LogicMark Registers 6% Revenue Decline In Q4

• LogicMark Inc (NASDAQ:LGMK) reported a fourth-quarter FY21 revenue decline of 6% year-on-year to $2.4 million.
• Gross margin contracted 300 bps to 43% due to a mix shift to its costlier Guardian Alert 911 Plus 4G unit.
• Operating loss was $(6.1) million versus an operating loss in the Q4 FY20 of $(1.0) million.
• LogicMark held $12 million in cash and equivalents.
• "As we entered 2022, we have seen strong demand for our 4G products as 3G networks are being phased out, which we expect to positively impact sales in the first quarter. As we look ahead to the second quarter, we plan to launch new business partnerships, products, and an e-commerce website targeted at the direct-to-consumer market," CEO Chia-Lin Simmons said.
• Price Action: LGMK shares traded higher by 0.91% at $1.93 on the last check Tuesday.