8/17/2023 0 Comments Teamviewer stock news![]() ![]() TeamViewer is also flexing its land-and-expand muscle with the Billings by Annual Contract Value (ACV) over €50K now representing 48% of Enterprise Billings, up from 34% a year ago. Source: TeamViewer Enterprise Customers & BillingsĮnterprise Customers and Billings grew significantly from last year. The company also faces unfavorable comparables as new subscribers grew 3x overnight in March 2020. Expectations going forward need to reset on this metric as TeamViewer is focusing more on larger enterprise contracts rather than subscribers volume. In the past, this metric was helped by the free-to-pay conversion in the Instant Connectivity segment. ![]() What spooked investors were the weak subscriber growth, with the platform adding only 5K subscribers. Subscriber growth is one of the main culprits of the recent sell-off. Diving deeper into this: Subscriber growth The evolution of the RaaS platform and the addition of AR capabilities are a clear indication that the organization sees an opportunity in enterprise solutions. As presented above, the company delivers value to its customer in increasingly complex environments and this requires a different model that investors need to understand. TeamViewer is an evolving business that is pushing the envelope in its technology niche. ![]() Source: TeamViewer Capital Markets Day Presentation Pivot to Enterprise: understanding the transformation This evolution happened also through acquisitions, especially in the AR space with Ubimax in 2020. TeamViewer started by offering on a free-to-pay model what it calls Immediate Remote Support Tools, and later evolved towards serving the more complex needs of organizations. The company serves its customers through its Remote-as-a-Service (RaaS) cloud-based platform, which evolved over time. These solutions can help reduce downtime, save travel costs, and right-size the investment in knowledge workers. Use cases include the use of AR to guide the maintenance workflow of a field employee while supported remotely by an engineer sitting in a centralized team thousands of miles away. Operational Workflow Optimization: serves enterprise customers by improving the way people work. It requires a more robust solution that can handle increased security, access rights, audit trails, etc. Managed Enterprise Connectivity: covers enterprise-grade solutions that connect all sorts of machines such as elevators, medical equipment, wind turbines, etc. It represents the legacy business of TeamViewer and is at the low end of the tech spectrum. Instant Connectivity: captures the remote IT support use cases (Laptops, servers, etc.) that have in-built connectivity. How is TeamViewer serving its customers? TeamViewer delivers three types of solutions: Source: TeamViewer Capital Markets Day Presentation
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