Bisera Grubesic
Vice President of Investor Relations

Good morning, ladies and gentlemen, and welcome to TeamViewer's Q1 2026 Earnings Call. I am Bisera Grubesic, Head of IR here at TeamViewer. And today, I am joined by our CEO, Oliver Steil; CFO, Michael Wilkens; and CRO, Mark Banfield. Oliver and Mark will run you through the quarterly business update, and Michael will present Q1 financials. The presentation will be concluded by a Q&A session.

As per usual, kindly note that you can find the important notice and the APM disclosure on Slides 2 and 3. And with this, I hand it over to Oliver to kick off our presentation.

Oliver Steil
Chairman of the Management Board & CEO

Thank you, Bisera. Good morning, everyone. Also welcome from my side. Thank you for joining us today. 2026 is the year of delivery and Q1 was the first proof point. Top line was broadly stable and profitability was strong as expected. The building blocks for acceleration in the second half are firmly in place, and we are reaffirming our full year 2026 guidance.

The 2 effects that moderated our Q1 results, the one-off 1E customer churn and our SMB course corrections have been shaping out as flagged in February. Good visibility gives us