LogicMark, Inc. Reports Earnings Results for the Full Year Ended December 31, 2023
April 16, 2024 at 03:43 pm EDT
Share
LogicMark, Inc. reported earnings results for the full year ended December 31, 2023. For the full year, the company reported sales was USD 9.93 million compared to USD 11.92 million a year ago. Net loss was USD 14.55 million compared to USD 6.92 million a year ago.
Basic loss per share from continuing operations was USD 11.66 compared to USD 15.15 a year ago.
LogicMark, Inc. provides personal emergency response systems (PERS), health communications devices, and Internet of Things (IoT) technology that creates a connected care platform. The Companyâs devices provide people with the ability to receive care at home and age independently. Its PERS devices incorporate two-way voice communication technology directly in the medical alert pendant. These PERS technologies are sold direct-to-consumer through the Companyâs e-commerce Website, through dealers and distributors, as well as through the United States Veterans Health Administration (VHA). It provides no monthly fee products, which only require a one-time purchase expense, instead of a contract with recurring monthly charges. Its no monthly fee products contact family, friends, or 911 directly, eliminating the recurring monthly fee from a monitoring center. The Companyâs PERS products include Guardian Alert 911 Plus, Freedom Alert Plus, Guardian Alert 911, and LifeSentry.