TeamViewer — Q1 21 Earnings Breakdown

Company Overview

Q1–21 Financial Performance


Key Financial Highlights

  • Increase in number of subscribers: In Q1–21, the company won additional 173 enterprise customers with an annual contract value of +€10k.
  • Net retention remained at 100%
  • Gross Churn: Subscriber churn of 15% (“retained subscribers amount to 437k compared to 514k at Q1–20”)
  • Upsell/ Cross-sell: The company saw ACV expansion in the enterprise segment and a general shift of ACVs of €250k or more
  • Down-sell: There has been “some rightsizing and proper procurement procedures of corona-driven subscribers” as anticipated by the company

Key Takeaways

Operational Performance — Key Highlights

Focus on cross-sell and higher ACV accounts

Sponsorship Deals

Illustrative Valuation Considerations


  • Company Materials
  • Koyfin, Google Finance




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