LOGMEIN (LOGM)

EARNINGS RELEASE THURSDAY - OCTOBER 24 (AMC)

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JUMP REPORT

Avg Daily Volume: 443,078    Market Cap: 3.34B
Sector: Technology    Short Interest: 4.89

EARNINGS EXPECTATIONS:  

     THIS QTR:   EPS:      1.36/share     REV:  315.5/M
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     LAST QTR:  EPS:       1.13/share     ACTUAL:   1.17/share  (BEAT)
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     NEXT QTR:  EPS:      1.39/share     REV: 322.4/M
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     FULL YR:     EPS:       5.09/share    REV: 1,260/M
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*These are the base metrics we will be watching against the actual release numbers
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BEAT/MISS RECORD:  88%  OF THE TIME THEY BEAT ESTIMATES

PRIOR ‘JUMP ZONE’ MOVES (LAST 3 QTRS %) 17.13, -6.12, -16.40

EXPECTED JUMP MOVE:  10-15%

Links To Latest News and Headlines

BOSTON, Aug. 05, 2020 (GLOBE NEWSWIRE) — LastPass by LogMeIn today unveiled a new Security Dashboard, providing end users with a complete overview of the security of their online accounts and actionable steps to strengthen their online security. Building on the original LastPass Security Challenge, the new LastPass Security Dashboard now includes dark web monitoring, a new feature available to LastPass Premium, Families and Business customers, that proactively watches for breach activity and alerts users when they need to take action. In addition to displaying weak and reused passwords, the new Security Dashboard now gives all LastPass users, regardless of tier, a full picture of their online security, providing complete control over their digital life and peace of mind that accounts are protected. A recent LastPass survey of more than 3,000 global consumers found that 40 percent of people don’t know what the dark web is, let alone know when their data is compromised. The majority (86 percent) claim they have no way of even knowing if their information is on the dark web. During a time where much of the world is spending more time online and the cyber threats facing consumers and businesses are at an all-time high, it’s critical to be in control of your online assets and protect yourself from data breaches.  The new LastPass dark web monitoring feature proactively checks email addresses against a 3rd party database of breached credentials. If that email address has been found in the database, the user will be immediately notified by email and with a message directly in their LastPass Security Dashboard. From there, users will be prompted to update the password for that compromised account. “It’s extremely important to be informed of ways to protect your identity if your login, financial or personal information is compromised. Adding dark web monitoring and alerting into our Security Dashboard was a no brainer for us. LastPass already takes care of your passwords, and now you can extend that protection to more parts of your digital life,” said Dan DeMichele, Vice President of Product Management, IAM at LogMeIn. “LastPass is now equipped to truly be your home for managing your online security – making it simple to take action and stay safe in an increasingly digital world. With LastPass all your critical information is safe so you can access it whenever and wherever you need to.”The new Security Dashboard is now available for all LastPass users in their LastPass vault. LastPass Premium, Families and Business customers will be able to activate dark web monitoring, at no additional cost, from the Security Dashboard.Additional Resources * LastPass Dark Web Monitoring * Tutorial video * LastPass blog * Dark Web Monitoring InfographicAbout LastPass LastPass is an award-winning password manager helping more than 25.6 million users organize and protect their online lives. For more than 70,000 businesses of all sizes, LastPass provides identity and access management solutions that are easy to manage and effortless to use. From single sign-on and enterprise password management to adaptive multifactor authentication, LastPass for Business gives superior control to IT and frictionless access to users. For more information, visit https://lastpass.com. LastPass is a trademark of LogMeIn in the U.S. and other countries. About LogMeIn, Inc.  LogMeIn, Inc.’s (Nasdaq: LOGM) category-defining products unlock the potential of the modern workforce by making it possible for millions of people and businesses around the globe do their best work, whenever, however, and most importantly, wherever. A pioneer in remote work technology and a driving force behind today’s work-from-anywhere movement, LogMeIn has become one of the world’s largest SaaS companies with tens of millions of active users, more than 3,500 global employees, over $1.2 billion in annual revenue and more than 2 million customers worldwide who use its software as an essential part of their daily lives. The company is headquartered in Boston, Massachusetts with additional locations in North America, South America, Europe, Asia and Australia. Media Contact: Lauren Christopherson press@lastpass.com

30 Jul, 2020 @ 17:23 by Yahoo! Finance

LogMeIn's (LOGM) second-quarter 2020 results reflect solid growth in the Unified Communication and Collaboration and Identity and Access Management segments.

29 Jul, 2020 @ 20:08 by Yahoo! Finance

BOSTON, July 29, 2020 (GLOBE NEWSWIRE) — LogMeIn, Inc. (NASDAQ: LOGM), a leading provider of cloud-based connectivity, today announced its results for the second quarter ended June 30, 2020. Second quarter 2020 financial highlights include: * Revenue was $350.7 million, up 12% compared with the second quarter of 2019 * GAAP net income was $19.0 million or $0.39 per diluted share and non-GAAP net income was $75.9 million or $1.54 per diluted share * EBITDA was $101.6 million or 29.0% of revenue and Adjusted EBITDA was $119.3 million or 34.0% of revenue * Cash flow from operations was $80.7 million or 23.0% of revenue and adjusted free cash flow was $88.6 million or 25.3% of revenue * Total deferred revenue was $458.4 million, up $7.1 million from the first quarter of 2020Update on the Merger  In December 2019, LogMeIn announced that it had reached a definitive agreement to be acquired by affiliates of Francisco Partners and Evergreen Coast Capital Corp., the private equity affiliate of Elliott Management Corporation. On March 12, 2020, LogMeIn’s stockholders voted to adopt the merger agreement at a special stockholders meeting. In July 2020, the parties received the final regulatory approvals required to complete the transaction and now anticipate the merger to close later in the third quarter of 2020, following the completion of Francisco Partners’ and Evergreen Coast Capital Corp.’s debt marketing periods, and subject to the satisfaction or waiver of any remaining customary closing conditions.Conference Call and Financial Outlook  LogMeIn will not be holding a conference call or providing a financial outlook due to the Company’s pending transaction with affiliates of Francisco Partners and Evergreen Coast Capital Corp.Where to Find Additional Business and Financial Information  Additional information regarding the Company’s second quarter results, financial condition and operations can be found in the Company’s Quarterly Report on Form 10-Q, which will be filed with the SEC after the market closes on July 29, 2020.  A copy of the Company’s Quarterly Report on Form 10-Q will be available on the SEC’s website, http://www.sec.gov, and the Company’s investor relations website at https://investor.logmeininc.com/about-us/investors/financials/sec-filings/default.aspxNon-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, merger-related costs, 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, merger-related costs, stock-based compensation expense, restructuring charges, and litigation-related expense. * 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, merger-related costs, stock-based compensation expense, restructuring charges, litigation-related expense, and discrete integration related tax impacts. * 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, acquisition-related payments, merger-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.’s (Nasdaq:LOGM) category-defining products unlock the potential of the modern workforce by making it possible for millions of people and businesses around the globe to do their best work, whenever, however, and most importantly, wherever. A pioneer in remote work technology and a driving force behind today’s work-from-anywhere movement, LogMeIn has become one of the world’s largest SaaS companies with tens of millions of active users, more than 3,500 global employees, over $1.2 billion in annual revenue and more than 2 million customers worldwide who use its software as an essential part of their daily lives. The company is headquartered in Boston, Massachusetts with additional locations in North America, South America, Europe, Asia and Australia. 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.comLogMeIn, Inc. Condensed Consolidated Balance Sheets (unaudited) (In thousands)         December 31, June 30,    2019    2020         ASSETS Current assets:       Cash and cash equivalents $    128,005   $    249,464     Accounts receivable, net     107,595      108,959     Prepaid expenses and other current assets    89,351      103,585     Total current assets    324,951      462,008   Property and equipment, net    99,157      97,911   Operating lease assets    99,026      94,539   Restricted cash    1,883      1,796   Intangibles, net    840,427      736,107   Goodwill    2,414,287      2,414,229   Other assets    68,272      85,203   Deferred tax assets    7,994      9,090     Total assets $    3,855,997   $    3,900,883         LIABILITIES AND EQUITY Current liabilities:       Accounts payable $    52,104   $    43,965     Current operating lease liabilities    18,470      19,346     Accrued liabilities    161,996      151,198     Deferred revenue, current portion    390,087      448,755     Total current liabilities    622,657      663,264   Long-term debt    200,000      200,000   Deferred revenue, net of current portion    18,076      9,616   Deferred tax liabilities    170,482      151,684   Non-current operating lease liabilities    88,674      84,768   Other long-term liabilities    15,400      20,394     Total liabilities    1,115,289      1,129,726   Equity:       Common stock    573      577     Additional paid-in capital    3,369,893      3,393,750     Retained earnings    4,931      12,687     Accumulated other comprehensive income (loss)    684      (484)   Treasury stock    (635,373)    (635,373)   Total equity    2,740,708      2,771,157   Total liabilities and equity $    3,855,997   $    3,900,883         LogMeIn, Inc.     Condensed Consolidated Statements of Operations (unaudited)     (In thousands, except per share data)                 Three Months Ended June 30, Six Months Ended June 30,    2019    2020    2019    2020             Revenue $313,064  $350,727  $620,764  $673,110  Cost of revenue  80,767   93,497   158,455   178,375  Gross profit  232,297   257,230   462,309   494,735  Operating expenses:         Research and development  40,379   37,170   81,096   77,049  Sales and marketing  120,825   121,521   235,459   247,731  General and administrative  34,539   30,291   68,425   63,990  Restructuring charge  956   3,032   9,430   21,573  Amortization of acquired intangibles  39,390   33,287   78,889   66,615  Total operating expenses  236,089   225,301   473,299   476,958  Income (loss) from operations  (3,792)  31,929   (10,990)  17,777  Interest income  415   225   1,076   492  Interest expense  (2,126)  (1,132)  (4,269)  (2,812) Other income (expense), net  (107)  (374)  (367)  65  Income (loss) before income taxes  (5,610)  30,648   (14,550)  15,522  (Provision for) benefit from income taxes  (912)  (11,607)  (1,011)  (7,766) Net income (loss) $(6,522) $19,041  $(15,561) $7,756            Net income (loss) per share:         Basic $(0.13) $0.39  $(0.31) $0.16  Diluted $(0.13) $0.39  $(0.31) $0.16  Weighted average shares outstanding:         Basic  49,768   48,887   50,201   48,744  Diluted  49,768   49,186   50,201   49,189  LogMeIn, Inc.    Calculation of Non-GAAP Revenue (unaudited)                  Three Months Ended June 30, Six Months Ended June 30,     2019    2020    2019    2020             (in thousands) (in thousands) GAAP Revenue $313,064  $350,727  $620,764  $673,110   Add Back:          Effect of acquisition accounting on fair value of acquired deferred revenue  330   –   748   –  Non-GAAP Revenue $313,394  $350,727  $621,512  $673,110             Calculation of Non-GAAP Operating Income, Non-GAAP Net Income and Non-GAAP Net Income per Diluted Share (unaudited)                  Three Months Ended June 30, Six Months Ended June 30,     2019    2020    2019    2020             (In thousands, except per share data) (In thousands, except per share data) GAAP Net income (loss) from operations $(3,792) $31,929  $(10,990) $17,777   Add Back:          Effect of acquisition accounting on fair value of acquired deferred revenue  330   –   748   –   Stock-based compensation expense  18,203   13,432   33,234   30,293   Acquisition related costs  2,947   168   6,871   2,631   Merger related costs  –   355   –   2,608   Restructuring charge  956   3,032   9,430   21,573   Litigation related expenses  530   786   693   1,706   Amortization of acquired intangibles  60,428   52,619   120,897   105,305  Non-GAAP Operating income  79,602   102,321   160,883   181,893   Interest and other expense, net  (1,818)  (1,281)  (3,560)  (2,255) Non-GAAP Income before income taxes  77,784   101,040   157,323   179,638   Non-GAAP Provision for income taxes  (19,173)  (25,182)  (38,859)  (44,603) Non-GAAP Net income $58,611  $75,858  $118,464  $135,035             Non-GAAP net income per diluted share $1.17  $1.54  $2.34  $2.75  Diluted weighted average shares outstanding used in computing per share amounts  50,027   49,186   50,587   49,189             Calculation of EBITDA and Adjusted EBITDA (unaudited)                  Three Months Ended June 30, Six Months Ended June 30,     2019    2020    2019    2020             (in thousands) (in thousands) GAAP Net income (loss) $(6,522) $19,041  $(15,561) $7,756   Add Back:          Interest and other expense, net  1,818   1,281   3,560   2,255   Income tax provision (benefit)  912   11,607   1,011   7,766   Amortization of acquired intangibles  60,428   52,619   120,897   105,305   Depreciation and amortization expense  15,961   17,009   31,436   33,568  EBITDA  72,597   101,557   141,343   156,650   Add Back:          Effect of acquisition accounting on fair value of acquired deferred revenue  330   –   748   –   Stock-based compensation expense  18,203   13,432   33,234   30,293   Acquisition related costs  2,947   168   6,871   2,631   Merger related costs  –   355   –   2,608   Restructuring charge  956   3,032   9,430   21,573   Litigation related expenses  530   786   693   1,706  Adjusted EBITDA $95,563  $119,330  $192,319  $215,461   EBITDA Margin  23.2%  29.0%  22.8%  23.3%  Adjusted EBITDA Margin  30.5%  34.0%  30.9%  32.0%            Calculation of Adjusted Cash Flows from Operations and Adjusted Free Cash Flow (unaudited)                  Three Months Ended June 30, Six Months Ended June 30,     2019    2020    2019    2020             (in thousands) (in thousands) GAAP Cash flows from operations $83,717  $80,656  $203,367  $168,655   Add Back:          Litigation related payments  5   1,229   19   1,794   Acquisition retention-based bonus payments  3,763   9,343   5,226   12,629   Restructuring payments  5,155   13,901   7,049   17,543   Merger related payments  –   1,860   –   12,666   Acquisition related payments  1,065   59   1,879   562  Adjusted cash flows from operations   93,705   107,048   217,540   213,849   Purchases of property and equipment  (9,894)  (9,703)  (22,081)  (18,104)  Intangible asset additions  (9,830)  (8,759)  (18,745)  (19,078) Adjusted Free Cash Flow $73,981  $88,586  $176,714  $176,667   GAAP Cash flows from operations as a % of Non-GAAP Revenue  26.7%  23.0%  32.7%  25.1%  Adjusted Cash flows from operations as a % of Non-GAAP Revenue  29.9%  30.5%  35.0%  31.8%  Adjusted Free Cash Flow as a % of Non-GAAP Revenue  23.6%  25.3%  28.4%  26.2%            Stock-Based Compensation Expense (unaudited)                  Three Months Ended June 30, Six Months Ended June 30,     2019    2020    2019    2020             (in thousands) (in thousands) Cost of revenue $1,301  $1,232  $2,281  $2,490  Research and development  3,914   3,737   7,989   8,393  Sales and marketing  5,216   4,660   8,994   9,133  General and administrative  7,772   3,803   13,970   10,277  Total stock based-compensation $18,203  $13,432  $33,234  $30,293               LogMeIn, Inc.      Condensed Consolidated Statements of Cash Flows (unaudited)      (In thousands)                    Three Months Ended June 30, Six Months Ended June 30,      2019    2020    2019    2020   Cash flows from operating activities         Net income (loss) $(6,522) $19,041  $(15,561) $7,756  Adjustments to reconcile net income (loss) to net cash         provided by operating activities:         Stock-based compensation  18,203   13,432   33,234   30,293  Depreciation and amortization  76,389   69,628   152,333   138,873  Benefit from deferred income taxes  (11,135)  (10,161)  (22,786)  (19,942) Other, net  794   838   1,131   1,359  Changes in assets and liabilities, excluding effect of acquisitions:         Accounts receivable  (1,914)  (2,135)  4,110   (3,121) Prepaid expenses and other current assets  1,894   1,321   4,777   (15,226) Other assets  (6,872)  (12,777)  (13,546)  (17,039) Accounts payable  6,163   (713)  15,507   (9,318) Accrued liabilities  (3,124)  (6,111)  16,226   (2,508) Deferred revenue  6,430   4,129   30,250   52,655  Other long-term liabilities  3,411   4,164   (2,308)  4,873  Net cash provided by operating activities  83,717   80,656   203,367   168,655  Cash flows from investing activities         Purchases of property and equipment  (9,894)  (9,703)  (22,081)  (18,104) Intangible asset additions  (9,830)  (8,759)  (18,745)  (19,078) Acquisition of businesses, net of cash acquired  –   –   (22,463)  –  Net cash provided by (used in) investing activities  (19,724)  (18,462)  (63,289)  (37,182) Cash flows from financing activities         Proceeds from issuance of common stock upon option exercises and employee stock purchase plan  41   6,771   82   6,856  Payments of withholding taxes in connection with restricted stock unit vesting  (9,888)  (11,351)  (17,676)  (13,288) Payment of contingent consideration  (1,857)  –   (1,857)  (1,294) Dividends paid on common stock  (16,182)  –   (32,699)  –  Purchase of treasury stock  (70,164)  –   (124,232)  –  Net cash provided by (used in) financing activities  (98,050)  (4,580)  (176,382)  (7,726) Effect of exchange rate changes on cash, cash equivalents and restricted cash  593   2,288   (792)  (2,375) Net increase (decrease) in cash, cash equivalents and restricted cash  (33,464)  59,902   (37,096)  121,372  Cash, cash equivalents and restricted cash, beginning of period  146,860   191,358   150,492   129,888  Cash, cash equivalents and restricted cash, end of period $113,396  $251,260  $113,396  $251,260

Expanded partnerships with Dolby, Extron, Logitech and Poly bring professional grade audio and video capabilities to today’s anywhere workforceBOSTON, July 22, 2020 (GLOBE NEWSWIRE) — LogMeIn, Inc. (Nasdaq:LOGM) has announced seven new hardware bundles for its GoToRoom huddle, conference and boardroom solution. The new, all-in-one video conferencing offerings from partners Dolby, Logitech and Poly provide flexible choices for home offices to large meeting spaces. In addition, a new partnership with Extron enables custom setups for outfitting corporate board rooms. GoToRoom, launched in March of 2019, has expanded its offerings to include new partnerships and international locations over the past year, and today’s announcement is the largest GoToRoom expansion to date bringing the number of hardware bundles up to ten kits. As businesses increasingly look for ways to support social distancing, a hybrid in-office and work-from-home approach, and limited employee travel, the role of conference rooms and high-quality video enabled spaces has evolved to become more important than ever to maintain business continuity and productivity during uncertain times.All GoToRoom bundles will be available for purchase utilizing the Room-as-a-Service (RaaS) model which LogMeIn launched in 2019. The RaaS model offers businesses the ability to pay a low all-inclusive monthly rate for both the hardware and software, eliminating the need for large upfront costs when outfitting multiple rooms. RaaS model kits start at just $99 per month, plus the cost of a GoToRoom license, and include a full equipment warranty for the length of the contract, and customers own the equipment at the end of the term.“Whether an organization is looking to ‘huddle from home’ by outfitting an executive’s home office with our huddle room kits, create more video-enabled spaces in the office to maintain social distancing policies, or replace business travel with all-day boardroom meetings, our existing and new GoToRoom hardware kits from partners like Dolby, Logitech and Poly, can support all of our customers’ needs,” said Mark Strassman, Senior Vice President and General Manager, UCC at LogMeIn. “As companies around the globe embrace this new work-from-anywhere mentality, our GoToRoom systems are incredibly easy to deploy in just a matter of minutes, available with our popular Room-as-a-Service payment option for all kits and regions, and designed to support a variety of needs and sizes of conference rooms with best-in-class hardware partners and a simple and affordable, but powerful updated user experience.”In addition to the previously available Dolby Voice Room, Poly Studio and Poly Trio 8500 +Eagle Eye 4, new equipment includes: * Dolby Voice Huddle * Dolby Voice Pro * Logitech MeetUp * Logitech Rally * Logitech Rally Plus * Poly Studio X30 * Poly Studio X50 * Extron IP Link Pro control processor and TouchLink Pro touchpanel (for expanded boardroom customization) and DMP Plus“Although many companies now work very differently compared to just a few months ago, meetings will always be an integral part of doing business worldwide,” said Scott Murphy, Director of Cloud, UCC and Cyber Security, Ingram Micro UK&I, a global distributor of LogMeIn’s products and a master cloud service provider (mCSP), offering channel partners and enterprises access to the leading global Cloud commerce platform, expertise, solutions and enabling programs. “Ingram Micro’s partners and their customers continuously seek to improve their operations and services, and we are delighted to sell GoToRoom, as it means that companies can create a high-quality, cutting-edge video-enabled collaboration space, whether it be an executive’s home office or a boardroom. GoTo’s industry leading audio and video hardware options dramatically increase the choice for customers to help them upgrade their meeting space as we move to the next phase in work from anywhere video conferencing.” GoToRoom has also released an updated user experience and user interface including over thirty new features such as dark mode, sleep mode to display if a room is available, revamped meeting controls, meeting lock and more.GoToRoom is available in the United States, the United Kingdom, Germany, Ireland, Austria, France, Italy, Spain, Portugal, Switzerland, the Benelux and Nordic regions, and Australia.Supporting Materials: GoToRoom Landing Page: www.goto.com/room Blog: Rethinking the role of conference rooms post-pandemicAbout LogMeIn's Unified Communications and Collaboration Portfolio A recognized market leader in Unified Communications and Collaboration, LogMeIn has the industry’s most comprehensive portfolio of UCC solutions that create simpler, more intelligent ways for people to meet, connect, market, sell and train, to deepen relationships and drive better outcomes. These include award-winning products under the GoTo portfolio brand, such as GoToMeeting, GoToWebinar, GoToConnect and GoToRoom. LogMeIn’s combined UCC products support over 28 million users per month, with over 1.5 billion conferencing minutes a month contributing to over 8 million meetings per month, and nearly 20 billion voice minutes per year.About LogMeIn, Inc.  LogMeIn, Inc.’s (Nasdaq:LOGM) category-defining products unlock the potential of the modern workforce by making it possible for millions of people and businesses around the globe do their best work, whenever, however, and most importantly, wherever. A pioneer in remote work technology and a driving force behind today’s work-from-anywhere movement, LogMeIn has become one of the world’s largest SaaS companies with tens of millions of active users, more than 3,500 global employees, over $1.2 billion in annual revenue and more than 2 million customers worldwide who use its software as an essential part of their daily lives. The company is headquartered in Boston, Massachusetts with additional locations in North America, South America, Europe, Asia and Australia.Media Contact: Jen Mathews press@logmein.com

BOSTON, July 22, 2020 (GLOBE NEWSWIRE) — LogMeIn, Inc. (Nasdaq: LOGM) today announced that Managed Service Providers (MSPs) worldwide can now sell, manage, and support LastPass Enterprise, its industry-leading password management and single sign-on solution, for their customers. As part of the LogMeIn Partner Network, MSPs can now offer LastPass to their customers as a solution to enable secure access for all online applications. MSPs now have access to new sub-account functionality built directly into LastPass for a single view over multiple, uniquely managed LastPass accounts. As a result, MSPs now have greater visibility and control over every access point of their customer’s business. The LogMeIn Partner Network was launched in 2017 to enable different types of channel partners and distributors to offer LogMeIn products to their respective partners, customers and prospects. LogMeIn provides a portfolio of cloud-based service offerings, which helps people and businesses to connect to their workplace, colleagues and customers. LogMeIn has 17 products available to channel partners, including industry leaders like LastPass, Bold360, GoToMeeting, GoToWebinar, GoToRoom and GoToConnect, as well as LogMeIn Central, Pro and Rescue.“At LogMeIn, we’re lucky to work with best-in-class channel partners to promote our brands and bring our technology, solutions and knowledge to our amazing customers around the world,” said Rick Ribas, vice president of Global Channels. “With 80 percent of data breaches caused by weak or reused passwords, it’s vital for MSPs who remotely manage a customer's IT infrastructure, to deliver an all-in-one solution for single sign-on and password management to meet the security and access needs of their customers. Now they can do so while seamlessly managing their customer LastPass accounts in a single pane of glass.”In addition to MSPs, LastPass also supports referral and reseller partners. For more information how on MSPs can build their cybersecurity solution offering, please visit https://www.lastpass.com/channel-partnersOn Wednesday, July 29th at 1:00pm ET LogMeIn will host a live webinar that will demo the LastPass MSP solution and discuss the benefits of the LogMeIn Partner Network. Click here to register.Resources LastPass Blog Partner with LastPassAbout LastPass For more than 70,000 businesses of all sizes, LastPass reduces friction for employees while increasing control and visibility for IT with an identity and access management solution that’s easy to manage and effortless to use. From single sign-on and enterprise password management to adaptive authentication, LastPass for Business gives superior control to IT and frictionless access to users. For more information, visit https://lastpass.com. LastPass is a trademark of LogMeIn in the U.S. and other countries.About LogMeIn, Inc. LogMeIn, Inc.’s (Nasdaq: LOGM) category-defining products unlock the potential of the modern workforce by making it possible for millions of people and businesses around the globe do their best work, whenever, however, and most importantly, wherever. A pioneer in remote work technology and a driving force behind today’s work-from-anywhere movement, LogMeIn has become one of the world’s largest SaaS companies with tens of millions of active users, more than 3,500 global employees, over $1.2 billion in annual revenue and more than 2 million customers worldwide who use its software as an essential part of their daily lives. The company is headquartered in Boston, Massachusetts with additional locations in North America, South America, Europe, Asia and Australia.Media Contact: Lauren Christopherson press@lastpass.com

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