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LogicMark, Inc. - LGMK STOCK NEWS

Welcome to our dedicated page for LogicMark news (Ticker: LGMK), a resource for investors and traders seeking the latest updates and insights on LogicMark stock.

LogicMark, Inc. (Nasdaq: LGMK) is a leading provider of personal emergency response systems (PERS), health communications devices, and innovative IoT technologies aimed at enhancing the well-being of individuals, particularly aging adults. Founded over 15 years ago, LogicMark revolutionized the PERS industry by incorporating two-way voice communication technology directly into its medical alert pendants, offering life-saving technology at an affordable price.

The company's core business revolves around creating a Connected Care Platform that enables individuals to receive care at home and maintain their independence. Their product lineup includes the acclaimed Freedom Alert Plus, a device with fall detection and Wi-Fi connectivity, and the new 4G Freedom Alert Mini, which offers GPS location services for on-the-go safety.

LogicMark's products are available through various channels, including the United States Veterans Health Administration, dealers, distributors, and direct-to-consumer sales. The company has secured a contract with the U.S. General Services Administration, allowing it to distribute products to federal, state, and local governments.

Recent financial reports highlight LogicMark's strong performance, with significant improvements in gross profit margins and a decrease in operating expenses. The company's strategic focus on supply chain efficiency and product innovation has driven these positive financial outcomes.

Under the leadership of CEO Chia-Lin Simmons, LogicMark continues to expand its product portfolio and enter new market verticals. The upcoming launch of the Aster software application, available on the Apple and Google Play Stores, exemplifies their commitment to leveraging AI and machine learning to enhance the quality of life for users.

With a mission to let people of all ages lead a life with dignity, independence, and the joy of possibility, LogicMark is dedicated to building a 'Care Village' that supports users' safety, connectivity, and well-being through cutting-edge technology and user-centric solutions.

News

LogicMark Expands Product Suite with the Launch of Freedom Alert Mini

Rhea-AI Summary
LogicMark, Inc. (Nasdaq: LGMK) announced the launch of its new mobile medical alert device, Freedom Alert Mini, offering fall detection, GPS location, and 4G LTE connectivity for increased independence and flexibility for seniors. The device aims to meet the evolving needs of today’s seniors and their caregivers, providing essential safety features and reliable communication with caregivers or emergency services.
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LogicMark Empowers Veterans and Their Families this Veterans Day with Donation to the Bob Woodruff Foundation

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LGMK - LogicMark, Inc. Announces Commitment to Donate to Bob Woodruff Foundation, Supporting Veterans with Guardian Alert 911 Plus Devices
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LogicMark, Inc. Reports Third Quarter Results Highlighted by Five Percentage Point Increase in Gross Margin

Rhea-AI Summary
LogicMark, Inc. (Nasdaq: LGMK) announced improved gross margin percentage, lower operating expenses, and the launch of a new PERS device. The company also reported shipments of Freedom Alert Plus PERS and the addition of two new board members. The financial results for the third quarter ended September 30, 2023, showed a 5% increase in gross margin percentage, with revenues of $2.4 million and overall operating expenses 12% lower at $3.4 million. Cash and cash equivalents were $6.7 million. The company is preparing for the launch of a new PERS device in the coming weeks, following the successful launch of the new Freedom Alert Plus.
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LogicMark Expands its Board of Directors by Naming Carine Schneider and Tom Wilkinson as Company’s Innovative Product Pipeline Continues to Grow (Updated with Additional Details)

Rhea-AI Summary
LogicMark, Inc. announced the addition of Carine Schneider and Tom Wilkinson to its Board of Directors. Schneider has extensive experience in the private market and global compensation industry, while Wilkinson is a professional advisor and consultant with expertise in turnarounds, M&A, and business growth. Both new members bring valuable skills and knowledge to support LogicMark's vision of transforming the care economy. Schneider will lead the Compensation committee, and Wilkinson will serve on the Audit and Compensation Committees.
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Carine Schneider and Tom Wilkinson Join LogicMark’s Board of Directors to Help Accelerate Growth

Rhea-AI Summary
LogicMark, Inc. announced the addition of Carine Schneider and Tom Wilkinson to its Board of Directors. Schneider brings extensive experience in the private market and global compensation industry, while Wilkinson has expertise in turn around, M&A, and business growth advisory services. Their appointment aligns with LogicMark's vision to transform the care economy and improve safety and quality of life.
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LogicMark Begins Shipping New Freedom Alert Plus Devices, Complemented by New Cloud-Based Suite of Connected Care Services

Rhea-AI Summary
LogicMark, Inc. has announced shipments of its new medical alert device, Freedom Alert Plus, and the launch of its Care Village platform. The platform provides connected care services for seniors and includes emergency alert notifications and remote device monitoring. LogicMark aims to cater to the needs of seniors who want to age in place by providing relevant data and connectivity with caretakers. Freedom Alert Plus features fall detection and cloud-based software updates. The device is available for $24.99 per month with a free 90-day trial of fall detection.
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LogicMark, Inc. to Announce Third Quarter 2023 Financial Results on November 9, 2023

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LogicMark, Inc. will announce financial results for Q3 2023 on November 9, 2023. CEO and CFO will host an investor call and webcast to review the results.
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LogicMark Signs Manufacturing Agreement with U.S. based AQS to Provide New PERS Devices to the Care Economy

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LogicMark announces agreement with AQS to manufacture new hardware devices, diversify risk, and meet customer demand for 'Made in USA' products.
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LogicMark, Inc. Discusses Its Role in The Fundamental Shift of The PERS and Care Industry with The Stock Day Podcast

Rhea-AI Summary
LogicMark, Inc. announces the launch of a new hardware product in the PERS industry, representing the launch of three products on a cloud-based system. The company aims to bring connective technology to those who need to live independently, addressing the growing market of Americans aged 65 and over. LogicMark also introduces Freedom Alert Plus, a proprietary system that updates the hardware of older devices to allow access to new features through Over-The-Air (OTA) updates. This innovation could spark the imaginations of the rest of the industry.
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Modivcare Announces Barbara Gutierrez to Join as Chief Financial Officer

Rhea-AI Summary
Barbara Gutierrez appointed as Chief Financial Officer of Modivcare, expected to start on September 18, 2023. Her financial leadership experience and healthcare industry background align with Modivcare's strategy and vision. Expected to drive improved financial performance and support the delivery of unique supportive care services. Ms. Gutierrez has more than three decades of experience in executive and financial leadership roles. She has expertise with high-growth companies and has led transformational business initiatives and strategic acquisitions. She is a member of the Board of Directors for LogicMark, Inc. and chairs the Audit Committee. No concrete positive or negative impacts on stock price identified.
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FAQ

What is the current stock price of LogicMark (LGMK)?

The current stock price of LogicMark (LGMK) is $1.63 as of December 24, 2024.

What is the market cap of LogicMark (LGMK)?

The market cap of LogicMark (LGMK) is approximately 3.3M.

What does LogicMark, Inc. specialize in?

LogicMark, Inc. specializes in personal emergency response systems (PERS), health communications devices, and IoT technologies to support independent living.

How does LogicMark's technology enhance user safety?

LogicMark's technology incorporates two-way voice communication and fall detection in their medical alert devices, providing immediate access to emergency services and caregivers.

Where can LogicMark’s products be purchased?

LogicMark’s products can be purchased through the United States Veterans Health Administration, authorized dealers and distributors, direct-to-consumer channels, and their eCommerce site.

What is the Freedom Alert Plus?

Freedom Alert Plus is a Wi-Fi enabled PERS device with fall detection and two-way voice communication, designed to ensure safety and connectivity at home.

What is the Freedom Alert Mini?

Freedom Alert Mini is a compact, mobile PERS device with GPS location services and 4G LTE connectivity, offering safety and independence on the go.

What recent achievements has LogicMark reported?

Recent achievements include increased gross profit margins, the launch of new products like Freedom Alert Plus and 4G Freedom Alert Mini, and the planned release of the Aster software application.

Who are the leaders at LogicMark, Inc.?

Chia-Lin Simmons serves as the CEO, and Mark Archer is the CFO of LogicMark, Inc.

What is LogicMark’s mission?

LogicMark's mission is to let people of all ages lead a life with dignity, independence, and the joy of possibility by leveraging innovative care technology.

How does LogicMark support its products?

LogicMark provides 24/7 monitoring services, regular software updates, and extensive customer support to ensure the reliability and effectiveness of their products.

Where can I find more information about LogicMark?

More information about LogicMark can be found on their corporate website, logicmark.com, and their investor relations website, investors.logicmark.com.

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LogicMark, Inc.

Nasdaq:LGMK

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3.32M
2.02M
71.98%
7.86%
32.1%
Health Information Services
Orthopedic, Prosthetic & Surgical Appliances & Supplies
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