69.11 -1.06 -1.51% Volume: 339,654 August 23, 2019

LogMeIn Announces First Quarter 2019 Results

Apr 25, 2019
$308M of Revenue with $103M in Free Cash Flow;
Q1 Highlighted by the New GoTo Brand & UCC Product Launches
 

BOSTON, April 25, 2019 (GLOBE NEWSWIRE) -- LogMeIn, Inc. (NASDAQ: LOGM), a leading provider of cloud-based connectivity, today announced its results for the first quarter ended March 31, 2019.

First quarter financial highlights include:

  • GAAP revenue was $307.7 million and non-GAAP revenue was $308.1 million
  • GAAP net loss was $9.0 million or ($0.18) per share and non-GAAP net income was $59.9 million or $1.17 per diluted share
  • EBITDA was $68.7 million or 22.3% of GAAP revenue and Adjusted EBITDA was $96.8 million or 31.4% of non-GAAP revenue
  • Cash flow from operations was $119.7 million or 38.8% of non-GAAP revenue, and adjusted free cash flow was $102.7 million or 33.3% of non-GAAP revenue
  • Total GAAP deferred revenue was $402.3 million
  • The Company closed the quarter with cash and cash equivalents of $145.1 million and $200.0 million of borrowings under its existing credit agreement

First quarter operational highlights include:

  • Launched the new “GoTo” brand, a Unified Communications and Collaboration product portfolio along with GoToConnect, an all-in-one audio, video and screensharing application fully integrated with cloud-based telephony
  • Announced GoToRoom, a new conference room solution, as well as a new hardware partnership with Poly, now part of Plantronics
  • Completed two strategic tuck-in acquisitions to accelerate product roadmap for artificial intelligence and identity initiatives
  • Jive named TrustRadius’ highest rated VoIP solution provider of 2019, as voted on by customers and VoIP users
  • LastPass was recognized as Infosec Award Winner by Cyber Defense Magazine
  • Established Artificial Intelligence Center of Excellence in Herzliya, Israel

“LogMeIn had an encouraging start to 2019 as we delivered financial results in the first quarter that exceeded our guidance for revenue, profit and earnings,” said Bill Wagner, President and CEO of LogMeIn. “We also made significant progress on our strategic initiatives to accelerate our growth in large and dynamic adjacent markets and had several exciting product and brand announcements. We continue to focus on executing our plan and balancing near-term priorities with our strategic initiatives.”

Business Outlook
Based on information available as of April 25, 2019, the Company is issuing guidance for the second quarter 2019 and fiscal year 2019. 

Second Quarter 2019: The Company expects second quarter GAAP and non-GAAP revenue to be in the range of $310 million to $312 million.  Non-GAAP revenue adds back $0.3 million for the impact of an acquisition accounting adjustment recorded to reduce acquired deferred revenue to the fair value of the remaining obligation.

EBITDA is expected to be in the range of $70 million to $71 million, or approximately 23% of GAAP revenue. Adjusted EBITDA is expected to be in the range of $94 million to $95 million, or approximately 30% of non-GAAP revenue. 

Non-GAAP net income is expected to be in the range of $56 million to $57 million, or $1.12 to $1.14 per diluted share. Non-GAAP net income adds back the non-GAAP revenue adjustment described above and excludes an estimated $19 million in stock-based compensation expense, $4 million in acquisition and litigation-related costs, $61 million of amortization expense of acquired intangible assets, and $1 million of restructuring charges, as well as the income tax effect of the above items.

Non-GAAP net income for the second quarter assumes an effective tax rate of approximately 25% and GAAP net loss assumes a tax provision of approximately $1 million for the second quarter. Non-GAAP net income per diluted share is based on an estimated 50.4 million fully-diluted weighted average shares outstanding. GAAP net loss per share is based on an estimated 49.8 million weighted average shares outstanding.

Including stock-based compensation expense, acquisition-related costs and amortization, litigation-related expense, and restructuring charges, the Company expects to report GAAP net loss in the range of $10 million to $9 million, or $0.20 to $0.18 per share. 

Fiscal year 2019: The Company expects full year 2019 non-GAAP revenue to be in the range of $1.253 billion to $1.263 billion. The Company expects full year 2019 GAAP revenue to be in the range of $1.252 billion to $1.262 billion. Non-GAAP revenue adds back $1 million for the impact of an acquisition accounting adjustment recorded to reduce acquired deferred revenue to the fair value of the remaining obligation.

EBITDA is expected to be in the range of $301 million to $305 million, or approximately 24% of GAAP revenue. Adjusted EBITDA is expected to be in the range of $409 million to $413 million, or approximately 33% of non-GAAP revenue.

Non-GAAP net income is expected to be in the range of $249 million to $253 million, or $4.96 to $5.02 per diluted share. Non-GAAP net income adds back the non-GAAP revenue adjustment described above and excludes an estimated $76 million in stock-based compensation expense, $15 million in acquisition and litigation-related costs, $243 million of amortization expense of acquired intangible assets, and $16 million of restructuring charges, as well as the income tax effect of the above items.

Non-GAAP net income for the fiscal year assumes an effective tax rate of approximately 25% and GAAP net loss for the fiscal year assumes a tax provision of approximately $1 million. Non-GAAP net income per diluted share is based on an estimated 50.3 million fully-diluted weighted average shares outstanding. GAAP net loss per share is based on an estimated 49.6 million weighted average shares outstanding.

Including stock-based compensation expense, acquisition-related costs and amortization, litigation-related expense, and restructuring charges, the Company expects to report GAAP net loss in the range of $18 million to $14 million, or $0.35 to $0.27 per share.

Dividend
In accordance with its previously announced capital return plan, the Company will pay a $0.325 per share dividend on May 24th, 2019 to stockholders of record as of May 8th, 2019. The Company currently has approximately 49.8 million shares of common stock outstanding.

Conference Call Information for Today, Thursday, April 25, 2019
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 (866) 519-2796 and enter passcode 703976. A live webcast will be available on the Investor Relations section of the Company’s corporate website at https://www.logmeininc.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 25, 2019 until 8:00 p.m. Eastern Time on
May 2, 2019, by dialing 719-457-0820 and entering passcode 6706039.

Non-GAAP Financial Measures
This press release contains non-GAAP financial measures including non-GAAP revenue, EBITDA, EBITDA margin, 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, adjusted cash flow from operations, and adjusted free cash flow.

  • Non-GAAP revenue excludes the impact of the fair value acquisition accounting adjustment on acquired deferred revenue. 
  • EBITDA is GAAP net income (loss) excluding interest, income taxes, other (expense) income, net, and depreciation and amortization expense. 
  • EBITDA margin is calculated by dividing EBITDA by revenue.
  • Adjusted EBITDA is EBITDA excluding the impact of the fair value acquisition accounting adjustment on acquired deferred revenue, acquisition-related costs, gain on disposition of non-core assets, stock-based compensation expense, restructuring charges, and litigation-related expense.
  • Adjusted EBITDA margin is calculated by dividing adjusted EBITDA by non-GAAP revenue, or GAAP revenue if not different. 
  • Non-GAAP operating income excludes the impact of the fair value acquisition accounting adjustment on acquired deferred revenue, acquisition related costs and amortization, gain on disposition of non-core assets, stock-based compensation expense, restructuring charges, and litigation-related expense and includes amortization expense for acquired company internally capitalized software development costs that were adjusted in acquisition accounting.
  • Non-GAAP provision for income taxes excludes the tax impact of the fair value acquisition accounting adjustment on acquired deferred revenue, acquisition-related costs and amortization, gain on disposition of non-core assets, stock-based compensation expense, restructuring charges, litigation-related expense, discrete integration related tax impacts, and the tax impact related to the enactment of the U.S. Tax Cuts and Jobs Act of 2017, and includes the tax impact of amortization expense for acquired company internally capitalized software development costs that were adjusted in acquisition accounting.
  • Non-GAAP net income and non-GAAP net income per diluted share reflects the adjustments noted in non-GAAP operating income and non-GAAP provision for income taxes above.
  • Adjusted cash flow from operations excludes acquisition retention-based bonus, litigation, restructuring, and acquisition-related payments and transaction and transition-related tax payments.
  • Adjusted free cash flow is adjusted cash flow from operations excluding purchases of property and equipment and intangible asset additions.

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, 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 with each other and the world around them to drive meaningful interactions, deepen relationships, and create better outcomes for individuals and businesses. A market leader in unified communications and collaboration, identity and access management, and customer engagement and support solutions, LogMeIn has millions of customers spanning virtually every country across the globe. LogMeIn is headquartered in Boston, Massachusetts with additional locations in North America, South America, Europe, Asia and Australia.

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 progress made on the Company’s strategic initiatives and key growth areas, and the Company's financial guidance for the second quarter of 2019 and fiscal year 2019. 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, customer adoption of the Company's solutions, the Company’s ability to execute on its strategic initiatives, the Company’s ability to integrate acquired products or companies, 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 effectiveness of the Company’s cybersecurity measures, 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, the result of any pending litigation including intellectual property litigation, 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 is a registered trademark of LogMeIn, Inc. in the US and other countries around the world.

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, Inc.
Condensed Consolidated Balance Sheets (unaudited)
(In thousands)
       
  December 31,   March 31,
   2018      2019  
       
ASSETS
Current assets:      
  Cash and cash equivalents $     148,652      $     145,056   
  Accounts receivable, net      95,354          88,954   
  Prepaid expenses and other current assets      83,887          80,944   
  Total current assets     327,893          314,954   
Property and equipment, net     98,238          101,445   
Operating lease assets     -          108,530   
Restricted cash, net of current portion     1,840          1,803   
Intangibles, net     1,059,988          1,014,935   
Goodwill     2,400,390          2,413,172   
Other assets     41,545          46,303   
Deferred tax assets     6,059          6,106   
  Total assets $     3,935,953      $     4,007,248   
       
LIABILITIES AND EQUITY
Current liabilities:      
  Accounts payable $     35,447      $     43,769   
  Current operating lease liabilities     -          16,024   
  Accrued liabilities     119,379          145,189   
  Deferred revenue, current portion     369,780          393,807   
  Total current liabilities     524,606          598,789   
Long-term debt     200,000          200,000   
Deferred revenue, net of current portion     9,518          8,488   
Deferred tax liabilities     201,212          192,850   
Non-current operating lease liabilities     -          98,293   
Other long-term liabilities     25,929          13,892   
  Total liabilities     961,265          1,112,312   
Equity:      
  Common stock     567          569   
  Additional paid-in capital     3,316,603          3,322,862   
  Retained earnings      84,043          58,487   
  Accumulated other comprehensive income (loss)     2,133          (492 )
  Treasury stock     (428,658 )       (486,490 )
  Total equity     2,974,688          2,894,936   
Total liabilities and equity $     3,935,953      $     4,007,248   
       

 

 
 
LogMeIn, Inc.
Condensed Consolidated Statements of Operations (unaudited)
(In thousands, except per share data)
       
  Three Months Ended March 31,
  2018   2019
       
Revenue  $     279,217      $     307,700   
Cost of revenue     62,942          77,688   
  Gross profit     216,275          230,012   
Operating expenses:      
  Research and development     43,116          40,717   
  Sales and marketing     88,215          114,634   
  General and administrative     35,443          33,886   
  Restructuring charge     -          8,474   
  Gain on disposition of assets     (33,910 )       -   
  Amortization of acquired intangibles     41,083          39,499   
  Total operating expenses     173,947          237,210   
Income (loss) from operations     42,328          (7,198 )
  Interest income     673          661   
  Interest expense     (326 )       (2,143 )
  Other income (expense), net     (240 )       (260 )
Income (loss) before income taxes     42,435          (8,940 )
(Provision for) benefit from income taxes     (12,723 )       (99 )
Net income (loss) $     29,712      $     (9,039 )
       
Net income (loss) per share:      
  Basic $     0.57      $     (0.18 )
  Diluted $     0.56      $     (0.18 )
Weighted average shares outstanding:      
  Basic     52,457          50,639   
  Diluted     53,415          50,639   
       

 

LogMeIn, Inc.
Calculation of Non-GAAP Revenue (unaudited)
         
    Three Months Ended March 31,
    2018   2019
                 
     (in thousands) 
GAAP Revenue $     279,217      $     307,700   
  Add Back:      
  Effect of acquisition accounting on fair value of acquired deferred revenue     1,058          418   
Non-GAAP Revenue $     280,275      $     308,118   
         
Calculation of Non-GAAP Operating Income, Non-GAAP Net Income and Non-GAAP Net Income per Diluted Share (unaudited)
         
    Three Months Ended March 31,
    2018   2019
                 
     (In thousands, except per share data) 
GAAP Net income (loss) from operations $     42,328      $     (7,198 )
  Add Back:      
  Effect of acquisition accounting on fair value of acquired deferred revenue     1,058          418   
  Stock-based compensation expense     15,966          15,031   
  Acquisition related costs     5,145          3,924   
  Restructuring charge     -          8,474   
  Litigation related expenses     181          163   
  Amortization of acquired intangibles     58,968          60,469   
  Gain on disposition of assets     (33,910 )       -   
  Effect of acquisition accounting on internally capitalized software development costs     (3,719 )       -   
Non-GAAP Operating income     86,017          81,281   
  Interest and other expense, net     107          (1,742 )
Non-GAAP Income before income taxes     86,124          79,539   
  Non-GAAP Provision for income taxes (1)     (21,273 )       (19,686 )
Non-GAAP Net income $     64,851      $     59,853   
         
Non-GAAP net income per diluted share $     1.21      $     1.17   
Diluted weighted average shares outstanding used in      
  computing per share amounts     53,415          50,990   
         
(1) The three months ended March 31, 2018 Non-GAAP provision for income taxes excludes the tax impact of Non-GAAP items as well as excluding a net tax provision of $0.7 million recorded in the first quarter of 2018 related to the enactment of the U.S. Tax Cuts and Jobs Act of 2017. 
         
         
Calculation of EBITDA and Adjusted EBITDA (unaudited)
         
    Three Months Ended March 31,
    2018   2019
                 
     (in thousands) 
GAAP Net income (loss) $     29,712      $     (9,039 )
  Add Back:      
  Interest and other expense, net     (107 )       1,742   
  Income tax provision (benefit)     12,723          99   
  Amortization of acquired intangibles     58,968          60,469   
  Depreciation and amortization expense     12,322          15,475   
EBITDA     113,618          68,746   
  Add Back:      
  Effect of acquisition accounting on fair value of acquired deferred revenue     1,058          418   
  Stock-based compensation expense     15,966          15,031   
  Gain on disposition of assets     (33,910 )       -   
  Acquisition related costs      5,145          3,924   
  Restructuring charge     -          8,474   
  Litigation related expenses     181          163   
Adjusted EBITDA $     102,058      $     96,756   
  EBITDA Margin   40.7 %     22.3 %
  Adjusted EBITDA Margin   36.4 %     31.4 %
         
Calculation of Adjusted Cash Flows from Operations and Adjusted Free Cash Flow (unaudited)
         
    Three Months Ended March 31,
    2018   2019
                 
     (in thousands) 
GAAP Cash flows from operations $     153,973      $     119,650   
  Add Back:      
  Litigation related payments     891          14   
  Acquisition retention-based bonus payments     42          1,463   
  Restructuring payments     -          1,894   
  Transaction related payments (acquisitions and dispositions)     6,497          814   
Adjusted cash flows from operations       161,403          123,835   
  Purchases of property and equipment     (7,249 )       (12,187 )
  Intangible asset additions     (7,096 )       (8,915 )
Adjusted Free Cash Flow $     147,058      $     102,733   
  GAAP Cash flows from operations as a % of Non-GAAP Revenue   54.9 %     38.8 %
  Adjusted Cash flows from operations as a % of Non-GAAP Revenue   57.6 %     40.2 %
  Adjusted Free Cash Flow as a % of Non-GAAP Revenue   52.5 %     33.3 %
         
Stock-Based Compensation Expense (unaudited)
         
    Three Months Ended March 31,
    2018   2019
                 
     (in thousands) 
  Cost of revenue $     1,216      $     980   
  Research and development     4,943          4,705   
  Sales and marketing     3,695          3,148   
  General and administrative     6,112          6,198   
  Total stock based-compensation $     15,966      $     15,031   
         
         
         

 

LogMeIn, Inc.
Calculation of Projected 2019 Non-GAAP Revenue (unaudited)
(In millions)
         
    Three Months Ended   Twelve Months Ended
    June 30, 2019   December 31, 2019
         
GAAP Revenue $310 - $312   $1,252 - $1,262
  Add Back:      
  Effect of acquisition accounting on fair value of acquired deferred revenue --   
Non-GAAP Revenue $310 - $312   $1,253 - $1,263
         
Calculation of Projected 2019 Non-GAAP Net Income and Non-GAAP Net Income per Diluted Share (unaudited)
(In millions, except per share data)
         
    Three Months Ended   Twelve Months Ended
    June 30, 2019   December 31, 2019
         
GAAP Net loss $(10) - $(9)   $(18) - $(14)
  Add Back:      
  Effect of acquisition accounting on fair value of acquired deferred revenue --   
  Stock-based compensation expense 19    76 
  Acquisition and litigation related costs    15 
  Restructuring charges   16 
  Amortization of acquired intangibles 61    243 
  Income tax effect of non-GAAP items (19)   (84)
Non-GAAP Net income $56 - $57   $249 - $253
         
GAAP net loss per share $(0.20) - $(0.18)   $(0.35) - $(0.27)
Non-GAAP net income per diluted share $1.12 - $1.14   $4.96 - $5.02
Weighted average shares outstanding used in computing net loss per share 49.8    49.6 
Diluted weighted average shares outstanding used in computing net income per diluted share 50.4    50.3 
         
         
Calculation of Projected 2019 EBITDA and Adjusted EBITDA (unaudited)
(In millions)
         
    Three Months Ended   Twelve Months Ended
    June 30, 2019   December 31, 2019
         
GAAP Net loss $(10) - $(9)   $(18) - $(14)
  Add Back:      
  Interest and other (income) expense, net  
  Income tax provision (benefit)  
  Amortization of acquired intangibles 61    243 
  Depreciation and amortization expense 16    67 
EBITDA 70 - 71   301 - 305
  Add Back:      
  Effect of acquisition accounting on fair value of acquired deferred revenue --   
  Stock-based compensation expense 19    76 
  Acquisition and litigation related costs    15 
  Restructuring charges   16 
Adjusted EBITDA $94 - $95   $409 - $413
  EBITDA Margin 23%   24%
  Adjusted EBITDA Margin 30%   33%
         
         
         

 

LogMeIn, Inc.
Condensed Consolidated Statements of Cash Flows (unaudited)
(In thousands)
       
  Three Months Ended March 31,
   2018      2019  
Cash flows from operating activities      
Net income (loss) $     29,712      $     (9,039 )
Adjustments to reconcile net income (loss) to net cash      
  provided by operating activities:      
  Stock-based compensation     15,966          15,031   
  Depreciation and amortization     71,290          75,944   
  Gain on disposition of assets, excluding transaction costs     (36,281 )       -   
  Benefit from deferred income taxes     (9,353 )       (11,651 )
  Other, net     464          337   
  Changes in assets and liabilities, excluding effect of acquisitions and dispositions:      
  Accounts receivable     9,820          6,024   
  Prepaid expenses and other current assets     4,767          2,883   
  Other assets     (2,767 )       (6,674 )
  Accounts payable     9,646          9,344   
  Accrued liabilities     19,812          19,350   
  Deferred revenue     38,685          23,820   
  Other long-term liabilities     2,212          (5,719 )
  Net cash provided by operating activities      153,973          119,650   
Cash flows from investing activities      
Purchases of property and equipment     (7,249 )       (12,187 )
Intangible asset additions     (7,096 )       (8,915 )
Acquisition of businesses, net of cash acquired     -          (22,463 )
Proceeds from disposition of assets     42,394          -   
  Net cash provided by (used in) investing activities     28,049          (43,565 )
Cash flows from financing activities      
Proceeds from issuance of common stock upon option exercises     63          41   
Payments of withholding taxes in connection with restricted stock unit vesting     (9,230 )       (7,789 )
Dividends paid on common stock     (15,738 )       (16,517 )
Purchase of treasury stock     (46,901 )       (54,067 )
  Net cash used in financing activities     (71,806 )       (78,332 )
Effect of exchange rate changes on cash, cash equivalents and restricted cash     2,657          (1,385 )
Net increase (decrease) in cash, cash equivalents and restricted cash     112,873          (3,632 )
Cash, cash equivalents and restricted cash, beginning of period     254,209          150,492   
Cash, cash equivalents and restricted cash, end of period $     367,082      $     146,860   
       

 

 

 

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Source: LogMeIn, Inc.

NASDAQ:LOGM
Price 69.11 -1.06 -1.51% Volume: 339,654 Aug 23, 2019 PM ET Pricing delayed 20 minutes> More

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Investor Contact

Rob Bradley
Vice President of Investor Relations
Phone: (781) 897-1301

InvestorRelations@LogMeIn.com

Disclaimer

You are now leaving LogMeIn's website and are being directed to a website that is operated and maintained by a third party (an "External Site"). LogMeIn does not control the External Site and is not responsible for the data, content or availability of the External Site. This link to the External Site is provided for convenience purposes only. We make no representation or warranty regarding the accuracy of the information contained in the External Sites. We suggest that you always verify the information obtained from linked websites before acting upon this information. Also, please be aware that the security and privacy policies on this External Site may be different than LogMeIn’s policies, so we encourage you to read any third party privacy and security policies closely.

LogMeIn’s filings with the U.S. Securities and Exchange Commission, or SEC, including LogMeIn’s annual reports on Form 10-K which include our audited financial statements, are available on LogMeIn’s Investor Relations website at https://investor.logmeininc.com/about-us/investors/financials/sec-filings/default.aspx free of charge. The data and other content contained on the External Site are not meant, and should not be used, as a substitute for information contained in LogMeIn’s filings with the SEC or disclosed through other channels used by LogMeIn to comply with its disclosure obligations under Regulation FD. The reports contained on the External Site may contain forward-looking information about LogMeIn’s future financial performance and results. Please note that the information presented on the External Site is deemed representative at the time of its original release and that changes in historical information may occur. LogMeIn undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. Although we believe the expectations reflected in the forward-looking statements are reasonable, we cannot guarantee these results. We caution you to consider the risk factors described in our SEC filings, which could cause actual results to differ materially from the forward-looking statements disclosed on the External Site.

Non-GAAP Information

The External Site may contain certain non-GAAP and pro forma non-GAAP financial measures, in addition to financial measures determined in accordance with GAAP. “GAAP” refers to generally accepted accounting principles in the United States. The non-GAAP financial measures contained on the External Sites are not prepared in accordance with GAAP and may not be comparable to non-GAAP financial measures used by other companies. The non-GAAP information should be considered in addition to, but not as a substitute for or superior to, other measures of financial performance prepared in accordance with GAAP. LogMeIn 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 its quarterly financial results, 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 are included in LogMeIn’s quarterly press releases, which can be found in the Financials section of LogMeIn’s investor relations website under “Quarterly Results.”

By clicking “Accept”, you acknowledge that you have read and understand the information set forth above and agree that you will not misrepresent any calculation derived from the data or other content contained on the External Site as LogMeIn’s or otherwise.