Back to top

Image: Bigstock

LogMeIn (LOGM) Q2 Earnings & Revenues Surpass Estimates

Read MoreHide Full Article

LogMeIn (LOGM - Free Report) reported second-quarter 2020 adjusted earnings of $1.54 per share, which beat the Zacks Consensus Estimate by 24.2% and also jumped 31.6% year over year.

Revenues of $350.7 million surpassed the consensus mark by 7.3% and also improved 11.9% year over year.

LogMeIn did not hold a conference discussing second-quarter 2020 results or issue any guidance due to its impending acquisition. Notably, in December 2019, the company entered into a definitive agreement to be acquired by global private equity firms Francisco Partners and Evergreen Coast Capital Corp.

Quarter Details

Unified Communication and Collaboration business revenues increased 12.8% year over year to $194 million.

Identity and Access Management revenues rose 14.3% from the year-ago quarter to $112 million.
 

LogMein, Inc. Price, Consensus and EPS Surprise

LogMein, Inc. Price, Consensus and EPS Surprise

LogMein, Inc. price-consensus-eps-surprise-chart | LogMein, Inc. Quote

 

Customer Engagement and Support business revenues climbed 4.7% on a year-over-year basis to $45 million.

The company’s gross renewal rate across all products was nearly 80%.

International revenues constituted 22% of total revenues in the second quarter.

Moreover, in the quarter under review, adjusted EBITDA increased 24.9% year over year to $119.3 million. Adjusted EBITDA margin expanded 350 basis points (bps) on a year-over-year basis to 30.5%.

LogMeIn’s non-GAAP operating income increased 28.5% year over year to $102.3 million. Operating margin expanded 380 bps on a year-over-year basis to 29.2%.

 

Balance Sheet and Cash Flow

LogMeIn had cash and cash equivalents of $249.5 million as of Jun 30, 2020, compared with $189.6 million at the end of first-quarter 2020.

The company generated $107 million of adjusted cash flow from operational activities and $88.6 million of adjusted free cash flow in the reported quarter.

Zacks Rank and Stocks to Consider

Currently, LogMeIn carries a Zacks Rank #3 (Hold).

Some better-ranked stocks in the broader technology sector are Dropbox (DBX - Free Report) , Everbridge (EVBG - Free Report) and Asure Software (ASUR - Free Report) . All the three stocks sport a Zacks Rank #1 (Strong Buy). You can see the complete list of today’s Zacks #1 Rank stocks here.

Both Dropbox and Everbridge are scheduled to report earnings on Aug 6. Asure Software is set to release quarterly results on Aug 10.

 

5 Stocks Set to Double

Each was hand-picked by a Zacks expert as the #1 favoritestock to gain +100% or more in 2020. Each comes from a different sector and has unique qualities and catalysts that could fuel exceptional growth.

Most of the stocks in this report are flying under Wall Street radar, which provides a great opportunity to get in on the ground floor.

Today, See These 5 Potential Home Runs >>


In-Depth Zacks Research for the Tickers Above


Normally $25 each - click below to receive one report FREE:


Asure Software Inc (ASUR) - free report >>

LogMein, Inc. (LOGM) - free report >>

Everbridge, Inc. (EVBG) - free report >>

Dropbox, Inc. (DBX) - free report >>

Published in