Teamviewer stock news7/10/2023 ![]() ![]() Recently, TeamViewer entered a strategic partnership with Google Cloud to bring its AR solutions to the Google Cloud platform. Strategic Industry and Tech Partnerships to Address Growing Enterprise Demand With the launch of TeamViewer Classroom, the company entered the promising sector of digital education with a fully GDPR-compliant online teaching solution dedicated to the needs of educational institutions. car manufacturers in digitalizing its after-sales workflows and field service management using TeamViewer's frontline AR solutions. In addition, TeamViewer won the largest Augmented Reality (AR) deal in the company's history to help one of the major U.S. These efforts enable TeamViewer to further drive digitalization along the entire value chain and continue to attract new high-profile customers across all verticals such as global leading B2B coffee machine manufacturer Gruppo Cimbali and major Nordics telecom operator Tele2. TeamViewer successfully broadened its solutions portfolio through strategic acquisitions and R&D investments in existing and new products. 1 At constant currenciesīroadened Solutions Portfolio to Attract Customers Across All Verticals Total subscriber churn improved from 15.7% in Q3 2020 to 14.6% in Q3 2021. Within the enterprise business, the share of contracts with value >EUR 50k moved from 34% in Q3 2020 to 48%, reflecting successful up- and cross-selling. The enterprise business continued to grow very strongly by 75% on a last twelve-month (LTM) basis to EUR 77.8m, thereby accelerating its growth sequentially (Q2 2021: +66% LTM). TeamViewer increased its subscriber base by 11% year-over-year to 628,000 at quarter end. Adjusted EBITDA decreased to EUR 42.3m (Q3 2020: EUR 58.2m) due to the already communicated billings shortfall and significant planned investments in brand in Q3, ultimately resulting in an Adjusted EBITDA margin of 34% (Q3 2020: 55%). TeamViewer thereby achieved to grow its billings by more than 75% within two years (9M 2019: EUR 224.3m). TeamViewer's first nine months billings in 2021 grew by 18% and 21% cc to EUR 393.9m compared to previous year's 9M period. The company grew third quarter billings by 18% (18 cc 1) to EUR 125.8m compared to the same period last year and after 15% billings growth in Q2 2021. TeamViewer has confirmed its preliminary Q3 results from the beginning of October. This together with the steps we are taking to re-adjust TeamViewer's growth levers make us confident that we will deliver on our short- and mid-term ambitions." The improvement of our Net Retention Rate and the increase of the average billings per customer reflect a positive momentum. Our profitability continues to be one of the highest in the industry, our cash position is consistently strong and the leverage ratio low. "We are pleased to finally see a normalization of the business activity post COVID effects. The entire leadership team is fully convinced of the long-term growth prospects." TeamViewer is well positioned to capitalize on global megatrends with strong positions in key growth markets and a broadened solutions portfolio combined with our compelling financial profile. We will address this by reconfiguring some of our growth initiatives and our cost structure, which we will present in more detail at our Capital Markets Day. While billings growth and profit remain very attractive, we are not satisfied with those results. "We are clearly coming out of a challenging quarter. Revenue from subscription model (non-IFRS) Key Figures EUR m, unless otherwise stated Strong financial profile with net leverage stable at 1.5x Adjusted EBITDA.Major partnerships with SAP and Google Cloud to drive Augmented Reality enterprise business.Enterprise business accelerated its growth sequentially, up by 75% to EUR 77.8m billings on LTM basis, now representing 15% of total billings.Growth to 628,000 subscribers, lower churn rate and higher NRR.Adjusted EBITDA Margin of 34% in Q3 and 48% in 9M, including planned brand investments. ![]() Billings growth at constant currencies of 18% in Q3 and 21% in 9M.TeamViewer confirms preliminary Q3/9M results with healthy and profitable billings growth ![]()
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