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DGAP-Adhoc TeamViewer AG:

DGAP-Ad-hoc: TeamViewer AG / Key word(s): Preliminary Results/Change in Forecast
TeamViewer AG:

06-Oct-2021 / 14:19 CET/CEST
Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.


Disclosure of an inside information according to Article 17 of Regulation (EU) No 596/2014 on market abuse (MAR)

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TeamViewer discloses preliminary Q3 2021 results and adjusts guidance

  • Billings growth up around 18% YoY and 18% at constant currencies (cc)
  • Subscriber churn improving, recovery of net retention rate as expected
  • Solid growth in Enterprise but below expectations
  • IFRS revenues reach around EUR 128m
  • Full-year 2021 billings guidance adjusted to EUR 535m to EUR 555m and revenue guidance to EUR 495m to EUR 505m. FY 2021 adjusted EBITDA margin now expected at around 44% to 46%.

Goppingen, 6 October 2021 - Following an initial review of its financial performance, TeamViewer AG announces preliminary financial results for the quarter ending 30 September 2021.

In Q3 2021, TeamViewer generated billings of around EUR 126m, up around 18% reported and 18% cc, thereby showing higher year-on-year growth compared to Q2 2021 but still below its own projections of at least 20% year-over-year quarterly billings growth in 2021. IFRS revenues amount to around EUR 128m. Due to the billings' shortfall and the cost ramp up, the adjusted EBITDA margin amounts to around 34% for the third quarter and approximately 48% for 9M 2021.

The expected quarter-on-quarter improvement of the net retention rate (NRR) materialized with NRR of nearly 100% in Q3 2021 vs. 88% in Q2 2021. NRR in the last twelve months thereby reached c. 96%. The contribution from large Enterprise deals grew significantly, however at a slower than expected rate. Subscriber churn improved to 14.6% in Q3 2021. Overall, billings growth improved significantly towards the end of the quarter.

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Disclaimer

DGAP-Adhoc TeamViewer AG: DGAP-Ad-hoc: TeamViewer AG / Key word(s): Preliminary Results/Change in Forecast TeamViewer AG: 06-Oct-2021 / 14:19 CET/CEST Disclosure of an inside information acc. to Article 17 MAR of the Regulation (EU) No 596/2014, transmitted by DGAP - a …

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