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Dear ladies and gentlemen, welcome to the TeamViewer conference call for the Q1 2020 results. At our customer's request, this conference will be recorded. As a reminder, all participants will be in the listen-only mode. After the presentation, there will be an opportunity to ask questions. If any participant has difficulties hearing the conference, please press star key followed by zero on the telephone for operator assistance. May I now hand you over to Carsten Keller of Investor Relations. Please go ahead, sir.

Hi, good afternoon, everyone. Thank you all for joining TeamViewer's earnings call for the first quarter 2020. Oliver and Stefan will guide you through our results in a minute. As always, following the presentation, we're happy to take your questions. But before we start, I'd like to remind you of the cautionary note regarding forward-looking statements that you can find on page two of the presentation. Let me now hand over to Oliver. Thank you, Carsten. Good afternoon to all of you.

As always, before Stefan is going to present the, what we believe are very strong Q1 results in detail, I would like to take you through our achievements during the first quarter, talk about how the measures to contain the COVID-19 pandemic have affected TeamViewer and, of course, our global operations. If we go to page four, the megatrends and how we positioned I think, as you all know by now, our strategy is really built on the long-term drivers of digital transformation, the connectivity between an really ever-increasing number of devices and the fast-growing demand for secure remote management solutions. And during the first quarter 2020, we actually have seen all these megatrends significantly accelerated by the global efforts to fight the pandemic. Clearly to keep up productivity, businesses around the globe have implemented contingency plans, including remote work setups, now often for the entire workforce and not just for a portion of the people or certain departments. And as we have to continue to live with these distancing measures, I think there will be a higher degree of working from home and digital collaboration will remain the new normal from our perspective. But the reduced mobility not only affects the office environment. Clearly, other than in the normal home office discussion, all kinds of services conducted by employees in the field, as well as maintenance of distributed operation technology, infrastructure, all of these tasks have been impacted, and companies have to find a way to deal with them. And this makes reliable and secure remote management, augmented reality solutions, more business critical than ever before. So we really believe the pandemic has created an extra push on development that otherwise would have been pursued by companies anyway. So this clearly caused increased demand for these technologies. And we believe that these technologies will help generate efficiency gain in future. And those are required to weather the crisis and to support a global economic recovery. So we really believe what we deliver is key to companies of all sectors and in all countries globally. Therefore, from our perspective, we see that you are in the middle of accelerated megatrends, uniquely positioned to tap into the growth opportunities they present. Clearly, our high-performance connectivity platform is expanding further, serves all sectors, all verticals, and all customer segments, as we have been discussing before. Especially, our enterprise offering has grown substantially during the first quarter 2020, with more than 300 tensor licenses sold globally. And despite the global lockdowns to fight the pandemic, our operations have been largely unaffected due to the effective contingency planning that we had, virtual sales processes, And, of course, also fast and fully remote deployment of our products so we can really effectively work from home in sales, in service, pre-sales, and also in R&D. I think that was very important that we have been able to organize that pretty quickly, and it worked out very, very well. So all of this has manifested itself in significant subscriber base growing to more than 514,000 now, 75% billings growth, even higher growth in profitability and a strengthened balance sheet which Stefan is going to cover. As you can see on page five, we had significant extra demand in the first quarter of 2020. Billings were up 75% compared to Q1 2019, getting to a level of 119.7 million euro for the first three months. This extraordinary growth was driven by significant extra demand for remote access and home working solutions. uh since the outbreak especially in march and that results in overall very good performance that came on top i should say on to very good performance already in january february so even without the pandemic we had a very good growth in the first two months also a very good traction enterprise and then the extra demand in March came on top of it. Naturally, in our business model, these extra billings translate then into extra profitability. So Q1 EVDA grew by 96% year-over-year to 73.9 million. This is a margin of 62%, seven percentage point improvement over last Q1's margin, so very significantly. On the back of this accelerated growth, we will continue to invest along our three growth initiatives, strengthening customer segment coverage, use case innovation, and geographical expansion, so very much unchanged. We're also screening external growth opportunities through technology-driven M&A transactions, so smaller tuck-in M&A in technology areas, which are interesting for us, also unchanged to what we've communicated to all of you before. But of course we had a little bit of time now after the immediate crisis handling to also broaden our scope a little bit and scan the market a bit more carefully. What we would say is that especially the investments into the enterprise segment are paying off. It's a key billing driver. And it's really an achievement, has been a jump for us, especially in larger deals and enterprise customers. So I'm very pleased with that development. When you turn the page. You can see the statistics that we like to show. As a reminder, we like to focus on two statistics here. One is the customers with annual contract value above €10,000. Why is that? We, I think, explained that a large portion of our business is driven by our inside sales organization. This inside sales organization in the past probably a sweet spot of selling. contract value between a thousand to three thousand euro now with a tensor product we have really successfully enabled them to also say sell bigger ticket values items and therefore we see this trend continuing we had in the first quarter or at first of 31st of march we now had 1183 Customers with an annual contract value above €10,000, that's an increase of 153% compared to end of March 2019 and also compared to end of December, that's a 69% increase, where normally the step-up in the fourth quarter is very strong. Now we had a significant step-up in the first quarter due to the strong start in January, February. but also then the extra demand. So that's very pleasing. That's the one statistic we like to track and show to you. We're also showing here the continued development until the 30th of April, just to give an idea on how the trend continued into the second quarter. The second statistic we like to follow and track is really the accumulated amount of the top 50 deals. just to really also show not just the broad sales motion for Tenzo in our inside sales force, but also the success and the traction of our direct sales in enterprise across the regions, predominantly EMEA at this point in time. But also there you see that the top 50 deals accumulated contract value was 5.5 million in the last 12 months ending 31st of March. That's a 142% increase compared to last year's March and also 63% increase compared to December. So again, very pronounced effect on the large customer, large ticket sites. And while at the end of December, LTM, the range of the top 50 deals was 36K to roughly 300K, we now have a range of 53,000 euro to more than 500,000 euro. So very significant improvement of the large ticket size, and we're very pleased with that. And we'll continue there. Just to give you an idea, talking about selected deals, you see here the deal sizes, you see that it's really cross-sector, cross-geographies, very healthy ACV license type, mostly centered around tensor, occasionally also the call it old corporate license. Quite often a combination with remote access solutions for a larger group of employees, for remote management of IT OT equipment. We also saw a good uptake of our pilot product, the augmented reality product that helps to remotely the field technicians out there in the field. So this is very pleasing to see that we are able to gain traction in all different parts of Europe and US also, although we are slower in building up the enterprise sales force in the US, but also this is now working quite well. Maybe to give you some examples, although we cannot give the names of the companies, but just to pick a couple on this page. We have one business with an Italian pharmaceutical and diagnostics company with activities in over 100 countries. They have chosen TeamU for remote access to distributed diagnostics equipment located in various hospitals and community healthcare facilities all over the country. Basically, this allows medical experts to access and review test data, including but not only COVID-19 testing from any iOS or Windows device. Thereby, critical support and swift test results can be provided while the risk of infection is reduced, of course, if you don't have to go there but can do it remotely, and that's a significant advantage. The client benefits from the full Tensor feature set, of course, including enhanced security, single sign-on, data auditability, central account management, so everything that comes with the Tensor suite. It's 100% GDPR compliant, of course, and those were all key to win this deal. Another example, in France, the enterprise sales team has done an upselling to an existing client from a TeamViewer core license to Tensor. The company produces a range of self-service kiosks, 40,000 installations around the world. And Tensor not only enables the company to remotely access and support those kiosks, so they access really the kiosk in 80 countries without any human interaction. It also comes with improved security and audibility for high efficiency. So they really moved or changed the process to make much more use of remote capabilities and all of that in a very secure environment. And also we got a good foothold also in the public sector. I think there was an extra push through Corona in the public sector in municipalities and government authorities to think more and fast about digitalization. Here we had a key win was the European ministry with over 10,000 clerks and civil servants across the country. TeamViewer deployed instantaneously very comprehensive business continuity solutions, so that was really in the moment of truth when they needed a solution. We immediately bundled the remote access, which is a single user license for small businesses to work from home, into the overall Tenso framework. allowing users to access on-premise workstations using their own devices at home. So they didn't have, of course, company devices, so everybody can use its own device to remotely and securely connect into back-end systems and that's very important if you want to be able to perform your duties which go of course beyond meetings, video collaboration or telephone contracting. These people have to access back-end systems in order to issue transactions or handle cases and that's all possible with our solution. So also a very nice win. On this page, as you can see, many more examples of TeamViewer connectivity helping customers around the world to digitalize their processes. And we really see this development as a proof for our successful enterprise strategy because that development wouldn't have been possible without the TensorFlow product. I think as we've explained multiple times, Tenzer is really bringing the full manageability of connectivity and that was the moment when enterprises could step more forcefully and broader into our solution and that turns out to be very successful and is one of the most successful growth initiatives. Return to page eight. I think it's also important to report what have we done in terms of working on our long-term growth initiatives. As you know, I've changed the picture here from the cube to a circle. One big area is customer segment coverage. We have continued to work on this clearly. Enterprise penetration we talked about. We've also increased the number of channel partners and resellers, which we've added to our business. And also we're expanding our global partnerships and integrations. I think we've talked a lot about our integrations, back-end integration into software, hardware, and other technology plays. This quarter, I think interesting to report is the integration in Microsoft Teams, which we're working on, the integration into ELO, which is POS terminals, and also IBM Maximo. So this is the the move to be even more relevant to enterprise customers by having the relevant integration. Secondly, very important, drive use case innovation. As you know, we continuously improve our product and we really try to put the customer at the center of innovation. One thing was that we bundled Tensor with a remote access license, which I mentioned before. So that was the way to really roll out home working solution very quickly. Other improvements included the update of pilots, which is the augmented reality product. We are among the first applications to leverage the new iPad Pro LIDAR scanner, for example, for enhanced accuracy of the distance and the measurements. So that's really if you see a situation through others, through the camera of somebody else, that you have the most exact view of the world around you in order to be able to help that technician in the field as best as possible. And, of course, strengthening the innovation and development capacity is anyway a very important focus for us in 2020. And in that sense, we're also screening the market for interesting technology acquisitions. We hired lots of people. We built out our R&D force. It's now 286 FTEs. We also strengthened our IoT team by hiring a new leader and more dedicated salespeople. And lastly, the geographic expansion. As you know, we've opened the APEC offices. That continues to be very successful, especially Japan during the recent months has been very good development. But also our U.S. enterprise sales team is a big initiative now. You remember that we said we hired a good amount of enterprise sales people for EMEA. And we said in the next phase we will do that also for the Americas, especially the U.S., and we started to do so, and the first people that are on board are now also being productive and bringing in deals, as you have seen on the list that I showed before. If we turn the page, go to the next page nine, I think before I hand over to Stefan, just generally speaking a little bit how we have positioned ourselves in these Challenging and uncertain time. I think clearly first priority for all of us was the well-being of our employees and business partners. That always comes first. And, of course, we've implemented very strict hygiene and safety guidelines. This also included very early on a group-wide working from home policy as well as travel bans. So we started with travel bans. Then we had to put people in the home efforts in China, so Shanghai office. Then the same rolled over into Japan and also Adelaide. And then as the pandemic continued, we were rolling this out across the globe. Clearly, as the pandemic continues, we remain alert and we adjust our measures constantly. So far, we could largely avoid infections, for which we are very grateful, really. I think the fast action taking paid off. And it's also, I think, important to see that the organization, our people, employees have done a very, very good job in these very challenging times. So imagine, of course, other companies have more hardship to carry than we do, but we had a significant increase in customer requests, both in sales and in service, at the same time when we had to send everybody home to work from their computers in all departments. And I think there was significant effort by the company and very high commitment, and that helped us to actually navigate through the crisis quite well with, on the one hand, protecting our organization and our people, but also run the business, serve our customers and bring business in, really. What was also important, of course, is many customers were turning to us to increase capacity and also many, many free users needed the product to be able to connect. You might remember that very early on we told the free users that we will be very relaxed in assessing commercial use. In fact, after a while we decided to completely allow any personal use and not check whether it could potentially be business use. That has increased, of course, the number of connections, has also increased the load on our systems. So in parallel to everything else which we had to do, we also had to boost our routing capacity, both for the video conferencing part, so the Blizz product, but also for the TeamViewer core part. And we've been able to do that in parallel to everything else that was going on. We also saw some significant extra requests for our video collaboration product and we also found basically through personal experience that schools, universities around us are not in a great position to provide for homeschooling solutions and we decided very quickly to make our Blitz product available for free for schools and universities and we saw a good pick up there and we were also supporting that. In turn we also had to increase our router capacity. And last but not least, now a bit later in the crisis, of course in quite some markets we do see customers having issues with payments. asking us for more relaxed payment terms or installments. And we try to be as responsive as possible, depending on market and segment to make sure that we keep our customers happy and adjust our processes to the needs of customers and society. So, and we hope that with all these measures, we could show to our customers and free users that we do care and that we try to do the best we can to help and at the same time run a business and grow the business, of course. And last but not least, of course, thanks to the good start, we built extra cash, extra cash position. We were able to ramp down the leverage faster than we thought. We further diversified our business. And therefore, we believe we are very well positioned for the year to come and the future. I think all in all, everything we did and everything that happened in Q1 confirms our strategy, gives us confidence that we can overachieve our target. Stefan is going to talk about it for 2020. And I'd now like to hand over to Stefan, who will lead you through the financials and the outlook in more detail.