Upgrades to two of its products, JoinMe and BoldChat, led to strong full-year and fourth quarter sales growth in 2015 for connectivity vendor LogMeIn Inc.
For the fiscal year ended Dec. 31, LogMeIn reported:
- Revenue of $271.6 million, up 22.3% from $222.0 million in fiscal 2014.
- Net income of $14.6 million, up by 82.5% compared with 2014 net income of $8.0 million.
Growth followed an increase in the company’s JoinMe online meetings application, within LogMeIn’s collaboration segment. “JoinMe continued to be our biggest source of growth at about 40% for both the quarter and full year,” president and CEO Bill Wagner told analysts on LogMeIn’s recent earnings call.
New JoinMe features in 2015 included adding video and upgraded mobile apps for Apple Inc.’s iPhone, iPad and Apple Watch, Wagner told analysts.
LogMeIn’s BoldChat live chat application, part of its service business segment, added new application programming interfaces that enable expanded integration with clients’ customer service systems and helped the company add new, larger customers in 2015, Wagner said. He did not disclose the clients or break out BoldChat sales but noted “BoldChat outpaced overall company growth in 2015.”
BoldChat also in 2015 launched a mobile software development kit that it says enables app developers to embed BoldChat into their iOS and Android mobile apps.
There are 88 retailers in the Internet Retailer 2016 Top 1000 that identify BoldChat as their live chat/click-to-call vendor and three customer service software clients. The Top 1000 comprise retailers ranked in Internet Retailer’s Top 500 and Second 500. BoldChat is ranked No. 2 in the live chat/click-to-call category in Internet Retailer’s 2016 Leading Vendors to the Top 1000.
For the fourth quarter, LogMeIn reported:
- Revenue of $76.1 million, up 27.0% from $59.9 million in Q4 2014.
- Net income of $6.2 million, an 87.9% increase compared with net income of $3.3 million.