We use cookies to understand how you use our site and to improve your experience. This includes personalizing content and advertising. To learn more, click here. By continuing to use our site, you accept our use of cookies, revised Privacy Policy and Terms of Service.
You are being directed to ZacksTrade, a division of LBMZ Securities and licensed broker-dealer. ZacksTrade and Zacks.com are separate companies. The web link between the two companies is not a solicitation or offer to invest in a particular security or type of security. ZacksTrade does not endorse or adopt any particular investment strategy, any analyst opinion/rating/report or any approach to evaluating individual securities.
If you wish to go to ZacksTrade, click OK. If you do not, click Cancel.
LogMeIn 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.
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).
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.
Image: Bigstock
LogMeIn (LOGM) Q2 Earnings & Revenues Surpass Estimates
LogMeIn 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-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 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 >>