Sweden-based caller ID company Truecaller said it will cut 70 jobs, or roughly 15% of its workforce, in the second quarter, as the company posted its Q1 2026 results with a decline in revenue and profits. Truecaller blamed real-money gaming in India, changes in advertising partner algorithms, and conflict in the Middle East for the slide.
As TechCrunch reported last month, the company is already facing challenges from India’s telecom-led solutions, such as Calling Name Presentation (CNAP) identification service, and 5% year-on-year decline in downloads last year.
In its Q1 2026 results, Truecaller’s net sales dropped 27% to 362 million SEK ($39.34 million). In its biggest market, India, net sales dipped by 41% year-on-year. In addition, ad revenues declined by 44%.
“The year-on-year comparison looks especially weak given that Q1 and Q2 last year included a large contribution coming from the real money gaming sector in India in connection with the IPL season that takes place around this time. The situation in the Middle East also reduced our revenues from that region,” Truecaller CEO Rishit Jhunjhunwala said during the earnings call.
Last August, India banned real-money gaming apps such as Dream 11 and MPL that allowed users to use money to play fantasy sports. Industry bodies estimated that the real-money gaming industry was worth $23 billion in India. Because of this shutdown, platforms on which these real-money apps are advertised were deprived of that revenue.
There were only a few positives for the company this quarter. First, it crossed the mark of 500 million active users. Plus, its subscription revenue increased by 27%, representing 31% of net sales. The company has been adding features like AI Assistant and Family Protection to make its paid offerings more attractive.
Truecaller’s stock has dipped by over 26% this year and by over 79% in the last 12 months. However, after the Q1 results, it has seen some recovery.
BY JAMES OBIOMA—The Senate Public Accounts Committee (SPAC) has officially cleared the Nigeria Customs Service (NCS) of a N62.2 billion under-remittance allegation originally raised by the Office of the Auditor-General of the Federation in its 2019 audit report.
The clearance followed an investigative session on Tuesday, 16 June 2026, during which the Comptroller-General of Customs, Adewale Adeniyi, successfully defended the Service by proving that the alleged shortfall was a misclassification of revenue by auditors.
The original query, read by a representative of the Auditor-General under the direction of SPAC Chairman, Senator Ibrahim Dankwambo, had alleged that out of N691.242 billion generated by Customs in 2017, only N629.23 billion reached the Federation Account, leaving a balance of N62.2 billion.
Defending the Service’s financial integrity, CG Adeniyi explained that the multi-billion naira deficit was completely non-existent.
“The under-remittance of N62.2 billion levelled against Customs in the 2019 audit report was wrongly arrived at through misclassification of levies collected,” Adeniyi stated. “While most of the levies are to be collected and remitted into the federation account, others like the ones on local production of wheat, textiles and wines, etc do not go into the federation account, the totality of which accounted for the alleged unremitted N62.2 billion.”
Following identical, convincing clarifications on the first three major queries, a member of the committee, Senator Babangida Hussaini, wondered why the issues had not been ironed out sooner. He noted that as a former civil servant, such straightforward technicalities should have been resolved at the preliminary audit level rather than escalating to a full Senate investigation.
As India cut off access to messaging app Telegram for a week over concerns about exam-related fraud, users turned to virtual private networks (VPNs) and alternative messaging apps in unusually large numbers.
App intelligence firm Appfigures told TechCrunch that Tuesday, the day India announced the Telegram restriction, marked the biggest day for VPN app downloads in the country since at least the start of 2025. Downloads of major VPN apps rose 49% from a recent daily average of 139,000 to 208,000, the firm said.
Proton VPN and Turbo VPN recorded some of the largest increases. Downloads of Proton VPN on Apple’s App Store in India jumped 113%, while Turbo VPN downloads rose 85%. On Google Play, downloads of Proton VPN climbed 64% and Turbo VPN downloads increased 35%. NordVPN’s App Store downloads increased 41%, while ExpressVPN downloads on Google Play rose 31%.
The surge also pushed several VPN services up India’s app-store charts. Proton VPN climbed from 18th to 5th in Apple’s Utilities rankings between June 16 and June 18, while its Google Play ranking rose from 8th to 2nd in the Tools category, according to Appfigures.
The spike in VPN demand followed India’s decision to temporarily restrict Telegram until June 22 over concerns that fraudsters were using the platform to target candidates ahead of a re-test for the National Eligibility cum Entrance Test (Undergraduate), the country’s largest entrance examination by applicant volume. The Indian government said the measure was needed to prevent the spread of fake exam papers and related scams. Telegram has challenged the order in the Delhi High Court, arguing that authorities should target specific content rather than block the entire platform.
The response extended beyond app-store download data. Proton said daily registrations from India rose 120% above baseline levels on Wednesday, after hourly registrations had already spiked 150% on Tuesday evening following the Telegram restriction. The company described the increase as “extremely noteworthy” given its existing scale in the country.
Canadian VPN service provider Windscribe reported a similar trend. The company told TechCrunch that signups from India peaked roughly 100% above baseline levels, while first-time downloads of its iOS app in the country rose about 89%.
“The spike in India follows the same general trend we see in areas that ban specific apps, introduce age bans or verification requirements, or otherwise restrict internet access,” Rebecca Rosenberg, growth operations manager at Windscribe, said.
Image Credits:Windscribe
The trend was not limited to a handful of VPN providers. Sensor Tower told TechCrunch that downloads across the VPN app category in India rose 10% day-over-day on June 17, reversing a decline seen over the previous two weeks.
Users also appeared to be exploring alternatives to Telegram. Appfigures said downloads of Signal in India rose 72% on Apple’s App Store and 322% on Google Play following the restriction, while Viber’s App Store downloads increased 216%.
Telegram-linked messaging app iMe recorded one of the sharpest jumps. Its Google Play downloads rose from a recent daily average of about 827 to 50,900 on June 16, Appfigures said.
Yet the restriction did not immediately translate into lower Telegram usage. Sensor Tower said Telegram’s daily active users in India rose 17% on the day the measure was announced — the app’s largest day-over-day increase in the country since a widespread outage of Meta’s services in 2021.
Other data points also suggest heightened efforts to access Telegram following the restriction.
Cloudflare Radar Lead Lai Yi Ohlsen told TechCrunch that DNS requests for Telegram domains in India increased sharply over the two days after the measure was announced. The company cautioned that higher DNS traffic does not necessarily indicate successful access to the platform, and could reflect users repeatedly attempting to reach Telegram after it was blocked.
Image Credits:Cloudflare
Telegram pointed to its efforts to cooperate with authorities during hearings in the Delhi High Court this week. Its lawyers said the company had removed channels identified by authorities and questioned the need for a platform-wide restriction affecting what Telegram says are over 150 million users in India.
Government lawyers defended the measure as a temporary, event-linked response tied to the NEET re-test. Solicitor General Tushar Mehta told the court that a permanent ban could raise proportionality concerns but argued the current restriction had a “logical nexus” to the objective being pursued.
After hearing arguments from Telegram and the government on Thursday, the Delhi High Court reserved its order and is expected to deliver its verdict on Friday.
The debate echoes questions raised elsewhere when governments restrict access to major online platforms. Sensor Tower said VPN downloads in the U.S. rose more than 40% week-over-week when TikTok was briefly removed from U.S. app stores in 2025, while Windscribe said it has observed similar patterns following restrictions in countries including Iran and Russia.
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