LogicMark Inc (NASDAQ:LGMK) shares are trading higher by 59.17% to $0.22 Wednesday morning after the company announced financial results for the year ended 2022. The company reported FY22 revenue of $11.9 million.
What Else?
Among the highlights for FY22, LogicMark reported:
- Revenue growth of 19% in 2022 compared to the prior year.
- Gross profit increased 25% in 2022 versus 2021.
- Gross margin was 60.7% in 2022, up 300 bps from 57.7% in 2021.
- Appointed Brady Farrell as Vice President of Sales
- Appointed Garett Hunter as Senior Vice President of Marketing
LogicMark also says gross profit was $7.2 million for the year ended December 31, 2022, versus $5.8 million in 2021, an increase of 25%.
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According to data from Benzinga Pro, LGMK has a 52-week high of $2.38 and a 52-week low of $0.12.
