Discontinuing LogMeIn Free
As you might have seen, today we began notifying users that we will be discontinuing LogMeIn Free and will seek to transition existing LogMeIn Free users to our paid-only remote access offering.
While we intend to provide additional information regarding the financial implications of this change during our February 13th earnings call, we want to share some initial details for the investment community.
Currently, consensus revenue estimates for LogMeIn in 2014 are $190.3 million. While it’s too early to project the precise impact of this initiative, we anticipate our 2014 revenue will be consistent with these estimates without any revenue contribution from this business model shift. However, management believes there may be some incremental revenue contribution as a result of this program, depending on the number of users that convert to our premium offering.
We look forward to providing more details on our upcoming earnings call on February 13th.
Forward-Looking Statements: This post contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including statements regarding our estimated 2014 revenue. 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. The company’s actual results could differ materially from those stated above.