LogicMark, Inc. (LGMK) Q3 2022 Earnings Call Transcript

Nov. 10, 2022 6:31 PM ETLogicMark, Inc. (LGMK)
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LogicMark, Inc. (NASDAQ:LGMK) Q3 2022 Earnings Conference Call November 10, 2022 4:30 PM ET

Company Participants

Chia-Lin Simmons - CEO

Mark Archer - CFO

Louie Toma - CORE IR


I would now like to turn the call over to Louis Toma from CORE IR, the company's Investor Relations firm.

Louie Toma

Good afternoon and thank you for participating in today's conference call. Joining me from LogicMark's leadership team are Chia-Lin Simmons, Chief Executive Officer; and Mark Archer, Chief Financial Officer.

During this call, management will be making forward-looking statements, including statements that address LogicMark's expectations for future performance or operational results and anticipated product launches. Forward-looking statements involve risks and other factors that may cause actual results to differ materially from those statements.

For more information about these risks, please refer to the risk factors described in LogicMark's most recently filed annual report on Form 10-K and subsequent periodic reports filed with the SEC and LogicMark's press release that accompanies this call, particularly the cautionary statements in it.

The content of this call contains time-sensitive information that is accurate only as of today, November 10, 2022. Except as required by law, LogicMark disclaims any obligation to publicly update or revise any information to reflect events or circumstances that occur after this call.

It is now my pleasure to turn the call over to the company's CEO, Chia-Lin Simmons.

Chia-Lin Simmons

Thank you, Louie. Welcome, everyone, and thanks for joining us. I am pleased to report that we achieved another strong quarter of solid revenue growth, up 15% in Q3 and 28% year-to-date, with higher gross profits and improved gross margins as we continue to execute across our initiatives and product development, operations, intellectual property expansion, sales and marketing.

Notably, revenue increases were driven by improvements in sales to VA hospitals

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