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LogicMark (LGMK)
NASDAQ:LGMK
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Earnings Data
Report Date
Apr 08, 2025TBA Not Confirmed
Period Ending
2024 (Q4)Consensus EPS Forecast
-$29.5Last Year’s EPS
-$21.25Same Quarter Last Year
Based on 0 Analysts Ratings
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Earnings Call Summary
Earnings Call Date:Nov 12, 2024
|% Change Since: -66.37%
|Next Earnings Date:Apr 08, 2025
Earnings Call Sentiment|Positive
The earnings call highlighted strong revenue and profit growth, successful product launches, and strategic partnerships, particularly in the veteran community. Despite these positives, the company still faces challenges with net losses and direct-to-consumer sales complexities, specifically with Amazon.Company Guidance
During the third quarter 2024 earnings call for LogicMark, CEO Chia-Lin Simmons and CFO Mark Archer provided guidance highlighting several key metrics. The company reported a 14% increase in revenue, reaching $2.7 million, along with a 13% rise in gross profit to $1.8 million, maintaining a gross margin of 67% for the sixth consecutive quarter. LogicMark's operating expenses for the quarter were $3.4 million, showing a 6% decrease from the previous quarter, and adjusted EBITDA improved to a loss of $785,000 from $1.1 million in the third quarter of 2023. The Freedom Alert Mini product significantly contributed to these results, with sales jumping from 191 units in the prior quarter to over 1,100 units. The company ended the quarter with a cash balance of $5.6 million, bolstered by a secondary offering in August that generated $4.5 million in gross proceeds. LogicMark is focused on operational excellence, expanding its customer base, and leveraging its growing intellectual property portfolio, which now includes 23 patents with a strong emphasis on AI and machine learning.Revenue and Gross Profit Growth
Third quarter revenue increased by 14% to $2.7 million compared to the same period last year, and gross profit improved by 13% to $1.8 million.
Product Success and Feature Expansion
The Freedom Alert Mini saw a growth in sales from 191 units in the second quarter to over 1,100 units in the third quarter. It boasts features like patented fog detection technology, geofencing, 2-way communications, and extended battery life.
Strategic Partnerships
Partnership with Black Knight, a service-disabled, veteran-owned small business, to expand sales and marketing channels, particularly in the veteran community.
Market Opportunities
The independent living market is projected to reach $17.26 billion by 2028, and the personal safety market is projected to reach $33.5 billion by 2030, highlighting significant growth potential.
Improved Financial Management
Operating expenses were virtually flat compared to the same period last year and 6% lower than the second quarter of 2024. Adjusted EBITDA loss improved from $1.1 million to $785,000 year-over-year.
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LGMK Earnings History
The table shows recent earnings report dates and whether the forecast was beat or missed. See the change in forecast and EPS from the previous year.
Beat
Missed
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LGMK Earnings-Related Price Changes
Report Date | Price 1 Day Before | Price 1 Day After | Percentage Change |
|---|---|---|---|
| Nov 12, 2024 | $4.46 | $3.50 | -21.52% |
| Aug 13, 2024 | $4.02 | $3.61 | -10.20% |
| May 16, 2024 | $19.62 | $20.26 | +3.26% |
| Apr 18, 2024 | $20.75 | $21.00 | +1.20% |
Earnings announcements can affect a stock’s price. This table shows the stock's price the day before and the day after recent earnings reports, including the percentage change.
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FAQ
When does LogicMark (LGMK) report earnings?
LogicMark (LGMK) is schdueled to report earning on Apr 08, 2025, TBA Not Confirmed.
What is LogicMark (LGMK) earnings time?
LogicMark (LGMK) earnings time is at Apr 08, 2025, TBA Not Confirmed.
Where can I see when companies are reporting earnings?
You can see which companies are reporting today on our designated earnings calendar.
What companies are reporting earnings today?
You can see a list of the companies which are reporting today on TipRanks earnings calendar.
What is LGMK EPS forecast?
LGMK EPS forecast for the fiscal quarter 2024 (Q4) is -$29.5.
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