Actionable news
0
All posts from Actionable news
Actionable news in LOGM: LogMein, Inc.,

LogMeIn (LOGM) William Raymond Wagner on Q1 2016 Results - Earnings Call Transcript

Q1 2016 Earnings Call

April 28, 2016 5:00 pm ET

Executives

Robert Bradley - Vice President of Investor Relations

William Raymond Wagner - President, Chief Executive Officer & Director

Edward K. Herdiech - Chief Financial Officer

Analysts

Gregg Moskowitz - Cowen & Co. LLC

Matthew George Hedberg - RBC Capital Markets

Ben McFadden - Pacific Crest Securities, Inc.

Tim Klasell - Northland Securities, Inc.

Darren R. Jue - JPMorgan Securities LLC

Operator

Greetings, and welcome to the LogMeIn First Quarter 2016 Earnings Conference Call. With us today are Bill Wagner, President and Chief Executive Officer; Ed Herdiech, Chief Financial Officer; and Rob Bradley, Vice President of Investor Relations. At this time, all participants are in a listen-only mode. A brief question-and-answer session will follow the formal presentation. As a reminder, this conference is being recorded.

It is now my pleasure to introduce your host, Rob Bradley. Thank you Mr. Bradley, you may now begin.

Robert Bradley - Vice President of Investor Relations

Thank you and good afternoon from Boston's Innovation District. We're pleased that you can join us on our earnings conference call to discuss the first quarter of 2016.

Before we begin, let me remind you that some of the statements made during this call may be considered forward-looking statements. These statements include the company's financial guidance for the second quarter and full-year 2016. The company's securities filings identify certain factors that could cause the company's actual results to differ from those projected in any forward-looking statements made on this call.

Any forward-looking statements are made as of the date hereof and are based on current expectations, estimates, forecasts and projections as well as the beliefs and assumptions of management. The company does not undertake to update any forward-looking statements as a result of new information or future events or development. The company's filings are available through the company or online.

During the call, non-GAAP financial measures will be used to provide information pertinent to ongoing business performance. Our non-GAAP results are more representative of how we internally measure the business. These non-GAAP financial measures exclude stock-based compensation expense, litigation-expense and acquisition-related costs and amortization. These numbers are reconciled in the tables attached to our press release. With the exception of revenue, all metrics will be non-GAAP unless specified.

Now, I'll turn the call over to our CEO, Bill Wagner. Bill?

William Raymond Wagner - President, Chief Executive Officer & Director

Thanks Rob. Good afternoon and thank you for joining us today as we report LogMeIn's first quarter 2016 result. I'm happy to report that we had an outstanding Q1, and a strong start to the year. Revenue, adjusted EBITDA and earnings per share were all above the high end of our guidance. Most of all, I'm pleased that these results were driven by strength in each and every one of our core businesses.

Total revenue for the quarter was $79.7 million, $1.7 million above the high end of our guidance. This represents 30% year-over-year growth. Adjusted EBITDA in Q1 was $16.6 million or 21% of revenue. And our cash flow was strong too as we generated $38 million in operating cash flow or 48% of revenue.

During the first quarter, each of our businesses are clouds grow in double digit. Not only was this the first time that that has happened since 2014, but based on what we saw in Q1, we expect that trend to continue throughout the rest of the year.

Furthermore, all of our critical growth drivers grew well above the company average. We believe this bodes well for 2016 and beyond. Given its very strong start, we are raising our revenue guidance for the full year.