Table of Contents

UNITED STATES
SECURITIES AND EXCHANGE COMMISSION
WASHINGTON, D.C. 20549

FORM 8-K

CURRENT REPORT
PURSUANT TO SECTION 13 OR 15(d)
OF THE SECURITIES EXCHANGE ACT OF 1934
Date of Report (Date of earliest event reported): April 22, 2013

LogMeIn, Inc.
(Exact Name of Registrant as Specified in Charter)

 
					
Delaware	 	001-34391	 	20-1515952	
(State or Other Jurisdiction of
Incorporation or Organization)	 	(Commission
File Number)	 	(IRS Employer
Identification No.)	

320 Summer Street, Suite 100
Boston, Massachusetts	 	02210	
(Address of principal executive offices)	 	(Zip Code)	
Registrant’s telephone number, including area code: (781)-638-9050
500 Unicorn Park Drive
Woburn, MA 01801
(Former Name or Former Address, if Changed Since Last Report)

Check the appropriate box below if the Form 8-K filing is intended to simultaneously satisfy the filing obligation of the registrant under any of the following provisions (see General Instruction A.2. below):
 
¨	Written communications pursuant to Rule 425 under the Securities Act (17 CFR 230.425)	
 
¨	Soliciting material pursuant to Rule 14a-12 under the Exchange Act (17 CFR 240.14a-12)	
 
¨	Pre-commencement communications pursuant to Rule 14d-2(b) under the Exchange Act (17 CFR 240.14d-2(b))	
 
¨	Pre-commencement communications pursuant to Rule 13e-4(c) under the Exchange Act (17 CFR 240.13e-4(c))	

 

Table of Contents
 TABLE OF CONTENTS

Item 2.02. Results of Operations and Financial Condition	  	 	3	  	
Item 5.02. Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers	  	 	3	  	
Item 9.01. Financial Statements and Exhibits	  	 	3	  	
SIGNATURE	  	 	4	  	
EXHIBIT INDEX	  	 	5	  	
EX-99.1	  				
EX-99.2	  				
 
2

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 Item 2.02.	Results of Operations and Financial Condition	
On April 25, 2013, LogMeIn, Inc. (the “Company”) announced its financial results for the first quarter of fiscal year 2013. The full text of the press release issued in connection with the announcement is furnished as Exhibit 99.1 to this Current Report on Form 8-K.
 
 Item 5.02.	Departure of Directors or Certain Officers; Election of Directors; Appointment of Certain Officers; Compensatory Arrangements of Certain Officers	
Appointment of Named Executive Officer
On April 22, 2013, the Company appointed William R. Wagner its Chief Operating Officer, effective May 6, 2013. Mr. Wagner, age 46, most recently served as the Chief Operating Officer at Vocus, Inc., a leading cloud marketing software provider, from October 2010 to November 2012. Prior to that, Mr. Wagner served as the Chief Marketing Officer at Vocus, Inc. from July 2006 to October 2010. Prior to joining Vocus, Inc., Mr. Wagner served as the Chief Marketing Officer at Fiberlink Communications from February 2000 to June 2006. Mr. Wagner received a B.A. in History from Lafayette College in May 1989 and his M.B.A. from the Wharton School of Business in May 1999. Mr. Wagner has not served as a director of a public company during the past five years.
There are currently no arrangements or understandings between Mr. Wagner and any other person pursuant to which Mr. Wagner was selected as an executive officer. There are no family relationships between Mr. Wagner and any director or other executive officer of the Company, or with any person nominated or chosen to become an officer or a director of the Company. The Company has had no transactions since the beginning of its last fiscal year, and has no transactions currently proposed, in which Mr. Wagner, or any member of his immediate family, has an interest requiring disclosure under Item 404(a) of Regulation S-K.
In connection with his appointment, Mr. Wagner will be entitled to an annual base salary in the amount of $400,000. Mr. Wagner will also be eligible to receive an annual cash bonus of up to $200,000. Mr. Wagner’s eligible bonus payment for the calendar year 2013 will be based on the Company’s achievement of certain performance objectives and company goals and will be prorated according to his official start date of May 6, 2013. Following his appointment, Mr. Wagner will also be granted a stock option for the purchase of 70,000 shares of the Company’s common stock and restricted stock units for 70,000 shares of the Company’s common stock under the Company’s Amended and Restated 2009 Stock Incentive Plan.
A copy of the press release issued by the Company announcing Mr. Wagner’s appointment to Chief Operating Officer is filed as Exhibit 99.2 to this Current Report on Form 8-K.
The information in this Current Report on Form 8-K (including Exhibits 99.1 and 99.2) shall not be deemed “filed” for purposes of Section 18 of the Securities Exchange Act of 1934, as amended (the “Exchange Act”), or otherwise subject to the liabilities of that section, nor shall it be deemed incorporated by reference in any filing under the Securities Act of 1933, as amended, or the Exchange Act, except as expressly set forth by specific reference in such a filing.
 
 Item 9.01.	Financial Statements and Exhibits	
 
 	(d)	Exhibits	
The following exhibit shall be deemed to be furnished, and not filed:

99.1	  	Press release entitled “LogMeIn Announces First Quarter 2013 Results,” issued by the Company on April 25, 2013.	
		
99.2	  	Press release entitled “LogMeIn Names Bill Wagner as COO” issued by the Company on April 25, 2013.	
 
3

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 SIGNATURE
Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized.

	 	LOGMEIN, INC	
			
Date: April 25, 2013	 	By:	 	/s/ Michael K. Simon	
	 		 	Michael K. Simon	
	 		 	President and Chief Executive Officer	
 
4

Table of Contents
 EXHIBIT INDEX

Exhibit
No.	  	Description	
		
99.1	  	Press release entitled “LogMeIn Announces First Quarter 2013 Results,” issued by the Company on April 25, 2013.	
		
99.2	  	Press release entitled “LogMeIn Names Bill Wagner as COO” issued by the Company on April 25, 2013.	
 
5

Exhibit 99.1
LogMeIn Announces First Quarter 2013 Results
Reports Quarterly Revenue of $37.4 Million; Deferred Revenue of $74.1 Million
Increases Full Year Revenue Outlook to $157-$160 Million
Boston, Mass., April 25, 2013 – LogMeIn, Inc. (NASDAQ: LOGM), a leading provider of essential cloud and mobile services, today announced its results for the quarter ended March 31, 2013.
For the first quarter of 2013, total revenue increased 15 percent to $37.4 million from $32.7 million reported in the first quarter of 2012.
Non-GAAP net income for the first quarter of 2013 was $3.1 million, or $0.12 per diluted share. Non-GAAP net income excludes $5.2 million in stock compensation expense, $6.1 million in patent litigation related expense and $1.1 million in acquisition related costs and amortization. This compares to Non-GAAP net income of $3.5 million, or $0.14 per diluted share, reported in the first quarter of 2012.
GAAP net loss for the first quarter of 2013 was $5.8 million, or $0.24 per diluted share, as compared to GAAP net income of $76,000, or $0.00 per diluted share, reported in the first quarter of 2012.
Non-GAAP cash flows from operations for the first quarter of 2013 was $6.0 million, or 16 percent of revenue. The Company closed the quarter with cash, cash equivalents and short-term investments of $205.2 million. Under the Company’s previously announced $25 million share repurchase program, the Company spent approximately $9 million in the quarter to repurchase 500,000 shares at an average price of $18 per share. Additionally, the Company reported total deferred revenue of $74.1 million, an increase of 21 percent from the $61.1 million reported in first quarter of 2012.
A reconciliation of the comparable GAAP financial measures to non-GAAP measures used above is included in the attached tables.
“We had a strong first quarter with new sales and renewals that allowed us to deliver results that exceeded the high-end of our guidance,” said Michael Simon, CEO of LogMeIn. “In addition, we successfully attracted 2.7 million first time users and 37,000 new premium subscribers – both record highs.”
“Our Access & Collaboration business, which includes join.me and Cubby, our new enterprise file syncing and sharing service, was once again our fastest growing business. Meanwhile, a business model change related to our RMM offerings led to significant growth in both premium subscribers and booked sales, and a key win in our Customer Care business – one of the largest deals in company history – helped to deliver greater-than-expected growth during the quarter.”

“Looking ahead to the second quarter and beyond, we expect to build on this momentum by introducing two new cloud offerings – developed on our proven Gravity cloud platform – that we believe will provide a catalyst for accelerating growth in 2013 and beyond. As a result, we’ve increased our full-year outlook,” concluded Simon.
Business Outlook
Based on information available as of April 25, 2013, LogMeIn is issuing guidance for the second quarter 2013 and fiscal year 2013.
Second Quarter 2013 : The Company expects second quarter revenue to be in the range of $39.0 million to $39.5 million.
Non-GAAP net income is expected to be in the range of $2.7 million to $3.0 million, or $0.11 to $0.12 per diluted share. Non-GAAP net income excludes an estimated $5.2 million of stock compensation expense, $500,000 in patent litigation related expenses, and $1.0 million in acquisition related costs and amortization.
Non-GAAP net income for the second quarter assumes an effective tax rate of 50 percent. Non-GAAP net income per diluted share for the second quarter of 2013 is based on an estimated 25.2 million fully-diluted weighted average shares outstanding.
Including stock compensation expense, patent litigation related expenses, and acquisition related costs and amortization we expect to report a GAAP net loss in the range of $2.3 million to $2.6 million, or $0.09 to $0.10 per share.
The GAAP net loss for the second quarter assumes income tax expense of $1.3 million to $1.6 million. GAAP net loss per share for the second quarter of 2013 is based on an estimated 25.2 million weighted average shares outstanding.
Fiscal year 2013 : The Company expects full year 2013 revenue to be in the range of $157.0 million to $160.0 million.
Non-GAAP net income is expected to be in the range of $11.7 million to $12.7 million, or $0.46 to $0.50 per diluted share. Non-GAAP net income excludes an estimated $20.7 million in stock compensation expense, $7.6 million in patent litigation related expenses, and $3.4 million in acquisition related costs and amortization.
Non-GAAP net income for the full fiscal year 2013 assumes an effective tax rate of 50 percent. Non-GAAP net income per diluted share for 2013 is based on an estimated 25.2 million fully-diluted weighted average shares outstanding.

Including stock compensation expense, patent litigation related expenses, and acquisition related costs and amortization, we expect to report a GAAP net loss in the range of $11.0 million to $12.5 million, or $0.44 to $0.50 per share.
The GAAP net loss for the full year assumes income tax expense of $4.2 million to $4.7 million. GAAP net loss per share for 2013 is based on an estimated 25.2 million weighted average shares outstanding.
Conference Call Information for Today, Thursday, April 25, 2013
The Company will host a corresponding conference call and live webcast at 5:00 p.m. Eastern Time today. To access the conference call, dial 877-941-1465 (for the U.S. and Canada) or 480-629-9772 (for international callers). A live webcast will be available on the Investor Relations section of the Company’s corporate website at www.LogMeIn.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 7:00 p.m. Eastern Time on April 25, 2013 until 11:59 p.m. Eastern Time on May 2, 2013, by dialing 800-406-7325 (for the U.S. and Canada) or 303-590-3030 (for international callers) and entering passcode 4613311#.
Non-GAAP Financial Measures
This press release contains non-GAAP financial measures including 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 and non-GAAP cash flow from operations. Non-GAAP operating income excludes acquisition related costs and amortization, stock compensation expense, and patent litigation related expense. Non-GAAP provision for income taxes excludes the tax impact of acquisition related costs and amortization, stock compensation expense, and patent litigation related expense. Non-GAAP net income and non-GAAP net income per diluted share exclude acquisition related costs and amortization, stock compensation expense, and patent litigation related expense. Non-GAAP cash flow from operations excludes payments and receipts related to patent litigation related costs, and acquisition related payments. 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 judgments 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, including this press release, 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 (NASDAQ:LOGM) provides the essential cloud-based collaboration, IT management, and customer service offerings required to empower, manage, secure and support the new mobile workplace. Our solutions are used by tens of millions of professionals to work from virtually anywhere on virtually any Internet-enabled device. Hundreds of thousands of small and medium businesses use our solutions to manage distributed work environments, embrace employee-owned technology in the workplace and facilitate collaboration across distributed teams. Thousands of the world’s premier service providers, including more than 50 of the world’s largest telecom companies, use our solutions to service and support businesses and individual professionals across mobile, social and online channels. The company’s worldwide headquarters is in Boston, Massachusetts, USA with offices in Australia, Hungary, India, Ireland, the Netherlands, and the UK.
Cautionary Language Concerning Forward-Looking Statements
This press release contains “forward-looking statements” within the meaning of the “safe harbor” provisions of the Private Securities Litigation Reform Act of 1995, including but not limited to, statements regarding the popularity, value and effectiveness of the Company’s products, the Company’s intent to expand its portfolio of products and the success of the Company’s products, the Company’s investment in new products, the expected benefits of continued investment in cloud and mobile services, the Company’s growth, including growth in 2013, customer growth, and the Company’s financial guidance for fiscal year 2013 and the second quarter of 2013. 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. Words such as “expect,” “anticipate,” “should,” “believe,” “hope,” “target,” “project,” “goals,” “estimate,” “potential,” “predict,” “may,” “will,” “might,” “could,” “intend,” variations of these terms or the negative of these terms and similar expressions are intended to identify these forward-looking statements. Forward-looking statements are subject to a number of risks and uncertainties, many of which

involve factors or circumstances that are beyond the Company’s control. The Company’s actual results could differ materially from those stated or implied in forward-looking statements due to a number of factors, including but not limited to, dependence on the remote support and software market, customer adoption of the Company’s solutions, the Company’s ability to attract new customers and retain existing customers, adverse economic conditions in general and adverse economic conditions specifically affecting the markets in which the Company operates, intellectual property litigation, the Company’s ability to continue to promote and maintain its brand in a cost-effective manner, the Company’s ability to compete effectively, the Company’s ability to develop and introduce new products and add-ons or enhancements to existing products, the Company’s ability to manage growth, the Company’s ability to attract and retain key personnel, the Company’s ability to protect its intellectual property and other proprietary rights, the result of any pending litigation, and other risks detailed in the Company’s other publicly available filings with the Securities and Exchange Commission. Past performance is not necessarily indicative of future results. The forward-looking statements included in this press release represent the Company’s views as of the date of this press release. The Company anticipates that subsequent events and developments will cause its views to change. The Company undertakes no intention or obligation to update or revise any forward-looking statements, whether as a result of new information, future events or otherwise. These forward-looking statements should not be relied upon as representing the Company’s views as of any date subsequent to the date of this press release.
LogMeIn, LogMeIn Central, LogMeIn Pro, LogMeIn Free, LogMeIn Rescue, LogMeIn Ignition, join.me, Cubby and BoldChat are trademarks or registered trademarks of LogMeIn 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.com

LogMeIn, Inc.
Condensed Consolidated Balance Sheets (unaudited)
(In thousands)

 	  	December 31,
2012	 	 	March 31,
2013	 	
ASSETS	  	 				
Current assets:	  				 				
Cash and cash equivalents	  	$	111,932	  	 	$	104,747	  	
Marketable securities	  	 	100,161	  	 	 	100,493	  	
Accounts receivable, net	  	 	13,231	  	 	 	11,929	  	
Prepaid expenses and other current assets	  	 	3,620	  	 	 	6,474	  	
Deferred income taxes	  	 	3,214	  	 	 	3,214	  	
	  	 	 	 	 	 	 	 	
Total current assets	  	 	232,158	  	 	 	226,857	  	
Property and equipment, net	  	 	6,576	  	 	 	8,481	  	
Restricted cash	  	 	3,807	  	 	 	3,797	  	
Intangibles, net	  	 	6,368	  	 	 	6,253	  	
Goodwill	  	 	18,883	  	 	 	18,712	  	
Other assets	  	 	1,550	  	 	 	3,432	  	
Deferred income taxes	  	 	10,196	  	 	 	10,154	  	
	  	 	 	 	 	 	 	 	
Total assets	  	$	279,538	  	 	$	277,686	  	
	  	 	 	 	 	 	 	 	
LIABILITIES AND EQUITY	  	
Current liabilities:	  				 				
Accounts payable	  	$	7,773	  	 	$	7,216	  	
Accrued liabilities	  	 	16,657	  	 	 	22,432	  	
Deferred revenue, current portion	  	 	65,875	  	 	 	70,762	  	
	  	 	 	 	 	 	 	 	
Total current liabilities	  	 	90,305	  	 	 	100,410	  	
Deferred revenue, net of current portion	  	 	3,774	  	 	 	3,300	  	
Other long-term liabilities	  	 	822	  	 	 	633	  	
	  	 	 	 	 	 	 	 	
Total liabilities	  	 	94,901	  	 	 	104,343	  	
	  	 	 	 	 	 	 	 	
Commitments and contingencies	  				 				
Preferred stock	  	 	—  	  	 	 	—  	  	
Equity:	  				 				
Common stock	  	 	248	  	 	 	249	  	
Additional paid-in capital	  	 	178,546	  	 	 	183,572	  	
Retained earnings	  	 	6,243	  	 	 	436	  	
Accumulated other comprehensive loss	  	 	(400	) 	 	 	(1,934	) 	
Treasury stock	  	 	—  	  	 	 	(8,980	) 	
	  	 	 	 	 	 	 	 	
Total equity	  	 	184,637	  	 	 	173,343	  	
	  	 	 	 	 	 	 	 	
Total liabilities and equity	  	$	279,538	  	 	$	277,686	  	

LogMeIn, Inc.
Condensed Consolidated Statements of Operations (unaudited)
(In thousands, except share and per share data)

 	  	Three Months Ended March 31,	 	
 	  	2012	 	 	2013	 	
Revenue	  	$	32,688	  	 	$	37,437	  	
Cost of revenue	  	 	3,417	  	 	 	4,409	  	
	  	 	 	 	 	 	 	 	
Gross profit	  	 	29,271	  	 	 	33,028	  	
	  	 	 	 	 	 	 	 	
Operating expenses	  				 				
Research and development	  	 	6,220	  	 	 	7,391	  	
Sales and marketing	  	 	16,846	  	 	 	20,568	  	
General and administrative	  	 	4,906	  	 	 	11,520	  	
Amortization of intangibles	  	 	127	  	 	 	179	  	
	  	 	 	 	 	 	 	 	
Total operating expenses	  	 	28,099	  	 	 	39,658	  	
	  	 	 	 	 	 	 	 	
Income (loss) from operations	  	 	1,172	  	 	 	(6,630	) 	
Interest income, net	  	 	215	  	 	 	165	  	
Other (expense) income	  	 	(236	) 	 	 	652	  	
	  	 	 	 	 	 	 	 	
Income (loss) before income taxes	  	 	1,151	  	 	 	(5,813	) 	
Provision for (benefit from) income taxes	  	 	1,075	  	 	 	6	  	
	  	 	 	 	 	 	 	 	
Net income (loss)	  	$	76	  	 	$	(5,807	) 	
	  	 	 	 	 	 	 	 	
Net income (loss) per share:	  				 				
basic	  	$	0.00	  	 	$	(0.24	) 	
diluted	  	$	0.00	  	 	$	(0.24	) 	
Weighted average shares outstanding:	  				 				
basic	  	 	24,573,810	  	 	 	24,704,343	  	
diluted	  	 	25,354,380	  	 	 	24,704,343	  	
	
Calculation of Non-GAAP Operating Income, Non-GAAP Net Income and Non-GAAP Net Income per share (unaudited)
(In thousands, except share and per share data)	  

 	  	Three Months Ended March 31,	 	
 	  	2012	 	 	2013	 	
GAAP Income from operations	  	$	1,172	  	 	$	(6,630	) 	
Add Back:	  				 				
	  	 	 	 	 	 	 	 	
Stock-based compensation expense	  	 	2,984	  	 	 	5,165	  	
Patent litigation related expenses	  	 	148	  	 	 	6,065	  	
Acquisition related costs and amortization	  	 	1,588	  	 	 	1,070	  	
Non-GAAP Operating income	  	 	5,892	  	 	 	5,670	  	
	  	 	 	 	 	 	 	 	
Other income, net	  	 	(21	) 	 	 	817	  	
	  	 	 	 	 	 	 	 	
Non-GAAP Income before provision for income taxes	  	 	5,871	  	 	 	6,487	  	
Non-GAAP Provision for income taxes	  	 	(2,323	) 	 	 	(3,358	) 	

Non-GAAP Net income	  	$	3,548	  	 	$	3,129	  	
	  	 	 	 	 	 	 	 	
Non-GAAP Diluted net income per share:	  	$	0.14	  	 	$	0.12	  	
Diluted weighted average shares outstanding used in computing per share amounts:	  	 	25,354,380	  	 	 	25,192,289	  	
	
Stock-Based Compensation Expense
(In thousands)	  

 	  	Three Months Ended March 31,	 	
 	  	2012	 	 	2013	 	
Stock-based compensation expense:	  				 				
Cost of revenue	  	$	107	  	 	$	203	  	
Research and development	  	 	582	  	 	 	1,017	  	
Sales and marketing	  	 	950	  	 	 	2,081	  	
General and administrative	  	 	1,345	  	 	 	1,864	  	
	  	 	 	 	 	 	 	 	
Total stock based-compensation	  	$	2,984	  	 	$	5,165	  	

LogMeIn, Inc.
Condensed Consolidated Statements of Cash Flows (unaudited)
(In thousands)

 	  	Three Months Ended
March 31,	 	
 	  	2012	 	 	2013	 	
Cash flows from operating activities	  				 				
Net income (loss)	  	$	76	  	 	$	(5,807	) 	
Adjustments to reconcile net income to net cash provided by operating activities:	  				 				
Depreciation and amortization	  	 	1,383	  	 	 	1,704	  	
Amortization of premiums on investments	  	 	11	  	 	 	14	  	
Provision for bad debts	  	 	22	  	 	 	28	  	
Deferred income taxes	  	 	1,008	  	 	 	56	  	
Income tax benefit from the exercise of stock options	  	 	(1,001	) 	 	 	(25	) 	
Stock-based compensation	  	 	2,984	  	 	 	5,165	  	
Gain on disposal of equipment	  	 	(1	) 	 	 	(1	) 	
Changes in assets and liabilities:	  				 				
Accounts receivable	  	 	2,027	  	 	 	1,273	  	
Prepaid expenses and other current assets	  	 	(409	) 	 	 	(2,853	) 	
Other assets	  	 	(152	) 	 	 	(1,882	) 	
Accounts payable	  	 	(1,747	) 	 	 	(1,129	) 	
Accrued liabilities	  	 	526	  	 	 	5,347	  	
Deferred revenue	  	 	2,451	  	 	 	4,413	  	
Other long-term liabilities	  	 	685	  	 	 	(188	) 	
	  	 	 	 	 	 	 	 	
Net cash provided by operating activities	  	 	7,863	  	 	 	6,115	  	
	  	 	 	 	 	 	 	 	
Cash flows from investing activities	  				 				
Purchases of marketable securities	  	 	(54,992	) 	 	 	(50,377	) 	
Proceeds from sale or disposal of marketable securities	  	 	50,000	  	 	 	50,000	  	
Purchases of property and equipment	  	 	(1,339	) 	 	 	(2,155	) 	
Intangible asset additions	  	 	(108	) 	 	 	(542	) 	
Cash paid for acquisition, net of cash acquired	  	 	(14,832	) 	 	 	—  	  	
	  	 	 	 	 	 	 	 	
Net cash used in investing activities	  	 	(21,271	) 	 	 	(3,074	) 	
	  	 	 	 	 	 	 	 	
Cash flows from financing activities	  				 				
Proceeds from issuance of common stock upon option exercises	  	 	475	  	 	 	74	  	
Income tax benefit from the exercise of stock options	  	 	1,001	  	 	 	25	  	
Common stock withheld to satisfy income tax withholdings for restricted stock unit vesting	  	 	—  	  	 	 	(236	) 	
Purchase of treasury stock	  	 	—  	  	 	 	(8,980	) 	
	  	 	 	 	 	 	 	 	
Net cash provided by (used in) financing activities	  	 	1,476	  	 	 	(9,117	) 	
	  	 	 	 	 	 	 	 	
Effect of exchange rate changes on cash and cash equivalents and restricted cash	  	 	701	  	 	 	(1,109	) 	
	  	 	 	 	 	 	 	 	
Net decrease in cash and cash equivalents	  	 	(11,231	) 	 	 	(7,185	) 	
Cash and cash equivalents, beginning of period	  	 	103,604	  	 	 	111,932	  	
	  	 	 	 	 	 	 	 	
Cash and cash equivalents, end of period	  	$	92,373	  	 	$	104,747	  	
	  	 	 	 	 	 	 	 	
Calculation of Non-GAAP Cash Flows from Operating Activities (unaudited)
(In thousands)

 	  	Three Months
Ended March 31,	 	
 	  	2012	 	  	2013	 	
GAAP Cash flows from operating activities	  	$	7,863	  	  	$	6,115	  	
Add Back:	  				  				
	  	 	 	 	  	 	 	 	
Patent litigation related payments	  	 	151	  	  	 	(610	) 	
Acquisition related payments	  	 	121	  	  	 	475	  	
	  	 	 	 	  	 	 	 	
Cash flows from operating activities before patent litigation related payments and acquisition related payments	  	$	8,135	  	  	$	5,980	  	

Exhibit 99.2
LogMeIn Names Bill Wagner as COO
BOSTON, April 25, 2013 – LogMeIn, Inc. (NASDAQ: LOGM), a leading provider of essential cloud and mobile services , today named William “Bill” R. Wagner as the company’s chief operating officer (COO).
A cloud and technology industry veteran, Wagner was most recently COO at Vocus, the cloud-marketing software company, where he led the sales, marketing and services organizations. Prior to that he held several executive marketing and sales roles, including chief marketing officer (CMO) at Vocus, CMO at Fiberlink, a leading enterprise mobile device management (MDM) company, as well as various sales and marketing leadership positions at AT&T.
“We believe Bill’s proven leadership and executive experience will play a key role as we scale our business and enter an exciting new phase of growth for LogMeIn,” said Michael Simon, CEO of LogMeIn. “He provides a natural complement to the strengths of our existing leadership team and brings experience we believe will be highly advantageous as we look to take on some of the most transformative market opportunities in all of technology.”
“With a growing user base of millions, widely beloved products, and an energetic team, LogMeIn has created an amazing foundation upon which to base its next phase of growth. It’s an exciting time to be joining the company,” said Bill Wagner, chief operating officer of LogMeIn. “I believe this new role presents a great and rare opportunity to help a high-growth business firmly establish itself as one of the world’s premier technology companies.”
About LogMeIn, Inc.
LogMeIn (NASDAQ:LOGM) provides the essential cloud-based collaboration, IT management, and customer service offerings required to empower, manage, secure and support the new mobile workplace. Our solutions are used by tens of millions of professionals to work from virtually anywhere on virtually any Internet-enabled device. Hundreds of thousands of small and medium businesses use our solutions to manage distributed work environments, embrace employee-owned technology in the workplace and facilitate collaboration across distributed teams. Thousands of the world’s premier service providers, including more than 50 of the world’s largest telecom companies, use our solutions to service and support businesses and individual professionals across mobile, social and online channels. The company’s worldwide headquarters is in Boston, Massachusetts, USA with offices in Australia, Hungary, India, Ireland, the Netherlands, and the UK.
LogMeIn is a registered trademark of LogMeIn in the U.S. and other countries.
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Media contact:
Craig VerColen
LogMeIn, Inc.
781-897-0696
Press@LogMeIn.com