LogicMark Inc
NASDAQ:LGMK
LogicMark Inc
LogicMark, Inc. provides technology products and services for healthcare applications that enable the Internet of Things (IoT). The company is headquartered in Louisville, Kentucky and currently employs 19 full-time employees. The company went IPO on 2013-08-02. The firm provides technology products and services for healthcare applications. The firm operates in hardware and software security systems and applications. The firm is engaged in the development of products and solutions, including the security, healthcare, financial technology and the Internet of Things (IoT) markets. The firm also manufactures and distributes non-monitored and monitored personal emergency response systems (PERS), health communications devices and IoT technologies that are sold through healthcare durable medical equipment dealers and distributors and monitored security dealers and distributors. PERS devices are used to call for help at home and medical care during an emergency. The company is a way voice communication technology that is incorporated into medical alert pendant for remote monitoring. These devices are also used by a range of patient pool, as well as the general population.
LogicMark, Inc. provides technology products and services for healthcare applications that enable the Internet of Things (IoT). The company is headquartered in Louisville, Kentucky and currently employs 19 full-time employees. The company went IPO on 2013-08-02. The firm provides technology products and services for healthcare applications. The firm operates in hardware and software security systems and applications. The firm is engaged in the development of products and solutions, including the security, healthcare, financial technology and the Internet of Things (IoT) markets. The firm also manufactures and distributes non-monitored and monitored personal emergency response systems (PERS), health communications devices and IoT technologies that are sold through healthcare durable medical equipment dealers and distributors and monitored security dealers and distributors. PERS devices are used to call for help at home and medical care during an emergency. The company is a way voice communication technology that is incorporated into medical alert pendant for remote monitoring. These devices are also used by a range of patient pool, as well as the general population.
Revenue Growth: LogicMark reported third quarter revenue of $2.9 million, up 8% year-over-year, marking increases in 5 of the last 6 quarters.
Strong Margins: Gross margin remained robust at 66%, holding steady year-over-year.
VA and B2B Focus: Sales to VA partners continue to be strong, and the company is deliberately shifting more business to B2B channels and government contracts.
Product Innovation: LogicMark launched new features including medicine reminders and predictive activity metrics, advancing its AI-enabled care platform.
Operating Losses: Operating loss was $1.7 million, a slight increase from last year's $1.6 million loss.
Healthy Liquidity: The company ended the quarter with $11.7 million in total liquidity and no long-term debt.
Stock Ticker Update: LogicMark expects to resume trading under the LGMK symbol around November 17 following a recent reverse stock split.
