Half Year 2024 TeamViewer SE Earnings Call Transcript
Key Points
- TeamViewer SE (TMVWY) reported a 9% year-over-year revenue increase in constant currency for Q2 2024.
- The company's adjusted EBITDA margin improved to a strong 41%, reflecting continued profitability.
- Enterprise revenue saw a significant 21% year-over-year growth in constant currency, with a net retention rate increasing to 116%.
- The Americas region experienced double-digit revenue growth, highlighting successful restructuring efforts.
- TeamViewer SE (TMVWY) extended its EUR440 million revolving credit facility by two years, showcasing confidence in its business model and strategy.
- The company faced a sophisticated cybersecurity attack at the end of Q2, although it was contained to the internal corporate IT environment.
- Despite overall growth, the APAC region faced considerable FX headwinds impacting revenue development.
- Subscriber churn in the SMB segment increased slightly to 50.7%, driven by mix effects and increased free-to-paid conversion activities.
- Net income decreased by 22% year-over-year due to higher income taxes, despite a 14% increase in profit before tax.
- The macroeconomic environment remains challenging, with delays in customer decision-making affecting the pipeline.
Ladies and gentlemen, welcome to the TeamViewer SC Q2 H1 2020 Results Call and Webcast. The presentation will be followed by a Q&A session. (Operator Instructions) At this time, it's my pleasure to hand over to Bisera, Vice President, Investor Relations. Please go ahead.
Thank you, operator, and good morning, everybody, and welcome to TeamViewer's Q2 2024 Earnings Call. I am Bisera Grubesic, VP, Investor Relations of TeamViewer, and I am joined today by our CEO, Oliver, and CFO, Michael. As per usual, Oliver will run you through the quarterly business highlights. And in the second half of our call Michael will present the Q2 financials. And the presentation will be concluded by a Q&A session.
Moving to the next slide. Please note that you can find the important notice and the APM disclosure on slide 2 and 3. And with that, I hand it over to Oliver to kick off our call.
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