- Earnings call transcript Q3 2022

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Operator

[Starts Abruptly] 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.

reports these LogicMark's refer report that most XX-K subsequent about factors the on accompanies information SEC and in the the described recently periodic in this more call, risks, press cautionary to please risk Form and particularly For LogicMark's with statements release it. filed filed annual content this call accurate today, of as XXXX. of contains is The November only time-sensitive information XX, that to by required or LogicMark disclaims events to occur obligation that update information law, any revise publicly after any Except reflect call. circumstances or as this to is company's to It pleasure turn my Chia-Lin the call over the Simmons. CEO,

Chia-Lin Simmons

to to in Thank pleased were and higher with margins profits improved and to and Notably, everyone, strong development, XX% operations, thanks gross am and we gross and that us. by property XX% we driven achieved revenue another improvements I revenue hospitals you, QX Louie. product as report solid marketing. quarter across year-to-date, for initiatives Welcome, sales sales of and expansion, joining clinics. up growth, VA intellectual increases our execute continue in

a exciting may business You state into and in economy. PERS position care an the and an transformation we a solutions as we as local and technology GSA expanding continues us our LogicMark for to on grow services building in solutions its coming products roll the growing and economy. serves share provider of company levels. well our leading the market care focused LogicMark at purpose-driven agency This federal, quarters governmental additional out recall can generate services vendor new are related approved and

impacting Web we with and direct-to-consumer new for the In company we exciting connections enabling consistent to and corporate invigorate involved more LogicMark including stronger Currently, This Web Alert site us our to and and Guardian We have embarked well to Alert position as as value-added our our ability sell a customers, an related in revenue on to sale, portal, be cross with achieve site products drives positively accessories. require This process. direct various margin. channel e-commerce the our end as models, enables launched purchases. for our allowing our accessories, the growth channel sales July, enhanced several growth. us and includes Freedom talent the sales to resources products journey

and With services, sales these of we to leverage products capabilities the new diversify and will development revenue streams. mix our

product Garett Senior key Senior John and We of also Hunter with and two of members; marketing the Marketing. our us Director, team Product; as joining continue as us joining investing addition President our in infrastructure, Federico Vice

Our foothold our development are believe hard R&D product and transformational they producing We results be at market as and will expand the work. we our are teams share. grow

our month. anticipated very app, next first AsterX+X with launches, excited the are about beginning product We new our software

but AsterX+X you. not of connected, and help is emergency but in and friends anyone Key lacking scheduled appointment. and automatically easier your in synced new to family faster calendar This don't contacts. set emergency and an that contact personal a to sync your it PERS scheduling being to has makes in centric check after check-ins mobile button a protects A your the is stops been AsterX+X. one's the calendar customer historically market. emergency technology, to to you that the to account, emergency pin call a scheduled example smart, ability your response something app is app a if company's cancelled approach It online automatic feature The first design that for both, unique or of up system LogicMark's from your only to features by your services, connection alerts AsterX PERS. one include ecosystem systems,

plan experience final release our We've uses solutions. also to PERS, of at first after. shortly devices wearables strides focused to mission of is month intellectual two with WiFi and a fullest. enabled expanding made AsterX+X on the many personal applications Alert+ the We follow product, in LogicMark for covering life functions. filing Freedom the the property, great in including protect patent Our living of and the our our in of QX, additional various related such filed We patents as wellness to innovations

a deployment a and provisional XXXX our Additionally, use devices includes interactions. delivery. we context sensors and techniques various that in AI that of wellness in filing final November and April multi-party We will of be will a in can in And the XXXX ensure September XX the be filed wellness provisional of that systems care various covering application and the techniques their filing provisional from we in systems incorporates application learning further quality QX. of wider support machine on application

are company revenue in commitment our are discuss record financial that I'm transform what the LogicMark to provide continue market to objectives operational now that solutions return some our and shareholders And pause we quarter we improved We longer a our the enhance accomplishing our more to I'm Archer in success. I'll LogicMark performance, steadfast as towards year, results. third made establish our ask to to to delivering since continue believe June resolute heartened success. of generation of as to closing I'm remarks. confident to last progress shareholder our excellence, and on and then track diversify commitment Mark in leading position promises we've to proceed financial my passionate joining value. and I'll we through by

Mark Archer

Thank you, Chia-Lin.

and costs XX,XXX were the to were last July in now direct media the support the third cash Annual spending increased XX was e-commerce increased quarter XX, year. to to insurance all the to VA our per in compared the XXXX general advertising the in related to consultant and from driven expenses profit was ago solicitation proxy third of by new operating in up year. Direct year, Gross end ended the costs, per associated Relations new X.X shareholders XXXX. ago and Revenue Selling the call XXX,XXX year, addition over Public on quarter the improvements a Relations, General just million, $X.X $X.X for Investor I'll million And back in Here of and quarter share, costs increased the are addition the of of direct-to-consumer the from public prior sales company, loss the for year third the XX, as in the the September period new organizations. from X.X expense XX% the the XXXX, months August period. $X quarter initiation and and the ago XX% the to due up final year as XXX,XXX, year as September We in was the product in year personnel applicable to period the with million Net last quarter XXXX increasing paid to finance in quarter for turn marketing Increased fees, XXX,XXX, period. being Web third area $X.XX Gross third million XX of Revenue the in over higher XXXX, in same process sales higher administrative accounting prior of same XX% bank margin the spending to higher in third XXX,XXX development and increase last the period. due Chia-Lin in launch higher of to share, this from social third some million the ended third September period driven at specifically sales. higher Research G&A result XXX,XXX completed increase support to XXXX three period million same for costs XX% personnel quarter last the results closed increased for addition of Meeting. and the new of activity. hospitals period, common of to development in versus the was a online or the XX% for same to compared site. over year. sales from September the company's versus increases commissions comments. up quarter were of by financial the with well $X.XX was the clinics. our costs or The million, up due on X.X ended quarter quarter XX, for costs

Chia-Lin Simmons

Thanks, Mark.

call, the up wrap you with of key want we to couple a I As leave thoughts.

time, in solutions hard that and cared to the we continue with increase XX rapidly. these solutions As we silver these to currently expected I last enable in questions. technology economy daily, At evolving boomers with for our that to forward progress properly turning are to safely I place, of ones demand as new demand opportunities that this come. for. CAGR We call economy, innovate monitored to Research the address that We're mentioned continues tirelessly loved in while the in at with excited announcements Aging-in-Place home, market work growing this are supports about care innovative for a provide assumed and stage over call, care and age XX,XXX want of being We, In to open midst live Operator? baby are their that the The economy. tsunami, XX%. a look initiatives. appropriately of the they're about for billion. XX is XX years ensuring XX% beyond to LogicMark, to is people that total that new strong working you care will the updating to setting total

Operator

Instructions]. [Operator you. Thank

Operator

Chia-Lin have questions in I the turn closing back for will I queue. over remarks. to call no Simmons

Chia-Lin Simmons

in appropriate look to our of thank provide participated you the continuing so Thank you time. I to progress our want I updates all much. to call who on today. forward at

Operator

participation. call. for Thank This you today's concludes your conference

now may You disconnect.

LogicMark (LGMK) 10 Nov 222022 Q3 Earnings call transcript