LogicMark, Inc. Announces Strong First Quarter 2026 Results
Financial Highlights
- First quarter 2026 revenue increased 24% to
$3.2 million compared to the same period last year. Revenue has increased year-over-year in seven of the last eight quarters. - Gross margin expanded 610 basis points to 69.6%, up from 63.5% in the prior-year period.
- Total operating expenses declined 7% to
$3.7 million , compared with$4.0 million in the prior-year period. - Operating loss narrowed to
$1.5 million , compared with an operating loss of$2.4 million in the prior-year period. - As of
March 31, 2026 , cash and investments totaled$7.5 million , and the Company had no long-term debt.
Looking ahead, we are focused on three priorities: scaling distribution across healthcare, government, and B2B channels; bringing our next-generation products to market; and protecting profitability through pricing, productivity, and disciplined cost management in a dynamic macro environment. With
First Quarter 2026 Results
Revenue for the first quarter ended
Gross profit for the first quarter improved 36% to
Total operating expenses for the first quarter were
Operating loss for the first quarter was
Net loss attributable to common stockholders was
As of
Investor Call and SEC Filings
Ms.
To listen to the live webcast, please visit the LogicMark Investor Relations website or use the link: https://edge.media-server.com/mmc/p/pc9vm77u
Analysts wishing to participate in the live call should register here:
https://register-conf.media-server.com/register/BIc30647f970864cb5a40fcf4166c9f751
The associated press release,
About
Cautionary Statement Regarding Forward-Looking Statements
This press release contains forward-looking statements within the meaning of the Private Securities Litigation Reform Act of 1995. Forward-looking statements reflect management’s current expectations, as of the date of this press release, and involve certain risks and uncertainties. Forward-looking statements include statements herein with respect to, among other things, the Company’s financial results for the first quarter of 2026 and related call and webcast, and the successful execution of the Company’s business strategy, including expectations regarding revenue growth, gross margin, operating expense trends, subscription revenue, channel mix, new product launches, supply-chain transitions, and liquidity. The Company’s actual results could differ materially from those anticipated in these forward-looking statements as a result of various factors. Such risks and uncertainties include, among other things, the Company’s ability to establish and maintain the proprietary nature of its technology through the patent process, as well as the ability to license from others patents and patent applications necessary to develop products; the need and availability of financing; the Company’s ability to implement its long-range business plan for various applications of its technology; the Company’s ability to enter into agreements with any necessary marketing and/or distribution partners; the impact of competition; the obtaining and maintenance of any necessary regulatory clearances applicable to applications of the Company’s technology; tariff and trade-related risks; and management of growth and other risks and uncertainties that may be detailed from time to time in the Company’s reports filed with the
Investor Relations Contact
| BALANCE SHEETS | ||||||||
| (Unaudited) | ||||||||
| 2026 | 2025 | |||||||
| Assets | ||||||||
| Current Assets | ||||||||
| Cash and cash equivalents | $ | 2,109,529 | $ | 3,567,487 | ||||
| Investments | 5,377,685 | 5,943,218 | ||||||
| Accounts receivable, net | 6,384 | 5,812 | ||||||
| Inventory | 1,841,286 | 1,400,305 | ||||||
| Prepaid expenses and other current assets | 693,195 | 681,265 | ||||||
| Total Current Assets | 10,028,079 | 11,598,087 | ||||||
| Property and equipment, net | 128,325 | 113,929 | ||||||
| Right-of-use assets, net | 311,133 | 324,058 | ||||||
| Product development costs, net of amortization of |
1,446,414 | 1,257,447 | ||||||
| Software development costs, net of amortization of |
2,223,878 | 2,454,909 | ||||||
| 3,143,662 | 3,143,662 | |||||||
| Other intangible assets, net of amortization of |
1,224,017 | 1,414,466 | ||||||
| Total Assets | $ | 18,505,508 | $ | 20,306,558 | ||||
| Liabilities, Series C Redeemable Preferred Stock and Stockholders’ Equity | ||||||||
| Current Liabilities | ||||||||
| Accounts payable | $ | 344,637 | $ | 563,990 | ||||
| Accrued expenses | 1,016,063 | 1,128,424 | ||||||
| Deferred revenue | 231,092 | 239,916 | ||||||
| Total Current Liabilities | 1,591,792 | 1,932,330 | ||||||
| Other long-term liabilities | 269,049 | 282,899 | ||||||
| Total Liabilities | 1,860,841 | 2,215,229 | ||||||
| Commitments and Contingencies (Note 9) | ||||||||
| Series C Redeemable Preferred Stock | ||||||||
| Series C redeemable preferred stock, par value |
1,807,300 | 1,807,300 | ||||||
| Stockholders’ Equity | ||||||||
| Preferred stock, par value |
||||||||
| Series F preferred stock, par value |
319,000 | 319,000 | ||||||
| Common stock, par value |
91 | 91 | ||||||
| Additional paid-in capital | 132,601,746 | 132,597,001 | ||||||
| Accumulated deficit | (118,083,470 | ) | (116,632,063 | ) | ||||
| Total Stockholders’ Equity | 14,837,367 | 16,284,029 | ||||||
| Total Liabilities, Series C Redeemable Preferred Stock and Stockholders’ Equity | $ | 18,505,508 | $ | 20,306,558 | ||||
| CONDENSED STATEMENT OF OPERATIONS | ||||||||
| (Unaudited) | ||||||||
| For the Three Months Ended |
||||||||
| 2026 | 2025 | |||||||
| Revenues | $ | 3,214,280 | $ | 2,591,824 | ||||
| Costs of goods sold | 977,492 | 946,597 | ||||||
| Gross Profit | 2,236,788 | 1,645,227 | ||||||
| Operating Expenses | ||||||||
| Direct operating cost | 377,679 | 343,626 | ||||||
| Advertising costs | 78,375 | 174,590 | ||||||
| Selling and marketing | 805,550 | 517,100 | ||||||
| Research and development | 123,436 | 155,489 | ||||||
| General and administrative | 1,728,733 | 2,269,504 | ||||||
| Other expense | 16,281 | 49,611 | ||||||
| Depreciation and amortization | 612,101 | 499,425 | ||||||
| Total Operating Expenses | 3,742,155 | 4,009,345 | ||||||
| Operating Loss | (1,505,367 | ) | (2,364,118 | ) | ||||
| Other Income | ||||||||
| Interest income | 96,227 | 45,213 | ||||||
| Other (expense) income, net | (42,267 | ) | 127,919 | |||||
| Total Other Income | 53,960 | 173,132 | ||||||
| Loss Before Income Taxes | (1,451,407 | ) | (2,190,986 | ) | ||||
| Income tax expense | - | - | ||||||
| Net Loss | (1,451,407 | ) | (2,190,986 | ) | ||||
| Preferred stock dividends | (75,000 | ) | (75,000 | ) | ||||
| Net Loss Attributable to Common Stockholders | (1,526,407 | ) | (2,265,986 | ) | ||||
| Net Loss Attributable to Common Stockholders Per Share - Basic and Diluted | $ | (1.68 | ) | $ | (93.50 | ) | ||
| Weighted Average Number of Common Shares Outstanding - Basic and Diluted | 906,059 | 24,235 | ||||||
Source: LogicMark, Inc.