In the conversations, Telegram told investors that it was tackling its legal troubles head-on by policing more user-generated content. The company also said it had paid down a "meaningful amount" of its debt.

Telegram has been under increasing scrutiny around the world this year for hosting illicit content from child predators, drug traffickers and other criminals. The company also faces pressure another way: to prove it can make money.

For years, skeptics have questioned if a platform known for hosting toxic material could turn a profit. Unlike social media companies such as Meta, Telegram took an unusual business path: It did not raise money from venture capitalists, sell advertising based on user data or hire aggressively to accelerate growth. Instead, it relied on Durov's fame and fortune to sustain its business, took on debt and barreled into the cryptocurrency market.

Now it looks like that paid off with  Telegram is set to be profitable this year for the first time, according to a person with knowledge of the finances who declined to be identified discussing internal figures. Revenue is on track to surpass $1 billion, up from nearly $350 million last year, the person said.