Core Insights - LogicMark, Inc. has launched the next generation of its best-selling medical alert device, Guardian Alert 911 Plus, featuring enhanced fall detection and a modern design [1][2] - The company aims to expand its presence in the care economy by providing accessible and easy-to-use products for a broad range of consumers [2][5] Product Features - The Guardian Alert 911 Plus integrates 4G LTE technology, fall detection, and a smaller, more convenient form factor, allowing for direct communication with emergency services [3][4] - The device offers hands-free fall detection, ensuring that help is summoned even if the user is unable to press the button [6][10] - It eliminates recurring monthly subscription fees, making it more affordable for aging adults and those with medical conditions [5][10] Market Context - According to the CDC, one in four adults over 65 experiences falls each year, highlighting the necessity for fall detection in medical alert devices [4] - LogicMark's solution addresses a critical gap in the market by providing an innovative safety solution without the barriers of traditional subscription models [5][9] Company Mission - LogicMark is dedicated to enabling individuals of all ages to lead lives with dignity and independence through its Connected Care Platform [8] - The company is focused on building a 'Care Village' with proprietary technology to meet consumer needs in the care economy [9]

Core Insights - LogicMark, Inc. has announced an expansion of access to its Personal Emergency Response Systems (PERS) through the Medicaid Waiver program in several states, allowing eligible seniors to receive reimbursement for monthly monitoring fees [1][2][3] Group 1: Program Details - The new program will enable seniors in Colorado, Oregon, Idaho, Utah, Nevada, and South Dakota to receive full or partial reimbursement for leasing LogicMark's medical alert devices [1] - Eligible seniors can access LogicMark's devices without significant out-of-pocket costs, helping to alleviate financial barriers for fixed-income individuals [2] - The reimbursement process will vary by state and will cover devices such as the Freedom Alert Mini and Freedom Alert Max [2][4] Group 2: Company Mission and Vision - LogicMark aims to empower seniors to live independently and safely at home, enhancing their quality of life and supporting caregivers [3] - The company is focused on integrating its products into the Medicaid Waiver program as a major initiative for 2025, working closely with state and federal governments [3] Group 3: Device Features - The Freedom Alert Max, one of the devices included in the program, offers features like medication reminders, geofencing, and fall detection, along with 24/7 monitoring [5] - The Freedom Alert Mini allows direct communication with emergency services and includes patented fall detection technology [5] Group 4: Company Overview - LogicMark, Inc. is dedicated to providing personal safety devices and creating a Connected Care Platform, leveraging technologies such as IoT, AI, and machine learning [6] - The company's products are distributed through various channels, including the U.S. Veterans Health Administration and government contracts [6]

Core Viewpoint - LogicMark, Inc. has launched the Freedom Alert Max, an advanced personal emergency response system designed for seniors and caregivers, featuring over-the-air updates, fall detection, geofencing, and emergency video capabilities [1][3][8]. Product Features - Freedom Alert Max includes medication reminders, a fall detection algorithm, and geofencing for patients with dementia and Alzheimer's [1][6]. - The device features a user-friendly display with large buttons and text, making it accessible for users with impaired vision [3]. - It is the first fall detection device to offer emergency video for caregivers through the Care Village app, allowing real-time visual assessment of the user's well-being [3]. - The proprietary fall detection technology can sense falls and sudden movements, automatically calling for help even if the user cannot speak [4]. - The device learns patterns to prevent false positives in fall detection and predicts future falls [5]. Target Market - More than 7 million Americans live with Alzheimer's, and over 11 million care for those with dementia, highlighting the importance of the device's features for seniors and caregivers [6]. Monitoring and Communication - Freedom Alert Max provides 24/7 monitoring, ensuring immediate assistance during emergencies [7]. - The device pairs with the Care Village app for real-time alerts, location monitoring, and easy setup for caregivers [7]. - Caregivers can designate an "on-call" caregiver for emergencies, facilitating better coordination among care team members [7]. Pricing and Availability - The device is available for a one-time activation fee of $54.99, a monthly cellular plan of $19.99, and a 24/7 monitoring fee of $34.99, with a 90-day free trial for new users [8]. Company Mission and Vision - LogicMark aims to empower individuals of all ages to live with dignity and independence through innovative medical alert and health communication devices [10]. - The company is focused on creating a 'Care Village' with proprietary technology to enhance the care economy [11].

Core Viewpoint - LogicMark, Inc. has announced a reverse stock split of its common stock at a ratio of 1-for-25 to comply with Nasdaq's minimum bid price requirement [1][2][3] Group 1: Reverse Stock Split Details - The reverse stock split for both common and Series C preferred stock was approved during a Special Meeting of Stockholders on October 1, 2024 [2] - The reverse stock split is intended to ensure compliance with Nasdaq's $1.00 per share minimum bid price requirement for continued listing [2][3] - The common stock will begin trading on a split-adjusted basis on November 19, 2024, under a new CUSIP number [2] Group 2: Management Commentary - The CEO of LogicMark emphasized that the primary purpose of the reverse split is to maintain Nasdaq listing and to position the company for future product launches [3] Group 3: Company Overview - LogicMark, Inc. specializes in personal emergency response systems (PERS) and health communication devices, aiming to create a Connected Care Platform [5] - The company's products are designed to enable individuals to receive care at home and support aging in place [5] - LogicMark has contracts with the U.S. Veterans Health Administration and the U.S. General Services Administration for product distribution [5]

Financial Data and Key Metrics Changes - Revenue for Q3 2024 was $2.7 million, reflecting a 14% increase compared to the same period last year [5][18] - Gross profit improved by 13% to $1.8 million, maintaining a gross margin of 67% for the last six consecutive quarters [5][19] - Adjusted EBITDA for Q3 was a loss of $785,000, an improvement over the $1.1 million loss in Q3 2023 [20] - Net loss attributable to common shareholders was $1.6 million, compared to a net loss of $1.5 million in the same quarter last year [21] Business Line Data and Key Metrics Changes - Sales of the Freedom Alert Mini increased significantly from 191 units in Q2 to over 1,100 units in Q3 [18] - Higher sales were driven by both the legacy Guardian Alert 911 Plus product and the newly released Freedom Alert Mini [18] Market Data and Key Metrics Changes - The market opportunity for independent living and aging is projected to reach $17.26 billion by 2028 [13] - The smart personal safety market opportunity is projected to reach $33.5 billion by 2030, driven by increasing concerns over personal safety [14] Company Strategy and Development Direction - The company is transitioning into a software and hardware solutions provider, focusing on personal safety and emergency response systems [7] - There is a strong emphasis on research and development, expanding the intellectual property portfolio, and enhancing sales and marketing efforts [7][12] - The company aims to leverage its growing patent portfolio, which includes 23 total patents, to explore licensing opportunities in the future [15][32] Management's Comments on Operating Environment and Future Outlook - Management expressed confidence in the company's go-to-market strategy and operational excellence, highlighting the importance of technology solutions in addressing the caregiving gap [6][16] - The company is actively enhancing its product offerings and marketing strategies to capture a larger share of the market [12][37] Other Important Information - The company has established a partnership with Black Knight, a service-disabled, veteran-owned small business, to expand sales and marketing channels [11] - The company is focused on building a Care Village with proprietary technology to enhance quality of life [16] Q&A Session Summary Question: Insights on Freedom Alert Mini's traction and promotional activities - Management noted that the product has gained traction due to its superior features and ongoing marketing efforts, although no extraordinary promotional activities were conducted [23][24] Question: Positioning and marketing strategies for continued traction - The company is actively engaging with sales partners and enhancing marketing materials to communicate the product's unique features and competitive pricing [25][26] Question: Direct-to-consumer sales via Amazon - Management acknowledged the challenges of selling on Amazon but emphasized the importance of this channel for reaching consumers and improving sales [28][30] Question: Licensing technology from the growing IP portfolio - The company is strategically building its IP portfolio and is optimistic about future licensing opportunities, particularly in the applied AI space [32][34] Question: Feedback on the new demographic target market with Aster - Management indicated that it is still early to assess feedback but is actively gathering insights and making adjustments based on customer input [36][37]

LOUISVILLE, Ky., Nov. 12, 2024 (GLOBE NEWSWIRE) -- LogicMark, Inc. (Nasdaq: LGMK), a provider of personal safety, emergency response systems (PERS), health communications devices, and technology for the growing care and safety economy, today announced a strategic partnership with Black Knight Medical, LLC, a Service-Disabled Veteran-Owned Small Business (SDVOSB). This collaboration will enable LogicMark to leverage Black Knight Medical’s expertise in medical supply distribution and government contracting to ...

LOUISVILLE, Ky., Nov. 01, 2024 (GLOBE NEWSWIRE) -- LogicMark, Inc. (Nasdaq: LGMK), (“LogicMark” or the “Company”), a provider of personal safety, emergency response systems (PERS), health communications devices, and technology for the growing care and safety economy, today announced that it has entered into a Rights Agreement with Nevada Agency and Transfer Company (the “Rights Agreement”) to protect shareholder rights and long-term shareholder value. This decision has been taken in response to recent actio ...

LOUISVILLE, Ky., Oct. 31, 2024 (GLOBE NEWSWIRE) -- LogicMark, Inc. (NASDAQ: LGMK), a provider of emergency response systems, health communications devices, and technology for the growing personal safety and care economy, will issue a press release announcing its financial results for the third quarter ended September 30, 2024, after the market close on Tuesday, November 12, 2024. Ms. Chia-Lin Simmons, CEO, and Mr. Mark Archer, CFO, will host a live investor call and webcast the same day at 1:30 PM (PST) / 4 ...

LOUISVILLE, Ky., Aug. 13, 2024 (GLOBE NEWSWIRE) -- LogicMark, Inc.(Nasdaq: LGMK), a provider of personal safety, personal emergency response systems (PERS), health communications devices, and technology for the growing care and safety economy, today announced financial results for the quarter ended June 30, 2024. Summary: Revenues were $2.3 million, up slightly compared with the prior year period. Gross margin in the second quarter of 2024 was 67%, compared with 69% for the second quarter of 2023. Overall o ...

LOUISVILLE, Ky., Aug. 02, 2024 (GLOBE NEWSWIRE) -- LogicMark, Inc. (Nasdaq: LGMK), a provider of personal emergency response systems, health communications devices, and technology for the growing care economy, today announced the pricing of its public offering priced at-the-market, and the scheduling of its special stockholder meeting for October 1, 2024. Public Offering The public offering consists of 9,670,000 units, with each unit consisting of one share of common stock (or prefunded warrant in lieu ther ...