Slide 1: Q1/3M 2025 Results Presentation
Q1/3M 2025 Results Presentation 6 May 2025
Slide 2: Important Notice / APMs
Important Notice / APMs This presentation as well as any information communicated in connection This document contains alternative performance measures (APM) that are therewith (the “Presentation”) contains information regarding TeamViewer not defined under IFRS. The APMs (non-IFRS) can be reconcile
Slide 3: Important Notice / APMs (continued)
Important Notice / APMs (continued) • Net Retention Rate (NRR) (cc) is defined as Retained ARR (cc) at the end • Adjusted Net Income is the net income adjusted for certain income and of the reporting period divided by the Total ARR at the end of the prior- expenses. These adjustments are: share-base
Slide 4: Business Overview
Business Overview Oliver Steil (CEO)
Slide 5: Highlights
Highlights Good start into 2025 with strong Enterprise and 1E yoy growth and strong profitability Strong profitable pro forma Pro forma Enterprise Revenue Pro forma ARR up 7 % cc yoy on Revenue growth (+7 % cc yoy) up 21 % cc yoy, supported by the back of successful up- and with strong contribution
Slide 6: Continued topline yoy growth across all regions
Continued topline yoy growth across all regions Enterprise achieved strong double-digit growth yoy Regional Development Customer Categories (pro forma Revenue, % yoy) (pro forma, % yoy) EMEA 51 % €97.6m (+7 % | 6 % cc) AMERICAS 39 % ENT SMB €74.3m (+10 % | 10 % cc) 31 % 69 % Revenue: Revenue: €59.9m
Slide 7: Strong double-digit growth in Enterprise across all ARR value ranges
Strong double-digit growth in Enterprise across all ARR value ranges SMB (ARR view) Enterprise (ARR view) (€m; % yoy cc; pro forma) (€m; % yoy cc; pro forma) € 1,500 - <10,000 ARR € >200,000 ARR 535.2 525.0 € 500 - <1,500 ARR 224.4 € >100,000 ARR € <500 ARR € >50,000 ARR 185.6 € 10,000 - 50,000 ARR
Slide 8: Focus of Q1: Building ENT pipeline and accelerated SMB business
Focus of Q1: Building ENT pipeline and laying the ground for accelerated SMB business for the remainder of 2025 Enterprise: Participating in major industry events and hosting own SMB: As a market leader in remote access and support, TeamViewer is activities enables conversations with customers, pros
Slide 9: Post-merger integration of 1E on track, first integrated products launched
Post-merger integration of 1E on track, first integrated products launched Accelerate business growth and maximize customer benefits as quickly as possible Expected Duration 0-3 months 4-6 months 7-9 months 10-12 months Post-Closing Enable Enterprise cross- Mobilize selling and pipeline Integrated G
Slide 10: New product in early-access-program: DEX Essentials add-on
New product in early-access-program: Offering DEX to existing SMB customers through add-on license + New TeamViewer Remote DEX Essentials existing license add-on license Benefits: • Accessible through existing TeamViewer login • Remediations for most common issues • “Fix once & fix forever” through
Slide 11: New brand campaign: Make work work better
New brand campaign launched end of April Make work work better 11 TeamViewer | Q1 2025 Results
Slide 12: Financial Overview
Financial Overview Michael Wilkens (CFO)
Slide 13: Q1 2025: yoy growth in pro forma Revenue, ARR & Adjusted EBITDA
Q1 2025: yoy growth in pro forma Revenue, ARR & Adjusted EBITDA; 4 pp yoy margin expansion Topline KPIs Q1 2025 Profitability / Cash Q1 2025 (% and pp yoy; pro forma) (% and pp yoy; pro forma) €190.3m €81.7m Revenue Adjusted EBITDA +7 %/+7 % cc +20 % €759.5m Adjusted EBITDA 43 % ARR +7 %/+7 % cc Mar
Slide 14: Continued growth yoy improving profitability
Continued growth yoy improving profitability Quarterly Revenue and Growth Rates ARR and Growth Rates Adjusted EBITDA and Margin (€m; %; pro forma, (€m; %; pro forma, (€m; %; pro forma) Q1–Q4 2024 yoy growth rates reflect TeamViewer standalone) Q1–Q4 2024 yoy growth rates reflect TeamViewer standalon
Slide 15: Double-digit Enterprise growth in ARR and Revenue
Double-digit Enterprise growth in ARR and Revenue 1 2 Quarterly ENT Revenue and Growth Rates ENT ASP (ARR) ENT Customers (€m; %; pro forma; Q1–Q4 2024 yoy growth rates reflect TeamViewer standalone) (€k; pro forma) (eop; pro forma) 63.8 44 44 45 44 59.9 42 55.2 49.0 51.7 4,957 5,044 4,426 4,573 4,69
Slide 16: Solid SMB performance
Solid SMB performance 1 2 Quarterly SMB Revenue and Growth Rates SMB ASP (ARR) SMB Customer churn rate (€m; %; pro forma; Q1–Q4 2024 yoy growth rates reflect TeamViewer standalone) (€; pro forma) (%; LTM; pro forma) 128.0 129.1 131.6 131.5 130.4 813 796 796 803 795 14.8 % 14.6 % 14.6 % 15.0 % 15.3 %
Slide 17: Strong Adj. EBITDA margin of 43% despite continued investment in growth
Strong Adj. EBITDA margin of 43 % despite continued investment in growth Q1 2025 Q1 2024 Q1 2025 Recurring Cost stable yoy in € million ∆% Pro forma Pro forma • COGS: Phasing effects, continued Revenue 190.3 177.1 +7 % invest in product platform and Cost of Goods Sold (COGS) (16.2) (14.4) +13 % depl
Slide 18: Pro forma Adjusted EPS of €0.29 up 30% yoy
Pro forma Adjusted EPS of €0.29 up 30 % yoy vs TMV standalone Q1 2025 Q1 2024 €m IFRS TMV ∆% standalone EBITDA 66.6 53.0 +26 % • Higher EBITDA yoy due to optimized D&A (13.4) (14.3) -6 % sponsorship cost and due to 1E in Operating Profit (EBIT) 53.2 38.7 +37 % the Q1 2025 mix Financial / FX result (
Slide 19: Continued solid Cash Conversion in Q1 2025
Continued solid Cash Conversion in Q1 2025 Q1 2025 Q1 2024 €m Non-pro TMV ∆% 1 forma standalone Pre-Tax net cash from operating activities (IFRS) 46.7 61.5 -24 % Capital expenditure (excl. M&A) (1.0) (1.9) -47 % • Decrease of pre-tax UFCF due to a Lease payments (1.5) (1.4) +10 % one-off payment in
Slide 20: Pro forma net leverage ratio on track at 3.1x
Pro forma net leverage ratio on track at 3.1x targeting below 2.0x by end of 2026 Leverage already improved to 3.1x (€m) Post-1E, deleveraging to <2.0x by the end of 2026 3.2x 3.1x <2.0x Proceeds Cash/Cash Op. Cash CapEx incl. Paid from Cash/Cash Financial Net Finan. 1 2 3 Equivalents Flow M&A Inter
Slide 21: FY 2025 Pro forma figures
FY 2025 Pro forma figures Pro forma guidance In preparation of the pro forma figures, the selected historical 2024 pro forma financials of TeamViewer and 1E separately and FY 2024 Actuals, FY 2025 Guidance, combined have been included for like-for-like YoY comparison 1 purposes only: TMV+1E unaudite
Slide 22: Q&A
Q&A
Slide 23: Appendix
Appendix © TeamViewer
Slide 24: Overview Topline KPIs
Overview Topline KPIs Q1’25 Q4’24 Q3’24 Q2’24 Q1’24 Pro forma Pro forma Pro forma Pro forma Pro forma SMB 2 ARR in €m 535.2 533.4 529.6 528.8 525.0 ASP (ARR) in € 812.9 802.8 796.3 796.2 794.7 1 Number of customers 658,327 664,461 665,147 664,197 660,683 Enterprise 2 ARR in €m 224.4 223.9 208.0 201.
Slide 25: Q1 2025: Reconciliation management metrics to IFRS
Q1 2025: Reconciliation management metrics to IFRS Pro forma Accounting Management view Pro forma Management view Other non-IFRS view 1 €m adjusted P&L adjustments Revenue adj. P&L D&A adjustments IFRS P&L Revenue 190.3 (11.5) 178.8 0.0 0.0 178.8 Cost of Goods Sold (COGS) (16.2) 0.7 (15.6) (7.7) (1.
Slide 26: Non-IFRS adjustments in EBITDA
Non-IFRS adjustments in EBITDA Basis of €m (unless otherwise stated) preparation Q1 2025 / definition Non-IFRS EBITDA adjusted by EBITDA IFRS 66.6 1) non-recurring items Total IFRS 2 charges (expenses for share-based compensation) APM +6.5 • IFRS2, mainly RSU and LTIP TeamViewer LTIP APM +1.7 1 • 1E
Slide 27: Financial Statements
Financial Statements © TeamViewer
Slide 28: Profit & Loss Statement (IFRS)
Profit & Loss Statement (IFRS) € thousand Q1 2025 Q1 2024 ∆% Revenue 178,753 161,654 +11 % Cost of Goods Sold (COGS) (24,518) (22,088) +11 % Gross profit 154,235 139,567 +11 % Research and development (23,168) (19,742) +17 % Marketing (27,344) (35,505) -23 % Sales (32,978) (28,259) +17 % General and
Slide 29: Balance Sheet – Assets (IFRS)
Balance Sheet – Assets (IFRS) € thousand 31 March 2025 31 December 2024 Non-current assets Goodwill 1,163,874 668,091 Intangible assets 387,448 149,006 Property, plant and equipment 40,574 41,457 Financial assets 5,328 5,412 Investments in associates 18,334 20,862 Other assets 24,348 22,440 Deferred
Slide 30: Balance Sheet – Equity & Liabilities (IFRS)
Balance Sheet – Equity & Liabilities (IFRS) € thousand 31 March 2025 31 December 2024 Equity Issued capital 170,000 170,000 Capital reserve 64,017 70,327 (Accumulated losses)/retained earnings 57,523 27,893 Hedge reserve (144) 5,822 Foreign currency translation reserve (17,725) 4,653 Treasury share
Slide 31: Cash Flow Statement (IFRS)
Cash Flow Statement (IFRS) € thousand Q1 2025 Q1 2024 ∆% Profit before tax 44,026 32,927 34 % Depreciation, amortization and impairment of non-current assets 13,372 14,269 -6 % Increase/(decrease) in provisions (8,314) 340 n/a Non-operational foreign exchange (gains)/losses 269 6 n/a Expenses for eq
Slide 32: Cash Flow Statement (IFRS, continued)
Cash Flow Statement (IFRS, continued) € thousand Q1 2025 Q1 2024 ∆% Repayments of borrowings 0 (100,000) -100 % Proceeds from borrowings 720,000 90,000 n/a Payments for the capital element of lease liabilities (1,504) (1,361) 10 % Interest paid on borrowings and lease liabilities (8,985) (5,771) 56
Slide 33: Financial Calendar
Financial 28 May 2025 Annual General Meeting Calendar 29 July 2025 Q2/H1 2025 Results & Analyst Call 4 November 2025 Q3 2025 Results & Analyst Call
Slide 34: TeamViewer
TeamViewer