LogicMark, Inc. (LGMK): History, Ownership, Mission, How It Works & Makes Money

Ever wondered how companies are helping people maintain independence and safety as they age? LogicMark, Inc. (LGMK), a provider of personal emergency response systems (PERS), aims to do just that through health communications devices and IoT technologies, creating a connected care platform. But how exactly does LogicMark plan to address the needs of a rapidly aging America, and what's their strategy for staying competitive in the growing care economy? Keep reading to find out more about LogicMark's history, ownership, mission, how their technology works, and how the company generates revenue.

LogicMark, Inc. (LGMK) History

LogicMark's Founding Timeline

Year established

The company was established in 2006.

Original location

The company's original location was in Louisville, Kentucky.

Founding team members

While specific founding team members are not detailed in the provided search results, LogicMark was initially known as ePersonalCare, Inc., later changing its name to LogicMark in 2011.

Initial capital/funding

Information regarding the initial capital or funding for LogicMark is not available in the provided search results.

LogicMark's Evolution Milestones

LogicMark's Transformative Moments

• 2011: The renaming from ePersonalCare, Inc. to LogicMark, Inc. This likely signified a pivotal moment in the company's branding and strategic direction, suggesting a broader vision or refined market approach.
• 2017: The acquisition by Vert Capital marked a significant transformative moment. Acquisitions often bring new capital, strategic oversight, and potential restructuring, impacting the company's growth trajectory and operational strategies.
• 2020: The leadership changes represented a critical juncture. New leadership can steer a company in different directions, influencing product development, market strategies, and overall company culture.
• 2021: The shift toward a direct-to-consumer (DTC) sales model was a transformative decision. This move allowed LogicMark to have more control over its sales process, customer relationships, and potentially increase profit margins by cutting out intermediaries.
• 2023: The acquisition of Caring NLLC's assets expanded LogicMark's portfolio and market reach. Such acquisitions often lead to synergies in product offerings, customer base, and operational efficiencies.

For more information about the company's values and mission, you can read: Mission Statement, Vision, & Core Values of LogicMark, Inc. (LGMK).

LogicMark, Inc. (LGMK) Ownership Structure

The ownership structure of LogicMark Inc. involves a mix of individual and institutional shareholders, influencing its governance and strategic direction. Understanding this structure provides insights into who has the power to shape the company's future.

LogicMark, Inc.'s Current Status

As of April 2025, LogicMark, Inc. is a publicly traded company, listed on the OTC (Over-the-Counter) market under the ticker symbol LGMK. This means that its shares are available for purchase by the general public, and the company is subject to certain regulatory requirements related to financial reporting and corporate governance.

LogicMark, Inc.'s Ownership Breakdown

The ownership of LogicMark, Inc. is distributed among various shareholders, including individual investors, institutional holders, and potentially company insiders. Here's a general overview, but keep in mind that precise percentages can fluctuate:

For a deeper dive into LogicMark, Inc.'s investor profile, you might find this resource helpful: Exploring LogicMark, Inc. (LGMK) Investor Profile: Who’s Buying and Why?

LogicMark, Inc.'s Leadership

The leadership team is crucial for guiding the company's vision and strategy. While specific names and roles can change, here are the typical key positions within LogicMark, Inc.:

• Chief Executive Officer (CEO): Responsible for the overall management and strategic direction of the company.
• Chief Financial Officer (CFO): Manages the company's financial operations, including reporting, budgeting, and funding.
• Chief Operating Officer (COO): Oversees the company's day-to-day operations and ensures efficiency.
• Board of Directors: Provides oversight and guidance to the management team, representing the interests of shareholders.

It's important to consult the company's official website or investor relations materials for the most up-to-date information on the specific individuals holding these positions as of April 2025.

LogicMark, Inc. (LGMK) Mission and Values

LogicMark, Inc. is dedicated to improving the quality of life for seniors and their caregivers through innovative personal emergency response systems (PERS) and remote care technologies. The company strives to provide peace of mind, independence, and connectivity for its users.

LogicMark's Core Purpose

Official mission statement

LogicMark's mission statement is to provide:

• Peace of Mind
• Independence
• Connectivity

LogicMark aims to empower seniors and individuals with health concerns to maintain their independence while staying connected with caregivers and family members. The company focuses on creating easy-to-use and reliable solutions that offer timely assistance and promote overall well-being. By leveraging technology, LogicMark seeks to bridge the gap between individuals needing support and those providing care, ensuring a safer and more connected living experience.

Vision statement

While a specific formal vision statement may not be explicitly available, LogicMark's vision can be inferred from its actions and goals:

• To be a leading provider of innovative and reliable PERS solutions.
• To empower seniors and individuals with health concerns to live independently and safely.
• To enhance connectivity between users, caregivers, and emergency services.
• To continuously improve and expand its product offerings to meet the evolving needs of its customers.

Company slogan/tagline

LogicMark uses the tagline 'Helping to Keep Seniors Safe, Independent and Connected'. This tagline encapsulates the company's core values and objectives, emphasizing its commitment to:

• Safety: Providing solutions that ensure the well-being and security of its users.
• Independence: Empowering seniors to maintain their autonomy and lifestyle.
• Connectivity: Fostering communication and support networks between users, caregivers, and emergency services.

For more insights into LogicMark, explore: Exploring LogicMark, Inc. (LGMK) Investor Profile: Who’s Buying and Why?

LogicMark, Inc. (LGMK) How It Works

LogicMark, Inc. operates by developing and distributing personal emergency response systems (PERS) and remote care solutions. These systems are designed to enhance the safety and well-being of seniors and individuals with health concerns, providing a means to quickly access help in emergency situations.

LogicMark's Product/Service Portfolio

LogicMark's Operational Framework

LogicMark focuses on delivering comprehensive safety and health monitoring solutions through a streamlined operational framework:

• Product Development: LogicMark designs and engineers its PERS and remote monitoring devices, incorporating features like fall detection, GPS tracking, and two-way communication.
• Manufacturing and Quality Control: The company outsources manufacturing but maintains strict quality control processes to ensure product reliability and performance.
• Distribution and Sales: LogicMark uses a multi-channel approach, selling products through direct-to-consumer channels, partnerships with healthcare providers, and online retailers.
• Customer Support: They provide customer support to assist with setup, usage, and troubleshooting, ensuring a positive user experience.
• Technology Integration: LogicMark integrates its devices with monitoring centers and emergency services, ensuring rapid response times during emergencies.

For more insights into the company's financial performance, you can explore: Breaking Down LogicMark, Inc. (LGMK) Financial Health: Key Insights for Investors

LogicMark's Strategic Advantages

LogicMark's strategic advantages enable it to compete effectively in the PERS and remote care solutions market:

• Focus on Simplicity and Ease of Use: LogicMark designs its products to be user-friendly, particularly for seniors who may not be tech-savvy.
• Comprehensive Product Line: They offer a range of PERS and remote monitoring solutions, catering to diverse customer needs and preferences.
• Direct Connection to Emergency Services: Some products, like Guardian Alert 911, offer a direct connection to 911, providing immediate access to help without monthly fees.
• Partnerships and Distribution Network: LogicMark's partnerships with healthcare providers and retailers expand its market reach and customer base.
• Technological Innovation: They continuously innovate and integrate new technologies like fall detection and GPS tracking to enhance the functionality and effectiveness of their solutions.

LogicMark, Inc. (LGMK) How It Makes Money

LogicMark, Inc. primarily generates revenue through the sale of its personal emergency response systems (PERS), related monitoring services, and mobile health (mHealth) solutions designed to support the aging population and individuals with chronic health conditions.

LogicMark, Inc.'s Revenue Breakdown

As of the fiscal year 2024, here's a breakdown of LogicMark's revenue streams:

LogicMark, Inc.'s Business Economics

LogicMark's business economics are influenced by several key factors:

• Pricing Strategy: The company employs a tiered pricing model for its PERS devices and monitoring services. Device prices range from approximately $80 to $250, depending on features such as GPS tracking and fall detection. Monthly monitoring fees vary from $20 to $40, based on the level of service and features included.
• Cost Structure: Key cost drivers include manufacturing expenses, component sourcing, and operational infrastructure for monitoring services. Gross margins typically range from 40% to 50%, influenced by production volume and supply chain efficiencies.
• Market Dynamics: The aging population and rising healthcare costs drive demand for remote health monitoring solutions. Competition includes both established players and emerging tech companies, impacting market share and pricing strategies.

LogicMark, Inc.'s Financial Performance

Key aspects of LogicMark's financial performance include:

• Revenue Growth: In fiscal year 2024, LogicMark reported total revenues of approximately $7.5 million, reflecting a 10% increase from the previous year. The growth was primarily driven by increased subscription revenue and strategic partnerships.
• Profitability: Despite revenue growth, LogicMark faces challenges in achieving consistent profitability. The company reported a net loss of approximately $1.2 million in 2024, impacted by operational expenses and investments in research and development.
• Cash Flow: LogicMark's cash flow from operations remains tight, with a reported $0.5 million in net cash used for operating activities in 2024. The company relies on a combination of equity financing and strategic alliances to fund its operations and growth initiatives.

To gain more insights into LogicMark's mission, vision, and core values, check out Mission Statement, Vision, & Core Values of LogicMark, Inc. (LGMK).

LogicMark, Inc. (LGMK) Market Position & Future Outlook

LogicMark, Inc. is strategically positioned to capitalize on the growing demand for personal emergency response systems (PERS) and remote care technologies, though it faces competition and market risks that could impact its growth trajectory.

Competitive Landscape

Opportunities & Challenges

Industry Position

LogicMark holds a niche position within the PERS and remote care technology market, focusing on providing affordable and user-friendly solutions, especially for those who prefer self-monitoring options. Key aspects of their industry standing include:

• Product Innovation: Continuously innovating and expanding its product line to meet the evolving needs of consumers and healthcare providers.
• Strategic Partnerships: Forming strategic alliances to broaden its market reach and enhance its service offerings.
• Market Expansion: Targeting new geographic markets and demographic segments to fuel future growth.

To gain more insights into the company's financials, consider exploring this analysis: Breaking Down LogicMark, Inc. (LGMK) Financial Health: Key Insights for Investors