Research from Redeye, Redeye AB

Redeye

Research from Redeye

Redeye AB

Specialists in innovative and fast-growing Nordic companies within Life Science and Technology.

Redeye is the next generation equity research and investment banking company, specialized in Life Science and Technology. We are the leading provider of Corporate Broking and Corporate Finance in these sectors.

Our clients are innovative growth companies in the Nordics and we use a unique Rating model based on a value based investment philosophy. Redeye was founded 1999 in Stockholm and is regulated by the Swedish Financial Authority (Finansinspektionen).

Equity Bottom-Up

<ul><li>Redeye comments on Truecaller ahead of its Q3 results, due on 28 October.</li><li>We expect a mixed quarter, with recurring revenues remaining the key growth driver while ads face continued FX headwinds from the weaker Indian rupee.</li><li>Additionally, increased uncertainty in India, linked to tariffs and duties, is weighing on the cyclical ad market.</li></ul>

Redeye comments on Truecaller ahead of its Q3 results, due on 28 October.We expect a mixed quarter, with recurring revenues remaining the key growth driver while ads face continued FX headwinds from the weaker Indian rupee.Additionally, increased uncertainty in India, linked to tariffs and duties, is weighing on the cyclical ad market.

Truecaller Q3 preview: Resilient recurring revenues, weaker ads

Consumer Analyst / Channel Surveillance Specialist, Trudence Capital Advisors

Pranav Bhavsar

Consumer Analyst / Channel Surveillance Specialist

Trudence Capital Advisors

Trudence Capital Advisors Private Limited is a SEBI-registered Research Analyst, holding SEBI registration number INH000015747. Our firm is dedicated to providing independent and unbiased research on Indian mid to large-cap companies. Trudence Capital is known for its counter-consensus views, with a focus on forensic research and on-ground primary investigations. Our research approach is thorough, involving detailed analysis of accounting practices and governance, alongside extensive channel checks.

Independent & Unbiased Research

<ul>
<li>Our earnings coverage continues for the second edition and is expected to continue for one more week.</li>
<li>At the bottom, we provide a consolidated view of all earnings tracked so far (Bullish / Bearish) and would be happy to engage on any of them.</li>
<li>We also highlight the earnings of some of the global companies that have significant operations or growth in India.</li>
</ul>


Our earnings coverage continues for the second edition and is expected to continue for one more week.
At the bottom, we provide a consolidated view of all earnings tracked so far (Bullish / Bearish) and would be happy to engage on any of them.
We also highlight the earnings of some of the global companies that have significant operations or growth in India.


[Week 9] Namaste India 🙏 | Earnings Edition - Part II

Covering IPOs, Healthcare and Technology Stocks

Andrei Zakharov

Algosun Global

<p>In October, <a href="https://www.smartkarma.com/entities/truecaller-ab" target="_blank" data-smartkarma-citation="entities:34462:1" rel="noopener">Truecaller AB (TRUEB SS)</a> successfully completed IPO and offered ~19.2 million newly issued Class B shares at SEK 52 per share, implying a market cap of ~SEK 19.4 billion or ~€1.95 billion. Selling stockholders sold ~44 million Class B shares and exercised Upsize Option. In addition to this, some of existing stockholders have committed to sell up to ~9.4 million Class B shares (Over-Allotment Option). Yesterday, the company announced its first quarterly results and shares spiked more than 30% after Q3’21 earnings were released. Today shares continued to rally and jumped another 23%. Truecaller’s share price closed the day at SEK 87.20, ~68% higher than the IPO price.</p>

In October, Truecaller AB (TRUEB SS) successfully completed IPO and offered ~19.2 million newly issued Class B shares at SEK 52 per share, implying a market cap of ~SEK 19.4 billion or ~€1.95 billion. Selling stockholders sold ~44 million Class B shares and exercised Upsize Option. In addition to this, some of existing stockholders have committed to sell up to ~9.4 million Class B shares (Over-Allotment Option). Yesterday, the company announced its first quarterly results and shares spiked more than 30% after Q3’21 earnings were released. Today shares continued to rally and jumped another 23%. Truecaller’s share price closed the day at SEK 87.20, ~68% higher than the IPO price.

Monster Rally May Cool Off But Long-Term Prospects Bright

Equity Capital Markets

<p><a href="https://www.smartkarma.com/entities/truecaller-ab" target="_blank" data-smartkarma-citation="entities:34462:1" rel="noopener">Truecaller AB (TRUEB SS)</a>  is expected to IPO this week. The company’s amended prospectus puts the expected price range at SEK 44.00-56.00 per Class B share, implying a market cap of ~19.6B SEK or ~$2.2B at midpoint of the price range on a fully diluted basis. The book-building procedure began on September 29 and continues until October 7. Truecaller’s Class B shares are expected to begin trading on Nasdaq Stockholm under the trading symbol “TRUE” on October 8. Carnegie Investment Bank, Goldman Sachs, J.P. Morgan and Citigroup Global Markets are joint global coordinators on the upcoming offering.      </p>

Truecaller AB (TRUEB SS)  is expected to IPO this week. The company’s amended prospectus puts the expected price range at SEK 44.00-56.00 per Class B share, implying a market cap of ~19.6B SEK or ~$2.2B at midpoint of the price range on a fully diluted basis. The book-building procedure began on September 29 and continues until October 7. Truecaller’s Class B shares are expected to begin trading on Nasdaq Stockholm under the trading symbol “TRUE” on October 8. Carnegie Investment Bank, Goldman Sachs, J.P. Morgan and Citigroup Global Markets are joint global coordinators on the upcoming offering.      

Truecaller IPO: Best-In-Class Caller ID And Spam Blocking App

Sweden

Truecaller AB provides software solutions. The Company offers global platform for verifying contacts and blocking unwanted communication. Truecaller serves customers worldwide.

Price Gauge
52-week Range	0.00 - 0.00
Market Cap (USDm)	0.00
P/E	0.00
Dividend (Yield)	0.00

Truecaller AB (TRUEB SS)

Truecaller Q3 preview: Resilient recurring revenues, weaker ads

Redeye comments on Truecaller ahead of its Q3 results, due on 28 October. We expect a mixed quarter, with recurring revenues remaining the key...

Redeye

[Week 9] Namaste India 🙏 | Earnings Edition - Part II

Deviation from the normal weekly, this insight continues to focus on earnings coverage with a consolidated view of tracked earnings and focus on...

Pranav Bhavsar

Monster Rally May Cool Off But Long-Term Prospects Bright

In this insight, we will focus on Q3’21 earnings review and set a new 12-month price for Truecaller shares based on new guidance from management...

Andrei Zakharov

Truecaller IPO: Best-In-Class Caller ID And Spam Blocking App

Swedish caller identification and spam-call blocker unicorn Truecaller filed for an IPO on Nasdaq Stockholm and plans to raise more than $100M this...

Andrei Zakharov

Price Gauge

52-week Range

Market Cap (USDm)

P/E

Dividend (Yield)

Truecaller Q3 preview: Resilient recurring revenues, weaker ads

Redeye comments on Truecaller ahead of its Q3 results, due on 28 October. We expect a mixed quarter, with recurring revenues remaining the key...

Redeye

[Week 9] Namaste India 🙏 | Earnings Edition - Part II

​Deviation from the normal weekly, this insight continues to focus on earnings coverage with a consolidated view of tracked earnings and focus on...

Pranav Bhavsar

Monster Rally May Cool Off But Long-Term Prospects Bright

In this insight, we will focus on Q3’21 earnings review and set a new 12-month price for Truecaller shares based on new guidance from management...

Andrei Zakharov

Truecaller IPO: Best-In-Class Caller ID And Spam Blocking App

Swedish caller identification and spam-call blocker unicorn Truecaller filed for an IPO on Nasdaq Stockholm and plans to raise more than $100M this...

Andrei Zakharov

Deviation from the normal weekly, this insight continues to focus on earnings coverage with a consolidated view of tracked earnings and focus on...