Slides
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Q2/6M 2025 Results Presentation 29 July 2025
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This presentation as well as any information communicated in connection therewith (the “Presentation”) contains information regarding TeamViewer SE (the “Company”) and its subsidiaries (the Company, together with its subsidiaries, “TeamViewer”). It is provided for information purposes only and should not be relied on for any purpose and may not be redistributed, reproduced, published, or passed on to any other person or used in whole or in part for any other purpose. Certain statements in this presentation may constitute forward-looking statements. These statements are based on assumptions that are believed to be reasonable at the time they are made, and are subject to significant risks and uncertainties, including, but not limited to, those risks and uncertainties described in TeamViewer's disclosures. You should not rely on these forward- looking statements as predictions of future events, and TeamViewer’s actual results may differ materially and adversely from any forward-looking statements discussed in these statements due to several factors, including without limitation, risks from macroeconomic developments, external fraud, lack of innovation capabilities, inadequate data security and changes in competition levels. TeamViewer undertakes no obligation, and does not expect to publicly update, or publicly revise, any forward-looking statement, whether as a result of new information, future events or otherwise. All subsequent written and oral forward-looking statements attributable to it or to persons acting on its behalf are expressly qualified in their entirety by the cautionary statements referred to above and contained elsewhere in this Presentation. All stated figures are unaudited. Percentage change data and totals presented in tables throughout this presentation are generally calculated on unrounded numbers. Therefore, numbers in tables may not add up precisely to the totals indicated and percentage change data may not precisely reflect the change data of the rounded figures for the same reason. Important Notice / APMs This document contains alternative performance measures (APM) that are not defined under IFRS. The APMs (non-IFRS) can be reconciled to the key performance indicators included in the IFRS consolidated financial statements and should not be viewed in isolation, but only as supplementary information for assessing the operating performance. TeamViewer believes that these APMs provide an additional, deeper understanding of the Company's performance. TeamViewer has defined each of the following APMs as follows: • Adjusted EBITDA is defined as operating income (EBIT) according to IFRS, plus depreciation and amortization of tangible and intangible fixed assets (EBITDA), adjusted for certain business transactions (income and expense) defined by the Management Board in agreement with the Supervisory Board. Business transactions to be adjusted relate to share- based compensation schemes and other material special items of the business that are presented separately to show the underlying operating performance of the business. • Adjusted EBITDA margin means Adjusted EBITDA as a percentage of revenue. • Annual Recurring Revenue (ARR) is annualized recurring revenue for all active subscriptions at the end of the reporting period. It is calculated by multiplying the daily subscription revenue at the end of the reporting period by 365 days (or 366 days for leap years). Daily subscription revenue is calculated as the total active contract value divided by the contract duration in days. The end of the reporting period is defined as the last calendar day of the respective period. • Retained ARR is defined as the ARR at the end of the reporting period from customers that were already a customer at the end of the prior-year reporting period. TeamViewer | Q2 2025 Results2
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• Net Retention Rate (NRR) (cc) is defined as Retained ARR (cc) at the end of the reporting period divided by the Total ARR at the end of the prior- year reporting period. • Number of customers means the total number of paying customers with an active subscription at the reporting date. • SMB customers means customers with ARR across all products and services of less than EUR 10,000 at the end of the reporting period. If the threshold is exceeded, the customer will be reallocated. • Enterprise customers means customers with ARR across all products and services of at least EUR 10,000 at the end of the reporting period. Customers who do not reach this threshold will be reallocated. • Customer churn rate means the percentage of customers not retained during the last twelve-month period. It is calculated as 100% minus the number of customers that were retained (no new customers) during the last twelve months divided by the total number of customers twelve months ago. • Average Selling Price (ASP) is calculated by dividing the total ARR by the total number of customers at the reporting date. • Net financial liabilities are defined as financial liabilities (without other financial liabilities) less cash and cash equivalents. • Net leverage ratio means the ratio of net financial liabilities to Adjusted EBITDA of the last twelve-month period. • Levered Free Cash Flow (FCFE) means net cash from operating activities less capital expenditure for property, plant and equipment and intangible assets (excl. M&A), payments for the capital element of lease liabilities and interest paid for borrowings and lease liabilities. • Cash Conversion means the percentage share of Levered Free Cash Flows (FCFE) in relation to the Adjusted EBITDA. Important Notice / APMs (continued) • Adjusted Net Income is the net income adjusted for certain income and expenses. These adjustments are: share-based compensation, amortization related to business combinations, other non-recurring income and expenses and related tax effects. • Adjusted basic earnings per share is calculated in line with basic earnings per share, whereby Adjusted Net Income is used as the basis for the calculation instead of the net income. • Constant currency (cc) comparisons eliminate the impact of exchange rate fluctuations between different periods. • “Pro forma” refers to TeamViewer group numbers including 1E numbers before closing (unaudited management view at the time of acquisition) as well as a reversal of negative M&A effects on revenue (“haircut”) after closing. Pro forma numbers are prepared for comparative purposes and should be read in conjunction with financial statements. They are not necessarily indicative of the results that would have been attained if the transaction had taken place on a different date. TeamViewer | Q2 2025 Results3
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Business Overview Oliver Steil (CEO)
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Double-digit Enterprise growth and strong Adj. EBITDA margin; FY 2025 guidance reiterated Solid pro forma Revenue growth of +6 % cc yoy Double-digit growth in pro forma Enterprise Revenue, up 15 % cc yoy Adj. EBITDA up 17 % yoy; strong profitability with Adj. EBITDA Margin of 44 % (+4 pp yoy) Pro forma ARR up 4 % cc yoy on the back of strong TeamViewer Enterprise business; partly offset by US macro headwinds Pro forma FY 2025 guidance reiterated, growth acceleration expected in H2 Significant portfolio and platform enhancements with DEX integration; promising early momentum TeamViewer | Q2 2025 Results5 Highlights
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SMB Revenue: €132.0m (+2 % | 3 % cc) ARR: €532.0m (+1 % | 1 % cc) Revenue growth across all regions EMEA with strongest contribution ENT Revenue: €58.7m (+13 % | 15 % cc) ARR: €227.1m (+13 % | 13 % cc) 69 %31 % TeamViewer | Q2 2025 Results6 Regional Development Customer Categories (pro forma Revenue, % yoy) (pro forma, % yoy) Q2 Revenue €190.7m (+5 % | 6 % cc) 38 % 10 % 52 % APAC €18.2m (+3 % | 4 % cc) EMEA €99.8m (+8 % | 8 % cc) AMERICAS €72.7m (+3 % | 5 % cc)
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74.0 83.5 27.5 31.9 24.1 29.9 75.8 81.7 Q2 2024 Q2 2025 104.9 101.1 170.0 163.7 254.0 267.3 Q2 2024 Q2 2025 Continued growth in Enterprise across all ARR value ranges 532.0528.8 -2 % cc -4 % cc +6 % cc € 1,500 - <10,000 ARR € <500 ARR € 500 - <1,500 ARR 227.1 201.5 € 10,000 - 50,000 ARR € >100,000 ARR € >50,000 ARR € >200,000 ARR +16 % cc +24 % cc +14 % cc +8 % cc 7 SMB (ARR view) Enterprise (ARR view) (€m; % yoy cc; pro forma)(€m; % yoy cc; pro forma) TeamViewer | Q2 2025 Results Net upsell from SMB to Enterprise: €16.8m
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Accelerate business growth and maximize customer benefits as quickly as possible Very good progress on 1E integration; promising momentum for new DEX products Products & Technology Expected Duration Post-Closing Go-to-Market Enable Enterprise cross- selling and pipeline generation Mobilize SMB cross-selling Integrated Go-to-Market readiness for 2026 Cross-product integration to enhance visibility and access between solutions Processes & Infrastructure Remove barriers to cross-product adoption Harmonized technology infrastructure, network, processes and business applications 8 TeamViewer | Q2 2025 Results 0-3 months 4-6 months 7-9 months 10-12 months Progress (indicative) Today Integrated product strategy and roadmap; continue to invest in joint AI capabilities across solution suite and bundle it in a future proof platform Implement core processes / infrastructure integration
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Leading DEX capabilities 9 TeamViewer DEX Essentials Proactive IT with real- time visibility, automated fixes, and zero disruption. TeamViewer ONE, the Digital Workplace Platform ONE platform to manage, support, and optimize digital work. TeamViewer has been named a Leader in the 2025 Gartner® Magic Quadrant™ report for Digital Employee Experience (DEX) Management Tools. ABILITY TO EXECUTE COMPLETENESS OF VISION As of April 2025 © Gartner, Inc TeamViewer | Q2 2025 Results
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10 TeamViewer | Q2 2025 Results TeamViewer CoPilot: Support for IT troubleshooting diagnosis Session Insights: Closing existing feature gaps, allowing connections to unmanaged devices, more granular controls
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Financial Overview Michael Wilkens (CFO)
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Q2 2025: Significant YoY margin expansion and strong Adj. EPS growth Topline KPIs Q2 2025 Profitability / Cash Q2 2025 (% and pp yoy; pro forma) (% and pp yoy; pro forma) 1 Compared to TeamViewer standalone Q2 2024. Revenue ARR ENT ARR ENT NRR (cc) €190.7m +5 %/+6 % cc €759.1m +4 %/+4 % cc 98 % adj. for net upsell from SMB: 103 % €227.1m +13 %/+13 % cc 12 Net Leverage Ratio Adjusted EPS Adjusted EBITDA Margin Adjusted EBITDA 2.9x €0.28 +19 % 1 44 % +4 pp €84.0m +17 % TeamViewer | Q2 2025 Results
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180.8 186.8 195.3 190.3 190.7 6 % 7 % 8 % 7 % 5 % Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025 730.3 737.6 757.4 759.5 759.1 8 % 7 % 7 % 7 % 4 % ARR Growth (yoy cc) Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025 71.6 86.9 88.8 81.7 84.0 40 % 47 % 46 % 43 % 44 % Q2 2024Q3 2024Q4 2024Q1 2025Q2 2025 Solid performance with strong profitability Quarterly Revenue and Growth Rates ARR and Growth Rates Adjusted EBITDA and Margin (€m; %; pro forma, Q2–Q4 2024 yoy growth rates reflect TeamViewer standalone) (€m; %; pro forma) 13 TeamViewer | Q2 2025 Results (€m; %; pro forma, Q2–Q4 2024 yoy growth rates reflect TeamViewer standalone) (9 % cc) (8 % cc) (7 % cc)(9 % cc) (6 % cc)
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51.7 55.2 63.8 59.9 58.7 19 % 22 % 37 % 22 % 13 % Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 99 % 99 % 100 % 103 % 98 % 108 % 108 % 109 % 108 % 103 % ENT NRR (cc) ENT NRR (cc) adj. for net upsell from SMB Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 4,573 4,698 4,957 5,0445,143 Q2 2024 Q4 2024 Q2 2025 44 44 45 44 44 Q2 2024 Q4 2024 Q2 2025 201.5 208.0 223.9 224.4 227.1 21 % 20 % 21 % 20 % 13 % ARR Growth (cc yoy) Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Double-digit Enterprise growth Quarterly ENT Revenue and Growth Rates ENT ASP (ARR) 1 ENT ARR and Growth Rates ENT NRR (€m; %; pro forma; Q2–Q4 2024 yoy growth rates reflect TeamViewer standalone) (€k; pro forma) (€m; %; pro forma; Q2–Q4 2024 yoy growth rates reflect TeamViewer standalone) (eop; pro forma) (%; cc; pro forma; Q2–Q4 2024 NRR reflects TeamViewer standalone) ENT Customers 2 14 TeamViewer | Q2 2025 Results 1 Since Q1 2025, ASP is calculated based on ARR. Prior year numbers have been restated based on ARR. | 2 Since Q1 2025, the number of customers is calculated based on ARR. Prior year numbers have been restated based on ARR. (21 % cc)(21 % cc) (38 % cc) (23 % cc) (15 % cc)
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129.1 131.6 131.5 130.4 132.0 3 % 3 % 1 % 2 % 2 % Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Quarterly SMB Revenue and Growth Rates 664 665 664 658 651 Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 528.8 529.6 533.4 535.2 532.0 5 % 4 % 3 % 2 % 1 % ARR Growth (yoy cc) Q2 2024 Q3 2024 Q4 2024 Q1 2025 Q2 2025 Solid SMB performance SMB ARR and Growth Rates SMB Customers 2 SMB ASP (ARR) 1 SMB Customer churn rate 2 (€m; %; pro forma; Q2–Q4 2024 yoy growth rates reflect TeamViewer standalone) (€; pro forma) (€m; %; pro forma; Q2–Q4 2024 yoy growth rates reflect TeamViewer standalone) (%; LTM; pro forma) (eop; k; pro forma) 796 796 803 813 817 Q2 2024 Q4 2024 Q2 2025 15 TeamViewer | Q2 2025 Results 14.6 %14.6 %15.0 %15.3 %15.6 % Q2 2024 Q4 2024 Q2 2025 1 Since Q1 2025, ASP is calculated based on ARR. Prior year numbers have been restated based on ARR. | 2 Since Q1 2025, the number of customers is calculated based on ARR. Prior year numbers have been restated based on ARR. (2 % cc)(6 % cc) (2 % cc) (5 % cc) (3 % cc)
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Q2 2025 Recurring Cost slightly decreased yoy • COGS: Largely stable yoy • Sales: Increased sales force in all regions • Marketing: Lower due to optimized sponsorship cost • R&D: Up due to investments in product offering and FTEs, offset by reduced external support • G&A: Largely stable yoy • Other: Gain due to lower bad debt and proceeds from derivatives in € million Q2 2025 Pro forma Q2 2024 Pro forma ∆ % 6M 2025 Pro forma 6M 2024 Pro forma ∆ % Revenue 190.7 180.8 +5 % 380.9 357.9 +6 % Cost of Goods Sold (COGS) (15.4) (15.3) +1 % (31.6) (29.7) +7 % Gross profit 175.2 165.5 +6 % 349.3 328.2 +6 % % Margin 92 % 92 % 0 pp 92 % 92 % 0 pp Sales (30.4) (28.4) +7 % (61.5) (57.0) +8 % % of Revenue -16 % -16 % -16 % -16 % Marketing (30.7) (35.0) -12 % (56.3) (70.5) -20 % % of Revenue -16 % -19 % -15 % -20 % R&D (21.4) (19.9) +8 % (43.5) (40.5) +8 % % of Revenue -11 % -11 % -11 % -11 % G&A (9.3) (9.4) -2 % (19.4) (17.9) +8 % % of Revenue -5 % -5 % -5 % -5 % Other 1 0.6 (1.1) -151 % (2.8) (2.6) +8 % % of Revenue 0 % -1 % -1 % -1 % Total Opex (91.2) (94.0) -3 % (183.7) (188.6) -3 % % of Revenue -48 % -52 % -48 % -53 % Total Costs 2 (106.7) (109.3) -2 % (215.3) (218.2) -1 % Adjusted EBITDA 84.0 71.6 +17 % 165.6 139.7 +19 % % Margin 44 % 40 % 4 pp 43 % 39 % 4 pp 16 Strong growth in Adj. EBITDA up 17 % yoy TeamViewer | Q2 2025 Results 1 Incl. other income/expenses and bad debt expenses of €1.9m in Q2 2025 and €2.5m in Q2 2024 / €5.4m in 6M 2025 and €5.3m in 6M 2024. 2 Total Costs are the sum of Cost of Goods Sold (COGS) and Total Opex.
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• Total interest expenses of €10.4m in Q2 2025, up €5.7m yoy; driven by the financing of the 1E transaction • Lower Financial / FX result due to negative FX translation effect related to an intercompany loan, as required under IFRS • Lower share count due to last year’s share buybacks Adj. EPS up 19 % yoy vs. TMV standalone €m Q2 2025 IFRS Q2 2024 TMV standalone ∆ % 6M 2025 Pro forma 6M 2024 TMV standalone ∆ % EBITDA 82.9 60.2 +38 % 145.9 113.2 +29 % D&A (14.0) (14.3) -2 % (27.4) (28.6) -4 % Operating Profit (EBIT) 68.9 45.9 +50 % 118.5 84.7 +40 % Financial / FX result (26.4) (5.1) >+300 % (36.0) (9.8) +266 % Share of profit/loss of associates (1.0) (1.0) 0 % (3.2) (2.1) +51 % Profit before tax (EBT) 41.6 39.8 +4 % 79.3 72.7 +9 % Income taxes (13.9) (13.2) +5 % (29.4) (23.8) +23 % Net income 27.6 26.5 +4 % 49.9 48.9 +2 % Basic number of shares issued and outstanding 1 in m 157.0 161.3 -3 % 157.0 162.9 -4 % EPS (basic) in € 0.18 0.16 +7 % 0.32 0.30 +6 % Pro forma Adjusted EPS (basic) 2 in € 0.28 0.24 +19 % 0.57 0.46 +24 % 1 Period average, without treasury shares. 2 Pro forma is only calculated for Q2/6M 2025. 17 TeamViewer | Q2 2025 Results
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• Decrease of pre-tax UFCF in Q2 driven by 1E acquisition related one-offs and higher net working capital due to phasing effects • Lower pre-tax FCFE due to higher interest payments related to the 1E acquisition • Lower tax payments as anticipated due to changes in tax scheme and phasing effects Strong FCFE Conversion of 71 % in Q2 €m Q2 2025 Non-pro forma 1 Q2 2024 TMV standalone ∆ % 6M 2025 Non-pro forma 2 6M 2024 TMV standalone ∆ % Pre-Tax net cash from operating activities (IFRS) 84.0 84.1 0 % 130.6 145.5 -10 % Capital expenditure (excl. M&A) (2.8) (1.1) +150 % (3.8) (3.0) +26 % Lease payments (5.3) (4.0) +33 % (6.8) (5.3) +27 % Pre-tax Unlevered Free Cash Flow (pre-tax UFCF) 75.9 79.0 -4 % 120.1 137.2 -12 % Cash Conversion (pre-tax UFCF / pro forma Adjusted EBITDA) 90 % 117 % 73 % 103 % Interest paid for borrowings and lease liabilities (10.7) (3.7) +191 % (19.6) (9.4) +108 % Pre-tax Levered Free Cash Flow (pre-tax FCFE) 65.3 75.3 -13 % 100.5 127.8 -21 % Cash Conversion (pre-tax FCFE / pro forma Adjusted EBITDA) 78 % 112 % 61 % 96 % Income tax paid (11.8) (14.5) -19 % (20.2) (26.4) -23 % Levered Free Cash Flow (FCFE) 53.5 60.8 -12 % 80.2 101.4 -21 % Cash Conversion (FCFE / pro forma Adjusted EBITDA) 64 % 90 % 48 % 76 % Adjustment for 1E acquisition 6.1 – 12.2 – Adjustment for a one-off payment in connection with special legal disputes – – 11.6 – Levered Free Cash Flow (FCFE) adj. for 1E and legal disputes 59.6 60.8 -2 % 104.0 101.4 +3 % Cash Conversion (FCFE / Pro forma Adjusted EBITDA) after adjustments 71 % 90 % 63 % 76 % 18 TeamViewer | Q2 2025 Results 1 Includes 1E April through June 2025. 2 Includes 1E February through June 2025.
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175 193 13 9 48.5 51.5 75 Term Loan (1E) Bridge to DCM (1E) Promissory Note 2021 Promissory Note 2024 2024 Syndicated RCF 2022 Syndicated RCF 2025 2026 2027 2028 2029 2030 2031 55.3 110.4 (686.3) (19.6) 590.0 (9.3) 40.5 (1,032.2) Pro forma net leverage ratio improved to 2.9x in line with deleveraging target (€m) 1 Net cash from operating activities (after tax). | 2 Mainly consists of payments capital element of lease liabilities, payments for financial assets and FX effects. | 3 Including lease liabilities. | 4 Calculated on pro forma Adj. EBITDA LTM of €341.4m. 2.9x 30 Jun 2025 Net Finan. Liabilities Financial Liabilities 3 Cash/Cash Equivalents Op. Cash Flow 1 Net proceeds from borrowings Paid Interest Other 2 CapEx incl. M&A 1,032.2 991.7 31 Dec 2024 Pro forma Net Leverage Ratio 4 (€m) 19 TeamViewer | Q2 2025 Results 450 Leverage further improved to 2.9x Post-1E, deleveraging to <2.0x by the end of 2026 Debt maturity profile (as of 30 June 2025) 3.2x <2.0x Closing 31 Jan 2025 4 quarters 8 quarters €265m drawdown of €450m 2022 Syn. RCF 2525 25 25 150 Q2 2025 2.9x 30 Jun 2025 Cash/Cash Equivalents Q1 2025 3.1x
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Growth acceleration expected in H2 • Larger pipeline and higher conversion: strengthened sales execution expected to drive higher win rates; larger deals expected, particularly in Q4 when Enterprise typically sees a seasonal peak • ARR 1E Synergies starting to come through: first promising leads secured to sell DEX into large TeamViewer base • Improved customer journey and sales channels to reignite SMB: new in-product marketplace and wider adoption of the new UI is expected to fuel monetization through both upgrades and cross-sell • Targeted GTM campaigns: focused initiatives such as product replacements and phaseout campaigns to boost regional performance • Operational capacity unlocked: team integration efforts are largely completed; post-integration focus fully shifted to growth and execution • However, macro uncertainty continues to affect customer decision making 1. Ranges indicate guidance ranges between the specified values 2. Based on EUR/USD FX rate of 1.05 3. As 2025 is a transition year, breakdown of TeamViewer & 1E standalone is provided for information purposes only in 2025 20 TeamViewer | Q2 2025 Results FY 2025 Pro forma guidance reiterated which breaks down approx. into: 3 Adj. EBITDA margin % 2 ARR in € 2 (equivalent to YoY %) 2 Revenue in € 2 (equivalent to YoY %) 2 FY 2025 Guidance, pro forma 1 (Jan 1 - Dec 31, 2025) 43 % 758m 740m 697m - 712m 81m - 85m around 43 % 815m - 840m ( +7.5 % to +10.8 % ) 778m - 797m ( +5.1 % to +7.7 % ) FY 2024 Actuals, TMV+1E unaudited (Jan 1 - Dec 31, 2024) 671m 69m TeamViewer 1E
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Q&A
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Appendix
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Overview Topline KPIs Q2’25 Pro forma Q1’25 Pro forma Q4’24 Pro forma Q3’24 Pro forma Q2’24 Pro forma Q1’24 Pro forma SMB ARR 2 in €m 532.0 535.2 533.4 529.6 528.8 525.0 ASP (ARR) in € 816.9 812.9 802.8 796.3 796.2 794.7 Number of customers 1 651,221 658,327 664,461 665,147 664,197 660,683 Enterprise ARR 2 in €m 227.1 224.4 223.9 208.0 201.5 185.6 ASP (ARR) in € thousands 44.2 44.5 45.2 44.3 44.1 41.9 Number of customers 1 5,143 5,044 4,957 4,698 4,573 4,426 Total ARR in €m 759.1 759.5 757.4 737.6 730.3 710.7 Revenue in €m 190.7 190.3 195.3 186.8 180.8 177.1 1 After implementation of the ARR methodology, the number of customers is now calculated based on ARR. 2024 numbers have been restated based on ARR. 2 Incremental improvements in methodology of parent-child account relationships / the merging of multiple customer accounts led to minor adjustments in the historical ARR segmentation for TeamViewer ENT and SMB. 23 TeamViewer | Q2 2025 Results
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Q2 2025: Reconciliation management metrics to IFRS in EUR million Pro forma Management view adjusted P&L Pro forma adjustments Management view Revenue adj. P&L D&A Other non-IFRS adjustments Accounting view IFRS P&L Revenue 190.7 (5.0) 185.6 185.6 Cost of Goods Sold (COGS) (15.4) (15.4) (9.0) (0.3) (24.7) Gross profit contribution 175.2 (5.0) 170.2 160.9 % of Revenue 91.9 % 100.0 % 91.7 % 86.7 % Sales (30.4) (30.4) (1.7) (2.0) (34.1) Marketing (30.7) (30.7) (0.9) (0.5) (32.1) R&D (21.4) (21.4) (1.8) (1.5) (24.7) G&A (9.3) (9.3) (0.6) (3.2) (13.0) Other 1 0.6 0.6 0.0 6.4 7.0 Adj. EBITDA 84.0 (5.0) 79.0 % of Revenue 44.1 % 42.5 % D&A (ordinary only) 2 (6.6) (6.6) Adj. EBIT / Operating profit (EBIT) 77.4 (5.0) 72.4 (7.4) 3 (1.1) 63.9 % of Revenue 40.6 % 39.0 % 34.4 % D&A (total) 2+3 14.0 EBITDA 77.9 % of Revenue 41.9 % 1 Incl. other income/expenses and bad debt expenses of €1.9m 2 D&A excl. amortization intangible assets from PPA 3 Amortization intangible assets from PPA 24 TeamViewer | Q2 2025 Results
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6M 2025: Reconciliation management metrics to IFRS €m Pro forma Management view adjusted P&L Pro forma adjustments Management view Revenue adj. P&L 1 D&A Other non-IFRS adjustments Accounting view IFRS P&L Revenue 380.9 (16.6) 364.4 364.4 Cost of Goods Sold (COGS) (31.6) 0.7 (31.0) (16.7) (1.5) (49.2) Gross profit contribution 349.3 (15.9) 333.4 315.2 % of Revenue 91.7 % 96.0 % 91.5 % 86.5 % Sales (61.5) 2.2 (59.3) (3.6) (4.1) (67.1) Marketing (56.3) 0.6 (55.7) (1.8) (2.0) (59.5) R&D (43.5) 1.7 (41.9) (3.9) (2.2) (47.9) G&A (19.4) 0.5 (19.0) (1.4) (10.9) (31.3) Other 1 (2.8) 0.5 (2.4) 10.0 7.6 Adj. EBITDA 165.6 (10.5) 155.1 % of Revenue 43.5 % 42.6 % D&A (ordinary only) 2 (13.9) (13.9) Adj. EBIT / Operating profit (EBIT) 151.8 (10.5) 141.3 (13.5) 3 (10.7) 117.1 % of Revenue 39.8 % 38.8 % 32.1 % D&A (total) 2+3 27.3 EBITDA 144.4 % of Revenue 39.6 % 1 Incl. other income/expenses and bad debt expenses of €5.4m 2 D&A excl. amortization intangible assets from PPA 3 Amortization intangible assets from PPA 25 TeamViewer | Q2 2025 Results
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Non-IFRS EBITDA adjusted by 1) non-recurring items • IFRS2 charges, mainly RSU • 1E acquisition related items • Valuation effects from fair value derivatives of future USD hedges due to changing EUR/USD development 2) 1E deferred revenue haircut Non-IFRS adjustments in EBITDA €m (unless otherwise stated) Basis of preparation / definition Q2 2025 6M 2025 EBITDA APM 77.9 144.4 Total IFRS 2 charges (expenses for share-based compensation) APM +4.8 +11.3 TeamViewer LTIP APM -0.5 +1.2 RSU/PSU 1 APM +4.2 +7.9 M&A related share-based compensation APM +0.1 +0.2 Share-based compensation by TLO 2 APM +1.1 +2.0 1E acquisition related integration & transaction costs APM +1.8 +7.3 Other material items APM +0.7 +3.8 Financing APM 0.0 0.0 Other APM +0.7 +3.8 Valuation effects APM (6.2) (11.7) Non-pro forma Adjusted EBITDA APM 79.0 155.1 Add back: 1E deferred revenue haircut Pro forma adjustment +5.0 +10.5 1E January 2025 Adjusted EBITDA Pro forma adjustment – +0.03 Pro forma Adjusted EBITDA Pro forma 84.0 165.6 Pro forma Adjusted EBITDA (%) Pro forma 44 % 43 % 1 Refers to the Restricted Stock Unit Plan (RSU) und Phantom Stock Unit Plan (PSU) introduced by TeamViewer in 2022. 2 Pre-IPO management incentive program provided by Tiger LuxOne S.à r.l. 26 TeamViewer | Q2 2025 Results
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Financial Statements
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Profit & Loss Statement (IFRS) € thousand Q2 2025 Q2 2024 ∆ % 6M 2025 6M 2024 ∆ % Revenue 185,629 164,116 +13 % 364,382 325,770 +12 % Cost of Goods Sold (COGS) (24,681) (23,410) +5 % (49,199) (45,498) +8 % Gross profit 160,947 140,705 +14 % 315,183 280,272 +12 % Research and development (24,744) (18,948) +31 % (47,912) (38,690) +24 % Marketing (32,143) (34,407) -7 % (59,487) (69,912) -15 % Sales (34,093) (27,776) +23 % (67,071) (56,035) +20 % General and administrative (13,026) (10,048) +30 % (31,265) (21,285) +47 % Bad debt expenses (1,919) (2,501) -23 % (4,989) (5,199) -4 % Other income 9,149 736 n/a 15,110 1,121 n/a Other expenses (267) (1,829) -85 % (2,479) (5,608) -56 % Operating Profit 63,905 45,933 +39 % 117,090 84,664 +38 % Finance income 108 422 -74 % 242 597 -59 % Finance costs (10,433) (4,773) +119 % (19,198) (9,186) +109 % Share of profit/(loss) of associates (984) (987) 0 % (3,165) (2,095) +51 % Foreign currency result (16,069) (799) n/a (14,415) (1,257) n/a Profit before tax 36,528 39,796 -8 % 80,554 72,723 +11 % Income taxes (13,913) (13,248) +5 % (28,309) (23,835) +19 % Net income 22,615 26,548 -15 % 52,245 48,888 +7 % Basic number of shares issued and outstanding (in thousands) 156,966,162 161,287,689 156,966,162 162,878,461 Basic earnings per share (in € per share) 0.14 0.16 -12 % 0.33 0.30 +11 % Diluted number of shares issued and outstanding (in thousands) 157,973,657 162,253,120 158,057,101 164,047,119 Diluted earnings per share (in € per share) 0.14 0.16 -13 % 0.33 0.30 +11 % 28 TeamViewer | Q2 2025 Results
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Balance Sheet – Assets (IFRS) € thousand 30 June 2025 31 December 2024 Non-current assets Goodwill 1,121,376 668,091 Intangible assets 363,630 149,006 Property, plant and equipment 43,382 41,457 Financial assets 7,995 5,412 Investments in associates 16,371 20,862 Other assets 25,198 22,440 Deferred tax assets 773 28,750 Total non-current assets 1,578,726 936,018 Current assets Trade receivables 32,581 30,187 Other assets 48,769 39,221 Tax assets 511 257 Financial assets 10,531 9,394 Cash and cash equivalents 40,515 55,265 Total current assets 132,907 134,323 Total assets 1,711,633 1,070,341 29 TeamViewer | Q2 2025 Results
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Balance Sheet – Equity & Liabilities (IFRS) € thousand 30 June 2025 31 December 2024 Equity Issued capital 170,000 170,000 Capital reserve 69,185 70,327 (Accumulated losses)/retained earnings 80,138 27,893 Hedge reserve (1,920) 5,822 Foreign currency translation reserve (59,925) 4,653 Treasury share reserve (167,636) (178,211) Total equity attributable to shareholders of TeamViewer SE 89,842 100,485 Non-current liabilities Provisions 693 615 Financial liabilities 508,302 329,143 Deferred revenue 45,741 44,827 Deferred and other liabilities 2,646 1,488 Other financial liabilities 11,604 288 Deferred tax liabilities 69,804 45,540 Total non-current liabilities 638,789 421,902 Current liabilities Provisions 1,513 10,184 Financial liabilities 523,872 115,490 Trade payables 16,545 15,840 Deferred revenue 372,957 336,390 Deferred and other liabilities 59,418 65,412 Other financial liabilities 1,996 1,817 Tax liabilities 6,699 2,822 Total current liabilities 983,001 547,954 Total liabilities 1,621,790 969,856 Total equity and liabilities 1,711,633 1,070,341 30 TeamViewer | Q2 2025 Results
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Cash Flow Statement (IFRS) € thousand Q2 2025 Q2 2024 ∆ % 6M 2025 6M 2024 ∆ % Profit before tax 36,528 39,796 -8 % 80,554 72,723 11 % Depreciation, amortization and impairment of non-current assets 13,966 14,315 -2 % 27,338 28,583 -4 % Increase/(decrease) in provisions (279) (42) n/a (8,593) 299 n/a Non-operational foreign exchange (gains)/losses 807 (133) n/a 1,075 (128) n/a Expenses for equity settled share-based compensation 5,168 4,827 7 % 9,432 10,613 -11 % Net financial costs 11,309 5,338 112 % 22,121 10,684 107 % Change in deferred revenue 6,414 (338) n/a 37,480 16,674 125 % Changes in other net working capital and other 10,050 20,314 -51 % (38,779) 6,082 n/a Income taxes paid (11,802) (14,484) -19 % (20,231) (26,407) -23 % Cash flows from operating activities 72,159 69,591 4 % 110,397 119,124 -7 % Payments for tangible and intangible assets (2,757) (1,103) 150 % (3,751) (2,975) 26 % Payments for financial assets – (4,047) -100 % (480) (4,047) -88 % Payments for acquisitions (15,317) – n/a (682,500) – n/a Cash flows from investing activities (18,074) (5,150) 251 % (686,730) (7,022) n/a 31 TeamViewer | Q2 2025 Results
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Cash Flow Statement (IFRS, continued) € thousand Q2 2025 Q2 2024 ∆ % 6M 2025 6M 2024 ∆ % Repayments of borrowings (130,000) (120,000) 8 % (130,000) (220,000) -41 % Proceeds from borrowings – 100,000 -100 % 720,000 190,000 279 % Payments for the capital element of lease liabilities (5,279) (3,984) 33 % (6,783) (5,345) 27 % Interest paid on borrowings and lease liabilities (10,653) (3,662) 191 % (19,638) (9,433) 108 % Purchase of treasury shares – (26,609) -100 % – (94,307) -100 % Cash flows from financing activities (145,932) (54,255) 169 % 563,579 (139,084) n/a Net change in cash and cash equivalents (91,847) 10,186 n/a (12,754) (26,983) -53 % Net foreign exchange rate difference (1,483) (81) n/a (1,996) 53 n/a Net change from cash risk provisioning – – n/a – – n/a Cash and cash equivalents at beginning of period 133,845 35,787 274 % 55,265 72,822 -24 % Cash and cash equivalents at end of period 40,515 45,892 -12 % 40,515 45,892 -12 % 32 TeamViewer | Q2 2025 Results
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Financial Calendar 4 November 2025 Q3 2025 Results & Analyst Call