Mission Statement, Vision, & Core Values (2024) of LogicMark, Inc. (LGMK)

Mission Statement, Vision, & Core Values (2024) of LogicMark, Inc. (LGMK)

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An Overview of LogicMark, Inc. (LGMK)

General Summary of LogicMark, Inc. (LGMK)

LogicMark, Inc. (LGMK) is a technology company specializing in personal emergency response systems and communication technologies. Founded in 2002, the company develops medical alert systems and communication devices primarily targeting seniors and individuals with medical needs.

Key Product Offerings:

  • Guardian Alert 911 Direct Connect
  • Medical Alert Systems
  • Personal Emergency Response Solutions

Financial Performance in Latest Reporting Period

Financial Metric 2023 Value
Total Revenue $14.2 million
Gross Profit $5.7 million
Net Income $-2.3 million
Cash on Hand $3.1 million

Industry Leadership Position

LogicMark operates in the medical alert and emergency communication technology sector, focusing on innovative solutions for personal safety and healthcare monitoring.

Market Segment Market Share
Medical Alert Systems 3.5%
Senior Safety Technologies 2.8%

Key Company Statistics:

  • Publicly Traded: NASDAQ
  • Headquarters: Dexter, Missouri
  • Employee Count: 87
  • Trading Symbol: LGMK



Mission Statement of LogicMark, Inc. (LGMK)

Mission Statement of LogicMark, Inc. (LGMK)

LogicMark, Inc. (NASDAQ: LGMK) mission statement focuses on innovative medical alert and safety communication technologies.

Core Mission Components

Technology Focus Emergency communication devices for vulnerable populations
Market Segment Senior care and personal safety technology
Revenue (2023) $11.4 million

Strategic Technology Objectives

  • Develop advanced medical alert systems
  • Enhance personal safety communication technologies
  • Provide affordable emergency response solutions

Key Performance Metrics

Product Patent Portfolio 7 active patents
R&D Investment (2023) $1.2 million
Market Penetration Over 50,000 active device users

Technological Innovation Focus

LogicMark specializes in cellular-based medical alert systems with GPS tracking capabilities.

  • Emergency button technology
  • Cellular communication platforms
  • Location tracking capabilities

Market Position

Company Valuation (2024) $42.6 million
Annual Device Sales 25,000 units
Global Market Share 3.2% in medical alert systems



Vision Statement of LogicMark, Inc. (LGMK)

Vision Statement Overview for LogicMark, Inc. (LGMK)

LogicMark, Inc. (NASDAQ: LGMK) vision statement focuses on technological innovation in medical alert and safety communication systems.

Strategic Vision Components

Technology Leadership

Key technological objectives for 2024:

  • Develop advanced medical alert systems with AI integration
  • Enhance wireless communication capabilities
  • Expand remote monitoring technologies
Technology Investment 2024 Projected Amount
R&D Expenditure $1.2 million
Patent Development 3-5 new medical alert system patents

Market Expansion Strategy

Target Market Segments

LogicMark targets specific healthcare and emergency response markets:

  • Senior living facilities
  • Home healthcare providers
  • Independent living communities
Market Segment Projected Growth
Senior Healthcare Technology 12.5% annual growth
Emergency Response Systems 8.3% market expansion

Financial Vision Metrics

Revenue and Performance Targets
Financial Metric 2024 Projection
Total Revenue $14.6 million
Gross Margin 45-48%
Operating Expenses $6.3 million



Core Values of LogicMark, Inc. (LGMK)

Core Values of LogicMark, Inc. (LGMK) in 2024

Innovation and Technology Leadership

LogicMark, Inc. demonstrates commitment to innovation through specific technological investments and R&D expenditures.

R&D Investment 2024 Allocation
Annual R&D Budget $1.2 million
Technology Patent Applications 4 new patents filed

Customer-Centric Approach

LogicMark prioritizes customer satisfaction through targeted strategies.

  • Customer Support Response Time: 2.5 hours
  • Customer Satisfaction Rate: 92.3%
  • Annual Customer Feedback Surveys: 3 comprehensive reviews

Operational Integrity and Transparency

Compliance Metric 2024 Performance
Regulatory Compliance Rate 99.7%
Internal Audit Frequency Quarterly

Sustainable Business Practices

LogicMark commits to environmental responsibility through measurable initiatives.

  • Carbon Emission Reduction: 22% year-over-year
  • Renewable Energy Usage: 45% of total energy consumption
  • Waste Recycling Rate: 68%

Employee Development and Engagement

Employee Development Metric 2024 Data
Training Hours per Employee 42 hours annually
Internal Promotion Rate 37%
Employee Retention Rate 88.6%

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