LogMeIn Responds to Short Thesis
In light of a recent report that came out with a short thesis on LogMeIn (LOGM), we would like to highlight the following six points:
1. LogMeIn has been gaining IT management customers, not losing them in recent quarters.
2. LogMeIn management has stated that join.me is expected to grow triple digits in 2014.
3. LogMeIn management has stated that BoldChat is performing very well and is geared toward mobile customer engagement.
4. AppGuru is a highly differentiated solution for Bring Your Own App/Device (BYOA/D) from “Me Too” and other Remote Monitoring and Management (RMM) solutions. Furthermore, AppGuru is geared toward our Central customer base.
5. Not taken into account when evaluating LogMeIn, is the potential of Xively and the Internet of Things (IoT) market.
6. Since our first publicly reported quarter, we have always calculated our renewal rates in the same manner, add on sales do not factor into our renewal rate.
We look forward to providing further information on our conference call on July 24th at 5pm.