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TeamViewer AG Interim / Quarterly Report 2026
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Interim / Quarterly Report
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TeamViewer
Q1 2026 Results
6 May 2026
The Digital Workplace Company
Important Notice / APMs
This presentation as well as any information communicated in connection therewith (the "Presentation") contains information regarding TeamViewer SE (the "Company") and its subsidiaries (the Company, together with its subsidiaries, "TeamViewer"). It is provided for information purposes only and should not be relied on for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for any other purpose.
Certain statements in this presentation may constitute forward-looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties, including, but not limited to, those risks and uncertainties described in TeamViewer's disclosures. You should not rely on these forward-looking statements as predictions of future events, and TeamViewer's actual results may differ materially and adversely from any forward-looking statements discussed in these statements due to several factors, including without limitation, risks from macroeconomic developments, external fraud, lack of innovation capabilities, inadequate data security and changes in competition levels. TeamViewer undertakes no obligation, and does not expect to publicly update, or publicly revise, any forward-looking statement, whether as a result of new information, future events or otherwise.
All subsequent written and oral forward-looking statements attributable to it or to persons acting on its behalf are expressly qualified in their entirety by the cautionary statements referred to above and contained elsewhere in this Presentation.
All stated figures are unaudited.
Percentage change data and totals presented in tables throughout this presentation are generally calculated on unrounded numbers. Therefore, numbers in tables may not add up precisely to the totals indicated and percentage change data may not precisely reflect the change data of the rounded figures for the same reason.
This document contains alternative performance measures (APM) that are not defined under IFRS. The APMs (non-IFRS) can be reconciled to the key performance indicators included in the IFRS consolidated financial statements and should not be viewed in isolation, but only as supplementary information for assessing the operating performance. TeamViewer believes that these APMs provide an additional, deeper understanding of the Company's performance.
TeamViewer
Q1 2026 Results
Important Notice / APMs (continued)
TeamViewer has defined each of the following APMs as follows:
- Adjusted EBITDA is defined as operating income (EBIT) according to IFRS, plus depreciation and amortization of tangible and intangible fixed assets (EBITDA), adjusted for certain business transactions (income and expense) defined by the Management Board in agreement with the Supervisory Board. Business transactions to be adjusted relate to share-based compensation schemes and other material special items of the business that are presented separately to show the underlying operating performance of the business.
- Adjusted EBITDA margin means Adjusted EBITDA as a percentage of revenue.
- Billings represent the value (net) of goods and services invoiced to customers within a specific period and which constitute a contract as defined by IFRS 15.
- Annual Recurring Revenue (ARR) is annualized recurring revenue for all active subscriptions at the end of the reporting period. It is calculated by multiplying the daily subscription revenue at the end of the reporting period by 365 days (or 366 days for leap years). Daily subscription revenue is calculated as the total active contract value divided by the contract duration in days. The end of the reporting period is defined as the last calendar day of the respective period.
- Retained ARR is defined as the ARR at the end of the reporting period from customers that were already a customer at the end of the prior-year reporting period.
- Net Retention Rate (NRR) (cc) is defined as Retained ARR (cc) at the end of the reporting period divided by the total ARR at the end of the prior-year reporting period.
- Number of customers means the total number of paying customers with an active subscription at the reporting date.
- SMB customers means customers with ARR across all products and services of less than EUR 10,000 at the end of the reporting period. If the threshold is exceeded, the customer will be reallocated.
- Enterprise customers means customers with ARR across all products and services of at least EUR 10,000 at the end of the reporting period. Customers who do not reach this threshold will be reallocated.
-
Customer churn rate means the percentage of customers not retained during the last twelve-month period. It is calculated as 100% minus the number of customers that were retained (no new customers) during the last twelve months divided by the total number of customers twelve months ago.
-
Average Selling Price (ASP) is calculated by dividing the total ARR by the total number of customers at the reporting date.
- Net financial liabilities are defined as financial liabilities (without other financial liabilities) less cash and cash equivalents.
- Net leverage ratio means the ratio of net financial liabilities to Adjusted EBITDA of the last twelve-month period.
- Levered Free Cash Flow (FCFE) means net cash from operating activities less capital expenditure for property, plant and equipment and intangible assets (excl. M&A), payments for the capital element of lease liabilities and interest paid for borrowings and lease liabilities.
- Cash Conversion means the percentage share of Levered Free Cash Flows (FCFE) in relation to the Adjusted EBITDA.
- Adjusted Net Income is the net income adjusted for certain income and expenses. These adjustments are: share-based compensation, amortization related to business combinations, other non-recurring income and expenses and related tax effects.
- Adjusted basic earnings per share is calculated in line with basic earnings per share, whereby Adjusted Net Income is used as the basis for the calculation instead of the net income.
- Constant currency (cc) comparisons eliminate the impact of exchange rate fluctuations between different periods.
- "Pro forma" refers to TeamViewer group numbers including 1E numbers before closing (unaudited management view at the time of acquisition) as well as a reversal of negative M&A effects on revenue ("haircut") after closing of the transaction. Pro forma numbers are prepared for comparative purposes and should be read in conjunction with financial statements. They are not necessarily indicative of the results that would have been attained if the transaction had taken place on a different date.
TeamViewer
Q1 2026 Results
Business Overview
Oliver Steil
Chief Executive Officer
Mark Banfield
Chief Revenue Officer
The Digital Workplace Company
TeamViewer
Q1 2026: Revenue in line with expectations, Enterprise ARR up +8% cc, full-year 2026 guidance reaffirmed
Topline broadly stable, in line with expectations:
- Revenue €183.2m (-0.4% cc yoy¹)
- ARR €737.3m (+0.2% cc yoy)
1
Growth in Q1 impacted by one-off 1E churn and SMB course correction measures
2
Maintaining best-in-class profitability:
- Adjusted EBITDA €83.0m (+2% yoy); margin of 45.3%, as anticipated
3
Full-year 2026 guidance reaffirmed:
- H2 ARR growth acceleration on track
4
AI adoption is scaling rapidly: firmly embedded in customer workflows; >1.4m cumulative AI sessions generated
5
TeamViewer ONE gains commercial momentum: growth is accelerating, early deals closing faster than expected
6
¹ YoY revenue growth rate is compared to Q1 2025 comparable pro forma Revenue of €190.3m
TeamViewer
Q1 2026 Results
Healthy underlying Enterprise ARR growth
DEX temporarily impacted by anticipated effects
ARR breakdown Q1 2026
In € million
| SMB 507 | Enterprise 231 | ||
|---|---|---|---|
| YoY (cc): | |||
| +1% | 1.5k-10k | Enterprise | |
| non-DEX (>10k) | YoY (cc): | ||
| +18% | |||
| 258 | |||
| (35%) | 174 | ||
| (24%) | |||
| YoY (cc): | |||
| -6% | <1.5k | ||
| 248 | |||
| (34%) | >10k DEX | ||
| 56 | |||
| (8%) | |||
| YoY (cc): | |||
| -16% |
Enterprise ex-DEX (+18% yoy)
Continued double digit growth in underlying TMV Enterprise business
DEX (-16% yoy)
One-off churn effects are now largely complete and remaining customer base is stable
Higher end SMB (+1% yoy)
Large base of customers with significant upsell potential
Lower end SMB (-6% yoy)
Ongoing course correction measures to revitalize
TeamViewer
Q1 2026 Results
TMV ONE: Early momentum with high-value expansion
C
TeamViewer
Q1 2026 Results
7
TMV ONE: Extending our growth runway, tapping into a proven upsell engine
TeamViewer ONE
Pattern repetition of proven upsell motions, supported by AI innovation
Corporate-2-Tensor
Feature-led migration of Corporate customers to advanced Tensor licenses
Corporate Channel Upgrades
Capacity-driven expansions for customers on a Corporate license
Perpetual-2-Saas
Product-wide migration of customer base to recurring SaaS licenses
TeamViewer
Q1 2026 Results
8
TMV ONE: Upcoming release of market-leading AEM innovation to accelerate platform pull
TeamViewer
Q1 2026 Results
Head of Service Desk, MSP
I'm impressed [...], that you can bring [Tia] to each of our problems.
System Engineer, MSP
It's crazy that something like this works and can be done. [Tia will probably make our work really easy in the future.]
Source: Interviews with selected experts from existing customers in February and March 2026
Strong AI adoption momentum as evidenced by major milestone of one million AI sessions
> >26k
Customers that have used TeamViewer AI¹
Strong and scaling customer traction underscoring structural data advantage for unique AEM innovation
- Total number of customers that have used TeamViewer AI as of May 5, 2026
- Number of cumulative AI sessions summarized as of May 5, 2026
>1.4m
cumulative AI sessions²
TeamViewer
Q1 2026 Results
AI Opportunity: A structural tailwind for TeamViewer
Market
AI shifts IT gradually from reactive to autonomous management; risk averse I&O leaders stick with trusted vendors as security stakes rise
Human work decreases long-term, but operational IT/OT endpoints continue to grow in number and value as AI moves to the edge and IoT penetration accelerates
AI innovation allows TeamViewer to leapfrog into the autonomous IT market and expand TAM meaningfully from remote support to endpoint management
Moat
More than a cloud app: one of the biggest endpoint footprints globally with expansion potential in 620k+ customers moving to managed devices
Two proprietary data streams at scale, expert RS/RA sessions and deep DEX telemetry, driving a unique AI proposition with compounding flywheel effect
Deeply entrenched in global infrastructure stack as trusted, vendor-agnostic leader across IT/OT domains, evidenced by partnerships and integrations
Model
Expansion into AEM category is driven by existing GTM as we are already selling to the relevant buyer persona with Tensor IT/OT and DEX deals
TeamViewer ONE is not an AI add-on feature play but Best-of-Suite with AI-native core, compounding commercial pull for a repeatedly proven upsell play
Strategic transition from seat to endpoint and value pricing anchored in TeamViewer's endpoint footprint and productivity ROI
TeamViewer
Q1 2026 Results
11
Strong customer testimonials from early adopters on value delivered
TeamViewer
Q1 2026 Results
12
ROI & Efficiency
"Substantial efficiency gain with 25% faster resolution on recurring issues and 25–50h saved a month on manual documentation."
Co-President, US-based Managed Service Provider (10+ employees)
Insight & Knowledge
"Session Insights help to identify recurring issues and define countermeasures — even write automations."
IT Manager, Retail Operations (500+ employees)
Audit & Compliance
"Session Summaries provides a lot of value through the delivery of easy proof-of-service and back-up of Service Level Agreements (SLAs)."
IT Infrastructure Expert, Large IT Services Provider (5,000+ employees)
GTM Execution: Sharpened commercial engine already driving commercial momentum
Q1
Well-invested Sales Organization
-
New leadership
President AMER and EVP Inside Sales with deep domain expertise -
Unified GTM model
One global sales organization, one playbook across SMB and ENT -
Step change in tooling
Revenue operating system with Salesforce in final roll-out
Intensified GTM Activation
-
TeamViewer ONE resonating
Strong market feedback on unified value proposition -
Scaling market presence
Brand campaigns and events ramping ahead of AEM release -
Partner-led growth
Channel motion validated at EMEA summit, AMER to follow
Building Deal Momentum
-
Accelerating pipeline
Strong leading indicators on progression and conversion -
Enterprise
TeamViewer ONE winning strategic flagship customers -
SMB
Positive reception of reduced friction and refined monetization
TeamViewer
Q1 2026 Results
13
Flagship customer deals evidence strong value proposition across the business
TeamViewer ONE
Leading German bicycle retailer
Scale: 40+ local retail shops
Key differentiator: Reliable internal IT for distributed retail operations
Use Case: Managing internal IT across a distributed retail and workshop network to ensure stable operations and good customer experience.
DEX
Global digital transformation provider
Scale: 2,500 endpoints
Key differentiator: Real-time automation and response
Use Case: Integrating acquired companies into a centralized IT model while maintaining service desk teams, delivering tangible ROI.
Tensor OT
Global leader in agricultural machinery
Scale: Almost 100,000 endpoints
Key differentiator: OEM – embedded remote access at scale
Use Case: Embedding secure remote access into connected farming machinery to enable digital services and remote diagnostics at global scale.
Large Q2 Upsell
Contract Expansion in flagship DEX account
One of the largest integrated healthcare systems in US with ~600,000 endpoints now at >$10m ARR
TeamViewer
Q1 2026 Results
14
Financial Overview
Michael Wilkens
Chief Financial Officer
The Digital Workplace Company
TeamViewer
Q1 2026: Revenue in line with expectations, Enterprise ARR up +8% cc, full-year 2026 guidance reaffirmed
| Revenue | ARR | Adjusted EBITDA |
|---|---|---|
| €183.2m | ||
| -0.4% cc yoy^{1} | €737.3m | |
| +0.2% cc yoy | €83.0m | |
| +2% yoy | ||
| Adjusted EBITDA Margin | ||
| 45.3% | ||
| +2 pp yoy | Basic EPS / Adjusted EPS | |
| €0.22 / €0.29 | ||
| +15% yoy / -1% yoy | Net Leverage Ratio | |
| 2.5x |
1 YoY revenue growth rate is compared to Q1 2025 comparable pro forma Revenue of €190.3m.
TeamViewer
Q1 2026 Results
16
Key P&L and other financial KPIs development
Q1 2026: phasing as expected
| in € million (unless otherwise stated) | Q1 2026 | Q1 2025 | Δ % |
|---|---|---|---|
| Revenue^{1} | 183.2 | 190.3 | -4% |
| Cost of Goods Sold (COGS)^{1,2} | (14.9) | (16.2) | -8% |
| Gross profit^{1,2} | 168.2 | 174.1 | -3% |
| % Margin^{1,2} | 92% | 91% | 0 pp |
| Total Opex^{1,2} | (85.3) | (92.4) | -8% |
| Adjusted EBITDA^{1} | 83.0 | 81.7 | +2% |
| % Margin^{1} | 45% | 43% | +2 pp |
| D&A | -13.2 | -13.4 | -1% |
| Operating Profit (EBIT) | 61.9 | 53.2 | +16% |
| Net income | 34.2 | 29.6 | +15% |
| Basic number of shares issued and outstanding in m | 157.8 | 157.0 | 1% |
| EPS (basic) in € | 0.22 | 0.19 | +15% |
| Adjusted EPS (basic)^{1} in € | 0.29 | 0.29 | -1% |
| Levered Free Cash Flow (FCFE) | 23.8 | 44.5 | -47% |
| Cash conversion (FCFE / Adjusted EBITDA^{3}) | 29% | 54% | |
| Net debt | 870.0 | 1,027.7 | -15% |
| Net leverage ratio^{4} | 2.5x | 3.1x |
- Revenue growth (cc) broadly stable yoy alongside strong profitability and normal anticipated cash flow timing effects
- Ongoing organic investments in Sales and Research & Development, while deliberately phasing Marketing cost ahead of Q2 commercial activation
- Net leverage ratio sequentially improved; remain firmly on track for around 2.3x year-end target
TeamViewer
Q1 2026 Results
Continued strong operating cash flow short-term timing effects to normalize over the year
| in € million (unless otherwise stated) | Q1 2026 | Q1 2025 | Δ % |
|---|---|---|---|
| Pre-Tax net cash from operating activities (IFRS) | 55.2 | 46.7 | +18% |
| Capital expenditure (excl. M&A) | (1.0) | (1.0) | +1% |
| Lease payments | (7.0) | (1.5) | n/a |
| Pre-tax Unlevered Free Cash Flow (pre-tax UFCF) | 47.2 | 44.2 | +7% |
| Interest paid for borrowings and lease liabilities | (12.0) | (9.0) | +33% |
| Pre-tax Levered Free Cash Flow (pre-tax FCFE) | 35.3 | 35.2 | 0% |
| Income tax paid | (13.5) | (8.4) | +60% |
| Levered Free Cash Flow (FCFE) | 21.8 | 26.8 | -19% |
| Cash Conversion (FCFE / Adjusted EBITDA¹) | 26% | 33% | |
| Adjustment for 1E acquisition | 2.0 | 6.1 | -68% |
| Adjustment for a one-off payment in connection with special legal disputes | — | 11.6 | n/a |
| Levered Free Cash Flow (FCFE) adj. for 1E and legal disputes | 23.8 | 44.5 | -47% |
| Cash Conversion (FCFE / Adjusted EBITDA¹) after adjustments | 29% | 54% |
¹ FCFE / Pro forma adj. EBITDA for 2025.
- Continued strong pre-tax cash flow from operating activities (+18% yoy)
- Normal anticipated cash flow timing effects from taxes, interest and lease payments, as well as a temporary negative impact from net working capital
- These effects are expected to normalize over the course of the year
TeamViewer
Q1 2026 Results
FY 2026 Guidance reaffirmed
| | FY 2025 Actuals
(comparison base) | FY 2026
Guidance |
| --- | --- | --- |
| Revenue growth
(YoY constant currency vs PY pro forma basis) | €767.5m
pro forma | 0% - 3% cc^{1,2} |
| Adjusted EBITDA margin
(reported, incl. currency effects) | 44%
pro forma | ~ 43% |
FY 2026 guidance for revenue growth is at constant currencies²
Actual currency reported figures are expected to be impacted by currency exchange rate fluctuations through the year
TeamViewer's expected currency impact on revenue growth in FY 2026 is shown on slide 23
TeamViewer
Q1 2026 Results
19
¹ Revenue growth in constant currencies vs IFRS Revenue FY 2025 of €746.8m will be higher than the revenue growth in cc vs pro forma Revenue FY 2025 of €767.5m.
² Constant currency growth including an average exchange rate of 1.13 EUR/USD.
Q8:A
Appendix
The Digital Workplace Company
TeamViewer
FX impact & debt maturity profile
The Digital Workplace Company
TeamViewer
Expected currency impact: USD represents TeamViewer's largest topline foreign currency exposure
Expected FX impact Q2 & FY 2026 in revenue at spot rate on 31 Mar 2026
(compared to 2025 pro forma revenue)
| Q1 2026 (actual) | Q2 2026 (expected) | FY2026 (expected) | |
|---|---|---|---|
| Total FX Impact^{1} | -3.3pp | -3.0pp | -2.5pp |
| YoY FX Impact | -1.8pp | -1.6pp | -1.5pp |
| Additional Deferred Revenue FX Impact^{2} | -1.5pp | -1.4pp | -1.0pp |
1 Expected total FX impact on constant currency growth rate at spot rate on 31 Mar 2026.
2 The expected additional deferred revenue FX impact in Q3 is -0.8pp and Q4 is -0.3pp.
| 3 main currencies | Q1 2026 (actual average) | Q2 2026 (expected) |
|---|---|---|
| EUR/USD | 1.17 | 1.15 |
| EUR/CAD | 1.61 | 1.60 |
| EUR/AUD | 1.69 | 1.67 |
3 Constant currency growth including an average exchange rate of 1.05 USD per EUR for Q1 2025 and 1.13 USD per EUR for FY 2025.
Currency exposure vs guided YoY growth in cc:
- TeamViewer guides YoY revenue growth in constant currency
- Actual currency reported figures are expected to be impacted by currency exchange rate fluctuations through the year as reflected in the table
TeamViewer specific situation:
- TeamViewer's central invoicing model and IFRS treatment fix deferred revenue at the invoice-date FX rate, causing unavoidable FX effects when historic deferred revenue is released in revenue
- Therefore, TeamViewer provides the additional expected FX impact that comes from historic deferred revenue release to avoid systematic over/underestimation of currency movements in reported revenue
TeamViewer
Q1 2026 Results
23
Debt maturity profile as of 31 March 2026
TeamViewer
Q1 2026 Results
24
Key financials & KPIs
The Digital Workplace Company
TeamViewer
Overview Topline KPIs
| Q1 2026 | Q4 2025 Pro forma | Q3 2025 Pro forma | Q2 2025 Pro forma | Q1 2025 Pro forma | |
|---|---|---|---|---|---|
| SMB | |||||
| Revenue in €m | 126.2 | 130.9 | 134.1 | 132.0 | 130.4 |
| Revenue YoY % cc | -1% | 1% | 3% | 3% | 2% |
| ARR² in €m | 506.7 | 518.7 | 526.3 | 532.0 | 535.2 |
| ARR² YoY % cc | -3% | -1% | 0% | +1% | +2% |
| ASP (ARR) in € | 822 | 822 | 822 | 817 | 813 |
| Number of customers¹ | 616,598 | 631,373 | 640,342 | 651,221 | 658,327 |
| SMB Customer churn rate | 17% | 16% | 16% | 16% | 15% |
| Enterprise | |||||
| Revenue in €m | 57.0 | 63.8 | 57.9 | 58.7 | 59.9 |
| Revenue YoY % cc | 0% | +3% | +8% | +15% | +21% |
| ARR² in €m | 231 | 241 | 230 | 227 | 224 |
| ARR² YoY % cc | +8% | +11% | +12% | +13% | +20% |
| ASP (ARR) in € thousands | 44 | 46 | 44 | 44 | 44 |
| NRR (cc) | 93% | 96% | 97% | 98% | 103% |
| NRR (cc) adj. for net upsell from SMB | 96% | 99% | 102% | 103% | 108% |
| Number of customers¹ | 5,259 | 5,262 | 5,216 | 5,143 | 5,044 |
| Total | |||||
| ARR in €m | 737.3 | 759.7 | 756.8 | 759.1 | 759.5 |
| Revenue in €m | 183.2 | 194.6 | 192.0 | 190.7 | 190.3 |
| Revenue by region in €m | |||||
| EMEA | 100.6 | 103.1 | 101.5 | 99.8 | 97.6 |
| AMERICAS | 64.8 | 73.4 | 72.1 | 72.7 | 74.3 |
| APAC | 17.7 | 18.2 | 18.3 | 18.2 | 18.4 |
¹ Q1 2025 comparable actuals and growth rates are non-pro forma.
TeamViewer
Q1 2026 Results
Continued growth in Enterprise across all ARR value ranges
SMB (ARR view)
Enterprise (ARR view)
TeamViewer
Q1 2026 Results
27
Adjusted P&L management view based on recurring cost
| in € million (unless otherwise stated) | Q1 2026 | Q1 2025 Pro forma | Δ % |
|---|---|---|---|
| Revenue | 183.2 | 190.3 | -4% |
| Cost of Goods Sold (COGS) | (14.9) | (16.2) | -8% |
| Gross profit | 168.2 | 174.1 | -3% |
| % Margin | 92 % | 91 % | 0 pp |
| Sales | (33.0) | (31.1) | +6% |
| % of Revenue | -18% | -16% | |
| Marketing | (18.3) | (25.6) | -28% |
| % of Revenue | -10% | -13% | |
| R&D | (23.6) | (22.1) | +7% |
| % of Revenue | -13% | -12% | |
| G&A | (9.4) | (10.2) | -8% |
| % of Revenue | -5% | -5% | |
| Other¹ | (0.9) | (3.4) | -74% |
| % of Revenue | 0% | -2% | |
| Total Opex | (85.3) | (92.4) | -8% |
| % of Revenue | -47% | -49% | |
| Total Costs² | (100.2) | (108.6) | -8% |
| Adjusted EBITDA | 83.0 | 81.7 | +2% |
| % Margin | 45% | 43% | +2 pp |
¹ Incl. other income/expenses and bad debt expenses of €2.1m in Q1 2026 and €3.5m in Q1 2025.
² Total Costs are the sum of Cost of Goods Sold (COGS) and Total Opex.
TeamViewer
Q1 2026 Results
Q1 2026: Reconciliation management metrics to IFRS
| in € million (unless otherwise stated) | Management view Revenue adj. P&L | D&A | Other non-IFRS adjustments | Accounting view IFRS P&L |
|---|---|---|---|---|
| Revenue | 183.2 | 183.2 | ||
| Cost of Goods Sold (COGS) | (14.9) | (9.4) | 0.0 | (24.4) |
| Gross profit contribution | 168.2 | 158.8 | ||
| % of Revenue | 92% | 87% | ||
| Sales | (33.0) | (1.3) | (0.4) | (34.8) |
| Marketing | (18.3) | (0.6) | 0.0 | (18.9) |
| R&D | (23.6) | (1.4) | (0.4) | (25.5) |
| G&A | (9.4) | (0.5) | (3.0) | (12.9) |
| Other¹ | (0.9) | 0.0 | (3.9) | (4.8) |
| Adj. EBITDA | 83.0 | |||
| % of Revenue | 45% | |||
| D&A (ordinary only)² | (5.5) | |||
| Adj. EBIT / Operating profit (EBIT) | 77.5 | (7.8)³ | (7.9) | 61.9 |
| % of Revenue | 42% | 34% | ||
| D&A (total)²⁺³ | 13.2 | |||
| EBITDA | 75.1 | |||
| % of Revenue | 41% |
¹ Incl. other income/expenses and bad debt expenses of €2.1m
² D&A excl. amortization intangible assets from PPA
³ Amortization intangible assets from PPA
TeamViewer
Q1 2026 Results
Non-IFRS adjustments in EBITDA
| in € million (unless otherwise stated) | Basis of preparation / definition | Q1 2026 | Q1 2025 |
|---|---|---|---|
| EBITDA | APM | 75.1 | 66.6 |
| Total IFRS 2 charges (expenses for share-based compensation) | APM | +0.9 | +6.5 |
| TeamViewer LTIP | APM | -0.1 | +1.7 |
| RSU/PSU¹ | APM | +1.0 | +3.8 |
| M&A related share-based compensation | APM | 0.0 | +0.1 |
| Share-based compensation by TLO² | APM | 0.0 | +0.9 |
| 1E acquisition related integration & transaction costs | APM | +2.0 | +5.6 |
| Other material items | APM | +1.1 | +3.0 |
| Financing | APM | 0.0 | 0.0 |
| Other | APM | +1.1 | +3.0 |
| Valuation effects | APM | 3.9 | -5.5 |
| Adjusted EBITDA | APM | 83.0 | 76.2 |
| Add back: | |||
| 1E deferred revenue haircut | Pro forma adjustment | n/a | +5.4 |
| 1E January 2025 Adjusted EBITDA | Pro forma adjustment | n/a | 0.0 |
| Adjusted EBITDA³ | 83.0 | 81.7 | |
| Adjusted EBITDA margin (%)³ | APM | 45% | 43% |
Non-IFRS EBITDA adjusted by
1) non-recurring items
- IFRS2, mainly RSU
- 1E acquisition related items
- Other material items including costs related to legal disputes
- Valuation effects from fair value derivatives of future USD hedges due to changing EUR/ USD development
¹ Refers to the Restricted Stock Unit Plan (RSU) and Phantom Stock Unit Plan (PSU) introduced by TeamViewer in 2022.
² Pre-IPO management incentive program provided by Tiger LuxOne S.à r.l.
³ 2025 comparables contain pro forma adjustments.
TeamViewer
Q1 2026 Results
30
EBITDA to net income
| in € million (unless otherwise stated) | Q1 2026 | Q1 2025 | Δ % |
|---|---|---|---|
| EBITDA | 75.1 | 66.6 | +13% |
| D&A | (13.2) | (13.4) | -1% |
| Operating Profit (EBIT) | 61.9 | 53.2 | +16% |
| Financial / FX result | (10.9) | (7.0) | +56% |
| Share of profit/loss of associates | (0.8) | (2.2) | -61% |
| Profit before tax (EBT) | 50.1 | 44.0 | +14% |
| Income taxes | (15.9) | (14.4) | +11% |
| Net income | 34.2 | 29.6 | +15% |
| Basic number of shares issued and outstanding¹ in m | 157.8 | 157.0 | +1% |
| EPS (basic) in € | 0.22 | 0.19 | +15% |
| Adjusted EPS (basic)² in € | 0.29 | 0.29 | -1% |
¹ Period average, without treasury shares.
² 2025 comparables contain pro forma adjustments.
TeamViewer
Q1 2026 Results
Adjusted net income & EPS
| in € million (unless otherwise stated) | Basis of preparation/definition | Q1 2026 | Q1 2025 |
|---|---|---|---|
| Net income | IFRS | 34.2 | 29.6 |
| Expenses for share-based compensation | APM | 0.9 | 6.5 |
| PPA depreciation and amortization | APM | 7.8 | 6.1 |
| Other material items | APM | 6.9 | 3.1 |
| Extraordinary effects in finance result | APM | -0.4 | 1.5 |
| Income tax items to be adjusted | APM | -4.2 | -4.2 |
| Adjusted net income | APM | 45.3 | 42.7 |
| Add back / deduct: | |||
| 1E deferred revenue haircut^{1} | Pro forma adjustment | n/a | 4.1 |
| 1E January 2025 adjusted net income | Pro forma adjustment | n/a | -1.1 |
| Adjusted net income^{2} | 45.3 | 45.6 | |
| Basic number of shares issued and outstanding | 157,794,594 | 156,966,162 | |
| Adjusted earnings per share – basic (in €)^{2} | APM | 0.29 | 0.29 |
- 1E revenue haircut Q1 2025 post tax at assumed 25% corporate tax rate.
- 2025 comparables contain pro forma adjustments.
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Q1 2026 Results
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Financial Calendar
-
2 June 2026
Annual General Meeting -
28 July 2026
Q2/H1 2026 Results & Analyst Call -
3 November 2026
Q3 2026 Results & Analyst Call
The Digital Workplace Company
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