Truecaller - A stable quarter in uncertain times

Redeye provides an update following Truecaller’s Q2 2025 report, which came in somewhat softer than expected due to currency headwinds. Looking at the underlying figures, we believe Truecaller had a stable quarter, continuing to grow its user base at a high pace while improving margins through increased direct sales and the implementation of new ad formats. Redeye has revised its estimates and valuation following the report.

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This is a press release from Redeye - Research Powered Investment Banking. www.redeye.se/