update.me – collaboration, innovation, and engagement

Week of May 1, 2015

Step one: Have big idea. Steps 2-5: develop, test, launch, market, sell. Step 3: Make millions! This series of events probably sounds familiar to all the innovators and startup founders out there. But a great majority of the time, moving past step one poses huge challenges, not to mention huge personal risks. Most big ideas never get off the ground.

We were excited to read the article in TechCrunch this week encouraging employees to pitch “virtual startups” to their bosses, gaining internal support to develop and test their latest innovation. This is a core value at LogMeIn – to support the ideas and innovations of our very creative and smart employees. It’s how join.me was born, and how join.me’s new Video beta app was first developed. A tech company’s greatest resource  is their diversely talented, creative employees. Big ideas can come from anywhere, so encourage development within your company, across all levels and departments.

05_01_updateme_tech crunch [1]Consider Pitching a Virtual Startup to Your Boss
It’s not rare for employees in tech to come up with big ideas and innovations that might not fit their day jobs. Many innovators reach that crossroads, before they branch of to become startups. TechCrunch gives an interesting perspective on how to foster and develop your next innovation, within your current company.

Tags: #startup #innovation
Follow:  @techcrunch

 

05_01_updateme_videobetaIntroducing join.me Video Beta – Let the Ideas Bubble Up
Ok, we know, shameless plug. But this is really exciting news, as join.me dives into the video collaboration space! Read this blog post from our Vice President of Products Craig Daniel on why we made this move, and how to test out join.me video yourself. Please  let us know what you think!

Tags: #videoconferencing #beta
Follow: @joinme

 

 

05_01_updatemeTJUnexpected Business Benefits of Collaboration
Companies are moving toward a more collaborative style, and are seeing unexpected benefits arise. Among these are a role focused (rather than task focused) style, and revitalized innovation as employees work together in new groups and challenge each other.

Tags: #collaboration #futureofwork
Follow: @trainingjournal

 

 

May_1_JM_Blog_200x200Flexible Working Revolution Gathers Pace
New data shows that flexible work options are trending in the UK, with company standards changing rapidly. Remote work amongst UK companies has increased by over a third in just three years, while half of all employers in London plan to expand their remote work opportunities in the next three years.

Tags: #futureofwork #virtualwork
Follow: @onrec

         

[CASE STUDY] PRO HELPS BROOMFIELD SUPPORT CUSTOMERS ACROSS THE WORLD

It’s been five years since Broomfield Labs began using LogMeIn Pro and in that time, the company significantly grew its business worldwide while upholding a reputation for superior customer support. The Massachusetts-based design and manufacturing lab has been able to keep and add new customers on six continents with Pro’s reliable and easy-to-use remote access.

Broomfield originally wanted to use Pro to allow employees to work from home for weather or medical-related reasons. After using the platform, they realized the benefits that remote access can also offer to their customers, typically located in another state or even another country. With Pro, Broomfield is now able to support customers without the travel expenses of sending a technician or the shipping costs to send machines in for repairs.

“I can’t overstate the value of being able to troubleshoot and service machinery without having to travel to a customer site to do so. For Broomfield, LogMeIn Pro translates into lower travel costs and more productive use of our time.

– Tim Marston, Electrical Design and Service, Broomfield Laboratories

Beyond troubleshooting issues, Pro’s remote access gave Broomfield the ability to perform routine software updates on remote machines to stay ahead of potential problems. Not only did this result in faster support for clients, but also increased customer satisfaction.

Click here to view the complete case study about Broomfield Labs or check out the Slide Share below.

         

Tip Tuesday – Simple Scheduling for Your Next Meeting

In today’s globally diverse workplace, we’ve all experienced the woes of meeting scheduling: calculating different time zones, last-minute conflicts, and unexpected cancellations. In this week’s Tip Tuesday, we’ll show you how join.me makes scheduling your next meeting easier than ever, working directly from the join.me app or with one of our plug-ins.

With the join.me scheduler, you can organize and set up your next meeting directly through the join.me app. You can select and send the appropriate dial-in numbers to all meeting participants, and keep track of all your past and upcoming meetings. Check it out:

Are you an Outlook user? We offer a seamless integration to instantly schedule your next join.me meeting right from Outlook. Click here to learn how to download and use the plug-in.

If you use Google calendar, join.me has a plug-in for that too! Watch this video to learn how to download and use the extension for your next meeting.

For all join.me user tips and tricks, check out our full YouTube playlist.

 

 

         

LogMeIn Announces First Quarter 2015 Results

25% Revenue Growth; 21% Adjusted EBITDA margin; $40.0 million in operating cash flow; Increases FY’15 Revenue and Non-GAAP EPS Guidance

Boston, April 28, 2015LogMeIn, Inc. (NASDAQ: LOGM), a leading provider of cloud based connectivity, today announced its results for the first quarter ended March 31, 2015.

First quarter 2015 highlights include:

  • Revenue was $61.1 million, up 25% compared with the first quarter of 2014
  • Adjusted EBITDA was $12.6 million and Adjusted EBITDA margin was 20.5% versus $9.9 million and 20.1% in the first quarter of 2014
  • Non-GAAP net income was $8.5 million, or $0.33 per diluted share, as compared to $5.5 million, or $0.22 per diluted share, in the first quarter of 2014
  • GAAP net income was $372,000 or $0.01 per diluted share, as compared to GAAP net income of $1.0 million, or $0.04 per diluted share, in the first quarter of 2014
  • Cash flow from operations was $40.0 million, an increase of 64% from $24.4 million in the first quarter of 2014 and 65% of revenue in the first quarter of 2015
  • Total deferred revenue was $128.6 million, up 22% from $105.3 million in the fourth quarter of 2014
  • The Company closed the quarter with cash, cash equivalents and short-term investments of $232.5 million

“We had another very strong quarter and a great start to the year,” said Michael Simon, CEO and Chairman of LogMeIn.  “Solid execution across our Collaboration, IT Management and Service Cloud businesses helped deliver revenue and earnings per share that exceeded the high-end of our guidance. And we delivered exciting new innovation across our product set, which we believe will help us increase our positions in our core markets, drive continued growth, and maximize shareholder value.”

Business Outlook   

Based on information available as of April 28, 2015, the Company is issuing guidance for the second quarter 2015 and fiscal year 2015.

Second Quarter 2015:  The Company expects second quarter revenue to be in the range of $63.7 million to $64.2 million.

Adjusted EBITDA is expected to be in the range of $13.6 million to $13.9 million.

Non-GAAP net income is expected to be in the range of $8.1 million to $8.4 million, or $0.32 to $0.33 per diluted share.  Non-GAAP net income excludes an estimated $6.1 million in stock-based compensation expense, $300,000 in litigation related expense, and $2.0 million in acquisition related costs and amortization.

Non-GAAP net income for the second quarter assumes an effective tax rate of approximately 30 percent. Non-GAAP net income per diluted share for the second quarter of 2015 is based on an estimated 25.5 million fully-diluted weighted average shares outstanding.

Including stock-based compensation expense, litigation related expense, and acquisition related costs and amortization, we expect to report a GAAP net income in the range of $2.5 million to $2.9 million, or $0.10 to $0.11 per share.

GAAP net income for the second quarter assumes an effective tax rate of approximately 15%. GAAP net income per share for the second quarter of 2015 is based on an estimated 25.5 million weighted average shares outstanding.

Fiscal year 2015:  The Company expects full year 2015 revenue to be in the range of $262 million to $265 million.

Adjusted EBITDA is expected to be in the range of $58.0 million to $61.0 million.

Non-GAAP net income is expected to be in the range of $34.6 million to $36.6 million, or $1.36 to $1.44 per diluted share. Non-GAAP net income excludes an estimated $26.2 million in stock compensation expense, $5.4 million in litigation related expense, and $8.1 million in acquisition related costs and amortization.

Non-GAAP net income for the full fiscal year 2015 assumes an effective tax rate of approximately 30%.  Non-GAAP net income per diluted share for 2015 is based on an estimated 25.5 million fully-diluted weighted average shares outstanding.

Including stock compensation expense, litigation related expense, and acquisition related costs and amortization, we expect to report GAAP net income in the range of $9.2 million to $11.7 million, or $0.36 to $0.46 per diluted share.

GAAP net income for the full year assumes an effective tax rate of 15%.  GAAP net income per share for 2015 is based on an estimated 25.5 million weighted average shares outstanding.

A reconciliation of the most comparable GAAP financial measures to non-GAAP measures used above is included in the tables attached to this release.

Conference Call Information for Today, Tuesday, April 28, 2015

The Company will host a corresponding conference call and live webcast at 5:00 p.m. Eastern Time today.  To access the conference call, dial 888-510-1765 (for the U.S. and Canada) or 719-325-2361 for international callers) and enter conference ID 3826007.  A live webcast will be available on the Investor Relations section of the Company’s corporate website at www.LogMeIn.com and via replay beginning approximately two hours after the completion of the call until the Company’s announcement of its financial results for the next quarter.  An audio replay of the call will also be available to investors beginning at approximately 8:00 p.m. Eastern Time on April 28, 2015 until 8:00 p.m. Eastern Time on May 6, 2015, by dialing 888-203-1112 (and entering passcode 3826007).

Non-GAAP Financial Measures

This press release contains non-GAAP financial measures including adjusted EBITDA, adjusted EBITDA margin, non-GAAP operating income, non-GAAP income before provision for income taxes, non-GAAP provision for income taxes, non-GAAP net income, non-GAAP net income per diluted share and non-GAAP cash flow from operations.

Adjusted EBITDA is GAAP net income excluding provision for income taxes, interest income, and other income, net, depreciation and amortization, acquisition related costs, stock-based compensation expense, and litigation related expense.  Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by revenue.  Non-GAAP operating income excludes acquisition related costs and amortization, stock-based compensation expense, and litigation related expense. Non-GAAP provision for income taxes excludes the tax impact of acquisition related costs and amortization, stock-based compensation expense, and litigation related expense. Non-GAAP net income and non-GAAP net income per diluted share exclude acquisition related costs and amortization, stock-based compensation expense, and litigation related expense. Non-GAAP cash flow from operations excludes payments and receipts related to litigation related costs, and acquisition related payments.

The exclusion of certain expenses in the calculation of non-GAAP financial measures should not be construed as an inference that these costs are unusual or infrequent. We anticipate excluding these expenses in the future presentation of our non-GAAP financial measures. The Company believes that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to the Company’s financial condition and results of operations. The Company’s management uses these non-GAAP measures to compare the Company’s performance to that of prior periods and uses these measures in financial reports prepared for management and the Company’s board of directors. The Company believes that the use of these non-GAAP financial measures provides an additional tool for investors to use in evaluating ongoing operating results and trends and in comparing the Company’s financial measures with other software-as-a-service companies, many of which present similar non-GAAP financial measures to investors. The Company does not consider these non-GAAP measures in isolation or as an alternative to financial measures determined in accordance with GAAP. The principal limitation of these non-GAAP financial measures is that they exclude significant elements that are required by GAAP to be recorded in the Company’s financial statements. In addition, they are subject to inherent limitations as they reflect the exercise of judgment by management in determining these non-GAAP financial measures. In order to compensate for these limitations, management of the Company presents its non-GAAP financial measures in connection with its GAAP results. The Company urges investors to review the reconciliation of its non-GAAP financial measures to the comparable GAAP financial measures, which it includes in press releases announcing quarterly financial results, including this press release, and not to rely on any single financial measure to evaluate the Company’s business.

Reconciliation tables of the most comparable GAAP financial measures to the non-GAAP measures used in this press release are included in this release.

About LogMeIn, Inc.

LogMeIn, Inc. (NASDAQ:LOGM) simplifies how people connect to each other and the world around them.  With millions of users worldwide, our cloud-based solutions make it possible for people and companies to connect and engage with their workplace, colleagues, customers and products anywhere, anytime. LogMeIn is headquartered in Boston with offices in Bangalore, Budapest, Dublin, London, San Francisco and Sydney.

Cautionary Language Concerning Forward-Looking Statements

This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the popularity, value and effectiveness of the Company’s products and services, the Company’s ability to deliver future growth, expanded market position or shareholder value, the success of and demand for the Company’s new and existing products and services, the Company’s investment in new products and markets, and the Company’s financial guidance for fiscal year 2015 and the second quarter of 2015. These forward-looking statements are made as of the date they were first issued and were based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which involve factors or circumstances that are beyond the Company’s control.  The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, dependence on the remote support and software market, customer adoption of the Company’s solutions, the Company’s ability to attract new customers and retain existing customers, adverse economic conditions in general and adverse economic conditions specifically affecting the markets in which the Company operates, the inherent risks and uncertainties of pending litigation, the Company’s ability to continue to promote and maintain its brand in a cost-effective manner, the Company’s ability to compete effectively, the Company’s ability to develop and introduce new products and add-ons or enhancements to existing products, the Company’s ability to manage growth, the Company’s ability to attract and retain key personnel, the Company’s ability to protect its intellectual property and other proprietary rights, and other risks detailed in the Company’s other publicly available filings with the Securities and Exchange Commission. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its views to change.  The Company undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.

LogMeIn, LogMeIn Central, LogMeIn Pro, LogMeIn Rescue, join.me, Cubby, AppGuru, Xively, Meldium and BoldChat are trademarks or registered trademarks of LogMeIn in the US and other countries around the world.

earnings1

earnings2

earnings3earnings4earnings5

earnings6earnings7

         

[Infographic] Where Contact Centers Are Missing the Mark with Customer Care

Sometimes it’s easier to visualize survey data in infographic-form, which is how we compiled the results of a recent Ovum study. This infographic includes survey data from both customers and contact center managers about channel preferences. Listed below are a few highlights from this data.

Most alarming (but perhaps not surprising) is that 76% of customers have stopped doing business with a company following a bad experience. This should serve as a wake up call for businesses that have not yet optimized channel usage to meet customers’ support expectations.

Another takeaway is that 43% of customers surveyed find automated telephone systems annoying. Frankly, that number is low. Are there really that many people  who don’t find automated telephone system annoying? When a customer needs support quickly, they’re often looking for some form of human contact to resolve their problem quickly. (Is there anyone else out there who’s yelled, “I just want to talk to someone!” at the voice response system?)

Live chat is an increasingly important channel for supplying that human contact. In the past two years, the number of customers surveyed who would use live chat as a support channel has doubled, increasing from 14% to 28%.

Customers seek personalization, which live chat provides. Meanwhile, the help desk is looking for greater efficiency, and with live chat, support agents can easily handle multiple customer issues simultaneously without the customers feeling ignored or abandoned.

Download a full copy of the research report or view some highlights from the infographic embedded below.

LogMeIn Ovum Infographic

         

Introducing the join.me Video Beta – Let the ideas bubble up!

Our philosophy behind join.me has been the same since we started – make online meetings simple and easy. Let people share ideas instantly. So we made it a pleasure to meet online. No downloads for people who join. Let you start in seconds. And let you use it for free. We started a revolution in the online meeting space that continues today.

And as we have added new features to join.me, we’ve always gotten the same request from our users – please keep it simple and easy to use.

So when it came to delivering video conferencing, we wanted to apply the same philosophy. It was not just about enabling the ability for people to stare at each other on their screens. We had to rethink how to enable people to interact visually.  When people get together, it is not an opportunity to stare each other – but an opportunity to collaborate. An opportunity to share new ideas and interact.

jm_video_6

So it is with great pleasure that today we introduce the join.me video beta. It’s a different approach on video conferencing. Not so rigid as some other solutions. But something we hope is as simple, delightful, and intuitive as the join.me that tens of millions of users have come to know and love over these past few years. With the join.me video beta, we introduce our join.me video bubblesTM. Simple, light, floating visual images of you and the people you are meeting with. They float. They bounce. Go ahead, grab a bubble and play with it. Move it around the screen. Even bounce them into each other. We wanted to let you have a little fun while you interact in an experience you will remember.

And we’re introducing it in a way so that we could get feedback from the most important people we know – our users. We want your feedback as you use it. What works for you? And what doesn’t? When it comes to collaboration, we enjoy collaborating with our users. Because every day, our goal is to provide a simple and delightful experience for everyone using join.me.

To try the join.me video beta, just click the “Join beta” prompt:

KB article update flow v2

This is just the beginning. You can expect weekly updates with new features, new interactions, and bug fixes, of course. Have a question, an issue, or just some positive feedback? Post it on Twitter to @joinme, share feedback, or send us an email to video@join.me. We love hearing from you.

Try it out.  With one person. With your whole team. And lets us know what ideas ‘bubble’ up.

         

update.me – collaboration, innovation, and engagement

Week of April 24

The collaboration landscape is ever-changing. In today’s workplace employees are using whatever devices and apps that are going to help them be more productive. With the advances made in consumer IT, employees looking to gain the benefits of more agile virtual meetings and avoid the headache of using traditional web conferencing tools have already turned to their own devices. The articles below are just a few that have been published over the past few weeks that focus on workplace collaboration, expectations of the increasingly mobile workforce and video conferencing.

CIO_updateme_200x2006 IT leaders share tips to drive collaboration
Collaboration tools are destined to fail when IT leaders look to solve problems that don’t exist. Here’s how CIOs and IT managers ensure their collaborative platform efforts aren’t futile. This article discusses three ways CIOs can ensure success.

Follow: @CIOonline
Tags #collaboration

 

 

3.24.fortuneMeeting Expectations of the Collaborative, Mobile Workforce
Demand for ad hoc meetings is being driven by the rise of Generation Y in the workplace. As a growing part of many organisations, they’ve come to expect constant communication and instant connectivity, so waiting around for a meeting is avoided at all costs. Instead they prefer on-the-spot collaboration as a means to save time and money, and be more efficient.

Follow:@freshbusiness
Tags: #mobile #mobilemeetings

 

3.24.cioinsightsWith cloud video conferencing, the sky’s the limit
Research tells us this: Video conferencing is really moving to the cloud. According to the Nemertes Research 2014-15 Enterprise Technology Benchmark, which gathered data from approximately 180 companies, nearly 30% of companies have already implemented cloud-based video conferencing services and another 2% plan to do so in 2015. This article explores the factors driving video conferencing adoption.

Follow: @SearchUC
Tags: #videoconferencing

         

Tip Tuesday- All About join.me Audio

Do you know what day it is? Tuesday! This means it’s time for our weekly “Tip Tuesday” blog covering all the essentials of using join.me. Productive meetings are all about getting everyone on the same page and one of the ways you can ensure your meeting goes as planned is to make sure your audio conference is optimized.

This week we are sharing two videos that cover the basics of audio conferencing.Need a quick tutorial on starting audio? Start with “Get Started with join.me Audio”:

Interested in getting the lowdown on how to choose hold music or change your default audio settings? Check out “Awesome Audio” video on our YouTube channel here.

         

BoldChat’s Latest Release Enhances Testing & Reporting Capabilities

We’re excited to announce a new release of BoldChat that includes features designed to provide businesses with greater control of their BoldChat implementation. Our new capabilities enable companies to not only engage more closely with their customers, but also to manage, test, and report on those engagements in a meaningful way to drive their business forward.

BoldChat’s new Chat Experiment Engine allows companies to test multiple variations of buttons, windows, invitations, and invite rules or rulesets simultaneously. With multi-dimensional segmentation variables – first time vs. repeat, geo-location, device, page or referrer URL, etc. – and defined control group sizes and durations, businesses have the tools they need to gain valuable insight into their chat strategy and optimize for improvement.

Chat Experiment Report

In addition to the Experiments feature, this release also includes:

  • Mobile Routing – allows chat traffic to be routed or prioritized based on whether or not the visitor is using a mobile device
  • Email Grid Enhancement – ability to view information about queue time for emails
  • New Reports
    • Experiment Summary – provides a quick comparison to see how visitors responded to items in your experiment versus the control (current deployment)
    • Experiment Detail– provides advanced insight into the results of an experiment
    • Email Time to Respond – measure and analyze how long it takes operators to respond to an email
    • Average Time in Queue – measure and analyze how many chats were queued for various amounts of time before being assigned

Contact us to learn more!

 

         

Turn support into a friendly experience

800x300

When customers first make a purchase, they’re happy. But when your support technicians hear from these customers, the mood has shifted. They’ve got a problem; they’re annoyed and frustrated and maybe even angry. Whatever’s happening on their end, they’re likely thinking that their problem is your fault.

Whoever’s at fault, your support technicians are the ones responsible for bringing your customers back to feeling positive about your company. That won’t happen if the attitude they’re conveying is impatient, accusatory, or if they are more interested in quickly closing out a ticket or casting blame onto someone else.

It’s not always easy for support technicians to stay positive. That annoyed, frustrated, and angry customer may be paying little or nothing for support, and you’ve got a budget to worry about. Furthermore, that customer’s problem may have no direct connection to your product or service whatsoever. No team or company is capable of supporting every conceivable issue; to attempt to do so would be an exercise in futility.

How, then, can one optimize the effectiveness of customer support?

First things first: try to figure out what the cause of the problem (even if you know it’s not your fault). Try to engage the customer on a personal level and help him or her solve the problem, even if you quickly ascertain that your product or service is not at fault.

Your organization will make a more positive impact if your support team can suggest a solution, provide the customer with helpful steps to follow, or identify right party to contact, rather than dismissing their request altogether.

If the problem is related to your product or service, the questions you’re asking or the directions you’re giving may increase the customer’s frustration and annoyance level, rather than alleviating it. A remote support tool that enables you to take over the customer’s computer so that you can see what they’re seeing, and show them how you’re making a fix, can make a world of difference. Better yet if that remote support tool has video capabilities, your technicians will be able to diagnose and resolve issues without having to rely on inefficient (and often erroneous and incomplete) verbal and written descriptions of what’s going on.  This lets you see problems that your customers might not have noticed.