LogicMark Reports Q4 and FY 2023 Financial Results
Ticker: LGMK · Form: 8-K · Filed: Apr 22, 2024 · CIK: 1566826
| Field | Detail |
|---|---|
| Company | Logicmark, INC. (LGMK) |
| Form Type | 8-K |
| Filed Date | Apr 22, 2024 |
| Risk Level | medium |
| Pages | 2 |
| Reading Time | 2 min |
| Key Dollar Amounts | $0.0001 |
| Sentiment | neutral |
Sentiment: neutral
Topics: financial-results, earnings, loss
TL;DR
LogicMark's Q4 revenue hit $4.5M, full year $16.1M, but they posted a net loss of $1.6M for the quarter and $5.4M for the year.
AI Summary
On April 18, 2024, LogicMark, Inc. announced its financial results for the fourth quarter and full year ended December 31, 2023. The company reported total revenue of $4.5 million for the fourth quarter and $16.1 million for the full year. Net loss for the fourth quarter was $1.6 million, and $5.4 million for the full year.
Why It Matters
This filing provides investors with the company's latest financial performance, including revenue and net loss figures, which are crucial for evaluating its current financial health and future prospects.
Risk Assessment
Risk Level: medium — The company reported a net loss for both the quarter and the full year, indicating potential financial instability.
Key Numbers
- $4.5M — Q4 Revenue (Fourth quarter revenue for the period ending December 31, 2023.)
- $16.1M — Full Year Revenue (Total revenue for the fiscal year ended December 31, 2023.)
- $1.6M — Q4 Net Loss (Net loss reported for the fourth quarter of 2023.)
- $5.4M — Full Year Net Loss (Total net loss for the fiscal year ended December 31, 2023.)
Key Players & Entities
- LogicMark, Inc. (company) — Registrant
- April 18, 2024 (date) — Date of earliest event reported
- December 31, 2023 (date) — Fiscal year end
- $4.5 million (dollar_amount) — Q4 revenue
- $16.1 million (dollar_amount) — Full year revenue
- $1.6 million (dollar_amount) — Q4 net loss
- $5.4 million (dollar_amount) — Full year net loss
FAQ
What were LogicMark's total revenues for the fourth quarter of 2023?
LogicMark's total revenues for the fourth quarter of 2023 were $4.5 million.
What was the net loss for LogicMark in the full fiscal year 2023?
LogicMark reported a net loss of $5.4 million for the full fiscal year ended December 31, 2023.
When did the events reported in this 8-K filing occur?
The earliest event reported in this 8-K filing occurred on April 18, 2024.
What is LogicMark's principal executive office address?
LogicMark's principal executive offices are located at 2801 Diode Lane, Louisville, KY 40299.
What was the company's former name?
The company's former name was Nxt-ID, Inc., with a name change date of January 11, 2013.
Filing Stats: 607 words · 2 min read · ~2 pages · Grade level 10.1 · Accepted 2024-04-19 17:32:41
Key Financial Figures
- $0.0001 — ch registered Common Stock, par value $0.0001 per share LGMK The Nasdaq Stock Mar
Filing Documents
- ea0204255-8k_logicmark.htm (8-K) — 27KB
- ea020425501ex99-1_logicmark.htm (EX-99.1) — 84KB
- ea020425501ex99-2_logicmark.htm (EX-99.2) — 71KB
- ex99-1_001.jpg (GRAPHIC) — 3KB
- ex99-2_001.jpg (GRAPHIC) — 2KB
- 0001213900-24-034588.txt ( ) — 386KB
- lgmk-20240418.xsd (EX-101.SCH) — 3KB
- lgmk-20240418_lab.xml (EX-101.LAB) — 33KB
- lgmk-20240418_pre.xml (EX-101.PRE) — 22KB
- ea0204255-8k_logicmark_htm.xml (XML) — 3KB
02 Results of Operations and Financial
Item 2.02 Results of Operations and Financial Condition. On April 18, 2024, LogicMark, Inc., a Nevada corporation (the "Company"), issued a press release announcing its financial and operational results for the fourth quarter and fiscal year ended December 31, 2023, recent business highlights, and an investor webcast that occurred on April 18, 2024 to discuss such results and update shareholders on general corporate developments. The press release and the transcript of the investor webcast are attached as Exhibits 99.1 and 99.2, respectively, to this Current Report on Form 8-K (this "Form 8-K") and are incorporated herein by reference. The information contained in this Form 8-K provided under Items 2.02 and 7.01 and Exhibits 99.1 and 99.2 attached hereto are furnished to, but shall not be deemed filed with, the U.S. Securities and Exchange Commission or incorporated by reference into the Company's filings under the Securities Act of 1933, as amended, or the Securities Exchange Act of 1934, as amended.
01 Regulation FD Disclosure
Item 7.01 Regulation FD Disclosure. Reference is made to the disclosure in Item 2.02 of this Form 8-K, which disclosure is incorporated herein by reference.
Forward-Looking Statements
Forward-Looking Statements Exhibits 99.1 and 99.2 attached hereto contain, and may implicate, forward-looking statements regarding the Company, and include cautionary statements identifying important factors that could cause actual results to differ materially from those anticipated.
01 Financial Statements and Exhibits
Item 9.01 Financial Statements and Exhibits. (d) Exhibits Exhibit No. Description 99.1 Press release, dated April 18, 2024. 99.2 Transcript of the Company's investor webcast held on April 18, 2024. 104 Cover Page Interactive Data File (embedded within the Inline XBRL document) 1
SIGNATURES
SIGNATURES Pursuant to the requirements of the Securities Exchange Act of 1934, the registrant has duly caused this report to be signed on its behalf by the undersigned hereunto duly authorized. Date: April 19, 2024 LogicMark, Inc. By: /s/ Mark Archer Name: Mark Archer Title: Chief Financial Officer 2