Teamviewer SeXETR: TMV

Q2 2026 Ergebnis (260728 TMV Q2 2026 FINAL Presentation)

· Issued by Teamviewer Se
Q2 2026 Results

28 July 2026

The Digital Workplace Company



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.

    Q2 2026 Results

    3



  • 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.

Business Overview

Oliver Steil

Chief Executive Officer

Mark Banfield

Chief Revenue Officer

The Digital Workplace Company



Q2 2026: DEX turnaround and TeamViewer ONE platform momentum; FY guidance reaffirmed

DEX turnaround fueling TeamViewer ONE rapid scaling and Enterprise growth: highest-value ENT ARR bucket up +11% cc yoy

Leading operational indicators moved in the right direction, previously disclosed effects are leveling off

Strategic position validated by landmark ServiceNow partnership, leading industry analysts and FedRAMP milestone; reinforcing long-term

1 2 growth opportunities 3

Revenue €182.7m (-1.4% cc yoy1); ARR €736.8m (-0.1% cc

yoy); growth acceleration

expected in H2 2026

Profitability remained strong Adjusted EBITDA €78.9m; margin of 43.2%

Full-year guidance reaffirmed: Revenue growth 0% to 3% cc yoy, Adjusted EBITDA margin ~43%

4 5 6

1 YoY revenue growth rate is compared to Q2 2025 comparable pro forma Revenue of €190.7m.

Q2 2026 Results 5



Enterprise ARR momentum strengthened,

DEX turnaround fueled TeamViewer ONE adoption

ENT ARR change quarter-over-quarter

(in m€ adjusted for FX effects)

Enterprise ARR momentum turned positive in Q2, showing the improving customer adoption and expansion trends

Daily Avg. Billings within month

(in k€)

70

34

Oct-25 Nov-25 Dec-25 Jan-26 Feb-26 Mar-26 Apr-26 May-26 Jun-26

TMV ONE Standard TMV ONE Advanced

Q2 2026 Results 6





Enterprise platform strategy gaining traction: highest-value ARR bucket up +11% cc

TeamViewer ONE adoption accelerated, driven by strong cross-sell and upsell momentum across DEX and Tensor, with several strategic DEX customers migrating to TeamViewer ONE and generating meaningful ARR uplift.

235.5

+8% cc

227.1

Enterprise (ARR view)

(€m; % yoy cc; pro forma)

€ >200,000 ARR

€ >100,000 ARR

€ >50,000 ARR

€ 10,000 - 50,000 ARR

Q2 2025

Q2 2026

86.8

83.5

31.9

33.5

29.9

29.3

+7% cc

+3% cc

+10% cc

85.9

+11% cc

81.7

Enterprise NRR

(%; cc; pro forma)



Early signs of stabilization in SMB churn

churn expected to continue moderating in H2 2026



SMB (ARR view)

(€m; % yoy cc; pro forma)

532.0

-4% cc

501.4

€ 1,500 - <10,000 ARR

€ 500 - <1,500 ARR

€ <500 ARR

0% cc

-6% cc

Q2 2025

Q2 2026

97.2

-8% cc

101.1

147.0

163.7

257.1

267.3

SMB ARR change quarter-over-quarter

(in m€ adjusted for FX effects)

SMB trends showed encouraging sequential improvement in Q2 2026, churn expected to continue moderating in H2 2026

Landmark strategic partnership with ServiceNow to deliver autonomous IT

Platform Integration: TeamViewer's market-leading DEX and Remote Connectivity solutions integrated with the ServiceNow AI Platform, enabling end-to-end agentic IT workflows

Global Go-to-Market: Distinct benefits with joint dedicated investments and assigned Sales & Marketing resources, supported by implementation and channel partners

Multi-year Agreement: Plans to explore deeper integrations and innovation with the intent to expand to new use cases and markets

"By integrating ServiceNow's AI control tower for business reinvention and TeamViewer's endpoint capabilities, we're closing the loop from insight at the edge to outcomes at scale. Together, we are unlocking autonomous operations, accelerating productivity, and delivering a new era of agentic business."

Bill McDermott

Chairman & CEO, ServiceNow

Q2 2026 Results 9



We believe the strategic ServiceNow partnership aligns with latest Gartner® research

Gartner Innovation Insights: Agentic Remote Support and Digital Workplace Operations Automation

"Gartner defines agentic remote support (ARS) as autonomous IT incident resolution on employee devices, addressing the critical business problems of technology friction and

high support costs by transforming traditional remote support tasks into an AI driven, self-learning system. ARS tools combine endpoint telemetry data, real-time screen observations, and analytics with AI agents to accurately diagnose IT issues on endpoints, virtual desktops, or within digital workplace infrastructures."1

"By 2029, 70% of enterprises will deploy agentic AI as a part of IT infrastructure operations, compared to less than 5% in 2025."2

TeamViewer view on latest Gartner research

  • TeamViewer believes its product and partnership strategy addresses the customer needs in the areas discussed in the Gartner research on Agentic Remote Support (ARS) and Digital Workplace Operations Automation (DWOA).

  • In our view, TeamViewer is well-positioned to support customers pursuing end-to-end autonomous IT with our Agentic Remote Support (ARS), Digital Employee Experience (DEX), and Endpoint Management capabilities alongside ServiceNow's IT Service Management and agentic AI orchestration platform.



  1. Gartner®, Innovation Insight: Agentic Remote Support, Stuart Downes, Tom Cipolla, Robin Milton-Schonemann, 15 July 2026

  2. Gartner®, Innovation Insight for Digital Workplace Operations Automation Platforms, Tom Cipolla, Stuart Downes, 23 April 2026

GARTNER is a trademark of Gartner, Inc. and its affiliates. The Gartner content described herein (the "Gartner Content") represents research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. ("Gartner"), and is not a representation of fact. Gartner Content speaks as of its original publication date (and not as of the date of this Quarterly Report), and the opinions expressed in the Gartner Content are subject to change without notice.







Recognition by industry analysts and peer reviews in our view reinforces market leadership

TeamViewer DEX

Gartner® Magic Quadrant™ Digital Employee Experience Management Tools

Recognized as a Leader for three consecutive years

IDC MarketScape Worldwide DEX Vendor Assessment Recognized as a Leader

TeamViewer Remote / Tensor

G2 Business Software Reviews Recognized as G2 Grid Leader across 4 dedicated categories and ranked no. 1 in >60 G2 reports

TrustRadius Top Rated Award

5 Top Rated Awards across various categories (incl. RMM, MDM, and UEM)

TeamViewer Frontline

Frost Radar™ AR-Centric Augmented Connected Worker Platforms Recognized as a Visionary Leader and ranked no. 1 in Growth and Innovation

PAC INNOVATION RADAR™ - Digital

Platforms for Connected Workers Recognized as the sole Best-in-Class vendor for three consecutive years

TeamViewer ONE

Gartner®, Magic Quadrant™ for Digital Employee Experience Management Tools, Dan Wilson, Stuart Downes, Robin Milton-Schonemann, 8 June 2026 GARTNER and MAGIC QUADRANT are trademarks of Gartner, Inc. and its affiliates. Gartner does not endorse any company, vendor, product or service depicted in its publications, and does not advise technology users to select only those vendors with the highest ratings or other designation. Gartner publications consist of the opinions of Gartner's business and technology insights organization and should not be construed as statements of fact. Gartner disclaims all warranties, expressed or implied, with respect to this publication, including any warranties of merchantability or fitness for a particular purpose. The Gartner content described herein (the "Gartner Content") represents research opinion or viewpoints published, as part of a syndicated subscription service, by Gartner, Inc. ("Gartner"), and is not a representation of fact. Gartner Content speaks as of its original publication date (and not as of the date of this Quarterly Report), and the opinions expressed in the Gartner Content are subject to change without notice.

TeamViewer DEX platform reaches key FedRAMP® milestone, opening access to the U.S. Federal market

CERTIFICATION PATH

FEDRAMP MODERATE

✓

"In Process" Designation

✓

Listed on the FedRAMP Marketplace

Authority to Operate (ATO)

Completion targeted in 2026

Gateway to the U.S. Federal sector

Federal agencies can often only buy FedRAMP certified cloud services, which defines a market with high security and compliance barriers to entry

A very high bar

The FedRAMP path requires long-term and significant investment with highly specific requirements, security assessments, and thorough sponsor review

One ATO, many agencies

Once completed, federal agencies can re-use the certified package, with TeamViewer already in active pipeline development

Sponsored by the U.S. Department of Veterans Affairs

Tangible customer value, reflected in a strong Voice of the Customer

Proactive

IT management

"TeamViewer AI helped us pinpoint the root causes of application instability and uncover software that was creating unnecessary risk across our environment."

Endpoint Service Manager Amica Mutual Insurance Company

(5,000+ employees)

Enterprise Integration

"AI-powered analytics integrate seamlessly into enterprise IT environments, helping automate workflows and reduce administrative overhead at scale."

Head of IT,

Enterprise Retail customer (1000+ employees)

Efficiency & Cost Reduction

"AI-generated summaries and diagnostics reduce manual work, accelerate issue resolution, and

help reduce downtime and travel costs."

IT Manager,

Software & IT services (50 employees)

Q2 2026 Results 13



Flagship customer wins evidence TeamViewer's compelling value proposition across the portfolio

DEX

Leading global aviation technology provider

Scale: 60,000 endpoints

Key differentiator: Real-time automation and visibility

Use Case: Managing global airport IT operations at scale to ensure seamless passenger services, operational continuity, and high-performing employee

digital experiences.

TeamViewer ONE

Scale: 400 endpoints, expanding MSP footprint into public sector Differentiator: Standardizing entire MSP stack on a single platform to resell

Use Case: Secure, automated IT operations across fragmented

municipal environments

Frontline

Leading US building products manufacturer

Scale: 100+ users, multiple locations in North America

Key differentiator: Hands-free workflows integrating with SAP EWM

Use Case: Increasing warehouse productivity and reducing errors

by vision picking



Upsell engine in full swing: Renewing DEX customers are moving to TeamViewer ONE with strong ARR uplift

ARR Uplift (€)*

Replaced

Endpoints

One of the largest US public sector organizations

>2.0m

Big Tech IT platform

~ 600k



A leading global financial services group

>1.5m

Big Tech IT platform

~150k



One of the world's largest non-profit hospital systems

>150k

Enterprise RS/RA

~ 100k



One of the world's largest airlines

>125k

Enterprise RS/RA

~ 50k



* At FX rate of 1.1785 EUR/USD

TeamViewer's fast progressing AEM innovation delivery creates accelerating platform pull

DEX

insights

Turning visibility to insights

General Availability

General Availability in summer 2026

Remote support session

Multi-year, multi-million strategic commitments by renewing DEX customers moving to TeamViewer ONE with significant ARR uplift is a strong proof point for the platform pull and innovation roadmap around TeamViewer's unique proposition for Autonomous Endpoint Management (AEM)

Agentic AI augments experts to resolve case

AI-driven automations August2026 Release

Session summaries

16

Q2 2026 Results 16





August release brings key innovation toward self-healing IT with Automations created from AI sessions

Launch of Automations: proven break-fix resolutions, captured across more than 2.8 million AI sessions, converted into reusable automations with tangible benefits for IT teams:

  • Reduce manual effort: the same issue no longer needs to be diagnosed and fixed by hand every time. Fix once, fixed forever.

  • Accelerate resolution: proven fixes apply automatically when a known issue recurs, collapsing mean-time-to-resolution (MTTR).

    Q2 2026 Results

    17



  • Scale with control: automations roll out across device groups under approval workflows and policy controls.

AI adoption scales fast with more than 500,000 AI sessions in June alone, fueling our strong data moat

>49k

Customers that have used TeamViewer AI1

>2.8m

Cumulative AI sessions2

Strong and scaling customer traction continues to underscore structural data advantage for unique AEM innovation

  1. Total number of customers that have used TeamViewer AI as of July 25th 2026

  2. Number of cumulative AI sessions summarized as of July 25th 2026

18

Q2 2026 Results 18



AI safety and hazard incidents are accelerating, driving a growing demand for self-healing IT and Autonomous Endpoint Management

600

500

400

300

200

100

2024-01

2023-01

2025-01

2026-01

0

AI safety and hazard incidences are accelerating

  • Rising AI safety and governance risks are increasing demand for endpoint intelligence, control and automation platforms

  • Growing demand for Autonomous Endpoint Management is already visible in high-trust sectors such as government, defense and financial services, where AI governance, security and operational resilience are mission-critical

  • TeamViewer is seeing growing pipeline momentum and customer demand in these verticals as organizations invest in platforms that can safely manage and control AI-driven operations at scale

Number of incidents



2020-01

2021-01

2022-01

2020 2021 2022

2023

2024

2025 2026

Total Incidents & Hazards 6-month moving average

Q2 2026 Results

19



Source: OECD AI incidents and hazard monitor

The Self-Healing Agent for IT

Self-Healing control layer for the Autonomous Workplace

Internal

Every Endpoint continuously observed

Employees AI Agents

Autonomous Workflows Robots & Machines Edge Devices

Applications & Devices

ACT

Autonomously remediate before impact

SELF-HEALING AGENT

OBSERVE | DECIDE | ACT

DECIDE

OBSERVE

Real-time intelligence across every endpoint

Prevent friction from slowing productivity

Friction detected early

Issues predicted & prevented

Problems resolved autonomously

Availability & experience protected

Predict & understand issues before they create friction

Real-time Intelligence

Continuously detect friction across devices, apps, employees & AI agents

Automation

Orchestrate action at the scale of the autonomous enterprise

Remediation

Resolve problems autonomously before productivity is impacted

Q2 2026 Results 20



The Unique Right to Win Autonomous IT

Seven advantages powering the shift to Self-Healing Autonomous IT

Internal

Largest Remote Access Base

Used by ops teams worldwide to diagnose & fix digital friction; 610k+ customers globally

Intelligent Remediation Agent

Detect, diagnose & remediate friction in

sub-millisecond real time

Proprietary Dual Data Streams

Remote sessions + intelligent agents continuously feed TeamViewer ONE

Native Embedded AI Platform

Continuous learning to detect, remediate and optimize

IT - securely

Vast Upsell Customer Base

Millions of break-fix customers ready for the Autonomous

IT journey

Mature Global Go-To-Market

Proven value-curve upsell engine, amplified by the ServiceNow partnership

Proven Transformational Results

Already delivering in the strategic Autonomous IT platform transition

Q2 2026 Results 21



Financial Overview

Michael Wilkens

Chief Financial Officer

The Digital Workplace Company



Q2 2026: Improving operational indicators

support confidence in H2 2026 growth acceleration

Revenue

€182.7m

-1.4% cc yoy1

ARR

€736.8m

-0.1% cc yoy

Adjusted EBITDA

€78.9m

-6% yoy1

Adjusted EBITDA Margin

43.2%

-1 pp yoy1

Basic EPS / Adjusted EPS

€0.19 / €0.27

+32% yoy / -5% yoy1

Net Leverage Ratio

2.5x

1 YoY growth rate is compared to Q2 2025 comparable pro forma actuals

Key P&L and other financial KPIs development

Q2 2026: previously disclosed effects are leveling off

  • Revenue growth - as a lagging indicator - continued to reflect the effects of previously disclosed headwinds

  • Underlying operational indicators improved throughout the quarter

  • Ongoing organic investments in Sales and Research & Development; Marketing cost include Q2 commercial activation

  • Levered Free Cash Flow reflects lower topline growth and less upfront paid multi-year deals

  • Net leverage ratio: on track for around 2.3x year-end target

in € million

Q2 2026

Q2 2025

∆ %

Revenue1

182.7

190.7 -4%

Cost of Goods Sold (COGS)1,2

(15.1)

(15.4)

-2%

Gross profit1,2

167.6

175.2 -4%

% Margin1,2

92%

92% 0 pp

Total Opex1,2

(88.7)

(91.2)

-3%

Adjusted EBITDA1

78.9

84.0

-6%

% Margin1

43%

44% -1 pp

D&A

-13.3

-14.0

-5%

Operating Profit (EBIT)

57.3

63.9

-10%

Net income

30.1

22.6

+33%

Basic number of shares issued and outstanding in m

157.8

157.0 1%

EPS (basic) in €

0.19

0.14

+32%

Adjusted EPS (basic)1 in €

0.27

0.28

-5%

Levered Free Cash Flow (FCFE)3

40.8

59.6

-31%

Cash conversion (FCFE / Adjusted EBITDA4)

52%

71%

Net debt

832.8

991.7

-16%

Net leverage ratio5

2.5x

2.9x

1 2025 comparable actuals are pro forma. YoY growth rate is compared to 2025 pro forma comparable actuals. | 2 Based on recurring costs. | 3 Adjusted for the effects from the 1E acquisition. | 4 FCFE / Pro forma adjusted EBITDA for 2025. | 5 Net debt / Pro forma adjusted EBITDA LTM.

Operating cash flow reflects lower topline growth and less upfront paid multi year deals yoy

  • Q2 2026 Cash flow was impacted by lower topline growth and by less upfront paid multi year deals compared to last year

  • In addition, normal anticipated cash flow timing effects from taxes, interest and lease payments during the second quarter

  • Free cash flow is seasonally stronger in H2

in € million (unless otherwise stated)

Q2 2026

Q2 2025

∆ %

6M 2026

6M 2025

∆ %

Pre-Tax net cash from operating activities (IFRS)

66.3

84.0 -21%

121.5

130.6 -7%

Capital expenditure (excl. M&A)

(2.3)

(2.8)

-18%

(3.3)

(3.8)

-13%

Lease payments

(3.9)

(5.3)

-26%

(10.9)

(6.8)

+60%

Pre-tax Unlevered Free Cash Flow (pre-tax UFCF)

60.2

75.9 -21%

107.4

120.1 -11%

Interest paid for borrowings and lease liabilities

(11.4)

(10.7)

+7%

(23.4)

(19.6)

+19%

Pre-tax Levered Free Cash Flow (pre-tax FCFE)

48.7

65.3 -25%

84.0

100.5 -16%

Income tax paid

(8.7)

(11.8)

-26%

(22.2)

(20.2)

+10%

Levered Free Cash Flow (FCFE)

40.0

53.5 -25%

61.8

80.2 -23%

Cash Conversion (FCFE / Adjusted EBITDA1)

51%

64%

38%

48%

Adjustment for 1E acquisition

0.8

6.1

-87%

2.7

12.2

-78%

Adjustment for a one-off payment in connection with special legal disputes

-

- n/a

-

11.6 n/a

Levered Free Cash Flow (FCFE) adj. for 1E and legal disputes

40.8

59.6 -31%

64.6

104.0 -38%

Cash Conversion (FCFE / Adjusted EBITDA1) after adjustments

52%

71%

40%

63%

1 FCFE / Pro forma adj. EBITDA for 2025.

Debt maturity profile as of 30 June 2026

(€m)

450

51.5

145

150

25

48.5

25

15

13

25

12.5

15

75

12.5

1299.5

Financing Flexibility increased in Q2 2026

Successfully extended debt maturities and new financing capacity: extended €75m RCF to 2031, secured a new €40m bilateral facility and initiated a new Schuldschein placement

2026 2027 2028 2029 2030 2031

Term Loan (1E)

Bridge to DCM (1E)

Promissory Note 2021

Promissory Note 2024

Private Placement 2025

Private Placement 2026

2024 Syndicated RCF

2022 Syndicated RCF

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% cc1,2

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 31

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 for FY 2025.

Q&A

Appendix

The Digital Workplace Company



FX impact

The Digital Workplace Company



‌Expected currency impact: USD represents TeamViewer's largest topline foreign currency exposure

Currency exposure vs guided YoY growth in cc:

  • TeamViewer guides YoY revenue growth in constant currency3

  • 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

Expected FX impact Q3 & FY 2026 in revenue at spot rate on 30 Jun 2026

(compared to 2025 pro forma revenue)

Q2 2026

(actual)

Q3 2026

(expected)

FY2026

(expected)

Total FX Impact1,2

-2.8pp

-2.1pp

-2.4pp

YoY FX Impact

-1.4pp

-1.2pp

-1.4pp

Additional Deferred Revenue FX Impact2

-1.4pp

-0.8pp

-1.0pp

1 FY 2026 expected FX impact reflects the actual FX impact recorded in H1 2026, the expected FX impact for H2 2026 based on June 30, 2026 spot rates, and deferred FX effects resulting from TeamViewer's centralized invoicing model

2 The expected additional deferred revenue FX impact in Q4 is -0.3pp.

3 main currencies

Q2 2026

(actual average)

Q3 2026

(expected)

EUR/USD

1.16

1.14

EUR/CAD

1.61

1.62

EUR/AUD

1.64

1.65

Q2 2026 Results

31



3 Constant currency growth including an average exchange rate of 1.05 USD per EUR for Q1 2025, 1.13 USD per EUR for Q2 2025 and 1.13 USD per EUR for FY 2025.

Key financials & KPIs

The Digital Workplace Company



Overview Topline KPIs

Q2 2026

Q1 2026

Q4 2025

Pro forma

Q3 2025

Pro forma

Q2 2025

Pro forma

SMB

Revenue in €m

124.1

126.2

130.9

134.1

132.0

Revenue YoY % cc

-3%

-1%

1%

3%

3%

ARR1 in €m

501.4

506.7

518.7

526.3

532.0

ARR1 YoY % cc

-4%

-3%

-1%

0%

+1%

ASP (ARR)1 in €

826

822

822

822

817

Number of customers1

606,616

616,598

631,373

640,342

651,221

SMB Customer churn rate

17%

17%

16%

16%

16%

Enterprise

Revenue in €m

58.6

57.0

63.8

57.9

58.7

Revenue YoY % cc

+3%

0%

+3%

+8%

+15%

ARR1 in €m

235

231

241

230

227

ARR1 YoY % cc

+8%

+8%

+11%

+12%

+13%

ASP (ARR)1 in € thousands

44

44

46

44

44

NRR (cc)1

94%

93%

96%

98%

98%

NRR (cc)1 adj. for net upsell from SMB

98%

96%

99%

102%

103%

Number of customers1

5,311

5,259

5,262

5,216

5,143

Total

ARR1 in €m

736.8

737.3

759.7

756.8

759.1

Revenue in €m

182.7

183.2

194.6

192.0

190.7

Revenue by region in €m

EMEA

100.4

100.6

103.1

101.5

99.8

AMERICAS

64.7

64.8

73.4

72.1

72.7

APAC

17.6

17.7

18.2

18.3

18.2

1 2025 comparable actuals and growth rates are non-pro forma.

Enterprise platform strategy gaining traction:

highest-value ARR bucket up +11% yoy driven by DEX turnaround and TeamViewer ONE adoption

+8% cc

SMB (ARR view) Enterprise (ARR view)

(€m; % yoy cc; pro forma)

€ 1,500 - <10,000 ARR

(€m; % yoy cc; pro forma)

€ >200,000 ARR

532.0

-4% cc

501.4

€ 500 - <1,500 ARR 235.5

€ >100,000 ARR

267.3

163.7

-6% cc

257.1

147.0

101.1

-8% cc

97.2

€ <500 ARR

227.1

€ >50,000 ARR

€ 10,000 - 50,000 ARR

0% cc

Net upsell from SMB to Enterprise:

€10.7m

29.3

33.5

+3% cc

85.9

+10% cc

86.8

+7% cc

83.5

31.9

+11% cc

29.9

81.7

Q2 2025 Q2 2026 Q2 2025 Q2 2026

in € million (unless otherwise stated)

Q2 2026

Q2 2025

Pro forma

∆ %

6M 2026

6M 2025

Pro forma

∆ %

Revenue

182.7

190.7 -4%

365.9

380.9 -4 %

Cost of Goods Sold (COGS)

(15.1)

(15.4)

-2%

(30.0)

(31.6)

-5 %

Gross profit

167.6

175.2 -4%

335.9

349.3 -4 %

% Margin

92 %

92 % 0 pp

92 %

92 % 0 pp

Sales

(32.0)

(30.4)

+5%

(65.0)

(61.5)

6 %

% of Revenue

-18%

-16%

-18 %

-16 %

Marketing

(22.3)

(30.7)

-28%

(40.6)

(56.3)

-28 %

% of Revenue

-12%

-16%

-11 %

-15 %

R&D

(24.0)

(21.4)

+12%

(47.6)

(43.5)

9 %

% of Revenue

-13%

-11%

-13 %

-11 %

G&A

(9.7)

(9.3)

+4%

(19.1)

(19.4)

-2 %

% of Revenue

-5%

-5%

-5 %

-5 %

Other1

(0.7)

0.6

-226%

(1.6)

(2.8)

-43 %

% of Revenue

0%

0%

0 %

-1 %

Total Opex

(88.7)

(91.2)

-3%

(174.0)

(183.7)

-5 %

% of Revenue

-49%

-48%

-48 %

-48 %

Total Costs2

(103.8)

(106.7)

-3%

(204.0)

(215.3)

-5 %

Adjusted EBITDA

78.9

84.0

-6%

161.9

165.6 -2 %

% Margin

43%

44% -1 pp

44 %

43 % 1 pp

Adjusted P&L management view based on recurring cost

2025.

1 Incl. other income/expenses and bad debt expenses of €-1.7m in Q2 2026 and €-1.9m in Q2 2025 / €-3.8m in 6M 2026 and €-5.4m in 6M

Opex.

2 Total Costs are the sum of Cost of Goods Sold (COGS) and Total

Q2 2026: Reconciliation management metrics to IFRS

in € million

Management view Revenue adj. P&L

Other non-IFRS adjustments

Accounting view

IFRS P&L

D&A

Revenue 182.7 182.7

Cost of Goods Sold (COGS) (15.1) (9.4) (0.3) (24.9)

Gross profit contribution 167.6 157.9

% of Revenue 92% 86%

Sales (32.0) (1.4) (2.2) (35.6)

Marketing (22.3) (0.4) (0.5) (23.2)

R&D (24.0) (1.5) (1.1) (26.6)

G&A (9.7) (0.5) (2.7) (12.9)

Other1 (0.7) 0.0 (1.6) (2.3)

Adj. EBITDA 78.9

% of Revenue 43%

D&A (ordinary only)2 (5.5)

Adj. EBIT / Operating profit (EBIT) 73.4 (7.7)3 (8.4) 57.3

% of Revenue 40% 31%

D&A (total)2+3 13.3

EBITDA 70.6

% of Revenue 39%

1 Incl. other income/expenses and bad debt expenses of €1.7m

2 D&A excl. amortization intangible assets from PPA

3 Amortization intangible assets from PPA

6M 2026: Reconciliation management metrics to IFRS

in € million

Management view Revenue adj. P&L

Other non-IFRS adjustments

Accounting view

IFRS P&L

D&A

Revenue 365.9 365.9

Cost of Goods Sold (COGS) (30.0) (18.9) (0.4) (49.3)

Gross profit contribution 335.9 316.6

% of Revenue 92% 87%

Sales (65.0) (2.7) (2.7) (70.4)

Marketing (40.6) (1.1) (0.5) (42.1)

R&D (47.6) (2.9) (1.5) (52.1)

G&A (19.1) (1.0) (5.7) (25.7)

Other1 (1.6) 0.0 (5.5) (7.1)

Adj. EBITDA 161.9

% of Revenue 44%

D&A (ordinary only)2 (11.0)

Adj. EBIT / Operating profit (EBIT) 150.9 (15.5)3 (16.3) 119.1

% of Revenue 41% 33%

D&A (total)2+3 26.5

EBITDA 145.7

% of Revenue 40%

1 Incl. other income/expenses and bad debt expenses of €3.8m

2 D&A excl. amortization intangible assets from PPA

3 Amortization intangible assets from PPA

Non-IFRS adjustments in EBITDA

in € million (unless otherwise stated)

Basis of preparation / definition

Q2 2026

Q2 2025

6M 2026

6M 2025

EBITDA

APM

70.6

77.9

145.7

144.4

Total IFRS 2 charges (expenses for share-based compensation)

APM

+1.7

+4.8

+2.6

+11.3

TeamViewer LTIP

APM

+0.3

-0.5

+0.2

+1.2

RSU/PSU1

APM

+1.4

+4.2

+2.4

+7.9

M&A related share-based compensation

APM

0.0

+0.1

0.0

+0.2

Share-based compensation by TLO2

APM

0.0

+1.1

0.0

+2.0

1E acquisition related integration & transaction costs

APM

+0.8

+1.8

+2.7

+7.3

Other material items

APM

+4.0

+0.7

+5.0

+3.8

Financing

APM

0.0

0.0

0.0

0.0

Other

APM

+4.0

+0.7

+5.0

+3.8

Valuation effects

APM

2.0

(6.2)

5.9

(11.7)

Adjusted EBITDA

APM

78.9

79.0

161.9

155.1

Add back:

1E deferred revenue haircut

Pro forma adjustment

-

+5.0

-

+10.5

1E January 2025 Adjusted EBITDA

Pro forma adjustment

-

-

-

0.0

Adjusted EBITDA3

78.9

84.0

161.9

165.6

Adjusted EBITDA margin (%)3

APM

43%

44%

44%

43%

In Q2 2026, Non-IFRS EBITDA

adjusted by

  1. non-recurring items

    • IFRS2, mainly RSU

    • 1E acquisition related items

    • Other material items including one-off personnel related costs

    • 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.

EBITDA to net income

in € million (unless otherwise stated)

Q2 2026

Q2 2025

∆ %

6M 2026

6M 2025

∆ %

EBITDA

70.6

77.9 -9%

145.7

144.4 +1%

D&A

(13.3)

(14.0)

-5%

(26.5)

(27.3)

-3%

Operating Profit (EBIT)

57.3

63.9 -10%

119.1

117.1 +2%

Financial / FX result

(10.5)

(26.4)

-60%

(21.4)

(33.4)

-36%

Share of profit/loss of associates

(1.6)

(1.0)

+62%

(2.4)

(3.2)

-23%

Profit before tax (EBT)

45.2

36.5 +24%

95.3

80.6 +18%

Income taxes

(15.1)

(13.9)

+8%

(31.0)

(28.3)

+10%

Net income

30.1

22.6 +33%

64.3

52.2 +23%

Basic number of shares issued and outstanding1 in m

157.8

157.0 +1%

157.8

157.0 +1%

EPS (basic) in €

0.19

0.14 +32%

0.41

0.33 +22%

Adjusted EPS (basic)2 in €

0.27

0.28 -5%

0.56

0.57 -3%

1 Period average, without treasury shares.

2 2025 comparables contain pro forma adjustments.

Adjusted net income & EPS

in € million (unless otherwise stated)

Basis of preparation / definition

Q2 2026

Q2 2025

6M 2026

6M 2025

Net income

IFRS

30.1

22.6

64.3

52.2

Expenses for share-based compensation

APM

+1.7

+4.8

+2.6

+11.3

PPA depreciation and amortization

APM

+7.7

+7.4

+15.5

+13.5

Other material items

APM

+6.7

-3.7

+13.7

-0.6

Extraordinary effects in finance result

APM

+0.6

+16.0

+0.2

+17.5

Income tax items to be adjusted

APM

-4.3

-6.5

-8.5

-10.7

Adjusted net income

APM

42.5

40.6

87.7

83.2

Add back / deduct:

1E deferred revenue haircut1

Pro forma adjustment

-

+3.8

-

+7.9

1E January 2025 adjusted net income

Pro forma adjustment

-

0.0

-

-1.1

Adjusted net income2

42.5

44.3

87.7

90.0

Basic number of shares issued and outstanding

157,794,594

156,966,162

157,794,594

156,966,162

Adjusted earnings per share - basic (in €)2

APM

0.27

0.28

0.56

0.57

1 Period average, without treasury shares.

2 Pro forma is only calculated for Q4/FY 2025.

1 1E revenue haircut Q2 2025 post tax at assumed 25% corporate tax rate.

2 2025 comparables contain pro forma adjustments.

e

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