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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.
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.
Historical Earnings Impact
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Avg. Return Before/After Earnings
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