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Jun 30, 2022
NXT-ID Q2 2022 Earnings Report
Reported a revenue increase driven by improved sales to VA hospitals and clinics, and from replacement sales of 4G Guardian Alert 911 Plus devices.
Key Takeaways
LogicMark, Inc. reported a 21% increase in revenue for the second quarter ended June 30, 2022, driven by improved sales to VA hospitals/clinics and replacement sales. The company's net loss was $1.2 million, or $0.13 per share.
Revenue for the second quarter ended June 30, 2022, was $3.4 million, up 21% over the year-ago period.
Gross profit for the second quarter increased 17% over the year-ago period.
Net loss applicable to Common shareholders in the second quarter was $1.2 million, or $0.13 per share versus a net loss of $1.2 million or $0.22 per share in the prior-year period.
Cash balance as of June 30, 2022 was $11.1 million versus $12.0 million at December 31, 2021.
NXT-ID
NXT-ID
Forward Guidance
LogicMark is on track with expanding its product and service offerings which it expects will diversify revenue generation and continue to drive steady growth and increase margins.