TeamViewer AG releases financial update; billings ahead of 2019 guidance
IMPORTANT NOTICE Certain statements in this communication may constitute forward looking statements. These statements, including the financial information set out herein, are preliminary, unaudited, and 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 preliminary figures or other forward-looking statements discussed in these statements.
Alternative performance measures (APM) This document contains certain alternative performance measures (collectively, APMs) including billings, EBITDA and Cash 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, EBITDA, Cash 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 revenue adjusted for change in deferred revenue p/l effective; "EBITDA" means operating (loss)/profit before depreciation and amortisation; "Cash EBITDA" means EBITDA adjusted for specific non-recurring items, change in deferred revenue p/l effective.
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