The software provider TeamViewer exceeded its annual forecast in 2024 with a revenue growth of 9 percent to around 671 million euros. According to preliminary calculations, the revenue was thus slightly above the targeted range of 662 to 668 million euros. This was attributed to unexpectedly strong "billings" of around 700 million euros, which were due to significant contract signings with major customers and in the frontline area in the fourth quarter, the MDAX and TecDAX company announced.

The adjusted EBITDA margin is expected to remain at at least 44 percent. Detailed business figures for the fourth quarter and the full year are to be published on February 12.

Investors reacted positively: The TeamViewer share rose by 8.52 percent to 10.39 euros on Wednesday, continuing its recovery path after price losses in December. The share had recently reached its lowest level since autumn 2022, below 9 euros. Analysts praised the strong billings, which significantly exceeded the market expectation of 668 million euros, reaching about 700 million euros.

The recent price increase was also reinforced by so-called short covering, as some investors had bet on falling prices. "These investors had to unwind their positions, which further drove the stock up," explained Frederik Altmann of Alpha Wertpapierhandel.

Analyst Andreas Wolf from Warburg Research emphasized that TeamViewer reached the original annual forecast of 660 to 685 million euros with the reported revenue, after it was revised downwards in November. DZ Bank confirmed its buy recommendation with a target price of 20 euros, as the key data supported the positive assessment.