For the third quarter of 2009, LogMeIn reported total revenue of $19.0 million, an increase of 32% over $14.4 million in total revenue reported in the third quarter of 2008. Net income for the third quarter of 2009 increased to $1.9 million, from net income of $9,000 reported in the third quarter of 2008. Net income attributable to common shareholders for the third quarter of 2009 increased to $0.07 per diluted share from a net loss attributable to common shareholders of $0.15 per diluted share reported in the third quarter of 2008.

Non-GAAP net income for the third quarter of 2009 increased to $2.9 million, or $0.12 per diluted share, from non-GAAP net income of $867,000, or $0.05 per diluted share, for the comparable period in 2008. Non-GAAP net income excludes $186,000 in amortization of intangibles and $901,000 in stock compensation expense for the third quarter of 2009, and $186,000 in amortization of intangibles and $672,000 of stock compensation expense for the third quarter of 2008. A reconciliation of the most comparable GAAP financial measure to the non-GAAP measure used above is included in the attached tables.

LogMeIn generated $7.1 million of operating cash flow in the third quarter of 2009 as compared to operating cash flow of $4.3 million generated in the same period of the prior year. The Company closed the third quarter of 2009 with cash and cash equivalents of $121.0 million, up $90.9 million over the prior quarter, which includes $84.5 million in net proceeds from its initial public offering on July 1, 2009.

"We are pleased to report another successful quarter of revenue growth and operational execution, delivering results that were ahead of the outlook we provided last quarter," commented Michael Simon, President and CEO of LogMeIn, Inc. "We are particularly pleased with sales generated from the recent release of LogMeIn Central, a web-based console that complements LogMeIn Pro2, Hamachi2 and Free products. While it is early in the release and sales cycle for LogMeIn Central, we are encouraged by the initial adoption of Central by both our premium and free users. Additionally, we had a substantial increase in the number of users of LogMeIn Ignition for iPhone, a top-grossing business productivity application on the App Store."

"As we look ahead, we will remain focused on aggressively selling our broad range of solutions to our existing user base, attracting new users, expanding our channels and developing innovative solutions for our small to medium size business customers. We believe that LogMeIn is well positioned in the market and are optimistic about our business in 2010 and beyond," concluded Simon.

For the nine months ended September 30, 2009, LogMeIn reported total revenue of $54.2 million, an increase of 52% over $35.7 million in revenue reported in the comparable period of 2008. Net income for the first nine months of 2009 improved to $6.3 million from a net loss of $6.6 million in the comparable period of 2008. Net income attributable to common shareholders for the first nine months of 2009 increased to $0.27 per diluted share from a net loss attributable to common shareholders of $2.15 per diluted share in the comparable period of 2008.

Non-GAAP net income for the first nine months of 2009 increased to $9.0 million, or $0.45 per diluted share, from a non-GAAP net loss of $4.1 million, or $0.25 per diluted share, in the comparable period of 2008. Non-GAAP net income excludes $557,000 in amortization of intangibles and $2.1 million in stock compensation expense for the first nine months of 2009 and $557,000 in amortization of intangibles and $2.0 million in stock compensation expense in the comparable period of 2008. A reconciliation of the most comparable GAAP financial measure to the non-GAAP measure used above is included in the attached tables.

Business Outlook

Based on information available as of October 28, 2009, LogMeIn is issuing guidance for the fourth quarter and full year 2009 as follows:

Fourth Quarter 2009: The Company expects fourth quarter revenue to be in the range of $19.6 million to $19.9 million.

Non-GAAP net income is expected to be in the range of $2.7 million to $3.0 million and non-GAAP net income per diluted share to be in the range of $0.11 to $0.12. Non-GAAP net income excludes an estimated $186,000 in amortization of intangibles and $600,000 in stock compensation expense.

Net income per diluted share calculations for the fourth quarter of 2009 are based on estimated fully-diluted weighted average shares outstanding of 24.5 million shares.

Full Year 2009: The Company expects full year 2009 revenue to be in the range of $73.8 million to $74.1 million.

Non-GAAP net income is expected to be in the range of $11.7 million to $12.0 million and non-GAAP net income per diluted share to be in the range of $0.55 to $0.56. Non-GAAP net income excludes an estimated $743,000 in amortization of intangibles and $2.7 million in stock compensation expense.

Net income per diluted share calculations for the full year 2009 are based on estimated fully-diluted weighted average shares outstanding of 21.3 million shares which includes all of the outstanding preferred stock on an as converted basis for the full year.

Conference Call Information for Today, Wednesday, October 28, 2009

LogMeIn will host a corresponding conference call and live webcast at 5:00 p.m. Eastern Time today. To access the conference call, dial 888-549-7704 (for the U.S. and Canada) or 480-629-9860 (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 October 28, 2009 until 11:59 p.m. Eastern Time on November 5, 2009, by dialing 800-406-7325 (for the U.S. and Canada) or 303-590-3030 (for international callers) and entering passcode 4171251#.

Non-GAAP Financial Measures

This press release contains non-GAAP financial measures: non-GAAP operating income, non-GAAP net income and non-GAAP net income per share. Non-GAAP operating income excludes the amortization of intangibles and stock compensation expense. Non-GAAP net income and non-GAAP net income per share exclude the amortization of intangibles, stock compensation expense and expenses related to the accretion of redeemable convertible preferred stock. LogMeIn believes that these non-GAAP measures of financial results provide useful information to management and investors regarding certain financial and business trends relating to LogMeIn'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.