Remote connectivity specialist TeamViewer has reported sales growth in Q4 of 2021 which will take its full year up 75%.
February’s investor presentation saw TeamViewer billings up 20% year-on-year in the final quarter, making its annual sales up to €547.6 million (£456.4m).
Oliver Steil, chief executive of Germany-based TeamViewer, said year-end results set a course for continued growth.
“With decisive investments in our portfolio, we have built an industry-leading augmented reality (AR) platform and bolstered our position in important growth markets,” Steil said.
TeamViewer is known for its enterprise remote connectivity solution Tensor, but also has a burgeoning AR business. During 2021, TeamViewer inked new partnerships with SAP and Google Cloud with a view to expanding its global reach.
Stefan Gaiser, chief financial officer at TeamViewer, said the quarter’s financial results had matched expectations, delivering profitability and cashflow.
“We successfully expanded our customer base across all industries and verticals. Through our clear focus on cost containment, we were able to maintain high profitability and achieve margins ahead of our revised guidance,” Gaiser said.
Q4 billings growth was “especially strong” in the Asia-Pacific, which rose 31% year-on-year to €13.3m in the quarter, according to the vendor.
Sales growth was driven by enterprise and SMB connectivity business. The company had also managed to contain costs, TeamViewer’s report said, as well as acquiring AR firms Upskill and Viscopic and customer engagement software provider Xaleon during 2021.
TeamViewer will release its annual 2021 report on 16 March 2022.
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