LogMeIn Announces Fourth Quarter and Fiscal Year 2016 Results

Announces Three-Year, $700 Million Capital Return Plan and Issues Guidance for 2017.

LogMeIn, Inc. (NASDAQ: LOGM), a leading provider of cloud-based connectivity, today announced its results for the fourth quarter and fiscal year ended December 31, 2016.

Fourth quarter 2016 highlights include:

  • Revenue was $88.0 million, up 16% compared to the fourth quarter of 2015
  • EBITDA was $7.4 million and EBITDA margin was 8.4% compared to $11.1 million and 14.6% in the fourth quarter of 2015
  • Adjusted EBITDA was $26.7 million and adjusted EBITDA margin was 30.4% compared to $20.9 million and 27.5% in the fourth quarter of 2015
  • Net income was $1.9 million, or $0.07 per diluted share, as compared to $6.2 million, or $0.24 per diluted share, in the fourth quarter of 2015
  • Non-GAAP net income was $16.4 million, or $0.62 per diluted share, as compared to $13.2 million, or $0.51 per diluted share, in the fourth quarter of 2015
  • Cash Flow from Operations was $8.2 million, or 9% of revenue
  • Adjusted Cash Flow from Operations was $18.1 million, or 21% of revenue
  • Total deferred revenue was $162.3 million, up 18% from $137.0 million in the fourth quarter of 2015
  • The Company closed the quarter with cash, cash equivalents and short-term investments of $196.5 million

Fiscal year 2016 highlights include:

  • Revenue was $336.1 million, up 24% compared to fiscal year 2015
  • EBITDA was $25.9 million and EBITDA margin was 7.7% compared to $29.7 million and 11.0% in fiscal year 2015
  • Adjusted EBITDA was $89.5 million and adjusted EBITDA margin was 26.6% compared to $67.6 million and 24.9% in fiscal year 2015
  • Net income was $2.6 million, or $0.10 per diluted share, as compared to $14.6 million, or $0.56 per diluted share, for fiscal year 2015
  • Non-GAAP net income was $53.0 million, or $2.03 per diluted share, as compared to $42.7 million, or $1.66 per diluted share, in fiscal year 2015
  • Cash Flow from Operations was $92.3 million, or 27% of revenue
  • Adjusted Cash Flow from Operations was $110.1 million, or 33% of revenue

Conference Call Information for Today, Tuesday, February 28, 2017

We will host a corresponding conference call and live webcast at 5:00 p.m. Eastern Time today.  To access the conference call, dial 888-397-5335 (for the U.S. and Canada) or 719-325-2434 (for international callers) and entering passcode 1914840.

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 February 28, 2017 until 8:00 p.m. Eastern Time on March 8, 2017, by dialing 888-203-1112 and entering passcode 1914840.

To see the full LogMeIn earnings press release and financials, please click here.

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