A Teramind user is a employee that is tracked by the Teramind Agent. An endpoint is a device, such as a Windows PC, Mac or a Windows Server (not a Terminal Server/Host. Teramind has a different licensing model for a Terminal Servers).
Teramind is licensed on a per user basis for the Cloud offering and per endpoint basis for the On-Premise and Private Cloud offerings.
Here's how it works:
On the On-Premise/Private Cloud deployment, it does not matter how many users you have on each computer, Teramind will charge you only for the number of computers and not the users. For example, say, you have 2 employees: employee-1 and employee-2 and 2 computers: pc-1 and pc-2. When employee-1 logs in on pc-1 and employee-2 logs in on pc-2 then you'll see 2 users on your Teramind Dashboard: employee-1@pc1 and employee-2@pc2. In this case, you have 2 employees on 2 endpoints, making 2 licenses used.
Now imagine, employee-1 logs in on pc-2 you will see a third endpoint named employee-1@pc-2 on your dashboard. In this last example, you have 3 users but they are using only 2 computers or endpoints. Under the Cloud offering, you will need 3 licenses for the 3 users. But if you choose the On-Premise/Private Cloud deployment, you will only need 2 licenses for the endpoints.