The Creators of TeamViewer Cut Their Full-Year Guidance

TeamViewer is a well-known software that allows you to remotely access devices. The creators of TeamViewer admitted that their quarterly results appeared to be less than they expected, which led them to cut full-year guidance. The company mentioned that the enterprise deals contribution was growing slower than anticipated. As of right now, the TeamViewer shares fell 18%.

Similar to a number of other applications, such as Zoom, TeamViewer experienced a significant interest in the product during the pandemic. As more and more people had to stay at home, different tools, such as TeamViewer, helped to continue the workflow even when people couldn’t get together. At the same time, this year the company noticed that fewer people than they expected decided to continue using the software.

The company now expects billings for 2021 to be between 530 million and 555 million euros. Previously, they anticipated that the lowest numbers would be from 585 million to 600 million euros, which is surely a significant difference.

As for the revenue guidance, the expectations have also been adjusted quite a lot. Before, TeamViewer thought they would receive from 520 million to 540 million euros, but now it seems closer to 495 million and 505 million euros.

It’s not surprising that some companies only experienced a serious spike of interest only during times of self-isolation. It would be interesting to see how a number of video conference and remote access software would continue to attract new users once the situation with the pandemic settles down.

Do you use TeamViewer for work or your daily life? Please, tell us what you think about TeamViewer and whether this is something that you find useful when you are not in quarantine.