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That's because billings rose 45 percent then due to sudden increased demand from the Corona pandemic. Besides that, the currency-adjusted growth of 18 percent did not fall significantly short of the forecast growth of 20 percent.įurthermore, the growth in Q2 2021 could be distorted due to a high comparative value from Q2 2020. In this respect, I don't weight the development in one quarter too highly. There was also a certain seasonality in 2019, where the 1st quarter was weaker than the preceding 4th quarter of 2018. There, too, billings came to €119.7 million in Q1, while they were only €105.9 million in Q2 2020. But let's take a closer look at the numbersįirst of all, Q2 was affected by a typical seasonality as we saw the same pattern last year. Secondly, while management continues to target an increase in billings to €585 to 605 million in 2021, it now expects a result at the lower end of this range. Investors reacted harshly to the figures for two reasons: First, TeamViewer missed its self-imposed target of 20 percent growth in billings, as expected contract renewals were lower than expected, especially in April and May.
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With an adjusted EBITDA of €56.6 million (2020: €57.3 million), the EBDITA margin was 55 percent.
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Adjusted for currency effects, the increase was slightly higher at 18 percent. Billings, i.e., the value (net) of services or products that TeamViewer charges its customers, grew by approximately 15 percent to €121.6 million compared to the same quarter last year. The reason for the poor share price development last week is the announcement of the preliminary figures for Q2 2021. Given this, there are nevertheless risks associated with an investment. And what could I say? I remain massively convinced of the fundamental business strategy and the capabilities of the management. I regularly repurchased shares of the company to the extent that TeamViewer is now the largest holding in my broadly diversified portfolio in terms of invested capital.
Teamviewer stock skin#
But not only that, I had skin in the game. I have always been very bullish on the company and the stock here on Seeking Alpha. It is trading less than 10 percent above the issue price of just under €26. The share price has fallen further, by 45 percent, from its all-time high of €51. With daily losses of up to 15 percent, the share price took a severe beating when the company disclosed its preliminary results for 2Q 2021. Fundamental company data provided by Morningstar, updated daily.Sefa ozel/iStock via Getty Images Introductionįor TeamViewer ( OTCPK:TMVWY) ( OTCPK:TMVWF) investors, the last week was pretty tough. Stock quotes provided by InterActive Data. The gurus listed in this website are not affiliated with, LLC. The information on this site is in no way guaranteed for completeness, accuracy or in any other way. The information on this site, and in its related newsletters, is not intended to be, nor does it constitute investment advice or recommendations. Past performance is a poor indicator of future performance. In no event shall be liable to any member, guest or third party for any damages of any kind arising out of the use of any content or other material published or available on, or relating to the use of, or inability to use, or any content, including, without limitation, any investment losses, lost profits, lost opportunity, special, incidental, indirect, consequential or punitive damages. Gurus may be added or dropped from the GuruFocus site at any time.
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