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WIKI ANALYSISLogMeIn creates and sells remote connectivity software that allows users to access their desktop remotely from other computers and mobile devices.
Business Overview
Business & Financial Metrics[1]
In 2009, LOGM generated a net income of $7.5 million on $74.4 million in total revenues. This represents the company's first profitable year since its inception and a real turnaround from 2008, when the company incurred a net loss of $7.8 million on revenues of $51.7 million.
Business Segments[2]
LOGM has one reportable operating segment which develops and markets mobile computing applications.
Key Trends & Forces
Cloud Computing
LOGM's profitability is based on the demand for remote desktop accessibility by individuals and businesses. The trend towards a worldwide cloud computing model means that this demand is increasing. With that increased demand, however, comes an increase in both direct and indirect competitors. For example, Google's offerings like Google Docs eliminates the need for users to access files saved on their computers by saving files online and making them accessible with nothing more than a web browser and an internet connection - Google Doc users might not find the need to access their desktops remotely because the files they need are stored on Google's servers.
Competition
LOGM's direct competitors, like Citrix Systems's GoToMyPC, offer software that provides similar functionality to LogMeIn. Indirect competitors offer products that may undermine LOGM's software and eliminate the need for remote desktop access altogether - companies like Google that promote cloud computing threaten demand for LOGM's products.
References
- ↑ LOGM 2009 10-K pg. 29
- ↑ LOGM 2009 10-K pg. 11
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