LogMeIn to Present at the RBC Technology, Internet, Media and Telecommunications Conference

On November 11, 2015, LogMeIn’s President & COO, Bill Wagner, will be attending the RBC Technology, Internet, Media and Telecommunications Conference at the Westin Times Square, in New York. Details around the session are as follows:

RBC Technology, Internet, Media and Telecommunications Conference

  • Date: Wednesday, November 11, 2015
  • Remarks:  9:20am ET
  • Location: Westin Times Square, 270 W. 43rd Street, New York, NY
  • Attendees: Bill Wagner, President & COO

The presentation will be webcast live on the investor relations section of the company’s website at https://investor.logmeininc.com/and will be available for 90 days after the live presentation. For more information, please contact me at 781-897-1301 or rbradley@LogMeIn.com

 

         

LOGMEIN ANNOUNCES Q3 2015 RESULTS; RAISES 2015 REV, EPS GUIDANCE

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Today, LogMeIn announced financial results for the third quarter of 2015. We’re pleased to report another very good quarter with revenue and earnings per share that exceeded the high-end of our guidance.  We believe these strong Q3 results and key progress on our strategic growth initiatives have put us in a favorable position to execute on our near and longer-term goals. As a result, we are raising our revenue and earnings guidance.  You can get the full release on our investor site, but here are some highlights and color on what was a strong Q3:

Third quarter 2015 financial highlights:             

  • Revenue was $69.6 million, up 20% compared with the third quarter of 2014
  • Adjusted EBITDA was $19.4 million and adjusted EBITDA margin was 27.9%, versus $13.3 million and 22.9% in the third quarter of 2014
  • Non-GAAP net income was $11.9 million, or $0.46 per diluted share, as compared to $8.1 million, or $0.32 per diluted share, in the third quarter of 2014
  • GAAP net income was $5.6 million, or $0.22 per diluted share, as compared to GAAP net income of $2.3 million, or $0.09 per diluted share, in the third quarter of 2014
  • Non-GAAP cash flow from operations was $14.2 million and 20% of revenue in the third quarter of 2015
  • Total deferred revenue was $137.0 million, up 33% year-over-year
  • The Company closed the quarter with cash, cash equivalents, and short-term investments of $245.7 million

A webcast with more details is also available on the Investor Relations section of the Company’s corporate website at www.LogMeInInc.com (it will be available 3 hours after the completion of the call; approximately 8:30-9 pm ET this evening).

Some color on Q3 2015:

At the start of the year, we declared three key strategic growth initiatives for 2015:

  • Expanding join.me’s collaboration opportunity
  • Helping IT deliver the security and productivity needed in an app and cloud-centric world
  • And delivering offerings that help companies connect, manage, and engage with their customers in the Internet of Things era

We’re happy to report what we believe to be great progress on all three initiatives to complement the continued strong performance of our overall business, today.

Our collaboration business was our fastest growing business in the third quarter. join.me continues to be our fastest growing product and the company’s single biggest driver of growth.

Our IT management business delivered another solid quarter with growth in line with overall company growth.  And two weeks ago, we announced the acquisition of LastPass, creating a key extension of our portfolio which we believe will have both a positive effect on our long term growth, while also helping to accelerate our leadership position in the identity and access management market. Just as join.me has been the key growth engine for our collaboration business, we believe LastPass will become a key new growth driver for our IT management business.

Our service cloud business – a highly profitable business with great margins and cash flow — continued to generate revenue growth in the mid-single digit percentage range during the third quarter, consistent with the first half of 2015. Rescue, the largest contributor to our service cloud business, has long been the remote support offering of choice for the world’s best technology companies and market leaders in virtually every segment.  This trend and enviable customer list continued to grow in Q3. It was also a very good quarter for BoldChat, with year-over-year percentage revenue growth for this product line above the overall company growth rate. Key wins for BoldChat in the quarter included two of North America’s top telco and internet service providers – one of which was the largest BoldChat deal ever.

The third quarter was also an important one for our Xively Internet of Things business. During the quarter, there were several key events that helped raise the visibility of LogMeIn as a critical player in the IoT – and one distinguished with meaningful early customer traction. And while the IoT is still in its infancy, we believe that our increasing profile, great platform, and early customer traction have put us in a favorable position to capitalize on a large, longer-term opportunity.

New partnerships announced by Salesforce, Splunk and AWS highlighted the important role Xively is playing in today’s IoT ecosystem. At Salesforce’s annual Dreamforce event, Xively customers took center stage at the event’s highly publicized “IoT Zone.” In fact, 6 of the 8 companies included in the Dreamforce IoT customer showcase were joint Xively and Salesforce customers. And earlier this month, those customers, along with 300 c-level executives, press, analysts and partners joined us in Boston for Xperience 2015, our own inaugural IoT event, an event that generated significant media and analyst coverage, as well as a huge amount of buzz on social media.

All in all, it was another strong quarter for LogMeIn. Our core businesses continue to deliver strong top and bottom line results and we believe that our continued progress on our strategic growth initiatives have positioned us favorably for Q4 and beyond.

         

LogMeIn to Acquire Password Management Leader LastPass

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Today we’re pleased to announce that LogMeIn has agreed to acquire LastPass (incorporated as Marvasol, Inc.), the popular single-sign-on (SSO) and password management service.  A high growth business with millions of loyal users and an award winning product line, LastPass will immediately bolster LogMeIn’s position in the multi-billion dollar identity and access management (IAM) market, while accelerating one of the company’s key strategic growth initiatives. The deal is expected to close in the coming weeks.

The future identity market is being shaped by realities that come from end-user driven adoption of cloud, web and mobile apps – the bring-your-own-app (BYOA) trend — and increasingly decentralized approaches to managing identity in the workplace.   Seventy (70) percent of companies report using employee-introduced applications (as opposed to IT introduced and company procured applications) in the workplace.[1]  This is especially relevant to IT professionals and businesses since eighty (80) percent of cloud applications and services contain sensitive regulated or company confidential data.[2] Meanwhile, approximately two-thirds (64 percent) of internet users use the same passwords for most or all websites.[3]

LogMeIn is building a product and go-to-market strategy that embraces this BYOA reality and introduces new ways to help individuals and businesses secure access to sensitive information.  The LastPass acquisition is expected to play a key role in this effort, is highly complementary to LogMeIn’s existing identity portfolio, and offers a natural extension to LogMeIn’s leadership position in the access market.

“LastPass has a great business, a beloved and award winning product, millions of loyal users, and thousands of great business customers – they are synonymous with the category,” said Michael Simon, LogMeIn’s Chairman and CEO. “We believe this transaction instantly gives us a market leading position in password management, while also providing a highly favorable foundation for delivering the next generation of identity and access management solutions to individuals, teams and companies.”

Following the close of the deal, LogMeIn plans to bring complementary capabilities of its early identity management investments, including those of Meldium, which it acquired in September 2014, into LastPass.  In the near-term, both the Meldium and LastPass product lines will continue to be supported, with longer-term plans to center around a singular identity management offering based on the LastPass service and brand.

“LogMeIn and LastPass share a great common vision on reshaping identity and access management in ways that not only increase productivity but also improve security for individuals and companies, alike,” said Joe Siegrist, CEO of LastPass. “The striking commonality between our businesses, our products, and cultural DNA make this a great fit for both teams, and we believe a great win for our customers.”

Transaction Details

Under the terms of the transaction, LogMeIn will pay $110 million in cash for all outstanding equity interests in LastPass upon close, with up to an additional $15 million in cash payable in contingent payments expected to be paid to equity holders and key employees of LastPass upon the achievement of certain milestone and retention targets over the two-year period following the closing of the transaction.

Conference Call Information

LogMeIn will host a conference call to discuss the details of the transaction at 8:30am ET, today, Friday, October 9, 2015. Details as follows.

What: Conference call and live webcast to discuss LogMeIn’s acquisition of LastPass

When: Friday, October 9, 2015

Time: 8:30 a.m EDT

Live call: Dial In: 877-407-9124

Dial In (International): 201-689-8584

Replay Number: 1-877-660-6853

Replay Number (International): 1-201-612-7415

 Conference ID # for replay: 13621996

Webcast: https://investor.logmeininc.com

 

[1] Managing applications in the age of BYOA, Edge Strategies, April 2014

[2] Password security in a cloudy world, Enterprise Strategy Group and LogMeIn, 2015

[3]  Ofcom Adults’ media use and attitudes report, 2015

         

LOGMEIN SETS DATE TO ANNOUNCE THIRD QUARTER 2015 RESULTS

BOSTON –October 5th, 2015 – LogMeIn, Inc. (NASDAQ:LOGM) today announced that it will report its third quarter 2015 financial results for the period ended September 30, 2015 following the close of market on Thursday, October 22nd, 2015. On that day, management will hold a conference call and webcast at 5:00 p.m. ET to review and discuss the Company’s results for the third quarter.

  • What: LogMeIn Third Quarter 2015 Financial Results Conference Call
  • When: Thursday, October 22nd, 2015
  • Time: 5:00 p.m. ET

Live Call:    

  • + 1-877-407-9124 (U.S.)
  • + 1-201-689-8584 (International)

Replay: 

  • + 1-877-660-6853 (U.S.)
  • + 1-201-612-7415 (International)
  • 13620839 (Conference ID)

Webcast:         https://investor.logmeininc.com

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.

         

LogMeIn to Present at the 6th Annual Credit Suisse Small & Mid Cap Conference

On September 17, 2015, LogMeIn’s President & COO, Bill Wagner, will be attending the Credit Suisse Small & Mid Cap Conference at the Waldorf Astoria in New York. Details around the session are as follows:

6th Annual Credit Suisse Small & Mid Cap Conference

  • Date: Thursday, September 17, 2015
  • Location: The Waldorf Astoria New York, 301 Park Avenue, New York City
  • Attendees: Bill Wagner, President & COO

For more information, please contact me at 781-897-1301 or rbradley@LogMeIn.com

         

LogMeIn to Present at the Deutsche Bank Technology Conference

On September 16, 2015, LogMeIn’s CFO, Ed Herdiech, and VP of Investor Relations, Rob Bradley, will be attending the Deutsche Bank Technology Conference at the Cosmopolitan of Las Vegas. Details around the session are as follows:

Deutsche Bank Technology Conference

  • Date: Wednesday, September 16, 2015
  • Location: The Cosmopolitan, 3708 Las Vegas Boulevard South, Las Vegas, NV
  • Attendees: Ed Herdiech, CFO, and Rob Bradley, VP of Investor Relations

For more information, please contact me at 781-897-1301 or rbradley@LogMeIn.com

         

LogMeIn Announces Management Succession Plan

William R. Wagner to Succeed Michael K. Simon as Chief Executive Officer; Simon to Remain as Chairman of the Board

BOSTON, September 2, 2015 – LogMeIn, Inc. (Nasdaq:LOGM) today announced that its Board of Directors has approved a succession and transition plan for the company’s chief executive officer (CEO) position.  Effective at the end of 2015, Michael K. Simon, the company’s co-founder and CEO for the past 12 years, will step down as CEO. He will be succeeded as CEO by William “Bill” R. Wagner, currently the company’s president and chief operating officer. Simon will remain as the company’s chairman of the board and will also serve in an advisory role to Wagner.

Wagner was hired in 2013, joining LogMeIn as the company’s first chief operating officer. In this key capacity, he implemented strategic initiatives that helped accelerate the company’s growth. Wagner was promoted to president in January of 2015 and thereafter was appointed to the company’s Board of Directors.

“Bill is a trusted and respected leader at LogMeIn, has embraced our core values and has pushed us to reach new heights,” said Michael K. Simon. “Bill possesses the unique combination of skills and vision to help LogMeIn achieve its next phase of growth.”

Simon co-founded LogMeIn as CEO in 2003, growing the company from a three-person startup to a leading cloud company with nearly one thousand employees, nine global offices and more than $200 million in annual revenue.  He led the company through its public offering in 2009, and helped the company attract millions of users worldwide.

“In LogMeIn, Michael built an iconic company that created some of the most popular and widely used cloud products in the world,” said Ed Gillis, Lead Independent Director of LogMeIn’s Board of Directors.  “Bill has been a key contributor to LogMeIn’s recent growth, and we’re excited to see him shape and implement LogMeIn’s future vision.”

Outlook Affirmed

The company today reaffirmed its third quarter and full year 2015 outlook, which was last updated on July 23, 2015. The company expects to achieve third quarter revenues of $68.8 million to $69.3 million and full year 2015 revenues of $265.0 million to $266.5 million.  Non-GAAP net income for the third quarter is expected to be in the range of $0.43 to $0.44 per diluted share, and non-GAAP net income for the full year 2015 is expected to be in the range of $1.51 to $1.57 per diluted share.

Non-GAAP net income per diluted share excludes acquisition related costs and amortization, stock-based compensation expense, and litigation related expense.

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 Company’s financial guidance for the third quarter of 2015 and fiscal year 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, as further described in the “Risk Factors” section of the Company’s Quarterly Report on Form 10-Q for the period ended June 30, 2015.   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 could 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.

 

Contact Information:

Investors

Rob Bradley

LogMeIn, Inc.

781-897-1301

rbradley@LogMeIn.com

 

Press

Craig VerColen

LogMeIn, Inc.

781-897-0696

Press@LogMeIn.com


 

         

LogMeIn to Present at the 18th Annual Oppenheimer Technology, Internet & Communications Conference

On August 12, 2015, LogMeIn’s CEO, Michael Simon, and CFO, Ed Herdiech, will be attending the Oppenheimer Technology, Internet & Communications Conference at the Four Seasons Hotel in Boston, MA. Details around the session are as follows:

Oppenheimer 18th Annual Technology, Internet & Communications Conference

  • Date: Wednesday, August 12, 2015
  • Remarks:  1:05pm ET
  • Location: Four Seasons Hotel, 200 Boylston St, Boston, MA 02116
  • Attendees: Michael Simon, CEO, and Ed Herdiech, CFO

The presentation will be webcast live on the investor relations section of the company’s website at https://investor.logmeininc.com/and will be available for 90 days after the live presentation. For more information, please contact me at 781-897-1301 or rbradley@LogMeIn.com

         

LogMeIn to Present at the Pacific Crest Global Technology Leadership Forum

On August 10, 2015, LogMeIn’s President & COO, Bill Wagner, will be attending the Pacific Crest Global Technology Leadership Forum at the Sonnenalp in Vail, CO. Details around the session are as follows:

Pacific Crest Global Technology Leadership Forum

  • Date: Monday, August 10, 2015
  • Remarks:  2:00pm MT
  • Location: Sonnenalp, 20 Vail Road, Vail, CO
  • Attendees: Bill Wagner, President & COO

The presentation will be webcast live on the investor relations section of the company’s website at https://investor.logmeininc.com/and will be available for 90 days after the live presentation. For more information, please contact me at 781-897-1301 or rbradley@LogMeIn.com

         

LOGMEIN TO PRESENT AT THE NEEDHAM INTERCONNECT CONFERENCE

On August 4, 2015, LogMeIn’s Vice President of Investor Relations, Rob Bradley, will be attending the Needham Interconnect Conference at the Westin Grand Central Hotel, New York. Details around the session are as follows:

Needham Interconnect Conference

  • Date: Tuesday, August 4, 2015
  • Remarks:  1:40pm ET
  • Location: The Westin Grand Central Hotel, 212 East 42nd Street, New York, NY
  • Attendees: Rob Bradley, Vice President of Investor Relations

The presentation will be webcast live on the investor relations section of the company’s website at https://investor.logmeininc.com/and will be available for 90 days after the live presentation. For more information, please contact me at 781-897-1301 or rbradley@LogMeIn.com