These recent developments show that TeamViewer is well positioned to capitalize on the increased adoption of Industrial Metaverse technologies such as AR, MR and AI over time.ĭuring the quarter, TeamViewer hired two experienced executives for its Senior Leadership Team. Similar projects are underway across all regions. Since the end of last year, Nadro, the largest Mexican wholesaler for the healthcare industry, is using TeamViewers Frontline picking solution integrated with SAPs extended warehouse management software. TeamViewer also continued to drive Frontline projects together with its strategic industry partner SAP. This is part of TeamViewers strengthened verticalization approach, which includes a dedicated go-to-market strategy for its vision picking offering. This proves that TeamViewers leading security posture is a convincing sales argument, especially when approaching new customers.Īdditionally, TeamViewer was able to replicate successful Frontline projects such as a logistics use case in the bottling industry in AMS, and a food preparation use case at a fast-food chain in APAC. Their most important decision criterion was the products compliance with all relevant security and privacy requirements in the highly regulated banking and financial services industry. For example, one of the four largest banks in Australia and New Zealand chose TeamViewers enterprise connectivity solution Tensor to remotely support their more than 40,000 employees in case of IT problems. Looking at the Enterprise business, TeamViewer was able to close some larger deals in Q2 despite a difficult market environment. With the launch, the company was able to generate increased awareness for its core SMB offering and to strengthen its leadership position in that space. A few weeks later and building on very constructive user feedback, a significant portion of the active TeamViewer Remote global user base is using the continuously enhanced product with its new user interface. In Q2 2023 TeamViewer successfully launched TeamViewer Remote, the next generation of its iconic remote access and support product for SMB and non-commercial usage. On the back of this, the definition of the Adjusted EBITDA changed from a Billings to a Revenue perspective. Number of subscribers 2 (LTM) (in thousands)Ĭash flows from operating activities (in EUR m)Ĭash flows from investing activities (in EUR m)Įmployees full-time equivalents (end of period)Īdjusted basic earnings per share (in EUR)ģ Since beginning of FY 2023, TeamViewer uses an updated KPI framework, with Revenue (IFRS) moving more into focus. With new experienced leaders joining our team, we are doubling down on our strategic initiatives and innovation capabilities to achieve the next milestones on our growth path. Hence, we are well on track to reach our full year guidance. « We closed Q2 with double-digit revenue growth of 12% and continued strong profitability with an Adjusted EBITDA margin of 41%. Additionally, we executed well on our Enterprise growth plan despite a difficult market environment. With the launch of TeamViewer Remote we improved our core offering even further and strengthened our leadership position. We are pleased that the SMB business remains a strong driver of our success. « Our Q2 financials show that our recent investments into people, product capabilities and marketing are paying off. New members in Management Board and Senior Leadership Team. High Net Retention Rate of 109%, evidence of sustained high customer satisfaction levels.Adjusted EBITDA margin of 41% well in line with guidance consistently high cash conversion.
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