Small-cap stock expert Jim Oberweis eyes a cloud-based technology company focused on online collaboration and customer service; here’s the latest from the editor of The Oberweis Report.

LogMeIn (LOGM) provides a portfolio of secure, easy-to-use cloud-based offerings aimed at addressing the evolving needs of businesses, their employees, and their customers in today’s universally connected world.

LogMeIn offers free versions of certain services to attract a wide audience of users, and offers premium versions of these services as a means of converting a percentage of this audience into paying subscribers.

Free offerings include Cubby and join.me, which workers use to collaborate with colleagues and customers, as well as Xively, which can be used by product developers to manage the data and functions of Internet connected, sensor-enabled offerings.

All of these free offerings have corresponding subscription-based premium versions that include additional functionality.

LogMeIn also offers fee-based—or premium—services that can be easily accessed by users via time-bound free trials. The majority of these premium services are sold on an annual or monthly subscription basis.

Premium service offerings include BoldChat and LogMeIn Rescue, which are used by service professionals to deliver customer service and support for their end customers, and LogMeIn Pro and LogMeIn Central, which are used by IT professionals for remote device management, security, and data protection.

In the company’s latest reported second quarter, sales increased approximately 35% to $55.0 million from $40.7 million in the second quarter of last year. LogMeIn reported earnings per share of $0.29 in the latest reported second quarter versus $0.13 in the same quarter of last year.

Clients of Oberweis Asset Management own approximately 192,000 shares. These shares may be appropriate for risk oriented investors.

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