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Dec 31, 2021
NXT-ID Q4 2021 Earnings Report
Announced fourth quarter and full year 2021 financial and operational results.
Key Takeaways
LogicMark announced its Q4 and full year 2021 financial results, highlighting a transition period with a focus on building a growth-oriented technology platform and addressing leadership, financial, and operational weaknesses. The company is focused on its Caring Platform as a Service (CPaaS) strategy and has been actively working on the 3G transition in partnership with the Veterans Administration.
Transitioned to a growth-oriented technology platform.
Addressed leadership, financial, and operational weaknesses.
Focused on Caring Platform as a Service (CPaaS) strategy.
Actively working on the 3G transition in partnership with the Veterans Administration.
NXT-ID
NXT-ID
Forward Guidance
LogicMark anticipates positive sales impact in Q1 2022 from strong demand for 4G products due to the 3G network phase-out. Plans include launching new business partnerships, products, and a direct-to-consumer e-commerce website in Q2 2022 to supplement existing solutions. New software and personal safety services will broaden health communications software beyond veterans and the elderly.
Positive Outlook
- Strong demand for 4G products expected to positively impact sales in Q1 2022.
- Plans to launch new business partnerships in Q2 2022.
- New products are planned for launch in Q2 2022.
- E-commerce website targeted at the direct-to-consumer market planned for Q2 2022.
- New software and personal safety services will broaden health communications software.