TeamViewer Q3 Adj. EBITDA Declines; To Reconfigure Growth Initiatives, Cost Structure

TeamViewer (TMVWF.PK,TMVWY.PK) confirmed its preliminary third quarter results. The company stated that it is not satisfied with the results, and will address this by reconfiguring some of the growth initiatives and cost structure. The company will provide more detail at its Capital Markets Day.

Third quarter adjusted EBITDA decreased to 42.3 million euros from 58.2 million euros, previous year. Profit for the period declined to 3.7 million euros or 0.02 euros per share from 31.6 million euros or 0.16 euros per share. Revenue increased to 127.7 million euros from 117.2 million euros. Billings were up 18% to 125.8 million euros.

TeamViewer confirmed its outlook. Full year 2021 billings are anticipated in a range between 535 million euros to 555 million euros, and revenue between 495 million euros to 505 million euros.

The company increased its subscriber base by 11% year-over-year to 628,000 at quarter end. Total subscriber churn improved to 14.6% from 15.7%, prior year.

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