LogicMark, Inc. Reports Third Quarter Results Highlighted by Five Percentage Point Increase in Gross Margin
LOUISVILLE, Ky., Nov. 09, 2023 (GLOBE NEWSWIRE) -- LogicMark, Inc. (Nasdaq: LGMK), a provider of personal emergency response systems (PERS), health communications devices, and technology for the growing care economy, announced financial results for the third quarter ended September 30, 2023, and recent highlights.
- Gross margin percentage improved to 67% in the third quarter of 2023, a five percentage point increase compared to 62% for the prior year period.
- Overall operating expenses were 12% lower at $3.4 million compared with $3.8 million in the prior year period.
- Gross profit margin in the third quarter was 67%, or five percentage points higher compared with 62% in the prior year period.
- Gross profit in the third quarter of this year was $1.6 million compared to $1.7 million in the same period last year.