Loading...
•
Mar 31, 2022
NXT-ID Q1 2022 Earnings Report
Reported strong revenue growth and margin expansion due to US Veterans Health Administration business and 4G device upgrades.
Key Takeaways
LogicMark, Inc. reported a strong start to the year with a 50% increase in revenues and expanding margins. The growth was driven by the US Veterans Health Administration business and the upgrade to 4G compatible devices.
Revenues grew by 50% due to strong growth in the US Veterans Health Administration business.
Margins expanded during the quarter.
Sales were positively impacted by the sunsetting of 3G cellular service, driving sales of 4G devices.
The company plans to launch an e-commerce platform and new at-home and on-the-go products.
NXT-ID
NXT-ID
Forward Guidance
LogicMark anticipates launching an e-commerce platform, new products, and adding monitored service to implement a recurring revenue model.
Positive Outlook
- Launch of an e-commerce platform to support direct-to-consumer efforts.
- Launch of new at-home and on-the-go products and solutions.
- Addition of monitored service to implement a recurring revenue element.
- Strong growth in US Veterans Health Administration business
- Sales positively impacted by the sunsetting of 3G cellular service