TeamViewer AG Cuts Full Year Outlook On Billings' Shortfall - Quick Facts

(RTTNews) - TeamViewer AG (TMVWF.PK, TMVWY.PK) said its third-quarter year-on-year growth in billings were below its own projections. Due to the billings' shortfall and the cost ramp up, adjusted EBITDA margin was around 34% for the third quarter and approximately 48% for the nine months of 2021. Looking forward, the company said, following the revision of billings growth, it also adjusted adjusted EBITDA margin guidance for the current business year.

Third quarter billings were around 126 million euros, up around 18% reported and 18% at constant currencies. IFRS revenues were around 128 million euros.

TeamViewer adjusted its outlook for the full year and now expects billings of between 535 million euros to 555 million euros (previously: lower end of range of 585 million euros to 605 million euros). The guidance for revenues was lowered to a range of 495 million euros to 505 million euros (prior guidance: lower end of range of 525 million euros to 540 million euros). Adjusted EBITDA margin is now expected to be at 44% to 46% (prior outlook: 49% to 51%).