In the five days of August, Threads user count increased by only 2.2 million - an average of 440,000 new users per day or 11 times less than in July.
In just under a month (between 5 July and 30 July 30) Threads gained an estimated 121.7 million users or an average of 4.7 million users per day.
The SensorTower data show that people also open the app less frequently and spend less time using it.
According to SensorTower, Threads users opened the app an average of 14 times per day on its launch day and spent roughly 19 minutes scrolling through it.
By the end of the month, Threads daily average time spent fell to merely three minutes a day, with people spending only 2.6 sessions per day using the app.
Although the biggest drop-off happened in the two weeks following Threads launch, the massive decline in the number of new users is ongoing.
The AltIndex data show Threads user count has grown by an average of 0.6% per day in August, with the platform reaching an estimated 123.9 million users on 5 August.
And while Meta CEO, Mark Zuckerberg, is quite optimistic about Threads future, the app is still far behind its competitors.
With close to 124 million users, Threads has less than half the user count of its biggest competitor Twitter, which counts roughly 260 million daily active users.
