BERLIN (dpa-AFX) - TeamViewer AG (TMVWF.PK, TMVWY.PK), a remote connectivity and workplace digitalization solution provider, reported Tuesday that its first-quarter adjusted EBITDA grew 22 percent to 90.0 million euros from last year's 73.9 million euros.
At 61.4 percent, the adjusted EBITDA margin edged down 0.3 percentage points from 61.7 percent a year ago.
Revenue increased 15 percent to 118.3 million euros from last year's 102.7 million euros, reflecting the discontinuation of the former perpetual license model.
TeamViewer recorded billings of 146.6 million euros in the first quarter 2021, up 22 percent year-on-year and up 26 percent adjusted for currency effects.
TeamViewer's subscriber base grew 17 percent from last year to 603,000, including 2,058 enterprise customers with a yearly contract value above 10,000 euros.
Looking ahead, citing a strong first quarter, TeamViewer confirmed its 2021 outlook and projects reported billings in a range of 585 million euros and 605 million euros and revenue to be in a range between 525 million euros and 540 million euros.
The company still expects an adjusted EBITDA margin of 49 percent to 51 percent for fiscal year 2021.
Further, the company projects sustainable long-term growth targeting more than 1 billion euros billings in 2023 and continued high billings growth of at least 25 percent after 2023.
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