EL7.AI
StocksMedium•3 November 2026•
4 min read

Truecaller Shares Fall 17.4% to 19.63 Krona After Third-Quarter Loss

Key Facts

1Shares fell 17.4% to 19.63 Swedish krona, and hit a low of 19.30 krona during the November 3 session.
2The net loss was 22.6 million Swedish krona, versus a profit of 108.5 million a year earlier, and the quarter included a tax provision of 92 million.
3Adjusted earnings before interest, taxes, depreciation and amortization fell 9% to 148.5 million krona, and its margin declined to 32% from 34.7%.
4Monthly active users, excluding iOS users, averaged 476.2 million versus 441.7 million a year earlier, with 5 million added during the quarter.
5The company expects remaining orders in the Indian tax matter to be issued gradually through the end of the first quarter of 2027.

Truecaller shares fell 17.4% during the November 3 session to 19.63 Swedish krona, after touching a low of 19.30 krona, according to Investing.com coverage. The decline came as the company reported a third-quarter net loss and warned of slower user growth. The after-tax loss was 22.6 million Swedish krona, compared with a profit of 108.5 million krona in the same period last year. The results included a 92 million krona tax provision related to a transfer-pricing audit in India. The company did not present analyst consensus estimates in its official report, so no documented comparison is available to show that its results fell short of market expectations.

Excluding the impact of the tax provision, adjusted earnings before interest, taxes, depreciation and amortization, excluding non-recurring items, fell 9% to 148.5 million krona in the third quarter. The margin on this measure narrowed to 32%, from 34.7% in the corresponding period of 2025. The combination of a net loss, lower adjusted operating earnings and a narrower margin points to pressure on quarterly performance from several sources. The figures show that the tax item was large enough to explain part of the shift to a loss, but it does not erase the decline in the adjusted earnings measure. Investing.com coverage linked the share move to the loss and the warning on user growth.

Monthly active users, excluding iOS users, averaged 476.2 million in the third quarter, compared with 441.7 million a year earlier. The company added 5 million users during the quarter. Truecaller said weak handset sales and platform issues contributed to slower growth. This explanation ties user-base performance to factors related to the device market and the platform itself, rather than financial-market movements alone. It also puts annual user growth in a different context from the increase during the quarter, which came as the company acknowledged obstacles to faster growth.

The chief executive said global smartphone shipments fell 20%-22% during the quarter and manufacturers preloaded the Truecaller app at a slower pace. He added that weak shipments and higher memory prices could continue to weigh on user growth in price-sensitive markets, including India, Nigeria and Egypt. Lower preinstallation makes the addition of new users more dependent on their decision to download the app, as consumers face higher device prices, according to the company's explanation. Management thus links conditions in the handset market to the trajectory of user-base expansion. The markets cited include India, where the tax provision also affected quarterly results.

On the Indian tax matter, Truecaller said resolution of the case may involve appeals in India and a mutual agreement procedure between the two countries. The company expects further orders to be issued gradually through the end of the first quarter of 2027. This tax process sets a timeline for further developments after the provision included in the third-quarter results. The available information does not specify the value of any future provisions or the outcome of the proceedings, but indicates that the matter may not necessarily end with the current results announcement. The remaining orders and procedural developments will therefore remain part of investors' monitoring of the company in the coming period.

The market reaction during the November 3 session was sharp, with the shares falling to 19.63 krona after recording an intraday low of 19.30 krona. This came as quarterly results showed a contrast between higher average users than a year earlier and the addition of only 5 million during the quarter, according to figures cited in Investing.com coverage. At the same time, adjusted earnings before interest, taxes, depreciation and amortization fell 9% and its margin declined, while the tax provision pushed the company into a net loss. These developments combine the direct accounting impact of the provision with operating pressure and a warning about conditions for user growth. The coverage did not attribute the decline to a miss against specific analyst expectations.