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TeamViewer Q2 Adj. EBITDA Up 60% - Quick Facts

TeamViewer AG (TMVWF.PK,TMVWY.PK) reported that its second quarter adjusted EBITDA rose 60% to 57.3 million euros from last year's 35.8 million euros, driven by sustained demand for its connectivity solutions, despite the challenging global economic conditions.

Billings for the quarter grew 45% to 105.9 million euros from 73.1 million euros in the previous year.

Revenue was 114.7 million euros up from 94.5 million euros in the prior year.

In an update on 2016 Cyber Attack, TeamViewer said that recently, its lawyers were contacted by one of law enforcement agencies providing a brief factual update on the status of their investigations.

The agency mentioned evidence for data losses derived from the events around 2016,
which might lead to notice requirements vis-?-vis data protection authorities and customers - pending detailed analysis. However, they did mention as well that there is no evidence of data misuse following a series of remediation measures and infrastructure hardening undertaken by TeamViewer ending in mid 2018.

TeamViewer said last month that it agreed to buy Ubimax, a provider of Wearable Computing and Augmented Reality solutions for the frontline workforce, for a total consideration of 136.5 million euros on a cash and debt free basis, partially paid in cash and partially in shares.

Excluding any contribution from the Ubimax transaction and despite the weakening of the U.S. Dollar, TeamViewer confirmed today its full year guidance. The company still projects billings of around 450 million euros; an Adjusted EBITDA margin of around 56%.

The company still expects annual revenue of at least 450 million euros due to significant first quarter 2020 billings and therefore higher deferred revenue releases before year end.

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