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Dec 31, 2023
NXT-ID Q4 2023 Earnings Report
Reported a revenue increase of 13% and a gross profit increase of 21% year-over-year.
Key Takeaways
LogicMark, Inc. reported a strong fourth quarter with a 13% increase in revenue and a 21% increase in gross profit compared to the previous year. The company also launched two new products and expanded its software suite.
Increased fourth-quarter revenues by 13% year-over-year.
Improved gross profit by 21% year-over-year.
Achieved a 66% gross margin in the fourth quarter, an improvement of 450 bps from last year’s fourth quarter.
Launched two new products: Freedom Alert Plus and 4G Freedom Alert Mini.
NXT-ID
NXT-ID
Forward Guidance
LogicMark plans to expand its cellular-based product line and features to provide multi-layer safety support using CPaaS, integrating with third-party connected and wearable devices and services.
Positive Outlook
- Expand cellular-based product line
- Provide multi-layer safety support using CPaaS
- Integrate with third-party connected and wearable devices
- Serve customers at home or on the go
- Utilize leading-edge AI and machine learning tools