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Investing.com -- TeamViewer (ETR:TMV) said Tuesday its first-quarter revenue rose 7% from a year earlier to €190.3 million, driven by strong growth in its enterprise business and contributions from its recent acquisition of IT management firm 1E.
The company’s enterprise annual recurring revenue rose 21% to €224.4 million, while total ARR also climbed 7% to €759.5 million.
Enterprise revenue rose 22% to €59.9 million, and the number of enterprise customers increased 14% to 5,044.
TeamViewer’s adjusted earnings before interest, tax, depreciation and amortization rose 20% to €81.7 million, supported by lower marketing costs. The adjusted EBITDA margin improved by four percentage points to 43%.
Net income under IFRS grew 33% to €29.6 million. Adjusted net income rose 24% to €45.6 million.
The Americas region posted the strongest growth, with revenue up 10% to €74.3 million, while EMEA rose 6% to €97.6 million. Revenue in APAC grew 4% to €18.4 million.
The company’s pro forma net leverage ratio stood at 3.1 times at the end of the quarter. Levered free cash flow rose 10% to €44.5 million after adjustments.
TeamViewer maintained its full-year guidance, expecting ARR growth between 7.5% and 10.8%, and revenue growth between 5.1% and 7.7%.