LogicMark Q2 revenue down to $2.3M; gross margin improves to 69%

LogicMark, Inc.

2023-Q2 EPS reported -$3.73 revenue$5,136,713

Revenue $2.3M vs $3.4M YoY; drop due to end of 3G replacement cycle.
Gross margin 69% vs 59% YoY on supply chain improvements.
Net loss $2.3M ($1.83 diluted EPS) vs $1.2M ($2.50 EPS) in prior year.
Cash balance $7.6M at June 30, 2023, up from $7.0M at Dec. 31, 2022.
New Freedom Alert Plus PERS with fall detection in pre-order; shipments expected by month-end.

item 2.02 item 7.01 item 9.01

Key facts

Extracted from this filing and checked against the source text.

Earnings Releases SEC 8-K Item 2.02 confidence 0.9

LogicMark, Inc. reported quarter ended June 30, 2023 results: revenue $2.3 million.

Period: quarter ended June 30, 2023
Revenue: $2.3 million
Result: reported results

Exact text from the filing

30, 2023, and recent operating highlights. Summary: ● Gross margin in the second quarter of 2023 improved to 69%, compared with 59% for the prior year period. ● Revenues were $2.3 million, compared with $3.4 million for the prior year period. ● Cash balance on June 30, 2023, was $7.6 million, compared to $7.0 million at year-end 2022. ● Pre-orders are now underway

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Source: SEC EDGAR

accession 0001213900-23-071015

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