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How can I remotely connect to and help a 10.10.5 MacBook (13-inch, Mid 2009) from my 10.11.6 iMac (Early 2009)?

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I have tried TeamViewer 13.2 (on both Macs) without success. My version keeps saying:

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«The remote TeamViewer is running an old version which is out of date.Therefore you can not connect to this Version anymore. Your connection partner can update TeamViewer by clicking on 'Help' - 'Check for new version'.»

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But my remote partner can not update to any newer version than 13.2 because 10.10.5 does not allow it - and the old Macbook can not be updatet beyond 10.10.5.

Mac

Anyone...?

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Posted on Apr 2, 2020 8:10 AM

TeamViewer AG delivers strong Q3 growth and high profitability - guidance increased

DGAP-News: TeamViewer AG/ Key word(s): Quarterly / Interim Statement
10.11.2020 / 07:00
The issuer is solely responsible for the content of this announcement.

TeamViewer AG delivers strong Q3 growth and high profitability - guidance increased

  • Q3 billings up 29% yoy (+34% cc) to EUR 106.4m and 9M billings of EUR 332.1m (+48% yoy; +50% cc)
  • Q3 Adjusted EBITDA of EUR 58.2m (+26% yoy; +34% cc) and 9M Adjusted EBITDA of EUR 189.3m (+58% yoy; +61% cc)
  • Q3 first quarter in a normalized market environment after COVID-19 pandemic-related extra demand
  • Number of subscribers increased to 567 thousand as of 30 September 2020
  • TeamViewer has been installed on more than 2.5 billion devices until today
  • Ubimax integration progressing well
  • Billings guidance for 2020 increased to EUR 450-455m, excluding Ubimax contribution

Goppingen, 10 November 2020: TeamViewer continued to deliver strong growth and high profitability in the third quarter, driven by the company's broad solutions portfolio and leading position in attractive markets. Q3 billings grew by 29% year-over-year (yoy) and by 34% at constant currencies (cc) to EUR 106.4m. This resulted in billings of EUR 332.1m in the first nine months of 2020, up 48% yoy (+50% cc).

Q3 Adjusted EBITDA was up 26% yoy (+34% cc) to EUR 58.2m corresponding to an Adjusted EBITDA margin of 55% (Q3 2019: 56%). 9M Adjusted EBITDA grew by 58% yoy (+61% cc) to EUR 189.3m resulting in an Adjusted EBITDA margin of 57%, up 4 percentage points.

Oliver Steil, CEO of TeamViewer, said: 'In our first year as a listed company we have over-delivered on our growth plan. Until today, our software has been installed on more than 2.5 billion devices around the globe which shows our leadership in connectivity. We have significantly broadened our expertise and solutions portfolio with the successful acquisition of Ubimax. Our combined offering provides a strong platform for future growth and we see a huge market potential in particular in the industrial sector driven by Internet of Things and Augmented Reality.'

Stefan Gaiser, CFO of TeamViewer, said: 'Our substantial investments in recent years are a key factor for our success. We are very pleased with our performance in Q3 which proves our long-term growth opportunities in a normalized market environment after the pandemic-related extra demand. The results underline our industry-leading financial profile of strong billings growth combined with high profitability. Also, thanks to a promising start into Q4, particularly in the enterprise segment, we have raised our full-year billings guidance and are very confident for 2021.'

Business Update

In July 2020, TeamViewer announced the acquisition of Ubimax to create the global leader in connectivity solutions and workplace digitalization technology. The transaction was closed in August 2020. The integration of Ubimax's products into the TeamViewer portfolio is progressing well with coordinated cross-selling opportunities already starting to materialize. With Ubimax, the size of the Total Addressable Market (TAM) increases by EUR 10 billion to EUR 40 billion in 2023. The combination of the product portfolios also accelerates the TAM's annual growth rate from 24% to 27% mainly driven by the strong expansion of the Augmented Reality market.

With the integration of TeamViewer into Microsoft Teams, allowing users to launch TeamViewer remote access and AR support connections from within the Microsoft Teams environment, the company further expands its use case scenarios and increases its brand awareness among more than 115m daily Microsoft Teams users.

The increasing maturity of the group's enterprise offering including Tensor, Frontline and IoT solutions is reflected in a now combined Go-to-Market approach for those products. As a result of TeamViewer's growth initiative in this segment, the enterprise customer base has grown by 181% to 1,658 subscribers over the last twelve months (30 September 2019: 590). The number of total subscribers increased to 567thousand (30 September 2019: 432 thousand) while the net retention rate of 104% led to a further expansion of more predictable annual recurring billings from retained subscribers.

In the first nine months, TeamViewer continued to invest significantly across all functions with a focus on Sales and R&D. The group has added about 370 employees (full-time equivalents) since the start of the year, thereof more than 120 in software engineering and nearly 150 across all sales functions. Despite those significant investments TeamViewer was able to further expand its Adjusted EBITDA margin.

In addition, TeamViewer signed the UN Global Compact initiative and has received favorable ESG ratings from various independent agencies. These include the 'AA' ESG rating from the agency MSCI, awarding TeamViewer as a leader in ESG in the Software & IT Services sector.

Key Figures

EUR mQ3 2020Q3 2019Δ yoyΔ cc9M 20209M 2019Δ yoyΔ cc
Billings106.482.729%34%332.1224.348%50%
EMEA48.036.133%34%172.9116.049%50%
AMERICAS42.335.918%27%113.377.047%50%
APAC16.110.751%56%46.031.347%49%
Adj. EBITDA58.246.026%34%189.3119.658%61%
Margin55%56%(1pp)57%53%4pp
Subscribers (thousand)1)56743231%
Net Retention Rate1)104%103%1pp
Employees2)1,21377257%

1) LTM, 30 September
2) Full-time equivalents, 30 September

EUR mQ3 2020Q3 2019Δ yoy9M 20209M 2019Δ yoy
Revenue (IFRS)117.2102.015%334.6283.318%
EMEA63.757.211%183.2160.314%
AMERICAS38.032.318%108.588.523%
APAC15.512.623%43.034.525%
Operating Profit (EBIT)43.818.1142%125.7108.316%
Margin37%18%20pp38%38%(1pp)
Levered Free Cash Flow29.929.13%109.445.2142%

Financial Update

All regions have contributed to the group's strong billings growth. APAC's Q3 billings grew the fastest by 56% cc delivering EUR 16.1m, due to a very strong performance in Japan and China. EMEA remained the largest of the three regions with Q3 billings of EUR 48.0m, up 34% cc - the strong performance was very well balanced across EMEA, including key markets like Germany, UK and France. The AMERICAS showed particularly strong traction in enterprise, delivering EUR 42.3m of billings in Q3. Adjusted for currency effects considering the devaluation of the US-Dollar as well as other currencies in the region, billings grew by 27%.

Revenue (IFRS) exceeded billings in the third quarter (EUR 117.2m) and in the first nine months (EUR 334.6m) due to the recognition of deferred perpetual license revenue during the first nine months as well as subscription deferred revenue releases in the third quarter.

TeamViewer's high profitability continues to translate into very strong cash generation. Net cash from operating activities grew by 92% yoy in the first nine months to EUR 160.4m, while levered free cash flow increased by 142% to EUR 109.4m. Despite the Ubimax acquisition net leverage remained low at 2.0 times Adjusted EBITDA (30 June 2020: 1.9x).

Raising Full Year Billings Guidance

Following the very strong performance in the first nine months and a promising start into the fourth quarter, particularly in the enterprise segment, TeamViewer has increased its full-year billings guidance to EUR 450-455m from previous estimates of around EUR 450m. This does not include the contributions from the Ubimax business and corresponds to 38.5 - 40.0% billings growth yoy (40.5 - 42.0% cc). TeamViewer still expects revenue of at least EUR 450m, an Adjusted EBITDA margin of around 56% and a capital expenditure of EUR 25 to 30m. In 2021 and beyond, TeamViewer continues to benefit from global megatrends around digitalization and sustainability.

Conference Call and Webcast Details

Oliver Steil (CEO) and Stefan Gaiser (CFO) will host an analyst and investor conference call at 14:00 CET on 10 November 2020 to discuss the results. The audio webcast can be followed via https://webcasts.eqs.com/teamviewer20201110. A replay will be available on the Investor Relations website under https://ir.teamviewer.com/websites/teamviewer/English/1/investor-relations.html. The accompanying presentation can be also downloaded there.

###

About TeamViewer

TeamViewer is a leading global technology company that provides a connectivity platform to remotely access, control, manage, monitor, and repair devices of any kind - from laptops and mobile phones to industrial machines and robots. Although TeamViewer is free of charge for private use, it has more than 500,000 subscribers and enables companies of all sizes and from all industries to digitalize their business-critical processes through seamless connectivity. Against the backdrop of global megatrends like device proliferation, automation and new work, TeamViewer proactively shapes digital transformation and continuously innovates in the fields of Augmented Reality, Internet of Things or Artificial Intelligence. Since the company's foundation in 2005, TeamViewer's software has been installed on more than 2.5 billion devices around the world. The company is headquartered in Goppingen, Germany, and employs more than 1,200 people globally. In 2019, TeamViewer achieved billings of around EUR 325m. TeamViewer AG (TMV) is listed at Frankfurt Stock Exchange and belongs to the MDAX. Further information can be found at www.teamviewer.com.

Contact

Press Contact TeamViewer
Martina Dier

Director, Communications
Phone: +49 (0)7161 97200 10
E-Mail: [email protected]
Investor Relations Contact TeamViewer
Carsten Keller

Head of Investor Relations and Capital Markets Phone: +49 (0)151 1941 7780
E-Mail: [email protected]

Goppingen, 10 November 2020

Financial Calendar

Q4/FY 2020 Financial Update11 January 2021
Q4/FY 2020 Preliminary Results16 February 2021

IMPORTANT NOTICE
Certain statements in this communication 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 we undertake no obligation to update or revise these statements. Our 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. All stated figures are unaudited.

Alternative performance measures (APMs)
This document contains certain alternative performance measures (collectively, 'APMs') including billings and Adjusted EBITDA that are not required by, or presented in accordance with, IFRS, German GAAP or any other generally accepted accounting principles. TeamViewer presents APMs because they are used by management in monitoring, evaluating and managing its business and management believes these measures provide an enhanced understanding of TeamViewer's underlying results and related trends. The definitions of the APMs may not be comparable to other similarly titled measures of other companies and have limitations as analytical tools and should, therefore, not be considered in isolation or as a substitute for analysis of TeamViewer's operating results as reported under IFRS or German GAAP. APMs such as billings and Adjusted EBITDA are not measurements of TeamViewer's performance or liquidity under IFRS or German GAAP and should not be considered as alternatives to results for the period or any other performance measures derived in accordance with IFRS, German GAAP or any other generally accepted accounting principles or as alternatives to cash flow from operating, investing or financing activities.

TeamViewer has defined each of the following APMs as follows:
'Billings' represent the (net) value of goods and services invoiced to customers in a given period whose realization is probable - it is defined as revenue adjusted for change in deferred revenue P&L-effective; 'Adjusted EBITDA' means EBITDA, adjusted for P&L-effective changes in deferred revenue as well as for certain special items relating to share based compensations and other material items that are not reflective of the operating performance of the business;
'Adjusted EBITDA margin' means Adjusted EBITDA as a percentage of billings.


Operational metrics and other financial measures for information purposes
This document also includes further certain operational metrics, such as Net Retention Rate, and additional financial measures that are not required by, or presented in accordance with IFRS, German GAAP or any other generally accepted accounting principles (collectively, 'other financial measures'). TeamViewer presents these operational metrics and other financial measures for information purposes and because they are used by the management for monitoring, evaluating and managing its business. The definitions of these operational metrics and other financial metrics may not be comparable to other similarly titled measures of other companies and have limitations as analytical tools and should, therefore, not be considered in isolation or as a substitute for analysis of TeamViewer's operating results, performance or liquidity as reported under IFRS or German GAAP.

TeamViewer has defined these operational metrics and other financial measures for information purposes as follows:
'Net retention rate' means annual recurring billings of existing subscription customers during the period considered less gross value churn plus billings from upselling and cross-selling, including foreign exchange effects and expiring discounts, as a percentage of annual recurring billings in the previous the 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; and
'Net leverage' means the ratio of net financial debt (sum of interest-bearing loans and borrowings, current and non-current, less cash and cash equivalents) to Adjusted EBITDA.

The use by TeamViewer AG of an MSCI ESG RESEARCH LLC or its affiliates ('MSCI') data, and the use of MSCI logos, trademarks, service marks or index names herein, do not constitute a sponsorship, endorsement, recommendation, or promotion of TeamViewer AG by MSCI. MSCI services and data are the property of MSCI or its information providers, and are provided 'as-is' and without warranty. MSCI names and logos are trademarks or services of MSCI.

Consolidated Profit & Loss Statement

in thousands of euroQ3 2020Q3 2019∆ %
Revenue117,197102,02115%
Cost of sales(16,352)(12,646)29%
Gross profit100,84589,37413%
Other income1,5047,843-81%
Research and development(12,067)(10,289)17%
Sales(19,145)(14,148)35%
Marketing(9,484)(6,186)53%
General and administrative(15,735)(43,515)-64%
Other expenses62(431)-114%
Bad debt expenses(2,228)(4,572)-51%
Operating profit43,75218,078142%
Unrealised foreign exchange gains/
(losses)
12,3723,336271%
Realised foreign exchange gains/
(losses)
382(21,344)-102%
Finance income2,75216,543-83%
Finance cost(4,820)(37,295)-87%
Profit before taxation54,437(20,682)-363%
Tax income/(expenses)(22,812)34,294-167%
Profit/(loss) for the period31,62513,613132%
Other comprehensive income for the period
Items that may be reclassified to profit or loss in subsequent periods(634)530-220%
Hedge reserve, gross(14)6-319%
Exchange differences on translation of foreign operations(620)524-218%
Total comprehensive income for the period30,99114,143119%

Consolidated Balance Sheet

in thousands of euro30 September 202031 December 2019
Non-current assets
Goodwill647,117590,445
Intangible assets261,889235,831
Property, plant and equipment36,35326,480
Financial assets5,2584,424
Other assets8641,740
Deferred tax assets06,266
Total non-current assets951,481865,187
Current assets
Inventories5390
Trade receivables16,06811,756
Other assets10,2455,856
Tax assets04,972
Financial assets1,9500
Cash and cash equivalents52,96971,153
Total current assets81,77293,737
Total assets1,033,253958,924

Consolidated Balance Sheet (cont'd)

in thousands of euro30 September 202031 December 2019
Equity
Issued capital200,000200,000
Capital reserve353,854320,661
(Accumulated losses)/retained earnings(355,793)(429,881)
Hedge reserve(76)0
Foreign currency translation reserve4281,081
Total equity attributable to owners of the
parent
198,41391,861
Non-current liabilities
Provisions289235
Financial liabilities472,732582,538
Deferred revenue5682,572
Deferred and other liabilities9750
Deferred tax liabilities21,449308
Total non-current liabilities496,014585,652
Current liabilities
Provisions2,1183,284
Financial liabilities82,60634,260
Trade payables8,3129,069
Deferred revenue207,255210,250
Deferred and other liabilities35,15817,793
Other financial liabilities626,642
Tax liabilities3,315114
Total current liabilities338,826281,411
Total liabilities834,840867,063
Total equity and liabilities1,033,253958,924

Consolidated Cash Flow Statement

in thousands of euro9M 20209M 2019
Cash flows from operating activities
Profit before taxation124,13049,070
Depreciation, amortisation and impairment of non-current assets29,64127,096
(Gain)/loss from the sale of property, plant and equipment7(18)
Increase/(decrease) in provisions(137)669
Non-operational foreign exchange (gains)/
losses
(17,342)20,320
Expenses for share-based compensation33,19327,088
Net financial result15,42437,825
Change in deferred revenue(5,116)(61,250)
Changes in other net working capital and other5,170(1,850)
Income tax paid(24,707)(15,245)
Interest paid / received other than from financing activities94(18)
Net cash from operating activities160,35783,688
Cash flows from investing activities
Capital expenditure for property, plant and equipment and intangible assets(22,781)(8,144)
Proceeds from the sale of property, plant and equipment2318
Payments for the acquisition of non-current financial assets(51)0
Interest received0382
Acquisition of subsidiaries(84,053)0
Net cash used in investing activities(106,862)(7,744)
Cash flows from financing activities
Repayments of borrowings(38,987)(179,113)
Proceeds from bank borrowings074,017
Payments for the capital element of lease
liabilities
(3,358)(3,839)
Interest paid for borrowings and lease
liabilities
(24,837)(26,505)
Proceeds/(payments) from the settlement of derivatives0(98)
Proceeds/(payments) in equity025
Net cash used in financing activities(67,182)(135,512)
Net change in cash and cash equivalents(13,687)(59,568)
Net foreign exchange rate difference(4,614)1,646
Net change from cash risk provisioning117914
Internal combinations and transfers03,768
Cash and cash equivalents at beginning of period71,15379,939
Cash and cash equivalents at end of period52,96926,698

Contact:
Carsten Keller
Head of Investor Relations and Capital Markets

10.11.2020 Dissemination of a Corporate News, transmitted by DGAP - a service of EQS Group AG.
The issuer is solely responsible for the content of this announcement.
The DGAP Distribution Services include Regulatory Announcements, Financial/Corporate News and Press Releases.
Archive at www.dgap.de

English
TeamViewer AG
Bahnhofsplatz 2
73033 Göppingen
Germany
+49 7161 97200 81
+49 7161 60692 335
[email protected]
www.teamviewer.com
DE000A2YN900
A2YN90
MDAX, TecDAX
Listed:Regulated Market in Frankfurt (Prime Standard); Regulated Unofficial Market in Berlin, Dusseldorf, Hamburg, Hanover, Munich, Stuttgart, Tradegate Exchange
1146796

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