Germany's TeamViewer Q2 revenue beats on DEX business turnaround

TeamViewer SE

28/07/2026 06:13

Overview
Germany remote connectivity software firm's Q2 revenue fell 1.4% cc but beat analyst expectations
Adjusted EBITDA margin held at 43%
Company reaffirmed full-year guidance as SMB churn stabilized and enterprise ARR grew 8.3% cc

Outlook
TeamViewer reaffirms FY 2026 guidance for revenue growth of 0% to 3% cc yoy
Company expects adjusted EBITDA margin of around 43% for FY 2026
TeamViewer anticipates growth acceleration in H2 2026 as temporary topline effects unwind

Result Drivers
DEX TURNAROUND - Co said DEX business saw a commercial recovery, with major enterprise customers recommitting through larger, longer-term agreements and increased upsell activity
TEAMVIEWER ONE ADOPTION - Rapid scaling and cross-sell momentum of TeamViewer ONE platform drove growth in high-value enterprise ARR, with several strategic DEX customers adopting the platform
AI ADOPTION - Accelerating customer adoption of AI features across core products, with AI sessions and customer usage nearly doubling from Q1, supporting TeamViewer's AI-first strategy

Company press release: ID:nEQc1HZGXa

Key Details
Metric
Beat/Miss
Actual
Consensus Estimate
Q2 Revenue
Beat
EUR 182.7 mln
EUR 167.67 mln (3 Analysts)
Q2 Adjusted EBITDA
 
EUR 78.90 mln
EUR 79.14 mln (1 Analyst)
Q2 Adjusted EBITDA Margin
 
43.00%
 
Q2 Basic EPS
 
EUR 0.19
 
Q2 EBIT
 
EUR 57.30 mln
 
     

Analyst Coverage
The current average analyst rating on the shares is "buy" and the breakdown of recommendations is 8 "strong buy" or "buy", 8 "hold" and no "sell" or "strong sell"
The average consensus recommendation for the software peer group is "buy"
Wall Street's median 12-month price target for TeamViewer SE is €7.00, about 19.1% above its July 27 closing price of €5.88
The stock recently traded at 6 times the next 12-month earnings vs. a P/E of 4 three months ago

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(This story was created using Reuters automation and AI based on LSEG and company data. It was checked and edited by a Reuters journalist prior to publication.)