TeamViewer AG continued its profitable growth during the first nine months of fiscal year 2019. Billings increased by 45% year-over-year to EUR 224 million (9M 2018: EUR 155 million). In this period, Cash EBITDA grew by 54% to EUR 120 million (9M 2018: EUR 78 million) resulting in an improved Cash EBITDA margin of 53% (9M 2018: 50%). Growth was mainly driven by a strong increase in subscriptions resulting from key strategic initiatives, including the successful Enterprise product roll-out.
Oliver Steil, CEO of TeamViewer, said: “Our first results as a listed company underscore TeamViewer’s strong financial profile combining high growth with high profitability. The traction of our strategic growth initiatives is reflected in our billings growth, and our subscription based Software as a Service business model results in very good earnings growth.”
Stefan Gaiser, CFO of TeamViewer, said: “The strong billings and Cash EBITDA growth in the third quarter underpins our confidence in our 2019 targets. We are therefore well on track to deliver on our full-year guidance.”
- Q3: Billings up 63% and Cash EBITDA up 95%
- 9M: Billings up 45% to EUR 224 million
- 9M: Cash EBITDA up 54% to EUR 120 million
- Continued subscriber growth to more than 430,000
- Further deleveraging and lower net debt due to strong Cash EBITDA growth
- Full-year guidance confirmed
