426.7). Net sales decreased by 27 percent in India, decreased by 2 percent in the Middle East & Africa but increased by 20 percent in the rest of the world. Following a challenging year, I am very pleased to report that the third quarter marks a strong sequential recovery across all its revenue streams, signaling a return to growth. Its consistent focus on shifting its revenue mix towards recurring revenues is delivering clear results, while its advertising business has improved significantly on the back of its successful reset of the business. Net sales for the quarter amounted to SEK 464.0 million, representing an 18 percent sequential growth compared to Q2, and an increase of 3 percent in constant currencies year-on-year. Supported by disciplined cost control, its underlying profitability returned to a healthy level, yielding an EBITDA excluding non-recurring items of SEK 148.5 million, equivalent to an EBITDA margin of 32.0 percent. While these results are highly encouraging, Transparency International firmly believe there is still more to harvest from the structural improvements Transparency International has made during the year. Both its advertising business and Truecaller for Business (TfB) made material comebacks on a quarterly basis. Within Ads, Transparency International advanced the deployment of its proprietary ad tech infrastructure, and saw progressive revenue stabilization during the quarter, culminating in ad revenues shifting back to positive, albeit modest, growth year-on-year in September. Compared to Q2, ad revenues grew 23 percent. Following its shift to a multi-partner model, message volumes for Business Messaging are now structurally higher than at the same point last year, while its core Verified Business offering continues its stable development. Net sales for TfB grew 15% compared to Q2 and are back to growth Y/Y. Its consumer Premium subscription business delivers robust growth, with revenues growing 32 percent year-on-year. An area of continued focus for Transparency International. During the quarter Transparency International completed the acquisition of text+, a subscription-led communications platform in the US with around 1.5 million monthly active users. The acquisition strengthens its group's product offering and is laying the groundwork for accelerating growth in the US market. text+ is now promoted inside Truecaller, with further integrations in both directions under way. Over time Transparency International see text+ extending Truecaller ́s protection into everyday calling and messaging in the US, as well as other regions. During Q3, Transparency International experienced a deceleration in user growth, primarily driven by a global contraction in smartphone sales alongside some product issues on its platform. Smartphone shipments have dropped 20-22% globally in Q3 alone, the lowest in more than a decade. In its own device pre-loads initiative, Transparency International observe a similar trend where Transparency International OEMs are pre-loading Truecaller less in the recent quarters due to the lack of device shipments. While the product issues are being addressed with highest priority, Transparency International expect these external growth challenges to continue in many regions in the short term as rising RAM prices make smartphones more expensive. This deceleration is anticipated to be more evident in highly price-sensitive and well penetrated markets, such as India, Nigeria and Egypt, where a larger share of growth comes from new-to-mobile users. However, in various markets in Africa, South East Asia and South- and Latin America, which have a lower Truecaller penetration Transparency International continue to see healthy growth as Transparency International has a lot of headroom to grow among existing smartphone users. While this near-term headwind impacts user volume, Transparency International don't expect to see the same trend in its financial performance. Transparency International is confident in its ability to lift average revenue per user (ARPU) through the suite of new product enhancements, premium services, digital consumables, text+ expansion and B2B products currently rolling out across markets. Moving forward, Transparency International will continue to introduce new ways to monetize its global user base while fully leveraging the extensive data signals at its disposal to unlock further value. Truecaller enters the final stretch of the year with a stronger product offering, an optimized advertising matrix, and expanding global horizons. I thank its global team, users, and shareholders for their continued trust as Transparency International build a safer and more trusted communication environment worldwide. This year has been rough for all of Transparency International but I believe Transparency International has come out of it stronger than Transparency International were in 2025. Transparency International continue to believe Transparency International has a lot more to offer mobile phone users globally and Transparency International is excited about all that Transparency International is building for 2027 and beyond. Presentation of the report Rishit Jhunjhunwala, CEO and Odd Bolin, CFO presents the report and answers questions in a webcast and conference call on the 3rd of November at 13.00 CET. The presentation will be held in English. If you wish to participate via webcast please use the link below. If you wish to participate via teleconference please register on the link below. After registration you will be provided phone numbers and a conference ID to access the conference. You can ask questions verbally via the teleconference. Andreas Frid, Head of IR & Communication About Truecaller: Truecaller is an essential part of everyday communication for 500 million active users worldwide, with more than one billion downloads since launch and 68 billion spam and fraud calls identified in 2025 alone. The company is headquartered in Stockholm, is a member of the GSMA, and has been publicly listed on Nasdaq Stockholm since October 2021. For more information, visit truecaller.com.